2007 Aggie Grad here. Currently work at a financial institution as branch manager but I feel like I need more education, such as an MBA, to advance into senior level management. Any advice or recommendations on Houston area or online MBA programs?
blingard said:
The best on-line programs include: Indiana, Carnegie Mellon and the University of North Carolina. I went to the first two schools and recommend them. UNC would be a very solid choice as well. Go to all three schools web sites and check the programs out.
if you're trying to do a career change, a full-time would've been the move, but see what career management resources are available to you as a part-time student at Jonesjamaggie06 said:
If you don't mind, I have a few questions. I was just accepted to Rice's professional MBA program.
What school?
Full time or part time?
Are you still functioning in an engineering role, if so, in management? If not, did you transition careers? What to?
What has been the impact on your earnings and earning potential?
I am currently in engineering. I am considering changing careers all together if I can't transition into management. I have taken a liking to finance and financial analysis and this is where I am considering a career transition but have no formal education in business, accounting or finance.
jamaggie06 said:
I dont understand the full time programs. Who, except 23 year olds with little actual experience can suddenly not only stop receiving a paycheck, but then also add another $200k in debt to finance an MBA? I mean, its $100k just in tuition. Now add back in your living expenses for two years and thats like a $400-500k decision.
There is no way.
well seeing that i just turned 30 and am quitting my job in 3 weeks to attend a full-time MBA program, i am living proof that it's easily doable. The payback period on this degree will be 4 years from today, and my salary will significantly increase. This is very short-term thinking, which makes sense why a part-time MBA would be for you. Full-time isn't for everyone, but i wouldn't suggest continue doing a career/function that you just do not like just because of societal/financial pressures. I don't measure happiness in dollars either, so that has to also go into the equation. This was a 40 year decision for me, not a 2 year decisionjamaggie06 said:
I dont understand the full time programs. Who, except 23 year olds with little actual experience can suddenly not only stop receiving a paycheck, but then also add another $200k in debt to finance an MBA? I mean, its $100k just in tuition. Now add back in your living expenses for two years and thats like a $400-500k decision.
There is no way.
No problem, I understand where you're coming from, and your concerns are 100% valid.jamaggie06 said:
Are you married?
Are you relocating to attend?
What industry are you looking to move into?
Are you borrowing against retirement savings, or do you actually have the savings on hand to cover school plus living for two years? If so, congrats. But, damn. If you've got that by 30, what do you need an MBA for?
Maybe its just the conservative engineer in me, and yes I've seen all the great claims of increased salary etc., but I look at is far from a guarantee.
Im not saying that I dont see the value of one. Obviously, I do.
I was just genuinely curious as to who comprises the bulk of the FT students as it just didnt seem like a viable possibility for me.
Its still hard to stomach knowing that mba tuition alone is going to cost more than twice what paid for six years at A&M for two degrees including living expenses.
Also, what program are you going to? I'm interested in reading your thoughts and expectations on the process and program. I know I could have likely been admitted to a top full time program and I really intend to make the most of networking opportunities as that is one of the great benefits of any good program.
Again, Im not trying to e-fight or be pessismistic. I just want go into this with realistic expectations. So, the more comments and discussion, the better. Even if it exposes my limited knowledge in this area. Nothing I stated was intended to be fact. It was just my opinion as viewed from afar, as it is, as I dont even begin until July.
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I think it's due to the aversion to risk of lost income due to coming from very safe career backgrounds and ags seem to start families much earlier than other school counterparts.
Not really all that tough or unbelievable IMO.jamaggie06 said:
So, in four years of working, you're going to have 100k saved u?. In addition to retirement savings? Any current student loans?
As a fresh graduate, what kind of salary are you getting already?
fightin16 said:jamaggie06 said:
Thats why I asked what your starting salary was.
WTF? I started out at $60k as a graduate engineer.
This just reinforces the troubling notion I've come to accept. Engineers are grossly underpaid.
Given the numbers your talking about, it sounds like new grads in other fields are making way more than I imagined. One of the main reasons I'm considering a career change.
On $60k a year, even if there hadnt been a great recession, theres no way I could have saved $20k a year after taxes in addition to a 401k coming out of school.
Kudos to you if a) you can or b) you're making substantially more than $60k straight out of school.
Another question, what are the benefits of an MBA for someone who already has a finance degree and is in IB already? Does it move you into upper management quicker or are you intending to change paths (entrepenuer?)?
Quote:
This is very short-term thinking, which makes sense why a part-time MBA would be for you.
jamaggie06 said:
If you don't mind, I have a few questions. I was just accepted to Rice's professional MBA program.
What school?
Full time or part time?
Are you still functioning in an engineering role, if so, in management? If not, did you transition careers? What to?
What has been the impact on your earnings and earning potential?
I am currently in engineering. I am considering changing careers all together if I can't transition into management. I have taken a liking to finance and financial analysis and this is where I am considering a career transition but have no formal education in business, accounting or finance.