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Is an MBA worth it?

13,395 Views | 76 Replies | Last: 6 yr ago by hangman
jamaggie06
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AG
Background, I have a BS and a Masters in engineering. I'm a bit if a math nerd and love the more analytical and technical side of my job, though, I rarely get to focus on or use much of either. That said, I am aware of career trajectories and limitations thereof if I stay in a truly technical role.

I have limited (virtually zero) knowledge of even general accounting and finance practices. Would an MBA be beneficial or could I be better served through self study work on business finance and accounting? Are there alternative certifications or the like that carry any weight?

My biggest concerns with an MBA are the time requirements and cost. $40,000 and giving up my evenings and weekends for two years is a large sacrifice if the benefits aren't truly worth it.

Anyone have actual experience they care to share?
I Drink Your Milkshake
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AG
Will your employer subsidize and support the decision or are you looking to move roles/companies?

I'm a CPA and did the Mays part time program in Houston and was very pleased with the decision. As an accountant I will freely admit I did not consider myself a natural leader and it helped me gain confidence to lead a team and gain confidence in public speaking situations.

The time commitment is a struggle and almost everything is done in a team so managing everyone's schedules and personal lives can be difficult. I would say to expect 15 hours a week outside of the classroom in prep.

ROI will vary with each person and the stage of their career. For me it was a four year payback in terms of salary increase and I think the A&M program runs about $80k. Curious which school you are looking at because I know Rice/UT/A&M are all near $100k now.
QBCade
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It really depends on the industry. I'm in high tech and it doesn't matter as far as getting a job or being promoted. That said, the real value in my industry is the connections you make in the programs. Many people start businesses together afterwards.

I don't have an MBA, but I have folks working for me that do. Some in our company do, but many exec staff don't - our mkt cap is $80+B.
Cyp0111
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Clear goal needed. It makes sense in certain instances.
ORAggieFan
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Totally depends. I considered one years ago, things worked out for me and I'm glad I didn't. If things hadn't worked out I'd probably have gotten one and be glad I did.
jamey
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I have science degrees and have worked in manufacturing managment and finance since 2004, but "finance" is very broad.

IMO the working knowledge is pretty easy so I'd say if you get an MBA it would be to open doors, not so much the knowledge


Accounting....nobody knows what those people do. I wouldn't worry about that.l
Duncan Idaho
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Cyp0111 said:

Clear goal needed. It makes sense in certain instances.

This, what oragfan and "go to a top 20 school or not at all" are probably the best advice you will get.

AgLiving06
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Duncan Idaho said:

Cyp0111 said:

Clear goal needed. It makes sense in certain instances.

This, what oragfan and "go to a top 20 school or not at all" are probably the best advice you will get.


Not necessarily the case on the "go to a top 20 school or not at all."

It still really depends on what the OP wants from the MBA.

If he plans to stay with his company and he wants to make his resume look better, he could probably get an MBA from most schools and "check that box" to improve his career.

If he's looks to change companies/career paths, then he needs to go to the best school possible within the constraints he has for himself (i.e. geography/full time/part time, etc).

It's really all about the motives of the OP.

If he just wants it for information, he'd be better doing free stuff on coursera or something to learn.
SlackerAg
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AG
If you're looking to do data analytics, some trading firms only care about the math/science pedigree. I also have a BS/MS in engineering & had a stint as a quant building trading models. The Chicago MBA I worked for who trained under Eugene Fama had no concept of proper risk management (had previous funds blow up) -- I actually learned a lot more on my own.
Joseph Parrish
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AG
It's likely worth it if you're willing to change companies. Some of these schools offering MBAs brag about the increase in salary will make the accelerate the payout, but that hasn't necessarily been the case for all of my friends that went after MBAs. Some companies have rules where they can't offer you more than a certain percent increase, and I think those rules may be even more strict on current employees in some instances. So it may be easier to chase the paycheck by changing companies.

But I also work oil and gas, and we've been in a lull lately. So that also plays a part. How healthy is the market you're chasing?
Cyp0111
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Its worked for friends that have gone top 15. UT is an absolute floor in this example and all went full time. All in...

Part time is a waste of money as premier slots are not offered for on campus interviews.

Wyoming Aggie
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Finished up my MBA in 2013 (top 50 program), and it has more than paid for itself in opportunity and income. I make well over 6 figures now (which, IMO, is one of the main reasons to get an MBA, earnings potential), but that's not really the reason why I went to get mine in the first place. I plan on opening my first business later this year, and I wanted to mitigate my risk as much as possible by knowing as much about business and strategy as I could. Since I didn't have a business undergrad, I really wanted to learn all about it.

Anyway, the point I'm trying to make is you don't need a top 20 B-School like many say to make it worth your while. There are plenty of fantastic programs out there outside of the top 20-30.

If you're looking to pursue one, make sure you have a clear goal in mind. If the pros of getting one outweigh the cons, then do it. That being said, I can't really think of a scenario where an MBA won't help you. It's applicable to almost any profession.
Dr. Horrible
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Mine was completely worth it. I met Mrs. Horrible there...
Joseph Parrish
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AG
I have heard from others that the networking is the best part of it.
Vernada
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Maybe this would be a better fit for what you like?

TAMU Masters in Analytics
jamaggie06
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Vernada, thank you! Very interesting. I'm going to research this a bit more.

As far as goals, this may be the lacking part, but I don't really have a single goal in mind. The reality is, I know where my career trajectory and subsequent pay top out and its honestly not too far from where I am. Thats my real concern. Thats why I've been pushing to move more into management and have participated in several lower level management-esque trainings.

As far as switching companies, thats a possibility, and likely the most likely outcome. Unless someone who got an MBA while working for a large engineering & construction company can put into words how it benefitted them. I have my concerns about how beneficial an MBA would be to my employer.

I am open to completely switching industries.
jamaggie06
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AG
And for reference, the $40k number I saw, was for UH. Is that program not worth it? Would I be better served by Rice? Grades and test scores likely wont be a problem (graduated cum laude, and when I took the GMAT years ago, I did really really well, though I would have to tale it again).
I Drink Your Milkshake
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UH is a good program if you plan to stay in Houston. Otherwise I'd do what other posters have suggested and go for a Top 20 for the reputation and networking. I knew I'd be soending my career in Texas so I did strongly consider the UH program but with your pedigree you'd be foolish not to apply to all the top schools Ivy's included. Then go from there.

You never know you could get a few schools that pay you to attend via grants or partial scholarships. It's a dating game that goes both ways- the best schools are the best because they pull the highest and brightest candidates.
AgLiving06
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jamaggie06 said:

And for reference, the $40k number I saw, was for UH. Is that program not worth it? Would I be better served by Rice? Grades and test scores likely wont be a problem (graduated cum laude, and when I took the GMAT years ago, I did really really well, though I would have to tale it again).

Yes, you would be better served by going to Rice. I graduated in 2013 and it was a great experience.

The Full Time MBA or Professional MBA at Rice are both great options. Rice designed the program such that the classes are interchangeable and depending on schedule you can take pretty much any class you want in year 2.

Either would allow you to change careers if that's what you wanted.

The main difference between the two is that the Full Time students almost always get scholarships (and internships), whereas the Professional program generally assumes your company is paying for part of it.
nu awlins ag
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jamaggie06 said:

And for reference, the $40k number I saw, was for UH. Is that program not worth it? Would I be better served by Rice? Grades and test scores likely wont be a problem (graduated cum laude, and when I took the GMAT years ago, I did really really well, though I would have to tale it again).
I looked at A&M in Houston recently. No GMAT needed. They interview you etc., and look into your work history and whether or not you would be a good fit for the program. This is a professional MBA program and is about 2 years or so. I've been in technical sales/operations for 20+ years and was wanting to do more on the financial side of things. It all depends on what YOU really want to do and IF it would be worth it. As mentioned, the connection side of things is the real key. I worked with a guy that went to Rice for their MBA program. He wanted to work in the private equity area. After 8 months of that, he quit and went back into the O&G industry. Maybe it will pay off down the road, but as of now he's not benefitted from it.
Dr. Horrible
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jamaggie06 said:

And for reference, the $40k number I saw, was for UH. Is that program not worth it? Would I be better served by Rice? Grades and test scores likely wont be a problem (graduated cum laude, and when I took the GMAT years ago, I did really really well, though I would have to tale it again).
The single data point I have for UH was a guy from my MBA class that failed out (and probably should have never been there in the first place) ended up going to UH the following year and getting his MBA there. That observation has caused me to question UH MBA quality, justified or not.
I Drink Your Milkshake
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Quote:

No GMAT needed.

  • Competitive GMAT or GRE scores: Candidates must have taken either the GMAT or GRE within the past five years and scored at the 50th percentile or higher on both the verbal and quantitative sections.

I hope what you are saying is false, Mays should not be waiving testing requirements.
74OA
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AG
FWIW
hangman
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Most schools have much less stringent requirements for the part time programs. Rankings are determined by the full time program. Mays full time Mba does require the gmat and the avg is 650 which is 76th percentile. Part time programs are the cash cow they just want to let anyone in that can afford it.
AgLiving06
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Most business schools have started accepting a GRE in place of a GMAT, but I haven't seen many willing to accept a student without either. I'm sure there are exceptions though.
Pickle Rick
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Lots of truth, and some myths in here. I'm an MBA at at a top tier program. Feel free to shoot me a PM if you would like to discuss.
TAMUallen
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I've been toying around with the thought of MBA for a while now and have heard it all.


Sure online or distance MBA doesn't give you the networking and there are those who will say the rankings matter but...

My question though is how do all of yall feel about an online MBA, AACSB accredited, for roughly $14k?

I mean I'm trying to see how that isn't a solid bet as good resume builder since it is freakishly cheap

Joseph Parrish
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I still think there's value in getting it from the most reputable institution you can. If places are handing MBAs out like candy, companies will notice.
jh0400
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TAMUallen said:

Sure online or distance MBA doesn't give you the networking and there are those who will say the rankings matter but...

My question though is how do all of yall feel about an online MBA, AACSB accredited, for roughly $14k?



What school?
TAMUallen
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jh0400 said:

TAMUallen said:

Sure online or distance MBA doesn't give you the networking and there are those who will say the rankings matter but...

My question though is how do all of yall feel about an online MBA, AACSB accredited, for roughly $14k?



What school?


LSU Shreveport. They advertise it being $11,874 but from what I've read it is much closer to actually 14,000
jh0400
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AG
TAMUallen said:

jh0400 said:

TAMUallen said:

Sure online or distance MBA doesn't give you the networking and there are those who will say the rankings matter but...

My question though is how do all of yall feel about an online MBA, AACSB accredited, for roughly $14k?



What school?


LSU Shreveport. They advertise it being $11,874 but from what I've read it is much closer to actually 14,000


That's got to be slightly better than U of Phoenix, but not by much. You get one shot at an MBA. My opinion is that it's not a good idea to waste it on a degree from an online directional school.
I Drink Your Milkshake
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Quote:

Part time programs are the cash cow they just want to let anyone in that can afford it.
Some truth to this. Yes, GMAT scores are lower, on average, for part time programs. That said, it says an awful lot about someone (from a hiring manager's perspective) willing to balance a career, family, and school simultaneously. Part time programs are also more expensive for the very reason the student is not foregoing income for two years. If you are making $100k and choose a part time program which costs $100k, versus making $0 in a full time program which may cost $40k, which is the cheaper program?

Quote:

LSU Shreveport. They advertise it being $11,874 but from what I've read it is much closer to actually 14,000
In a top 10 school, the value is the reputation, you'll get a job based solely on the fact that people know that school. In a top 25 school, the value shifts from reputation to networking with an active alumni base who are, at least hopefully, making hiring decisions in the workplace.

Ask yourself, does an online MBA from LSU Shreveport offer anything in regards to reputation or networking? Likely not.
Thriller
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AG
Thoughts on the Harvard Program for Leadership Development? Not a true MBA, but the graduate is an alum of HBS when done and gets the networking opportunities as well.
Joseph Parrish
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Thriller said:

Thoughts on the Harvard Program for Leadership Development? Not a true MBA, but the graduate is an alum of HBS when done and gets the networking opportunities as well.
The Harvard name alone should be an attention grabber.
HeightsAg
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Depending on who you are talking to. Maybe the average Joe will be impressed but any company that regularly hires top MBAs know that these certification programs are BS. And that goes for non daytime/full time programs as well.

That doesn't mean there's no value in them especially if you are able to augment your skillset, but they likely won't appreciably increase your ability to switch careers or command a huge jump in salary so be intentional about why you are getting one.

Just my opinion as someone who attended a top MBA and now works in Strategy Consulting (think McKinsey) and is the campus lead for my business school.
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