At WHAT POINT do you need a MBA?

[Special K]

Originally posted by: JS80
If at the age of 28 (average age of MBA student?) you are willing to spend $200k for b-school and forgo 2 years of earnings power...well let's just say you most likely failed in your career.

So then under what circumstances would you go? Only if the company is picking up the tab?

 

[dbk]

My friend's doing MBA, but he was a CS major undergrad

 

[JS80]

Originally posted by: Special K

Originally posted by: JS80
If at the age of 28 (average age of MBA student?) you are willing to spend $200k for b-school and forgo 2 years of earnings power...well let's just say you most likely failed in your career.

So then under what circumstances would you go? Only if the company is picking up the tab?

Company pay, Part time MBA at a reputable school (i.e. UCLA FEMBA program), Top 10 MBA program, i-bank to mba transition.

 

[Special K]

Originally posted by: JS80

Originally posted by: Special K

Originally posted by: JS80
If at the age of 28 (average age of MBA student?) you are willing to spend $200k for b-school and forgo 2 years of earnings power...well let's just say you most likely failed in your career.

So then under what circumstances would you go? Only if the company is picking up the tab?

Company pay, Part time MBA at a reputable school (i.e. UCLA FEMBA program), Top 10 MBA program, i-bank to mba transition.

Do you lose out on the networking aspect by going part time?

 

[Capt Caveman]

Originally posted by: Special K

Originally posted by: JS80

Originally posted by: Special K

Originally posted by: JS80
If at the age of 28 (average age of MBA student?) you are willing to spend $200k for b-school and forgo 2 years of earnings power...well let's just say you most likely failed in your career.

So then under what circumstances would you go? Only if the company is picking up the tab?

Company pay, Part time MBA at a reputable school (i.e. UCLA FEMBA program), Top 10 MBA program, i-bank to mba transition.

Do you lose out on the networking aspect by going part time?

No, it's probably better since you're classmates also work.

 

[legoman666]

Originally posted by: Mo0o
From what I hear, if your MBA isn't from a top 10 school, might as well not bother and just spend the time beefing up the resume w/ job exp instead.

not entirely true, I go to the University of Cincinnati for EE and plan on getting my Masters, it is by no means a top 10 nor anywhere near the bottom, but just take a look at the numbers.

"According to a 2005 salary survey by the National Association of Colleges and Employers, bachelor's degree candidates in electrical and electronics engineering received starting offers averaging $51,888 a year; master's degree candidates averaged $64,416; and Ph.D. candidates averaged $80,206."

 

[krunchykrome]

my friend knows this person....my other friend's sister......my one friend....

An MBA can open a lot of doors for someone. May I ask, what is this position you currently share with your coworker (the one with the MBA)?

 

[Farang]

Originally posted by: legoman666

Originally posted by: Mo0o
From what I hear, if your MBA isn't from a top 10 school, might as well not bother and just spend the time beefing up the resume w/ job exp instead.

not entirely true, I go to the University of Cincinnati for EE and plan on getting my Masters, it is by no means a top 10 nor anywhere near the bottom, but just take a look at the numbers.

"According to a 2005 salary survey by the National Association of Colleges and Employers, bachelor's degree candidates in electrical and electronics engineering received starting offers averaging $51,888 a year; master's degree candidates averaged $64,416; and Ph.D. candidates averaged $80,206."

MBA =/= MA or MS

 

[legoman666]

Originally posted by: Farang

Originally posted by: legoman666

Originally posted by: Mo0o
From what I hear, if your MBA isn't from a top 10 school, might as well not bother and just spend the time beefing up the resume w/ job exp instead.

not entirely true, I go to the University of Cincinnati for EE and plan on getting my Masters, it is by no means a top 10 nor anywhere near the bottom, but just take a look at the numbers.

"According to a 2005 salary survey by the National Association of Colleges and Employers, bachelor's degree candidates in electrical and electronics engineering received starting offers averaging $51,888 a year; master's degree candidates averaged $64,416; and Ph.D. candidates averaged $80,206."

MBA =/= MA or MS

ah well ignore me then. It's late.

 

[thegimp03]

If you want to go into management in industry, an MBA will help you. It sets you apart from the rest of the crowd with BS degrees. By no means is this true in every situation, but say you get your bachelor's, get your 4-5 years of work experience, get accepted to a top tier b-school program, it will help you down the line.

If you have no drive to be in management or a C-level position (COO, CFO, CEO, CIO, etc.) or in a VP position in a fortune 500 company, then you don't need an MBA. The majority of the people in those positions, and more and more every day, are getting their MBA's.

This isn't to say that people with their bachelor's don't make it far, a lot of cases they make it into those C-level positions. However, competition is getting tougher for those positions, just because so many people are throwing money at 2 years at Harvard MBA, graduating, and instantly making $110k in some i-banking or consulting gig. IMO, a MBA will eventually become the standard for VP/C-level positions in fortune 500 companies.

An MBA isn't $200k either, more like $90k.

 

[Coldkilla]

edit: Nvm I think I'll make another thread for what I'm asking. It'll drag this wonderful discussion from its roots.

 

[KKR]

IMO, it's not worth it unless you plan on attending either a first tier or second tier school (although second tier is really pushing it). Otherwise, don't bother.

First tier: Harvard, Stanford, Wharton, Kellogg

Second tier: UChicago, Columbia, MIT

 

[Special K]

Originally posted by: KKR
IMO, it's not worth it unless you plan on attending either a first tier or second tier school (although second tier is really pushing it). Otherwise, don't bother.

First tier: Harvard, Stanford, Wharton, Kellogg

Second tier: UChicago, Columbia, MIT

The problem comes in if you don't happen to live and work near a tier 1 school. Then you have to choose whether to move to the tier 1 school and become a full time student, which has a huge opportunity cost associated with it, or stay at your current job and be a part-time student at whatever the best-ranked school is within driving distance of home/work.

 

[E equals MC2]

bump for the morning crowd.

 

[zinfamous]

Originally posted by: E equals MC2
My friend makes $80K doing IT consulting with a Bachelor degree (28 yo)
My other friend is in Project management and makes little shy of six figures (29 yo)
My GF's tutor student's mom is a VP of Finance making big big bucks just holding a Bachelor and being right place at the right time in a small company.

My friend holds MBA.. he currently makes $65K doing finance work.
My coworker holds MBA making $48K holding the exact same position as I.

I know Bachelor means nothing and it all comes down to your character... but same can be said for MBA? Then why would I need MBA?

b/c other MBA's need validation for their silly degrees? thus, they look to hire other MBAs, giving some sort of false credence to the community of MBAs

not to outright trash the degree, but in terms of actual training and knowledge, you'd get just as much educational benefit from a masters in Philosophy as you would an MBA. Hell, many of the Fortune 500 CEOs don't have MBAs....(I'm sure that's changing...)

 

[Elbryn]

Originally posted by: JS80

Originally posted by: Special K

Originally posted by: JS80
If at the age of 28 (average age of MBA student?) you are willing to spend $200k for b-school and forgo 2 years of earnings power...well let's just say you most likely failed in your career.

So then under what circumstances would you go? Only if the company is picking up the tab?

Company pay, Part time MBA at a reputable school (i.e. UCLA FEMBA program), Top 10 MBA program, i-bank to mba transition.

second this approach. if you're in the nice situation of having a company willing to pay for extra schooling, why not take them up on the offer. if nothing else, when the time comes for a promotion, you've got a general master's (mba's can be applied to anything) in the bag for HR. way i see it, if you dont take advantage of your company's education payback, its money on the table you're not taking.
i question why people go and get an mba when they could go get a pharm D.. i actually ask myself why i didnt do that 8)

 

[Delita]

LoL. This reminds me of this thread.

 

[MetalMat]

I would be interested in learning what is taught when getting an MBA, but I know for a fact that you are not guaranteed to make more money. Our app engineer here has an MBA and I make pretty close to what he does and I am younger.

 

[Capt Caveman]

Originally posted by: zinfamous

Originally posted by: E equals MC2
My friend makes $80K doing IT consulting with a Bachelor degree (28 yo)
My other friend is in Project management and makes little shy of six figures (29 yo)
My GF's tutor student's mom is a VP of Finance making big big bucks just holding a Bachelor and being right place at the right time in a small company.

My friend holds MBA.. he currently makes $65K doing finance work.
My coworker holds MBA making $48K holding the exact same position as I.

I know Bachelor means nothing and it all comes down to your character... but same can be said for MBA? Then why would I need MBA?

b/c other MBA's need validation for their silly degrees? thus, they look to hire other MBAs, giving some sort of false credence to the community of MBAs

not to outright trash the degree, but in terms of actual training and knowledge, you'd get just as much educational benefit from a masters in Philosophy as you would an MBA. Hell, many of the Fortune 500 CEOs don't have MBAs....(I'm sure that's changing...)

:laugh: I hope you're being sarcastic and not being a noob.

 

[Ns1]

Originally posted by: MetalMat
I would be interested in learning what is taught when getting an MBA, but I know for a fact that you are not guaranteed to make more money. Our app engineer here has an MBA and I make pretty close to what he does and I am younger.

management skills. communication skills. presentation skills.

if you're not a business major, you get a crash course in business: accounting, finance, marketing, etc.

 

[MetalMat]

Originally posted by: Ns1

Originally posted by: MetalMat
I would be interested in learning what is taught when getting an MBA, but I know for a fact that you are not guaranteed to make more money. Our app engineer here has an MBA and I make pretty close to what he does and I am younger.

management skills. communication skills. presentation skills.

if you're not a business major, you get a crash course in business: accounting, finance, marketing, etc.

That would interest me, I should have went into business rather than engineering.

 

[Svnla]

Gotta love some of these comments: (I don't think they did think when they typed those)

"....I figure MBA is pretty useless....."

"......mba doesnt mean much....."

".....I know someone going for an MBA, and at the end of their degree, they told me they learned as much from that book as they did in school....."

".....it's generally recognized that an MBA is worthless for everything..... "

".....A degree in business, well, maybe it's at least as good as some nicely quilted 2-ply toilet paper......"

"...From what I hear, if your MBA isn't from a top 10 school, might as well not bother .."

"...other MBA's need validation for their silly degrees.."

"...you'd get just as much educational benefit from a masters in Philosophy as you would an MBA. Hell, many of the Fortune 500 CEOs don't have MBAs..."


The fact is...... the majority of the big wigs (VP and up to CEO) of Fortune 100 companies have business or business related degrees. Not science.

Don't believe me? Do a search on the old thread and I did provide link and source.

Imdmn04 said it well..."nothing guaranteed in life, but a higher education will enable you to have a better chance to have a better life". Advance degree is just another tool. My degree is better than your degree = my dad can beat up your dad = silly.

What you learn and how you use your knowledge and experience to solve real life business problems FTW. Not your degree.

 

[JS80]

Originally posted by: KKR
IMO, it's not worth it unless you plan on attending either a first tier or second tier school (although second tier is really pushing it). Otherwise, don't bother.

First tier: Harvard, Stanford, Wharton, Kellogg

Second tier: UChicago, Columbia, MIT

Do you work for KKR?

 

[rsd]

The fact that this thread exists and the topic is heatedly debated upon, reinforces the fact that the type of people that frequent this forum (aka Engineers) aren't always as smart as they think they are

 

[JS80]

Originally posted by: rsd
The fact that this thread exists and the topic is heatedly debated upon, reinforces the fact that the type of people that frequent this forum (aka Engineers) aren't always as smart as they think they are

zing