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Hi all. Like much of NYC, I was laid off a few months back. Also like much of NYC, I am having a very difficult time finding work even though I have some strong companies/experience on my resume. I am debating what to do since I have a toddler and a husband who actually still has a job (luckily) and I'd be 36 when I started school.
So, I'm trying to figure out how to best make use of this time even though school and childcare are expensive. Here are the questions I've been asking myself:
1. Is an MBA "worth it" or is "waiting it out" more economical?
2. Will an MBA help me to branch out into other areas instead of being pigeon-holed into my current job experience (equity research and IR, but am interested in the buyside and private equity)?
3. Should I just change directions completely and pursue a degree in something completely unrelated to any of my background because I have a chance to follow other interests?
36 is not too old to pursue an advanced degree in my opinion. I was 33 when I entered a MBA degree program and I knew another person who was 35. There could have been even older students. As for the degree, it did allow me to break into new fields related to my new degree, although I initially went with a company related to my undergraduate degree, but in a different line of work. As to switching to an unrelated field, that's entirely your choice and can be worth it, but realize you'll be starting at the beginning when you graduate.
I say go for it: turn lemons into lemonade. This is your opportunity to earn a Master's--you may not get another chance. An MBA is definitely going to be an asset in your field, and it will give you a chance to expand your current field. I wouldn't switch to a completely unrelated field, unless there is something in particular that you would absolutely love to explore, or an opportunity that you know is once-in-a-lifetime. Another thing to consider is how prospective employers will view how you used your downtime; many will be impressed that you took the initiative to get your MBA, and thereby used your downtime productively to increase your knowledge and expertise.
Actually, I think your age is a big advantage. I have guest lectured at several MBA programs around the region, and found that roughly half the students were people in your situation who wanted to take their experience and give it added juice, while the other half were really young people who didn't have the slightest clue about what business really was.
I think you'll be at a serious advantage with both your experience and maturity, which will then probably gain you a large number of contacts. Do it!
Hi all. Like much of NYC, I was laid off a few months back. Also like much of NYC, I am having a very difficult time finding work even though I have some strong companies/experience on my resume. I am debating what to do since I have a toddler and a husband who actually still has a job (luckily) and I'd be 36 when I started school.
So, I'm trying to figure out how to best make use of this time even though school and childcare are expensive. Here are the questions I've been asking myself:
1. Is an MBA "worth it" or is "waiting it out" more economical?
Probably "worth it" and a good time to do it, to boot! (What with no job)
2. Will an MBA help me to branch out into other areas instead of being pigeon-holed into my current job experience (equity research and IR, but am interested in the buyside and private equity)?
You should talk to an advisor at the school(s) you are considering about that.
3. Should I just change directions completely and pursue a degree in something completely unrelated to any of my background because I have a chance to follow other interests?
Thanks.
If there is something else you would like to pursue, it might be the time to do it. If you already have a degree, it might not take any longer than getting the MBA to get another BS or a master's in something else.
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