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I'm getting ready to move again with my job and I am considering getting my MBA to try and land a higher paying, more stable position. I was "fortunate" enough to earn my undergrad debt free being one of the 0.45%. I'm concerned though that an MBA just isn't going to produce a ROI that makes the cost of earning such a degree worth the risk. I do not want to join the ranks of the overeducated and underemployed/unemployed with a large amount of student debt hanging over them. I graduated six years ago from college and a lot of the positions I am starting to see that interest me have MBA preferred in their additional qualifications. I always wonder if they really hire someone with an MBA and what they end up paying for that individual with an MBA?
This is the program I am considering going into below
University of Louisville College of Business - MBA Program Info (http://business.louisville.edu/content/view/720/939/ - broken link)
I got mine paid for. I went part time at night and my employer at the time paid for most of it.
That said, is it worth it? Only if you are in a field that requires it. Otherwise, truthfully, no. Not at all.
Put it this way: In my last company I was reporting to a guy 10 yrs younger who didn't have a college degree. There I was with my MBA and 20 years experience, relegated to a low level workerbee job. But I did my job and did it well and did not complain and was just happy to have a job.
When it came time to do layoffs, guess who Mr No College Degree chose? Yep, me.
Sometimes having an MBA is a bad thing, especially if you find yourself reporting to a manager who feels threatened. It happens.
Weigh the decision carefully and don't foot the bill yourself!
Correct. One needs to know why they want the degree and what they plan to do with it. It's worth it if you don't have to pay for it -- I mean it takes a lot of time and effort, but if you can do it on someone else's dime that is the best way.
However, having an MBA is no guarantee of anything. It may help, it may hurt, and it may have zero impact at all. It all depends.
My personal opinion, if you don't have to pay for it, it is worth it. If you do have to pay for it, it isn't worth it unless it is a top-20ish school. If you are paying for it yourself, get into one of these programs:
1 University of Chicago (Booth)
2 Harvard University
3 University of Pennsylvania (Wharton)
4 Northwestern University (Kellogg)
5 Stanford University
6 Duke University (Fuqua)
7 University of Michigan (Ross)
8 University of California - Berkeley (Haas)
9 Columbia University
10 Massachusetts Institute of Technology (Sloan)
11 University of Virginia (Darden)
12 Southern Methodist University (Cox)
13 Cornell University (Johnson)
14 Dartmouth College (Tuck)
15 Carnegie Mellon University (Tepper)
16 University of North Carolina - Chapel Hill (Kenan-Flagler)
17 University of California - Los Angeles (Anderson)
18 New York University (Stern)
19 Indiana University (Kelley)
20 Michigan State University (Broad)
I think an MBA is worth it, but don't do the high cost "weekend" program. See if your emplouer will pay for any of it. If not, see what community college business and math classes you can take prior to enrolling in the MBA, then, take the night class route, that may take three or four years. Don't do the 18 month, high expense route.
After all, if I am hiring, and two people want the same job, all things being equal, I will pick the person with the MBA. You may not see the value in pay right away. But you will when you are older, and supervising peers, who did not get an MBA.
I think an MBA is worth it, but don't do the high cost "weekend" program. See if your emplouer will pay for any of it. If not, see what community college business and math classes you can take prior to enrolling in the MBA, then, take the night class route, that may take three or four years. Don't do the 18 month, high expense route.
After all, if I am hiring, and two people want the same job, all things being equal, I will pick the person with the MBA. You may not see the value in pay right away. But you will when you are older, and supervising peers, who did not get an MBA.
If your company has a set tuition reimbursement plan it is unlikely it will cover the whole thing in less than 3 years but it is still the right time and age to do it, especially if your GMAT aptitude is there, at a smaller school, who knows you could get some of it free.
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