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My objective... study my interest in Finance and to add business-related skills which will compliment my current masters. I know exactly the types of classes I want to take, and they closely resemble the MBA program with a concentration in finance and a few electives. However, I wonder if there is a university which would let me custom design my own interdisciplinary masters program.
I know a lot of schools do custom MBAs where you take the core classes and design your own concentration - not sure about an interdisciplinary masters unless you find some kind of MS Management/MS Finance program that allows for a lot of leeway with courses.
If you already have a masters degree, an MBA or another masters probably won't make much difference.
Want to get promoted faster? Do your job well! Ask for more responsibility. Tackle some headaches for your group. Set goals for advancement and share them with your boss, ask what you need to do to get promoted. And don't forget the importance of networking - get to know the managers inside and outside of your group.
Good luck.
I agree with this. If you want to get another Master Degree - which MBA is one of the only degrees worth it over a real estate Masters Degree - get into a top 10 school. If you can't get into a top ten school, don't waste your time or money. The person with the most degrees does not win. They just carry a lot of debt. Don't limit yourself by becoming overqualified. I have friends that don't list their Masters Degrees on their resume because they are passed over for job opportunities because of it. I think it would be best to evaluate what you really want to do - and get experience in that field before you further your education. Good Luck!
I agree with this. If you want to get another Master Degree - which MBA is one of the only degrees worth it over a real estate Masters Degree - get into a top 10 school. If you can't get into a top ten school, don't waste your time or money. The person with the most degrees does not win. They just carry a lot of debt. Don't limit yourself by becoming overqualified. I have friends that don't list their Masters Degrees on their resume because they are passed over for job opportunities because of it. I think it would be best to evaluate what you really want to do - and get experience in that field before you further your education. Good Luck!
There's a lot of generalizations here. Also, the OP DOES have experience and is looking to move up in his/her current field.
First off, there are a lot of good schools/programs to go get an MBA or other Masters at that aren't "top 10" but are still worth the time/effort/money. There's a very big difference between any other AACSB business school and something that's NOT AACSB accredited or something like DeVry or U of Phoenix. I would argue to not waste your time at a non AACSB school but going outside the generally considered "top" schools is often worth it for specialty programs that they sometimes offer - particularly if there's strong industry connections and it's the next logical step in what you've done or what you want to do.
If you're going part-time while working full-time and are looking to advance in the same field - rarely, if ever, is the expense of a "top school" worth it (and then only if it's a feasible commute/schedule with working and you're getting full or near full reimbursement from your employer.)
Degrees serve one purpose - they get your resume past the initial round of HR screening. What you bring to the table regarding work experience, initiative, attitude, dedication goes a LOT further. Unfortunately it's very difficult to move up the ladder without the actual piece of paper, which is why so many people (particularly in a down economy) go back for something. The goal when selecting where to go to school isn't just ROI but also "bang for your buck". Most people (even in this economy) can't just stop working entirely and shell out $100K+ to go to a top business school for two years. Sure, if you want to make a drastic career change or giant jump this is probably the best place to make that kind of gamble but that's not what the OP is talking about here.
Just having a degree from a top school doesn't mean much if you can't back it up with other skills/networking/experience. I had a classmate who went to Yale and graduated with honors and still couldn't break into the pharma industry (I went to a respected but obviously lower ranked liberal arts school graduated the same year and DID break in). I have several friends who graduated from the MBA program at Rutgers with top job offers and know a guy who went to Stern, graduated with honors and has been unemployed for over two years. The degree itself doesn't mean a lot unless you know going into it what you want to do with it, how you want to use it and where you want it to take you - and then be willing to put in the work, effort, time, etc to help make things happen for yourself (particularly in this economy where if you're not persistent you're not going to have much luck.)
An MBA or additional masters WILL make a difference if you know what you plan on doing with it. There's a big difference between an MBA, MS in Software Development, Master of Engineering, MSN, MSW, etc and some vague masters in liberal arts which doesn't explicitly qualify you to DO anything. (Okay before someone says something - yes you can teach at the comm college level with these as I have a friend with a MS History that does that but there's not a lot of demand for those jobs and I think most would say that's not a great career path with a lot of stability or good benefits.) I personally love philosophy and took it as a second major in undergrad. If money were no object and I could study something for the sake of studying it - I'd definitely go for a grad degree in philosophy. However, as there's really no market for someone with an master's in philosophy compared to the expense and time of getting the degree (even in a good economy), I'm not going to waste my time/money doing that.
There's so many blanket statements people sprout on this forum about college and I really have to wonder if some of the posters have done research or have ever gone to any post-secondary education at all.
If I was already $75k in debt, I would not spend the money on a 2nd masters degree (especially since you're not looking to change careers and don't expect significant financial gains from it). If you're only looking to complement your current skills, take a few finance courses as a non-degree student. Or hell, even enroll in a certificate program (such as the CFP course that was previously mentioned). Either way would be cheaper than paying for another degree.
Have you looked into the CFA designation? In the world of finance, it's as good as a masters and better than an MBA. It's much cheaper, but you'll have to find a lot of motivation and discipline to see it through. There are prep classes you could take to supplement the study material provided by the CFA institute.
I have decided against pursuing an MBA degree as a second masters at this time. None of the universities in my area really impressed me plus I have 75k in student loan debt. However, the door is still open as I may relocate in the future and find a program I feel real confident about.
I will pursue the CFA designation instead. I'll also join a professional association in my field and work towards certification. Finally I'm considering graduate certificate programs or just taking classes as non-degree seeking student. Although there are many areas in which I would like to study, the one that is most critical to my career is to develop excellent public speaking abilities. Right now I'm average in a career that requires communication of complex issues to a wide variety of audiences. I guess I'll try Toastmasters a try and then look to the colleges. Anyone have any ideas specially on public speaking? This is something I would be willing to hire a tutor.
I have decided against pursuing an MBA degree as a second masters at this time. None of the universities in my area really impressed me plus I have 75k in student loan debt. However, the door is still open as I may relocate in the future and find a program I feel real confident about.
I will pursue the CFA designation instead. I'll also join a professional association in my field and work towards certification. Finally I'm considering graduate certificate programs or just taking classes as non-degree seeking student. Although there are many areas in which I would like to study, the one that is most critical to my career is to develop excellent public speaking abilities. Right now I'm average in a career that requires communication of complex issues to a wide variety of audiences. I guess I'll try Toastmasters a try and then look to the colleges. Anyone have any ideas specially on public speaking? This is something I would be willing to hire a tutor.
Probably a good choice. I have an MBA, and it has served me quite well in my career switches. But I can tell you from experience that the greatest factor in the rate of your promotions will have relatively little to do with your MBA; it will simply have to do with your accomplishments relative to your peers. And that's driven by a lot more than just book-smart credentials - it has to do with your ability to drive decisions and results through other people, which speaks a lot to your personality and diplomacy. I work in the corporate world, and I know people who have far outpaced me and others with just a BS in accounting.
That said, the CFA is a heck of a tough and long haul...so be prepared to study a ton! If you want to go into investments, then it can be a big help to you.
CFA is one heck of a certification to take on but given your earlier post it might serve you better in the nearer term than committing to a full MBA. Still, the idea of that test gives me the shakes and I'm not even concentrating in finance. Good luck!
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MBA Alternatives
