Is It Worth It: Second Bachelors then Dual Masters? (PhD, doctor, master degree)

[JR03]

I'm currently in my senior year in college and will be graduating in May with a BSBA, majoring in Real Estate. I chose this program because compared to my other option, Urban Studies/Urban Planning, it would take less school to get a decent paying job. Ideally, I would like to work with the redevelopment of commercial properties, specifically in Detroit. While I like the business and design aspect of redeveloping properties, I am also very interested in the social aspects related to redevelopment and the impact they have on communities, which is why I really liked the career in Urban Planning.

I'm now debating what to do next:

A) Get a job with a real estate company that focuses primarily with redevelopment and be satisfied with the business aspect of redevelopment.

or

B) Get a second bachelor's degree from another university in Urban Studies/Urban Planning, and then proceed to a dual degree master's program, Master's of Urban Planning/Master's of Business Administration.

Right now I'm leaning towards option B because I enjoy school, I am really interested in learning about urban planning and other urban studies, and having that many degrees would be quite an accomplishment. It would then give me the tools and education to feel confident enough to one day own my own Redevelopment/Urban Planning firm, while being highly marketable right now. On the other hand, I'm not sure how cost-effective it is to complete that much more schooling and if it will even make a difference to employers in the short term.

[K-Luv]

Option B seems a bit overkill, but then what do I know about urban planning?

A friend of mine got a degree in urban planning from the University of Minnesota. He went straight to work in a local city government as an urban planner; really loved his job.

I would go with Option A, stick with that for a few years, then get the Masters in Urban Planning after I had a substantial amount of experience under my belt. I would skip the MBA unless it was absolutely needed for career advancement (many CEOs and entrepreneurs forgo MBAs).

If I wanted to go for a "business" or leadership type of Master degree, I would go for something in policy management: urban policy, or the like.

That is what I would do.

[theoldnorthstate]

get a job, if you can (saying only because I don't know the market for your services)

[NJBest]

IMO, option B suffers significantly from diminishing returns.

[lilyflower7]

In 95% of cases a second undergrad degree is a waste of time. The exception is if you're going into a field where a direct bachelors is required (ie, nursing) or your undergrad degree was so drastically different that you'd have to do a second degree to get into a grad program (ie, you went to school for liberal arts and now want to get a master's in engineering.).

For most people though, a master's is a better choice. Although I agree with the posters upthread that say you should TRY to get a job first - because work experience counts for so much in this economy.

[Huckleberry3911948]

there is no way you are going to earn enough with those degrees to merit what you will have to put out to get them. no way.
the burning HR question, sir can you please explain to me why someone with a recent PHD and is 50, has never worked above level of clerk?

[lilyflower7]

Also feel is my duty here to point out that MBA tuition is RIDICULOUSLY expensive and that a dual degree (where you do an MBA and something else at the same time) generally runs at least 70 credits. A bargain for an MBA is $1000k/credit so you're looking at $70K in tuition MINIMUM for the grad degree. This is after a second undergrad degree as you stated so you're easily talking $100K in tuition ALONE and by the time you factor in living expenses you're going to be taking on med school level debt without the prestige of being a doctor or the salary that comes with it.

I can't speak to what the starting salary is in that field but unless you're talking at least $100K this is NOT worth it.