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Career path is a big factor and so is quality of the program. I know folks with MBAs that made poor choices in their career path and/or went schools without much of reputation/network and saw little gain for their efforts.
Contrast this to someone who lays out a good (but realistically achievable) career path, goes to the BEST school they can and their income can soar. If you are working inside a financial type firm NOW the key is to get the kind of assignments that will be a foundation for bigger things. Even if tough times there are projects that will improve the position of the firm and those who work on them will have a huge leg up. Combine work achievements with a solid education from a well regarded school and you could be WAY ahead.
On the other hand, skulk around in the no recognition areas of the firm and even going to a great school is not going to help in the long run...
I know I want to stay in finance, whether it is corporate or investment banking. I would concentrate my part-time MBA in finance.
I don't want to go to the best B-School in America. I'm not that type of person, I don't want to spend that kind of money, and I'd have to quit my job and move to go to school there.
The school I want to go is regarded as a "good" school in my state. I think they have a great program and they are getting more popular because of it.
My plan is to work really hard at work as well. There is lots of opportunity for growth at my firm, especially in the department I am working in. I have learned that other people who started in my position advanced quickly and have done really well. Hopefully I can follow in their footsteps.
Yeah, I think the combination of MBA and a solid 3-4 years of work experience will really give me a leg up for my career goals.
You can't have too much education. I would (and did) it even if the company wasn't paying for it. Took me 3 1/2 years going evening and weekends. Cost me a ton of money, but worth every penny. I have more than made back the initial cost through increased income.
So here is an interesting read related to MBA Studies. I didn't have the stats on the number of MBA graduates back in January but this articles mentions that >150,000 were awarded between 2006 and 2007. More recently though, MBA students and graduates are urged to be more open-minded about the kind of jobs they are expecting to get.
MBA students seek backup plan in tough times - Feb. 13, 2009 (http://money.cnn.com/2009/02/13/news/economy/mba_worry.reut/index.htm?postversion=2009021312 - broken link)
So here is an interesting read related to MBA Studies. I didn't have the stats on the number of MBA graduates back in January but this articles mentions that >150,000 were awarded between 2006 and 2007. More recently though, MBA students and graduates are urged to be more open-minded about the kind of jobs they are expecting to get.
MBA students seek backup plan in tough times - Feb. 13, 2009 (http://money.cnn.com/2009/02/13/news/economy/mba_worry.reut/index.htm?postversion=2009021312 - broken link)
Good read.
Well, I've got no debt and don't plan on incurring any, anytime soon. I'm planning to start about a year from now and it will take me about 3 years to complete the program...it will be 2013 or 4 years from now. I'm also not looking to go into investment banking or looking for a huge salary increase.
Since my company is paying for the majority of it, I'll really have no problem paying for the rest.
Well, I would do it only because your company is paying for it and it can't hurt. But, really MBA's are only worth anything if they are from a name school or if you are established in a career and need to get ahead to the next position...ie. an executive MBA when you are much older. If you're not looking for a big salary boost then go for it, if you are consider taking the time to do a full time MBA at a good school (Darden is right down the road!).
All of that said I have friends with Dartmouth, Stanford, NYU, and Yale MBAs who are all in finance in NYC and are all unemployed at the moment.
I finished my MBA when I was 26. I worked full-time and went to school full-time (because I took six credits each semester I was considered a full-time student). I attended classes three hours a night, two nights a week, for two calendar years. In the midst of everything I was a newlywed. During those two years we built and moved into our first home and started a family (our daughter was born about five months after I graduated). It was tiring sometimes, but looking back I wouldn't have done it any other way. Now I don't have to worry about juggling work, family, and school and wonder "what if".
Like you, my employer at the time offered tuition reimbursement. I say go for it while you're young, because it'll be harder once you have a family and other responsibilities.
Just the other day I had some thoughts on continuing my education and either 1) getting a Masters in Aero/Mech Engineering or 2) Getting an MBA in order to get out of my current industry (it's not that I dislike it, it's just so cyclical).
Then I thought about it....tons of people are going to be taking this opportunity to get an MBA...such a common degree. How would I distinquish myself with such a bland degree?
...and then my company decided to cut costs by elliminating the tuition reimbursement program.
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