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Old 01-28-2009, 06:28 PM
 
Location: Virginia
931 posts, read 3,569,038 times
Reputation: 447

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The economy is going down the tubes, and finance jobs are hard to come by. What better way to make myself more competitive and to differentiate myself from other applicants than to obtain a MBA.

I have my BS in Finance and have about 2 years worth of part-time work experience while doing my undergrad studies, and 1 year of full-time work experience with a fortune 500 company.

I want to start a part-time MBA program. The good news is: my employer will pay for about 85% of it, which is a great deal! The bad news is: I don't know if this will be good for my career and I don't know if I will be able to handle working full-time and going to class at night.

Anyone here doing a part-time MBA?
How are you doing so far?
Is it worth it?
Have any recommendations?

I am only 23, don't have much work experience, but by the time I graduate, I'll have 4 years of great work experience at a great company along with a MBA!

Thanks.

Last edited by oleo; 01-28-2009 at 07:17 PM..
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Old 01-28-2009, 06:32 PM
 
3,853 posts, read 12,074,682 times
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since the company is paying for most if it I would say go for. If you were paying for it I would say no way!
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Old 01-29-2009, 12:58 AM
 
Location: Charlotte, NC
2,193 posts, read 4,697,386 times
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I don't know. What do people learn when they get their MBA? What can you do after you graduate with an MBA? What will be your expertise and what kind of jobs can you apply for?

A couple years back I had thought about an MBA, bc it seemed like the 'thing to do.' But I couldn't figure out what I'd actually learn and what kind of job I'd get after graduation.

I even asked one of my friend's who is in the middle of one and he didn't have an answer! :O He said he didn't think that far ahead. While his company is paying a portion of it, he still is paying like 30% of it. A lot of money to shell out while not having a plan in mind...

Maybe someone can enlighten me on the purpose of an MBA.
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Old 01-29-2009, 07:01 AM
 
Location: Houston, TX
17,031 posts, read 28,306,046 times
Reputation: 16222
Not a bad idea if the company is paying for it. I wouldnt be surprised if that benefit is cut, or they have you sign a 5 year work clause.
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Old 01-29-2009, 07:27 AM
 
Location: Visitation between Wal-Mart & Home Depot
8,308 posts, read 36,325,533 times
Reputation: 7130
A wise man will accept free money from a company when it is offered.
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Old 01-29-2009, 08:32 AM
Rei
 
Location: Los Angeles
494 posts, read 1,675,606 times
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Quote:
Maybe someone can enlighten me on the purpose of an MBA.
Having an MBA on your resume increases the chance for you to get more interviews.
Consider it as an upgrade to your weapon arsenal, whether you will use it or not.
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Old 01-29-2009, 09:35 AM
 
339 posts, read 1,436,146 times
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Yes, there are part-time MBA programs out there. There are also Executive MBA programs which are offered on weekends only. They are marketed toward the executive who wants to get an MBA while still working full time. Theses programs are generally more expensive.

An MBA prepares you to manage businesses so companies need to be hiring for managers (or you can branch out as an entrepreneur) to effectively use this degree.

Over the years I seem to have heard the same basic line over and over, "I'll just go get an MBA." And more recently, with the state of the economy, remember there are probably many people in the same boat as you right now and thinking similar things. So my concern, really, would be what is going to set you apart from all the other people with MBAs. I haven't really looked at any hard facts/stats on the number of MBAs out there and/or the number of new enrollment applications to MBA prorgrams, but that might be something to consider too, because I do think it will be going up. During ressessions, university enrollments tend to go up.

If you can do an advanced degree in something that is more like a niche area than a general area, I think you will go further - maybe statistics, mathematical economics, etc. Plus you will have more employment options/directions in case the financial sector takes longer to recover than you anticipate.

Good luck to you whatever you decide.
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Old 01-29-2009, 10:09 AM
 
28,461 posts, read 76,586,922 times
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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...
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Old 01-29-2009, 03:11 PM
 
Location: Virginia
931 posts, read 3,569,038 times
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There are several reasons why I would like to pursue a part-time MBA:

I think an MBA will help me achieve my career goals whether I am still employed with my current employer or if I leave and work for another company. I want to make myself more competitive and differentiate myself from others.

Everyone has a bachelors degree, and now just about everyone has a MBA. I'm still young, have the time after work to go to class, and having my company pay for the the majority of it is a huge incentive. Just about all the jobs I applied to listed "prefer MBA" so I know I am basically competing for jobs that are being filled by people that hold a higher degree than me.

Furthermore, the university I would like to attend is very convenient with it being located only 15min away.

Not that I don't like working for my current employer, but because of my average undergraduate performance, I didn't have many options when choosing what company I wanted to work for. I am grateful for what I have, but I think in the long run, an MBA coupled with an excellent GPA will give me more opportunities in the future.
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Old 01-29-2009, 03:14 PM
 
Location: Virginia
931 posts, read 3,569,038 times
Reputation: 447
Quote:
Originally Posted by Oildog View Post
Not a bad idea if the company is paying for it. I wouldnt be surprised if that benefit is cut, or they have you sign a 5 year work clause.
I work for a company that is under conservatorship by the government, so I doubt that will happen. There is no work clause associated with it.

All I have to do is complete the courses, get an A or B grade, and then they will reimbursement up to a certain amount, annually.
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