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Considering doing an MBA.. Have made a shortlist of schools to apply for. But wondering what the value and return on investment is considering that there are increasing numbers of MBA's these days.
The premise behind taking one is to advance my career to an executive level, rather than staying in a specialist path. Being a specialist in Business allows for greater flexibility than being a specialist in a technology or alternative skill.
e.g. A Surgeon is a specialist in surgery, and if they wanted to move to another industry, they would find it very difficult to change.
One thing that is noticeable, at the executive level, the managers there are able to switch roles quite easily, as its a c ase of business management, i.e the head of marketing can switch to head of HR, Head of technology etc. Due to the nature of the roles at the top, being less detail, and more big picture focused.
I might add that MBA's costs vary from $20,000 -> $90,000 is the most expensive one i've seen. Obviously the reputation of the school affects the price.
From the $ signs and the huge price tag I'm guessing you're talking about a program in the States? If so, I'm pretty sure the school reputation matters. Places like Wharton, Kellogg, and Stern are probably golden tickets, provided you don't pull C's or low B's in core classes like finance.
It's been a while since one of my friends was after one of these, so I don't know if the market in the States is totally oversaturated with MBAs, or if it still offers big advantages to have one.
If you're not an American, or don't intend to work in America after graduation, I'd make really sure that I could get paid after I finished, since going to a good school here will cost a fortune. A girl I roomed with a few years back dropped $80,000 (at least) for two years in a Masters program in International Political Affairs, and couldn't find any good jobs when she graduated. She wound up going back to Japan, and her old job there. Cautionary tale.
Considering how much this could cost, unless you are ready to go work for the Man when you're done, you might not get full value. No sense in paying for Wharton if you're going to be co-managing a local beauty salon with your friend when you graduate.
The stats from the high rep schools seem to show that the ROI is quite good, but obviously competition for places are quite competitive. Although 1 advantage i have is that i'm not from a consulting or finance background, which increases the chances of getting in, as most applicants come from these areas, and with business schools desiring a higher diversity of students (i.e from different sectors).
I;m considering school all over the world, depends on what suits my circumstances, but more concerned with ROI than anything else. Don't want to be throwing money down the drain.
MBA's a reslightly different to other masters in terms of the specialism its aimed at, but the main concern is whther the market conditions are oversaturated with MBAs or not.
Originally posted by Hoista!:
MBA's a reslightly different to other masters in terms of the specialism its aimed at, but the main concern is whther the market conditions are oversaturated with MBAs or not.
I think the theoretical benefit of the name schools is that even if the market is saturated with MBAs, MBAs from one of the big schools are still rare (and prestigious) enough to stand out. So they shouldn't be affected by this problem.
I should also mention that I know two people that are currently getting paid obnoxious money to do finance (one is now a Morgan Stanley VP, and the other recently left there to join a private equity firm) and neither ever got an MBA. But the VP had an Econ degree from Cornell and the other person had a Political Science Masters from Columbia, so they had something to work with on their resumes. If you can get into a firm and then kick ass, not having an MBA doesn't really matter, AFAIK. The problem is getting a real job at a good firm without one.
One of the main advantages i can forsee, is the potential to create some strategic netowrls when attending such a school. As you are meeting and befriending potential executives for Fortune 500 companies when entering these schools. Which makes for a useful network
I've just finished my MBA (part-time). Handed in my dissertaon 2 weeks ago. I did it to increase my employability options, though I don't yet have the professional experience to back it up.
I definately don't regret doing it, although be prepared for it to take up a large portion of your life, especially around deadline periods.
Frankly, at the moment, I'm just glad it's over. In a few months, once the dust has settled, I'll start to think about what to do with it!
MBA - Is it worth it? 
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