Why I'll Take my Chances and Stay in School

•  
  davidcorcoran@...10/23/07 Report as spam
  1

  Cherish work and working up the ladder!

  Jenna, your conclusion is excellent. Thank you for bringing it into the open.

•  
  sptrob10/23/07 Report as spam
  2

  RE: Why I'll Take my Chances and Stay in School

  From a CEO of a private company (T/O $300m p.a. & 20 staff) - It never ceases to amaze me that MBA's, and the like, state they are driven with the desire to leap into positions of high responsibility with the ensuing salary, many others talk of seeking out high incomes and creating wealth through business enterprise etc. If they were so switched on, and that reasoning was reality, then they would rather focus on determining where the big money can be made instead of side-tracking into educational courses and seeking employment. Does an MBA create a person with no risk or expertise to open their own business or trade up and jump in the deep end? One of the bigger money earners in the world is Foreign Exchange and Commodity trading, big bucks, big risks, big balls. How many MBA's are in that field of pursuit. Either they are all dreadful liars or totally misled.

•  
  ddavids7510/23/07 Report as spam
  3

  Re: Why I'll Take my Chances and Stay in School

  Interesting perspective - I can't tell if you think an MBA is a good idea or a bad idea. As a business owner, my reason for pursuing an MBA had nothing to do with getting a better job ? I have the best job I could have right now. What I hoped to gain from it was a better understanding of business principles and practices ? tools to help me run my business better. I was not disappointed. I feel like I learned volumes from my MBA program experience at UMUC and appreciate having done so. That said, the one area I believe most programs could be enhanced in is the options it provides to those interested in a more entrepreneurial focus. Like said, I learned volumes during the course of my MBA studies, but I felt like most of the exercises and activities were geared more towards big business and corporate America. But running my small business everyday, I know there are volumes more to know regarding how to start a business and how to approach the decisions that will help sustain and grow that business. In my mind, the biggest thing is being able to apply what you learn to what you're doing right now. Throughout my MBA experience, I found that what I was studying directly related to something going on in my life whether it was work or church or even vacation (i.e., exchange rates). So, as people go through MBA programs, it's important to consider how what you're learning applies to situations you're in right now. There's no reason why you can't start using your new skills right away.

•  
  FredinNZ10/23/07 Report as spam
  4

  SHould be more to it than chance

  Hi. I went to NZ (from the UK) to do my MBA because the subjects at UC seemed far more down to earth (real-world) than the bigger schools - including entrepreneurship and small business. (And loved it here, so ended up staying!) In terms of what the MBA was worth (value), the two most valuable lessons I learnt on the MBA were, firstly, how much I don't know and, secondly, how to go about finding out the answer. None of it was rocket science; more a "science of common sense" (which, actually, isn't all that common). My advice to prospective candidates is listen less to the hype (telling you why you should enrol) and more to your own sense. What do you need to learn and why? Then pick an MBA that covers the subjects you need to meet your goals (and reduce or eliminate the element of chance!). Best regards from down-under!

•  
  kyle_osga10/23/07 Report as spam
  5

  RE: Why I'll Take my Chances and Stay in School

  Education is invaluable. I like to think we are put on this earth to gain knowledge. With knowledge comes understanding, which can both be used in our present life and spiritual. So I guess it all depends what is important to you. If your looking for a 6 figure salary and you are a capable person you will eventually obtain what you desire. My only comment would be, carful what you wish for. On the other hand if your looking for a better understanding of the world you live in along with an appreciation of your purpose I say you can't go wrong. Peace of mind should be your goal, and using this gift to make the world a better place to live in should be your inspiration.

•  
  mwinterburn10/23/07 Report as spam
  6

  RE: Why I'll Take my Chances and Stay in School

  It is not just what you learn while in B-school that matters, it is the network of collegues that you develop and will be willing to take your call when you have an opportunity in hand. That is the biggest ROI of any good school, and it is extremely hard to measure or predict.

•  
  pwnvds@...10/23/07 Report as spam
  7

  Good point

  I have heard this statement many times, and I believe it to be true. The value of an education is determined by the marginal future income stream which results from that education. The actual knowledge gained from the education itself can be very similar across many schools, and in reality can even be gained by reading a lot of business books on your own.
  
  What you are paying for is the reputation of the school, the "passport" (ie degree), and the network you gain during the education experience, all of which will help you get a better job in the future.
  
  For me, I was more concerned with complementing my skillset in my current position, which already pays 100k+. My reason for getting an MBA was more to help in my current capacity than to go for the C level position. For that, I believe the ROI was worth it. And when I eventually apply for another position, I will sell my business experience first, and MBA as a bonus.

•  
  doug.browning@...10/23/07 Report as spam
  8

  One size fits all MBA is not for everyone

  So let's think it through for just a moment. What the 'critical thinkers' would suggest is that learning more about business is bad? Which would seem to be a bad way to look at the world and not terribly defensible, or that 100K for an MBA from the big schools is too much money...that might be a bit more defensible position, if you took into consideration how much an undergraduate degree is from the same institution. Harvard costs approximately 30K per year as an undergrad right now, which would make a Harvard undergraduate (or bachelors ) degree around 120K assuming a four year stay (which isn't neccessarily the case anymore). Should the question then not be, is education itself too expensive? 100K to get someone ready to be an executive vs. 120K to get someone ready possibly only to go back to school? I think the Chances article is closer to the mark, getting an MBA is all about learning how to identify problems and bring a lot of different tools to bear to the solution, rather than getting an MBA and suddenly being placed in charge of the company. In many companies now, an MBA is what an undergraduate degree used to be, it just gets you in the door and maybe the EXPECTATIONS of the MBA pursuer need to be adjusted. I've changed fields after receiving mine and have since been promoted twice and am currently the director of my department, which I could not have been without a masters degree. My income is growing, along with my own emphasis on learning the business I am in. To conclude (as I have to head to yet another meeting), if the premise is that you don't get your money's worth for an MBA, I don't think that the naysayers are factoring in the cost of a basic degree either in their computations. If on the other hand, the premise is that those who seek an MBA should temper their grandiose expectations of leading large companies down the yellow brick road immediately upon graduation, then I think we would have much more to talk about. It's the tempering of expectations along with factoring in experience that would make getting an MBA an excellent choice. At least until I go out on my own!
  
  Douglas Browning MBA
  University of Houston Executive MBA Program

•  
  paulmobley10/23/07 Report as spam
  9

  Be prepared for a different league

  After a few years doing consulting I went back to school and earned my MBA graduating with highest honors at age of 27. It was a great decision for me...but in some ways it made it tougher to get the next job. The reason was that the MBA bumped me up to the next league. Before that I was a big fish in a small pond...then I became a small fish in a big pond. I was going up against people with a lot more experience, other people with advanced degrees, and a mix of both. Getting the first interview was easy...and making it back for the second and third was a snap...but the truth is that I was passed over multiple times for people with degrees AND experience. It seemed like I got my degree to soon because I couldn't pair it with experience...but I saw it as a bonus because I was getting tools that I could use longer. While I might not have been as competitive out of the gate...now that I have more business under my belt...the MBA is well worth it.

•  
  JennaMiller10/23/07 Report as spam
  10

  Great comments!

  You guys have made fantastic points! It's quite an asset to have this many mentors and tutors out there to help guide me. My classmates would be jealous!
  
  -Jenna

•  
  Satya Prakash10/24/07 Report as spam
  11

  RE: Why I'll Take my Chances and Stay in School

  Degrees and certifications enable a person to get the theoretical knowledge nad most importantly to have a GOAL and a VISION.
  
  It sounds interesting. How could they interfere a persons goal or vision?
  
  When you study you come across different scenarios and see different approaches towards a problem. You again come up with new ideas and new solutions and mean time it may happen sometimes that you end up with a career goal.
  
  Leaders have a different strategy but do they know that their strategy is different and correct? There should be someone to tell them that what they are thinking is correct and should follow on that approach, when it is a success we quote "Winners Do Things Differently".
  
  But from where all of these thinkings come from?
  For some it is the environment or conditions to sustain and for others getting something from a Heir.
  
  But education always plays a vital role and to prove and to see and to meet the likemind people there are MBA institutions and we should get benefit from that.
  That's why we see people working for 2-3 years and going to a B- School.

•  
  lamitchell10/24/07 Report as spam
  12

  RE: Why I'll Take my Chances and Stay in School

  I am set to graduate with my MBA in February '08. The reasons I choose to attend grad school at age 47 was that I felt there was always something missing from my life. I have been committed to being a lifelong learner and felt that this completes me as a human being. Additionally, my school and my experiences allow me to travel in wider and more influential circles. I network and meet with people who have a broader business base than me. These people give me insight that I would not gather on my own. These successful people fascinate me. That is the value that I place on the MBA degree. If I parlay this into a 6 figure job, that would be a pleasant bonus.

•  
  davidtzau@...10/26/07 Report as spam
  13

  RE: Why I'll Take my Chances and Stay in School

  Put yourself in a learning position whether you have an MBA or not. Learn inside and outside the classroom. People will judge you by your performance.

•  
  winntmax10/31/07 Report as spam
  14

  Even the smallest raise will justify the expense

  I don't want to be overly critical, or overly simplistic about this. However, some simple math can show how even the smallest raise will justify the expense.
  
  Most would agree that the MBA will cost a student close to $30,000 to attain--all said and done. So, even taking someone at the midpoint of their career (someone with perhaps 15 years left to retire), we can show how easy it is to benefit from the investment. Here's how:
  
  It will cost $2,000 per year (30,000 / 15)
  It will cost $167 per month (2,000 / 12)
  It will cost $38.76 per week (2,000 / 52)
  It will cost $0.96 per hour
  
  Therefore, if the investment makes you a $0.96 per hour increase in your pay, financially it has paid for itself!

•  
  GregJensen06/07/08 Report as spam
  15

  RE: Why I'll Take my Chances and Stay in School

  MBA stands for Master of Business Administration. Period. I t means you have a mastery of at least one if not more than one area specific to the administrative processes that make up the management role. It does not mean you will eat power lunches with Fortune 500 CEO's, but it might help you understand what they are talking about when they walk the talk around the table.
  
  I am sick of higher education getting bashed all around because some people treat it as a super rare commodity. Anyone who has the drive and some level of intellectual capacity can get a degree... apply it a little more and with some focus and you can get an MBA. Your boss should value the effort and the ability to contribute specialized knowledge,; not revere you like a god and throow good money after bad at largely overrated IVY school MBA holders. I'd pit my MBA against any one else's.

•  
  vinu.ganesun@...10/19/08 Report as spam
  16

  RE: Why I'll Take my Chances and Stay in School

  True. Nice article that should be read by freshmen who pursue the degree without much of an idea of why they are doing so.