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Message
Is an expensive MBA worth it?
Posted on 8/1/14 at 9:08 am
Posted on 8/1/14 at 9:08 am
I've got an engineering degree from LSU, and I really don't think I'd be making any more money with a more highly regarded engineering school, so I would say the ROI on my degree is pretty good and going to a private school would not have been worth it.
I've now got several years of experience and am moving into the technical sales side of the company. I hope to move into management in the next 5 years. I'm starting to get interested in getting my MBA. I just wonder if the name of the business school you go to carries that much weight in a job interview. Is it worth spending 80k-100k to go to a highly rated school, or is the ROI not much more than getting it from UNO like everyone else I know? I know with the company I work for now, it won't matter, but I hope the degree would help if I ever decided to work somewhere esle.
I've now got several years of experience and am moving into the technical sales side of the company. I hope to move into management in the next 5 years. I'm starting to get interested in getting my MBA. I just wonder if the name of the business school you go to carries that much weight in a job interview. Is it worth spending 80k-100k to go to a highly rated school, or is the ROI not much more than getting it from UNO like everyone else I know? I know with the company I work for now, it won't matter, but I hope the degree would help if I ever decided to work somewhere esle.
This post was edited on 8/1/14 at 11:47 am
7
Posted on 8/1/14 at 9:22 am to KG6
Do you think you would still do the same thing even if you left the company?
When you say management, are you meaning management of the sales force, or, more overall management?
Unless you are wanting to move into finance, investment banking, or have aspirations of being a Fortune 500 CEO, I don't think a high dollar MBA is worth it. At the same time, there are a lot of cheap MBA programs out there in which the degree is not worth the paper it is written on.
I think a good, solid, state school MBA is probably the way to go, especially if you have to pay for it yourself.
When you say management, are you meaning management of the sales force, or, more overall management?
Unless you are wanting to move into finance, investment banking, or have aspirations of being a Fortune 500 CEO, I don't think a high dollar MBA is worth it. At the same time, there are a lot of cheap MBA programs out there in which the degree is not worth the paper it is written on.
I think a good, solid, state school MBA is probably the way to go, especially if you have to pay for it yourself.
Posted on 8/1/14 at 9:27 am to KG6
A top name MBA school won't help you as much as your work experience does. If you were just out of undergrad, it would matter more.
Posted on 8/1/14 at 9:28 am to KG6
Are you asking if a degree from a good school will look better than a degree from UNO? yes, of course, that goes without saying.
Whether or not the degree amounts to anything really depends on the individual.
Whether or not the degree amounts to anything really depends on the individual.
This post was edited on 8/1/14 at 9:29 am
Posted on 8/1/14 at 9:28 am to LSUFanHouston
I'd like to manage operations, which for us includes managing the workforce, but a mojority of the work is managing the financials. I'd honestly hope my career takes me to a level where my experience would allow me to crossover into management in other fields. That's really why I'm looking at well known schools. I'd like to take management at an oilfield company and use it to crossover into any field. This is all part of my plan to eventually be CEO of GE 
.
ETA: I will without a doubt go to a better school than UNO, but is it worth it to shoot for higher than LSU's MBA program (which itself is not the cheapest thing in the world).
. ETA: I will without a doubt go to a better school than UNO, but is it worth it to shoot for higher than LSU's MBA program (which itself is not the cheapest thing in the world).
This post was edited on 8/1/14 at 9:31 am
Posted on 8/1/14 at 9:30 am to KG6
I've had the same thoughts/discussion with several friends for the exact same reason as you.
I know for certainty that an engineering masters is not worth it, but an MBA may be.
The conclusion I came to is that unless the company is willing to pay it is probably not worth it to go to a top school.
The reason for that thought is because I just don't feel like that $1000,000 out of pocket for school, plus 2 years lost income from being in school full time, isn't worth the marginal increase in pay that I have seen.
On the other hand, I have a brother in finance and it made sense for him to go to a top school because he doubled his salary when he got out. I just don't see in the consulting engineering world that happening.
I know for certainty that an engineering masters is not worth it, but an MBA may be.
The conclusion I came to is that unless the company is willing to pay it is probably not worth it to go to a top school.
The reason for that thought is because I just don't feel like that $1000,000 out of pocket for school, plus 2 years lost income from being in school full time, isn't worth the marginal increase in pay that I have seen.
On the other hand, I have a brother in finance and it made sense for him to go to a top school because he doubled his salary when he got out. I just don't see in the consulting engineering world that happening.
Posted on 8/1/14 at 9:30 am to KG6
If you want to be CEO of GE you need to go to a good school, hope that helps 
Posted on 8/1/14 at 9:34 am to KG6
quote:
ETA: I will without a doubt go to a better school than UNO, but is it worth it to shoot for higher than LSU's MBA program (which itself is not the cheapest thing in the world).
I would compare LSUs program to some of the "good" programs out there and if it is even marginally close (in terms of tuition) I would probably make the leap to the better school. I don't want to hate on LSUs program (that isn't my intention here) but outside of LA, I would think that generally it doesn't hold a lot of weight compared to other schools. Obviously there are exceptions to that which goes back to the specific individual.
This post was edited on 8/1/14 at 9:38 am
Posted on 8/1/14 at 9:42 am to hiltacular
MBA's are a dime a dozen with the exception of some top tier school.
Posted on 8/1/14 at 9:46 am to KG6
If you're moving up the ladder at your company they will likely sponsor your MBA as long as you sign paperwork basically saying something to the effect; "if you leave them within 5 years you'll pay them back". An MBA is an MBA as long as it's not an online MBA in my opinion.
Posted on 8/1/14 at 9:48 am to Cajun Revolution
quote:
MBA's are a dime a dozen with the exception of some top tier school.
true, I would probably avoid them altogether unless it is a top 25 school (unless it was paid for).
This post was edited on 8/1/14 at 9:52 am
Posted on 8/1/14 at 9:54 am to BeerMoney
I've been told that my company has a program to pay for Rice's MBA program, but I think it's more of a thing where they approach you. I'm definitely going to try that out. I have to get into a school of that caliber first. I'll be the first to admit that I screwed around in undergrad and my GPA and transcript aren't awe-inspiring. I do however feel that I'm much more intelligent than my grades reflected (I was lazy). I feel like I can put up a good GMAT (studied with my wife), and have a pretty good reputation as someone who is moving up in my company. I'm hoping the experience and a good test score will make up for my mediocre grades.
Posted on 8/1/14 at 10:02 am to KG6
I have a few older friends who are on the entrance application review boards for some top schools and all have said GPA in undergrad doesn't matter too much. They are more concerned with having a diversified class with varying experiences and cultures. Reference letters are a huge part too, try to get ceo's and alumni to write them.
I am certain and so is my brother that he was the token straight white male from the Deep South in his MBA class. He was at a top 15 school.
I am certain and so is my brother that he was the token straight white male from the Deep South in his MBA class. He was at a top 15 school.
This post was edited on 8/1/14 at 10:04 am
Posted on 8/1/14 at 1:19 pm to eng08
quote:
Reference letters are a huge part too, try to get ceo's and alumni to write them.
I just got my three letters sent in to GWU. It was exhausting and I couldn't imagine having to ask for that again.
Posted on 8/1/14 at 1:48 pm to KG6
The top flight MBAs are 100% worth it if...
* You want to go into investment banking
* You really feel you are CEO material
Other than that, I don't see much of a difference between paying $60k and $120k.
In the south, a&M and GT offer very affordable MBAs. I went to GT and was quite pleased with my degree.
I will say after the first job, its more of a check mark thing than anything else. The MBA helps you get a promotion or your next job, that will determine your career path more than the degree.
* You want to go into investment banking
* You really feel you are CEO material
Other than that, I don't see much of a difference between paying $60k and $120k.
In the south, a&M and GT offer very affordable MBAs. I went to GT and was quite pleased with my degree.
I will say after the first job, its more of a check mark thing than anything else. The MBA helps you get a promotion or your next job, that will determine your career path more than the degree.
Posted on 8/1/14 at 1:49 pm to KG6
bullshite to the haters on here.
Go to a top 20 program and the name and, more importantly, the connections are a DEFINING CHARACTERISTIC of your LIFE forever.
Do it but only if you can get into a top 20 program.
Go to a top 20 program and the name and, more importantly, the connections are a DEFINING CHARACTERISTIC of your LIFE forever.
Do it but only if you can get into a top 20 program.
This post was edited on 8/1/14 at 1:50 pm
Posted on 8/1/14 at 1:58 pm to austiger
quote:
bullshite to the haters on here. Go to a top 20 program and the name and, more importantly, the connections are a DEFINING CHARACTERISTIC of your LIFE forever. Do it but only if you can get into a top 20 program.
In certain professional paths, this is 100 percent true.
In other professional paths, this is not at all true.
If your career path goals are to be a middle manager at some 100 employee local outfit, getting a Top 20 MBA is an insane waste of money.
If you want to network your arse off and get onto a career path in investment banking or in Fortune 1000 corporate management, a Top 20 MBA will easily pay off.
Posted on 8/1/14 at 9:31 pm to LSUFanHouston
Standard advice.
Paying for it yourself, top 25 or better.
Company paying for it then whatever if you just want to check a box.
If you want to stay in energy, I recommend Texas, it's the best program with a huge alumni base in O&G. Second would be A&M. Rice 3rd, they have such a small footprint.
Disclaimer, I went to Texas.
Paying for it yourself, top 25 or better.
Company paying for it then whatever if you just want to check a box.
If you want to stay in energy, I recommend Texas, it's the best program with a huge alumni base in O&G. Second would be A&M. Rice 3rd, they have such a small footprint.
Disclaimer, I went to Texas.
This post was edited on 8/1/14 at 9:40 pm
Posted on 8/2/14 at 6:25 am to barry
What is this advice based on? ROI heavily depends on several factors that are unique to him. What is he making now? What is his COL now? What would it be while in school? Can he get any scholarship money? What is his income potential while in school? How much will he have to finance? At what rate will he be able to borrow? What is his potential without an MBA? And then ultimately what ROI does he require to accept the risk of leaving his job and going back to school with the expectation of increasing his income by $X after graduating? I'm guessing barry's ROI and risk tolerance are very different from KG6's.
Posted on 8/3/14 at 1:17 pm to lsu711
If I did go for it, it would have to be an MBA for professionals type of program. I have a son on the way and am the primary breadwinner. My company pays a measly 5k per year to get any further education, but there are programs that they'll pay for masters at Rice and TAMU. I hope by the time I feel comfortable with my workload to take on the task, we would be finished paying my wife's student loans and should be able to swing the tuition ourselves if I did not get the company to pay for it.
The real question is what will the degree do for me. I know I will not get a raise just for getting the degree. That's not how my company is structured. But, I do believe I would be first in line for the next management position. I know that is something I'll have to figure out on my own as every situation is going to be different.
I was really just trying to gauge how much weight a good name school would pull. I've really learned to look past it for the most part with undergrad degrees. I've seen everything from Standford to Southern and you realize it doesn't really make that much of a difference once people actually start working. It's all about the person, not the degree. I knew too many people in school who could ace a test, but not tie their shoes.
The real question is what will the degree do for me. I know I will not get a raise just for getting the degree. That's not how my company is structured. But, I do believe I would be first in line for the next management position. I know that is something I'll have to figure out on my own as every situation is going to be different.
I was really just trying to gauge how much weight a good name school would pull. I've really learned to look past it for the most part with undergrad degrees. I've seen everything from Standford to Southern and you realize it doesn't really make that much of a difference once people actually start working. It's all about the person, not the degree. I knew too many people in school who could ace a test, but not tie their shoes.
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