Hello all...this is my first post. I shelled out about 20k to get my M.B.A. I completed the degree back in 2008, probably the worst time ever, but none the less I got it. I was wondering do you think advanced degrees have begin to lose their luster? My old job was eventually going to be eliminated so I transferred internally and my new boss had an appreciation for it. Thoughts?
Hey, Chris. I think it depends on what you want to do. There are a lot of companies that basically require an MBA, but if you want to start your own business or if you've already proven your abilities with great successes, then it doesn't really matter. Since you already have yours, milk it for all it's worth (unless you want to be an entrepreneur, in which case be glad for the experience and move on to greater success).
I am of the opinion that almost any degree is drastically over-priced nowadays, especially if you do it the traditional way of living on campus and paying through the nose for all the ridiculous amenities of the "college experience".
Thanks Scott! I am leaning towards possibly starting my own business. The more and more I think about it, I think that is the way to go. Do you have a corporate job or do you own your own business? Thanks again for the response! Happy 4th of July! Chris Moody
I've wasted a devastating amount of money on education, but I don't think it's always a waste. It's common for people to change majors or change careers. I would advise people to fully explore their chosen field through independent reading, classes, volunteer work, etc. on the cheap. Then, if they find they need a formal degree, they can pursue it being fully aware of the industry and going in with a lot of knowledge already. It's also better to do it as cheaply as possible. My MBA was more than twice yours and on top of that I changed degrees a few times, racking up debt each time. The good news is that I've learned a lot about what to do and what not to do, so hopefully I can help others.
Raven, thanks for the response! I often feel the same way when I think of how much money I had to spend, but I think you have look at the M.B.A. as a stock. It does separate you from the rest of the pack! I was in the field of IT and my new boss told me he hired me because of the MBA. So be encouraged! It is a great thing! Have a great weekend!
I am currently working on my MBA now at Union University in Germantown, Tennessee. It is a cohort program, thus I am learning a lot of information from my peers. I am using this experience to change careers into the business sector. As a person that loves to learn, learn, learn, I think this degree is beneficial for that purpose. Unlike other MBA students, I do not expect this to get me a 100K per year position with a company, rather I rather generate 100K or more in profits in my own micro-businesses. Through Dan's creative job search process, I am receiving a lot more interest from companies in Memphis based on my MBA being listed on my resume even though I have yet to complete it. I will be done in April 2014. I will let you know more then, lol.
Leonard, thanks for the response! I was wondering how did you receive feedback from your M.B.A. from companies while you are in the midst of completing it? I thought mine would open up more doors of opportunity for me, but it seems that the job market is flooded and if you do not have the right "connections" it makes it even more difficult. I am not totally discounting my degree as it did open up a door for me to totally switch careers out of a dead end job in IT to a new analyst role about a year ago! Union actually was in the same conference as my college (North Greenville University). Thanks again for responding Leonard! Have a great 4th! Chris Moody
Hi, Chris. I've listened to a podcast by the dude who started the website called the Personal MBA. I think an MBA has great value, if you put what you learn into practice. And if you combine that MBA with real life experience. I would not be discouraged about the 20K: it's an investment that will yield big returns as long as you can continue to learn and put it into practice.
Delivering results never loses its luster. I interact with a few folks who hold the MBA degree, but can't deliver the results one would expect to see. I agree with Scott Moore - if you're going to go out on your own, the degree itself is irrelevant - it's the skills you gained in the process of getting it, and putting them to use, that matters.