[Repsol]

I'm currently pursuing my MBA with no guaranteed payoff when I'm done. My employer values it, but it won't immediately catapult me up the corporate ladder. However, if my career goes as planned, I believe there will be a point where not having my MBA will hold me back.

If you have the money and the time, go for it. It will be nice to have it in your back pocket.

[Edward]

Originally Posted by dth656

also, if you want to work at goldman sachs or morgan stanley or mckinsey, then you better have a tier 1 school.

I'm already at one of the only two that actually compete with GS and MS. Anyhow, public ibanks are getting worse to be at because of this administration. We saw proprietary trading units almost cripple us, and now they aren't even allowed to be a part of us to help our profitability. The biggest baddest investment banks are not that fun to be at anymore. There's a big shift going on right now and I want to be well equipped and at the best place to be when the dust settles.

[dth656]

Originally Posted by Edward

I'm already at one of the only two that actually compete with GS and MS. Anyhow, public ibanks are getting worse to be at because of this administration. We saw proprietary trading units almost cripple us, and now they aren't even allowed to be a part of us to help our profitability. The biggest baddest investment banks are not that fun to be at anymore. There's a big shift going on right now and I want to be well equipped and at the best place to be when the dust settles.

i think the prop trading desks probably caused some of the banks a lot of trouble, unless the bank had the SEC, fed, etc loaded w/ their alums ha ha (*cough GS*)

in any case, most of my friends who stuck it out 2-3 years as an associate post-mba were easily able to find stuff:
-corp dev, corp m&a groups at various firms
-PE
-VC

i think most of them found corp dev to be most attractive, not least because of burnout

[Edward]

Originally Posted by dth656

i think the prop trading desks probably caused some of the banks a lot of trouble, unless the bank had the SEC, fed, etc loaded w/ their alums ha ha (*cough GS*)

in any case, most of my friends who stuck it out 2-3 years as an associate post-mba were easily able to find stuff:
-corp dev, corp m&a groups at various firms
-PE
-VC

i think most of them found corp dev to be most attractive, not least because of burnout

LOL...paulson.

Can I ask at what age your buddies went in as associate post MBA? I met a couple guys at a party in spring this year and they were both 30 and 31 and went to bulge brackets as associates. They were swearing that my chances of going that route are so much higher than theirs are due to the fact that neither of them had worked at an ibank before...one of them having been in tech prior to B school. I've got to keep hearing encouraging things about just how much easier it is to make lateral/divisional changes within a company and within the industry in order to really take the dive.
I know it's never "too late" to go back to B school, but there certainly is a point in one's career where they are deemed too old or too high up already in their respective field to be considered for a job.

[Jet335i]

Does nobody's company pay for their MBA's anymore? A lot of bigger companies, despite the poor economy, contribute in SOME way to furthering your education while you work there - usually with the caveat of keeping a certain gpa/grade and/or working for them a while longer after you graduate. Some of the costs of the top 25 B Schools are insane - like $130K depending on if you go full/part time. Who can afford that by themselves these days?

secondly - if you're going to spend the time and effort to do an MBA, stay away from online programs. Why do it half-ass with much less "brand" recognition if there are better-ranked programs with the same ability to do a program part-time?

[Edward]

Originally Posted by Jet335i

Does nobody's company pay for their MBA's anymore? A lot of bigger companies, despite the poor economy, contribute in SOME way to furthering your education while you work there - usually with the caveat of keeping a certain gpa/grade and/or working for them a while longer after you graduate. Some of the costs of the top 25 B Schools are insane - like $130K depending on if you go full/part time. Who can afford that by themselves these days?

secondly - if you're going to spend the time and effort to do an MBA, stay away from online programs. Why do it half-ass with much less "brand" recognition if there are better-ranked programs with the same ability to do a program part-time?

Being in LA I know people who work in defense, aerospace due to the large contingency of those companies in El Segundo. They still tend to pay most if not all of your MBA costs so long as it is reasonably tied to what you already do there. I know at least one of the big ones don't even require you stay onboard afterwards. Nestle SA also pays for all of it. A lot of companies do not pay much more than 15-25% these days. In the days when pension funds are getting eliminated and 401(k) benefits and health benefits are being slashed, education expenses have less staying power. Sad.

I agree about online programs. Even if you learn stuff, how is that different from buying books and reading them? I can respect anyone's time and energy that goes into it but I can't respect the experience. I don't see how that can even begin to compare with an MBA that is centered around the socratic teaching method.

[xtac]

This is a must read, although it tends to focus on vc/pe/startup there are many gems here, and if you want more I can find more, there all written by vc's with years of experience who are worth millions if thats any indication.



http://www.bothsidesofthetable.com/2...art-ups-or-vc/

[BTM]

Originally Posted by xtac

http://www.bothsidesofthetable.com/2...art-ups-or-vc/

Good read, thanks for posting that

[BayMoWe335]

Just don't get an MBA if you think it will cure current job woes. You might make more money with an MBA, but you might hate your job more.

[BTM]

Originally Posted by BayMoWe335

Just don't get an MBA if you think it will cure current job woes. You might make more money with an MBA, but you might hate your job more.

Not so - many can use an MBA as a springboard into a new career, and many programs work closely with the local business community for events and recruitment, so often location is key. Decide what you want the end result to be, and pick a school based on your own criteria - if you wanna work for Google or Apple then going to Oxford isn't necessarily the best choice for you...or even top ranked University of Chicago. More so than undergrad, a business school is a much more "tailored" affair

[wj4]

Originally Posted by BTM

Not so - many can use an MBA as a springboard into a new career, and many programs work closely with the local business community for events and recruitment, so often location is key. Decide what you want the end result to be, and pick a school based on your own criteria - if you wanna work for Google or Apple then going to Oxford isn't necessarily the best choice for you...or even top ranked University of Chicago. More so than undergrad, a business school is a much more "tailored" affair

A lot of people who go to MBA school also got their BS/BA in a field that's not related to business. IMO an MBA education can be useful in any field if you plan to be high up in the ladder.

I was blessed that my professor taught how to manage a team/staff in one of my classes even though my current program is in a scientific field. He did so because when he got his MS and had to manage a team, he had no idea how to do so because he's never taken a business class. He used his mistakes and experience as the guideline for the class.

I feel that class will pay off a lot come Monday when I start a job as a supervisor. The whole department is a 3 man operation...the manager who is in his late 20s, myself and my friend from school (24 and 23 respectively). My friend, who's been working there for a year or so already, told me to expect to be firm as hell because you're going to be managing no less than 200 workers who will not listen much to you because they're at least 2x our age and don't want to be told what to do by kids.

I wish I had the funds to attend a tier 1 school, but sadly I don't. I will just attend a local MBA school to cut down on cost as much as possible. This is to purely feed my hunger to learn. The way I see it, the degree can only help me.

[BayMoWe335]

Originally Posted by BTM

Not so - many can use an MBA as a springboard into a new career, and many programs work closely with the local business community for events and recruitment, so often location is key. Decide what you want the end result to be, and pick a school based on your own criteria - if you wanna work for Google or Apple then going to Oxford isn't necessarily the best choice for you...or even top ranked University of Chicago. More so than undergrad, a business school is a much more "tailored" affair

I said you may...generally, an MBA job will entail more management and responsibility than a non MBA job...hence the higher pay. If you have actual career aspirations, by all means.

[dth656]

Originally Posted by Edward

LOL...paulson.

Can I ask at what age your buddies went in as associate post MBA? I met a couple guys at a party in spring this year and they were both 30 and 31 and went to bulge brackets as associates. They were swearing that my chances of going that route are so much higher than theirs are due to the fact that neither of them had worked at an ibank before...one of them having been in tech prior to B school. I've got to keep hearing encouraging things about just how much easier it is to make lateral/divisional changes within a company and within the industry in order to really take the dive.
I know it's never "too late" to go back to B school, but there certainly is a point in one's career where they are deemed too old or too high up already in their respective field to be considered for a job.

my friends were in the 31-34 age range after their ~2 year stint as an associate was over. there are folks younger than that, who go from analyst to associate w/o an mba, but i dont think that is very common.

another thought i had was based on my experience at my current company. if you take any fortune 1000 company, and look at the back office, non revenue generating functions, the bar will be lower (HR, finance, IT, etc). think about it: all the hard charger rock star types either want to be in product dev, management, corp strategy, corp dev, or have their own P&L. if, at a relatively young age, someone w/ a banking or consulting background were to go into a back office, loser function, they would probably rise pretty quickly (i.e. to manager, director then VP).

[Edward]

Originally Posted by dth656

my friends were in the 31-34 age range after their ~2 year stint as an associate was over. there are folks younger than that, who go from analyst to associate w/o an mba, but i dont think that is very common.

another thought i had was based on my experience at my current company. if you take any fortune 1000 company, and look at the back office, non revenue generating functions, the bar will be lower (HR, finance, IT, etc). think about it: all the hard charger rock star types either want to be in product dev, management, corp strategy, corp dev, or have their own P&L. if, at a relatively young age, someone w/ a banking or consulting background were to go into a back office, loser function, they would probably rise pretty quickly (i.e. to manager, director then VP).

Though I see logic, I don't see the point. Back office is the pigeonhole of all pigeonholes. I don't see any overqualified alpha revenue generator types to ever want to go into back office even if promised a quick rise to the top of that division's mgmt. Back at 13 months into my career, I was faced with a decision. go into support/back office, or quit. Well, I didn't truly want to quit so I did everything I could in my power to get to the side that develops business and creates revenue. You must be weary of knowing where not to get stuck because stuck means that word to its fullest extent in this industry.

Well, on a side note, I had another talk with the parents and finally they gave my situation more consideration. They basically said that there is no good reason not to go. First of all, it can never hurt because I have the capacity and time to make it happen due to my relatively young age. I have no obligations to a gf or wife or anyone else in this world and above all, it's not like I'd have to take out a loan. They kept telling me that an investment in oneself is the best kind anyone can make. Sooo, now my quest to break 700 starts this week so I can apply during second rounds. I'm just anxious about this gmat score because I really need something between a 680-720.

[Seminole]

Originally Posted by Edward

Sooo, now my quest to break 700 starts this week so I can apply during second rounds. I'm just anxious about this gmat score because I really need something between a 680-720.

With studying and putting your mind to it a 680-720 should be more than possible. Unless the test has changed over the last two years it wasn't that bad when I took it, just remembering a lot of stuff you may not have used in a while.

[greycrx87]

MBA - biggest wate of money in my life...

[Edward]

Originally Posted by greycrx87

MBA - biggest wate of money in my life...

care to explain your experience?

[Sephiroth]

Man thats a tough spot. I've just started considering it myself, but i keep coming back to the thing where i need a solid reason to do it. Without a reason and the drive it'll suck going through it and you'll be unhappy at the finish line.

I've been through this once with engineering already.

[Edward]

Originally Posted by 1love

Man thats a tough spot. I've just started considering it myself, but i keep coming back to the thing where i need a solid reason to do it. Without a reason and the drive it'll suck going through it and you'll be unhappy at the finish line.

I've been through this once with engineering already.

For me, just the notion that I could find myself in a place at any point in the future where I would severely regret not having gotten one when I had the time and means, is enough to want it that bad. I guess it's just an insurance against a future misstep...

Also, a decent part of me wants it for egotistical purposes. Is it a weak reason? yea, sure...but as long as it provides motivation for me to stick with it, I don't care. I've always thought that knowledge and education is never wasted time or energy.

[ejheverest]

I'm 28 and in a career right now that I do not enjoy anymore. I work in an industry where most people I work with don't have any education beyond high school including all my supervisors. Now corporate is a different story regarding education.
For me I think an MBA will allow me to change careers and get a good job but, I am not 100% clear on what I want next out of my next job. Its tough leaving a six figure job where I get 26 weeks off a year and where I know for sure that I would be on my way to 150k/year within the next 5 years. If I didn't have the people to deal with, the job would be better. Goodluck on your endeavors.

[Edward]

Originally Posted by ejheverest

I'm 28 and in a career right now that I do not enjoy anymore. I work in an industry where most people I work with don't have any education beyond high school including all my supervisors. Now corporate is a different story regarding education.
For me I think an MBA will allow me to change careers and get a good job but, I am not 100% clear on what I want next out of my next job. Its tough leaving a six figure job where I get 26 weeks off a year and where I know for sure that I would be on my way to 150k/year within the next 5 years. If I didn't have the people to deal with, the job would be better. Goodluck on your endeavors.

You have to answer for yourself whether the lifestyle of your current job is enough to keep you there. There's an intangible benefit of having those 26 weeks off, yet a major pitfall is certainly the aspect of career boredom. Once you're bored, you will start wondering where you could even start looking to replace that salary and vacation time you're used to. Also, not knowing what you want to do is sometimes a good reason why B school works. You meet a lot of successful people in the course of the 2-3 years you are there and eventually learn where you actually want to work.

[dth656]

Originally Posted by Edward

You have to answer for yourself whether the lifestyle of your current job is enough to keep you there. There's an intangible benefit of having those 26 weeks off, yet a major pitfall is certainly the aspect of career boredom. Once you're bored, you will start wondering where you could even start looking to replace that salary and vacation time you're used to. Also, not knowing what you want to do is sometimes a good reason why B school works. You meet a lot of successful people in the course of the 2-3 years you are there and eventually learn where you actually want to work.

it also depends on where you are in life. right now, i would be ashamed of working in HR for example, or some other back office function. but the folks i've seen who made that transition were a bit older, had wives and kids, and wanted some work life balance. they were willing to put up w/ morons and a mindless job in exchange for free time and relatively higher pay.

also, at the end of the day, i think every job can be boring unless you've had the kool aid. my banker friends began to hate the endless drill of cranking pitch books all night. most of the consultants i know leave after 3-5 years. any corp strat group isnt much different: cranking endless decks and analysis gets old no matter how 'strategic' the question or work may be. so i think sometimes, it helps to focus on the positive aspects of your current situation...