I am currently enrolled in a part-time MBA program and am 3/4 of the way through it. Over the 6 months I have started to regret that I started a MBA program. The only reason why I have not stopped attending school is because I am so close to obtaining my degree and dropped to much cash.
Here are the reasons:
I am currently in financial sales and have been interviewing for a couple of positions inside my company since I have started my MBA. There were some jobs I was not qualified for however I have been told several times that the only reason why they could not give me the position was because they don't think that I could work the hours the job in tales or it would be to much for any person to handle. Then turn around and tell me that as soon as I am done with school to call them back because there would be a position open for me.
As I wrote above, I am in sales. Out of over 250 sales reps in my company, only 3 people have a MBA and having one does not differentiate you from the pack. Furthermore, having an MBA does not provide you with any extra income than someone else because over half of my pay is commissions.
Now you are probably wondering, why in the heck did you go back to school then. I have learned a lot from the classes I am taking and I thought it would help me with my current job, which it has. I don't regret that part, but I had not clue it would of prevented me from getting other jobs.
I understand also an MBA will help me if I change career paths but I don't ever see that happening.
Sorry I am done complaining, but the whole point of this blog was to see if other people are stuck in a the situation that I am or are thinking the same question. Is a MBA worth it?
9 comments:
As the prof for one of your MBA courses, I feel that I should write something encouraging here. But I'll leave that to your supportive fellow students...
Thank YOU for writing this...I wonder the same thing about whether getting an MBA is worth the stress, expense, and will it benefit me...The cost/benefit is what they teach in MBA classes and thus far I have seen no benefit...not to mention the THREE tuition increases that have occurred since i enrolled in Fall, 2004. THREE INCREASES AND WHAT DO I GET? So far, interesting conversations, classes and the personal satisfaction of knowing I can do the work. NONE of these items pay the bills. Ok, I am done complaining. Thanks for writing this blog.
Although I have to somewhat agree with Scott and Sara that I have not seen any of financial benefits now, I do anticipate that it will benefit me in the long-term. In order for me to increase my professional equity (in the marketing/advertising industry) I should have an MBA. It can get quite competitive and an MBA will give me additional value. Even though now I question "What will I do with my MBA" I think it will be beneficial down the road.
I, too, had to evaluate whether it was worth continuing my MBA when I was at the 2/3 point. I made the decision to finish the degree because I had made it that far - it would be a waste to not finish. After this class I only have 1 credit left to complete and then I will graduate this Spring. While working full time, there were definitely times when I felt overwhelmed and questioned if it was all worth it. I am glad I'm finishing it now. I don't know that I will be pursuing any specific job as a result of the degree, but I know it won't hurt, and I will like the feeling of having attained a master's degree. No matter what I end up doing, I think the degree will benefit me, even if I decide to open my own business. I don't necessarily see a direct corelation with the degree and an instant salary boost, but that is not why I decided to finish it.
I think that an MBA gives an individual many options that would not have been available before. One of my friends finished the MBA program two years ago and has been promoted within his company since. The money is much better and this job would not have been available without an MBA. I think it shows an employer dedication because I do not feel that the subject matter has been any more challenging than undergrad. It's more a case of just putting in your time. I work in the Private Equity field and I will not be able to move up within the industry without the degree.
Hopefully your degree will create opportunities down the line even if these immediate job offers did not require the MBA qualifications.
Unfortunately you won't know if an MBA will be worth it until you are done. Hopefully it will be. You may not see the immediate benefit of having one, but further down the road it might become more obvious how this is all going to benefit you.
Just hang in there and try not to let it get you too down.
I am surprised by the number of discouraged comments on this topic. I myself am close to completing my MBA with expected graduation next spring.
I see this as an investment that may not show its full benefits until several to many years post my graduation and have been told by several managers at my place of employment how valuable this educational experience will be for me in the future.
I do believe that the combination of actively working and also taking classes over the few years it takes places us in a much more desirable position to perform in a real life work environment.
I guess my opinion of my part-time MBA experience leans is similar to Scott W's & sara b's. The sinle most important thing NU's program is missing is a strong & allegiant (is taht a word?) alumni network. I too am in the financial industry and in my experience BC alumni are fiercely loyal...infact at my last job, I was the only person who did not attend BC.
Good topic. I had those same questions myself about half way through the experience. Basically, I look at this way...in a knowledge based economy, getting an MBA is equivalent to what a college degree was 30 years ago. And while the benefits might not be immediately evident, long term the experience and knowledge will give you an edge in the marketplace. Or so one would hope...
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