Any MBA degree holders here?

[ISHGoat]

Have some questions if anyone has an MBA. Please feel free to PM me

[BlakFrankWhite]

Its useless these days

[DeuceWallaces]

Its useless these days

I'm not sure it's useless, but it's definitely the most risky of "professional" advanced degrees; i.e. lawyer, business, and M.D. You have to pay for all three but I think you have an incredible risk of not making that money back with an MBA unless you are in a corporation that will automatically bump you up upon degree completion or offer some sort of tuition assistance.

Depending on your situation there may be better M.S. programs that will provide an assistantship and still give you the skills you're looking for.

[West-Side]

MBA is useless because CPA designations have made it useless.
Unless you're going to a top notch college, I'd recommend investing that money (far less to get your CPA than MBA) get a job and work towards your CPA designation.

The best thing about the CPA is you need experience hours and it's all part-time (mostly online, and you can work full time while getting it). The program also will try to connect you with eligible employers so you can work while doing the modules.

MBA is great if you're currently working and your employer wants you to get the master's degree in order to advance further in the company.

That's really the only time I'd recommend you getting one.
If you're still a student with little work experience; go the CPA route.

[BlakFrankWhite]

Corpoare Finance and Audit sector have the most secure jobs.

CFA and CPA have formed a monoply in that job sector.....that MBA(finance) degree is nothing more than a piece of paper for the big corporate recruiters

MBA's glory days are long gone

[West-Side]

Corpoare Finance and Audit sector have the most secure jobs.

CFA and CPA have formed a monoply in that job sector.....that MBA(finance) degree is nothing more than a piece of paper for the big corporate recruiters

MBA's glory days are long gone

CPA gives you two elective modules in which you can take finance as one of the electives. If you want to work in public accounting; assurance and tax are the two electives you must take.

But there's a lot of flexibility with that program.
I wouldn't say they monopolized anything; they just mainstreamed the process of becoming a "professional".

Why waste 80 thousand to get an MBA when you can spend 10 thousand and get your CPA while working full time and they will actually try to hook you up with an employer.

It's the way to go. I got my MBA and am now in the process of entering the PEP program.

[Lebowsky]

As others have said, it's pretty much a waste of money these days. The only field in which it still may be relevant is investment banking, but even there it's no longer a must like it used to be.

[DCL]

depends where it's from.

if you have an mba from fking cal state fullerton, you're not someone who's going places. your dumb ass didn't even pass one single ap course in hs.

yes, i'm talking about someone i know. :lol

[nightprowler10]

I'm not sure it's useless, but it's definitely the most risky of "professional" advanced degrees; i.e. lawyer, business, and M.D. You have to pay for all three but I think you have an incredible risk of not making that money back with an MBA unless you are in a corporation that will automatically bump you up upon degree completion or offer some sort of tuition assistance.

Depending on your situation there may be better M.S. programs that will provide an assistantship and still give you the skills you're looking for.
Basically, don't do an MBA unless it's through your company.

[JohnnySic]

I have one and I agree, it isn't worth much at all. In fact, it may even hold you back (make you look overqualified for some jobs) unless you're mid-career.

[West-Side]

As others have said, it's pretty much a waste of money these days. The only field in which it still may be relevant is investment banking, but even there it's no longer a must like it used to be.

If you're getting your MBA from Harvard, Yale or Cornell; sure.
But CFA is valued far more than MBA's these days.

[nightprowler10]

I'm a technical project manager, and colleague of mine that has the same title, more experience, and an MBA (I don't have one), gets paid less than I do. It's all about being able to get results man, consistently getting results will get you places. Not an MBA and just having experience, not anymore.

[Richie2k6]

I'm a technical project manager, and colleague of mine that has the same title, more experience, and an MBA (I don't have one), gets paid less than I do. It's all about being able to get results man, consistently getting results will get you places. Not an MBA and just having experience, not anymore.
Looking towards my PMP in the near future :cheers:

[nightprowler10]

Looking towards my PMP in the near future :cheers:
Bro, I don't even have that. Though I work with people that do and have considered going for it. It's sounds like something that's pretty useful once you have some PM experience under your belt. Best of luck with it.

[Lebowsky]

If you're getting your MBA from Harvard, Yale or Cornell; sure.
But CFA is valued far more than MBA's these days.
That's why I said "still may be relevant". Having an MBA used to be almost a requisite to advance from analyst to associate (or, more rarely, to be hired directly as an associate if the MBA was from a prestigious institution). It's not as much anymore, and I agree the CFA program is way more valuable both from an educational and from a career point of view.

[UK2K]

Looking towards my PMP in the near future :cheers:

On my radar as well.

[ISHGoat]

What about for management roles in tech industry? You guys are all speaking from the finance/banking POV, and I agree that the MBA is not very useful for that because there's stuff like MQF and MMF.

[West-Side]

What about for management roles in tech industry? You guys are all speaking from the finance/banking POV, and I agree that the MBA is not very useful for that because there's stuff like MQF and MMF.

MBA = masters of business admin.
If you want to get management roles in tech industries; you'll probably be okay with an MBA plus knowledge in IT. If you have an undergrad in IT and are applying for a management role and have no business background; MBA is an excellent way to go.

CPA are designed mostly for people with a business background; MBA is actually designed for people without a business background. The courses you will be taking are quite general unless you take specific electives in advanced courses.

Like if you specialized in finance rather than a general stream, than you will take finance specific courses and they are definitely not general.

In MBA you take core courses which are general (and you can simply take the general stream throughout your 2 years) and you have elective streams (like marketing, finance, accounting, HR and operations).

So to answer your question; if you have a solid IT background and have little business background; MBA is an excellent way to go. If you have a business background and are trying to get a corporate job; go the CPA route, as it is far more advanced and will add a lot more value for your professional career and getting hired.

[InfiniteBaskets]

Top 10-12 schools are worth paying $100k a year for their MBA programs due to the type of networking opportunities and post career paths. The average MBA grad from a top tier school gets offers from $110k - $200k depending on what industry you go into.

This is especially true if your company reimburses you for an MBA degree. Although I will agree that getting a CFA > any MBA degree at a non top tier school. However if you really want to get into upper management at any fortune 500 company, particularly strategy or technology implementation/transformation, it will be extremely difficult without at least an MBA.

[wang4three]

What about for management roles in tech industry? You guys are all speaking from the finance/banking POV, and I agree that the MBA is not very useful for that because there's stuff like MQF and MMF.

It really depends. I got an MBA, mostly I wanted to change careers into tech. A lot of tech companies like MBAs with a technical background (BS in Computer Science, Electrical Engineering, etc.), especially if you're going for a Product Management/Program Management role for B2B tech companies (SaaS, enterprise software, cloud infrastructure).

However, if you're going for a Marketing, Sales/Sales Operations, Project Management role, then a tech background is less relevant. Marketing, depending on the role (Product Marketers specifically), may require some technical background, but ultimately it's not necessary.

Having gotten my MBA, the most usefulness is the networking. You get the ability to network with your classmates as well as your alumni group to get the interview opportunity. Previously, I came from a marketing/advertising background, but wanted to get into product management for a tech company and I wouldn't have able to make the transition if my classmates didn't refer me into their old companies for interviews as well as gave me the breakdown of what the job entailed. I spent my 2 years doing part-time and summer internships in the role and leveraged that to a full-time position.

I get when people say MBA is "useless." The education is great and all, but really the value is the networking. I have a great network of friends/classmates and people that I can go to anytime I want to get an interview at another company. Really, that's the only way to get interviews these days, is if someone refers you.

Sure, if you're getting an MFA, CPA, CFA, etc. you're more likely to get a job because those are clearly defined skills, but only if you're not looking to go towards an managerial accounting/finance role.

[Richie2k6]

It really depends. I got an MBA, mostly I wanted to change careers into tech. A lot of tech companies like MBAs with a technical background (BS in Computer Science, Electrical Engineering, etc.), especially if you're going for a Product Management/Program Management role for B2B tech companies (SaaS, enterprise software, cloud infrastructure).

However, if you're going for a Marketing, Sales/Sales Operations, Project Management role, then a tech background is less relevant. Marketing, depending on the role (Product Marketers specifically), may require some technical background, but ultimately it's not necessary.

Having gotten my MBA, the most usefulness is the networking. You get the ability to network with your classmates as well as your alumni group to get the interview opportunity. Previously, I came from a marketing/advertising background, but wanted to get into product management for a tech company and I wouldn't have able to make the transition if my classmates didn't refer me into their old companies for interviews as well as gave me the breakdown of what the job entailed. I spent my 2 years doing part-time and summer internships in the role and leveraged that to a full-time position.

I get when people say MBA is "useless." The education is great and all, but really the value is the networking. I have a great network of friends/classmates and people that I can go to anytime I want to get an interview at another company. Really, that's the only way to get interviews these days, is if someone refers you.

Sure, if you're getting an MFA, CPA, CFA, etc. you're more likely to get a job because those are clearly defined skills, but only if you're not looking to go towards an managerial accounting/finance role.
Well said

[Duderonomy]

I have a bachelors in BA. And currently work in corporate technical recruiting. I agree with most of the comments. To simplify the answer a MBA with little work experience is a uphill climb to repay student loans. On the other hand at a company like Chrysler most execs with the corner offices are required to have one. If your company pays for you to get a 6 year degree go for it, if you can't find a job after completing your bachelors and are bored, don't do it. Keep grinding and pressing until you find your niche or a company who is willing to train you or put you into their system.

[ISHGoat]

Thanks for the responses guys. I took a diagnostic GMAT yesterday and got 560 which it said was the 56th percentile. How much can I reasonably expect to improve? Im pretty fresh out of engineering school, with minimal standardized testing experience/training. The GMAT will basically be the first test I take outside of school other than some java certificate.

[West-Side]

Thanks for the responses guys. I took a diagnostic GMAT yesterday and got 560 which it said was the 56th percentile. How much can I reasonably expect to improve? Im pretty fresh out of engineering school, with minimal standardized testing experience/training. The GMAT will basically be the first test I take outside of school other than some java certificate.

You can improve a lot by studying.
My friend did worse than you and got 90th percentile on a re-try.

[West-Side]

My colleague who did his MBA with me; he decided to do his PhD.
He took 3 practice exams and failed all 3 times; I remember talking to him in the smoking section. He was legit nervous and thought he would not make it. I told him during the real test you will focus a lot more and do fine. He ended up passing with flying colors.

There are people who legitimately choke on actual examinations and people who do much better than on practice exams; I do much better on actual exams, and apparently so did my colleague.

He studied a lot and showed progress each time but he wasn't hitting the threshold for the program he was trying to enroll in.

So the best advice I'll give you is be as prepared as you can be because studying will most certainly help you gain confidence and knowledge. Even if you don't pass, don't give up. I know many students who didn't pass the 1st time (in some cases, even the 2nd time) but with hard work, they ended up passing.

[DeuceWallaces]

GMAT and GRE are about knowing how to quickly recognize the "type" of problem presented, and the "trick" to complete it in 45 seconds.

One of the books and a little studying will go a long way towards improving your score; at least for the non-writing portion of the exam.

[West-Side]

GMAT and GRE are about knowing how to quickly recognize the "type" of problem presented, and the "trick" to complete it in 45 seconds.

One of the books and a little studying will go a long way towards improving your score; at least for the non-writing portion of the exam.

Yes!
Thank you for pointing it out.
There are certain components you can improve dramatically from simply studying more; and some (English) that takes a lot longer to improve (than a normal duration time of 2/3 months). That's about how long some of my friends studied for their GMAT. I think the exam is offered every 4 months or so.

[DeuceWallaces]

They're both offered quite frequently depending on your area, but you can only take them so often. It's either 1 or 3 months. I can't remember.

[ISHGoat]

Yes!
Thank you for pointing it out.
There are certain components you can improve dramatically from simply studying more; and some (English) that takes a lot longer to improve (than a normal duration time of 2/3 months). That's about how long some of my friends studied for their GMAT. I think the exam is offered every 4 months or so.

So if I understand this correctly, lets say I plan to allocate 3 months to study, around 2-3 hours each day:

1-2 weeks to relearn basic concepts and theory, like trig, geometry, algebra, english sentence syntax. basically freshen up on fundamentals, which is all that is required for GMAT.

2 months to do practice problems so that I can see as many types of questions as possible

1-2 weeks to do fully timed practice exams

not in that order, but is this pretty much a good direction? should I spend more time learning the thorey/background or is 2 weeks enough?

also, how the hell do I practice my written section?! this is one of those times where I feel that it is easier for people from a essay-based major like journalism/english. people with little math/logic background can powertrain and improve greatly in those areas in a short time span. for language and writing, i think it is understood that it is not one of those things that you can rapidly improve on.

[DCL]

So if I understand this correctly, lets say I plan to allocate 3 months to study, around 2-3 hours each day:

1-2 weeks to relearn basic concepts and theory, like trig, geometry, algebra, english sentence syntax. basically freshen up on fundamentals, which is all that is required for GMAT.

2 months to do practice problems so that I can see as many types of questions as possible

1-2 weeks to do fully timed practice exams

not in that order, but is this pretty much a good direction? should I spend more time learning the thorey/background or is 2 weeks enough?

also, how the hell do I practice my written section?! this is one of those times where I feel that it is easier for people from a essay-based major like journalism/english. people with little math/logic background can powertrain and improve greatly in those areas in a short time span. for language and writing, i think it is understood that it is not one of those things that you can rapidly improve on.

if you want to do well, you must do the following...

step 1: stop procrastinating and get off insidehoops
step 2: repeat step 1

:lol

[wang4three]

Thanks for the responses guys. I took a diagnostic GMAT yesterday and got 560 which it said was the 56th percentile. How much can I reasonably expect to improve? Im pretty fresh out of engineering school, with minimal standardized testing experience/training. The GMAT will basically be the first test I take outside of school other than some java certificate.

A lot. I got around what you got when I took a diagnostic test. After a solid 1-2 months studying, I improved by 150 points. Like other posters says, it's just all about recognizing patterns. The always ask the same type of questions and you just have to recognize what question it is and then answering it becomes easier. But if you have to improve in one area, make sure it is the quantitative section. Admissions care more about your Quant score than your Verbal.

[West-Side]

So if I understand this correctly, lets say I plan to allocate 3 months to study, around 2-3 hours each day:

1-2 weeks to relearn basic concepts and theory, like trig, geometry, algebra, english sentence syntax. basically freshen up on fundamentals, which is all that is required for GMAT.

2 months to do practice problems so that I can see as many types of questions as possible

1-2 weeks to do fully timed practice exams

not in that order, but is this pretty much a good direction? should I spend more time learning the thorey/background or is 2 weeks enough?

also, how the hell do I practice my written section?! this is one of those times where I feel that it is easier for people from a essay-based major like journalism/english. people with little math/logic background can powertrain and improve greatly in those areas in a short time span. for language and writing, i think it is understood that it is not one of those things that you can rapidly improve on.

I'm not sure, my GMAT was waived when I was enrolling into the MBA program. I never had to take it in my life.

I'm guessing you can purchase a study package? With mock exams and practice questions. I'm sure you can get a lot of useful resources using google as well. Once you register, I'm sure they will guide you in the right direction.

My friend studied 5/6 hours on Saturday and Sunday. He did that for about 12 weeks and was fine. I guess it heavily depends on your current knowledge level. Some people didn't study at all and passed the test.

[DeuceWallaces]

Your time table sound reasonable.
Buy a highly rated Kaplan or Princeton book on Amazon.
They used to send you a sample test once you've registered. It was good practice.
Does the GMAT have a writing section?

If you have significant work experience it's likely you can have the requirement waived or taken less seriously.

[West-Side]

http://www.veritasprep.com/gmat/?gclid=CPyp49nn4sYCFQ4paQodejIDew

This link might be of some help.
Good luck bro on your preparation and ultimate success.

[ISHGoat]

Your time table sound reasonable.
Buy a highly rated Kaplan or Princeton book on Amazon.
They used to send you a sample test once you've registered. It was good practice.
Does the GMAT have a writing section?

If you have significant work experience it's likely you can have the requirement waived or taken less seriously.

Its got a written section which is an averaged grade of an automated system and manual marking. I heard about those two books, for sure they are very highly rated. Prospectivally, I will only have 2 years of work experience in IT consulting industry when I start my MBA. My undergrad GPA was pretty shitty too, but I have tons of co-op/intern experience and have a great reason for why my marks were crap. So it may be in my interest for the GMAT to be weighted heavily in my application, because I'm counting on it to carry my poor academic record and relatively young age.


http://www.veritasprep.com/gmat/?gclid=CPyp49nn4sYCFQ4paQodejIDew

This link might be of some help.
Good luck bro on your preparation and ultimate success.

Thanks buddy, I appreciate it :cheers:

[Jailblazers7]

A lot. I got around what you got when I took a diagnostic test. After a solid 1-2 months studying, I improved by 150 points. Like other posters says, it's just all about recognizing patterns. The always ask the same type of questions and you just have to recognize what question it is and then answering it becomes easier. But if you have to improve in one area, make sure it is the quantitative section. Admissions care more about your Quant score than your Verbal.

Bolded is absolutely true. I remember when I was considering going to grad school for econ the average acceptance score for Quant was basically perfect (I think 800 is a perfect or something) and Verbal was like 500-600 lol.

[ALBballer]

IMO I think an MBA is worth it for people that have atleast 5 years experience, go to a prestigious program and want to work in a managerial position. Also if your employer is going to pay for it and can still work Fulltime I would strongly consider going. Too many times I have heard of students with little experience or no experience and want to get their MBA because they feel like getting the degree is better than not working. Not the best use of their time or money IMO.

Also I would consider all financial costs involved including opportunity costs. If you have to quit your job and are making say $50-$70k and have to spend another $100k-$150k then the real cost of the degree (if completed within 2 years) is closer to $200k-$290k and this doesn't even take into consideration student loan interests. Assuming you get a job that pays around $120k out of school it might take you almost a few years to break even. Not all students get that type of money coming out of an MBA.

If you put $290k in the S&P 500 in 2012 it would be worth closer to $470k today. If you put it in 10 years ago it would be worth close to $630k.

Point being, MBA is expensive for most students. Think long and hard if it's worth your time and money.

[BigNBAfan]

MBA is only worthwhile if you graduate from a well respected school. You can get MBA's everywhere now... oversaturated in degrees but not necessarily in knowledge.

I have a friend/patient who recently graduated and he started working at a nuclear facility in Palo Alto.

[VeeCee15]

MBA only useful if you go to top programs like Harvard, Wharton etc. As with anything.

Otherwise, MBA is obsolete and too general. Not specialized.

[longtime lurker]

A MBA is far from useless but the market is over saturated. You shouldn't want to get a MBA for what you can learn but rather for the name of the school and the schools network. With that said if you plan on working in the States you definitely want to aim to land at a top ten school a top 20 if you plan on working overseas.

CFA and CPA is all you need if you plan on working specifically in finance or accounting but there's a reason that people with those designations still do their MBA to build management skills.

Look at where you are now and where you want to be and what you need to get there. I agree with other posters that a MBA isn't something to just do its a huge investment and loss of income but it could be potentially worth it. The way I see it getting a MBA is the difference between climbing mount everest and paying a helicopter to fly you closer to the top

[DeuceWallaces]

In this day and age, all degrees, no matter how advanced, are over-saturated; the exception being some medical fields.

It's always going to come down to your writing, communication, and technical skills. Not a piece of paper you have that thousands of other people also have. If you have those skills and determination you will get your money's worth out of your degree.

[Jailblazers7]

In this day and age, all degrees, no matter how advanced, are over-saturated; the exception being some medical fields.

It's always going to come down to your writing, communication, and technical skills. Not a piece of paper you have that thousands of other people also have. If you have those skills and determination you will get your money's worth out of your degree.

Pretty much. It is almost always the case that the degree is just the entry fee and beyond that you have to earn your keep.

[ISHGoat]

Guys I purchased a (pdf version) full set of Manhattan GMAT books. Contains 10 books + 3 Official Guides with problem sets.

If anyone is interested I can share, send me a PM.


In this day and age, all degrees, no matter how advanced, are over-saturated; the exception being some medical fields.

It's always going to come down to your writing, communication, and technical skills. Not a piece of paper you have that thousands of other people also have. If you have those skills and determination you will get your money's worth out of your degree.

Agreed, but I plan on doing mine in China as an international student. I wouldnt go to an MBA program here in north america at like 30-40k/year unless it was a top 5 school, which I realistically wont get into.

[NBAplayoffs2001]

I heard top MBA holders can help a lot for people who try to break into certain type of finance jobs like hedge funds/private equity from being like i-bank analysts.

[NBAplayoffs2001]

My friend went to a top 10 MBA program after working some jobs here and there after undergrad. Ended up opening up his own business and does very well for himself.

[NBAplayoffs2001]

MBA only useful if you go to top programs like Harvard, Wharton etc. As with anything.

Otherwise, MBA is obsolete and too general. Not specialized.

Not entirely true. Columbia, NYU, U Chicago are still considered great MBAs even on Wall Street.

Getting into Wharton undergrad is really rare. Heck, I've known more people who have gotten into Harvard undergrad than Wharton's.

[nathanjizzle]

If you mean Master Baters Accredited, then yes.