Posted on 07/21/2010 6:32:21 AM PDT by Kaslin
I'm not going to say what I'm thinking.
Unless you go to a top 10 school, go in the evening part-time. You’re then running the clock on job experience AND getting an MBA, and when it comes to job hunting time employers like an MBA but they like an MBA with experience even more. Also, unless you work in the public sector and just need a degree from an “accredited” school for promotion avoid non-ranked schools as well as online schools, they’re just going to waste your money by not returning you the salary to make the expense worthwhile.
In this economy, why would anyone with two functioning brain cells even consider leaving a good job to take on debt?
Unless you’re a career student or are unemployed, make it an executive MBA. Pay as you go, as much as possible, get your books used at one of many websites, sell said books back to pay or offset the next semesters books and you can get out with student loans of less than $30,000.
The school at night is the route I took - it’s a grind, but doable. I also got an MS in Management rather than an MBA. It took less time, many of the courses are MBA type subjects, and it’s still an advanced degree.
Do it online....
I have a brother-in-law who works roughly 60+ hours a week and is in his dissertation phase of his PhD.....all online....all from a reputable and accepted school.
That payment did not look right, and sure enough, my calculator comes up with a monthly payment of $1,154.91. Just a minor detail.
That’s an insane figure.
I left active-duty Army in 1992 and began a full-time MBA program.
I lived with three other roommates in a ramshackle house and didn’t spend nearly that much for the two years in the program.
One thing about doing the classes on line - they are usually more convenient if you're working around a job. The bad thing is that you need to be self motivated. If you don't have the self discipline to sit in front of the computer for six hours a day on the weekends you aren't going to succeed at getting a degree on-line.
Hmmm...I got $1,150.80 from my loan amort calculator spreadsheet in Excel. Small difference, but if you’re using an HP, I’d believe that before the spreadsheet.
Where in the world did the author get $585??? Even 20 years gives $763/mth.
I got mine full-time, but continued working a BS retail job to pay rent and bills. I borrowed for tuition and books etc and came in about $30k in debt. Graduated in 2004 and in 6 years it has not helped me one bit, except to land my current job that pays less than the job I got laid off from last year and did not even require a BS/BA. I say unless you are of elite academic calibur that can get into the Ivys or the UVAs, it is pretty much a waste of money because the jobs that require an MBA and pay for it only recruit from those schools. The only reason I had to do it was because I got my BS in a garbage discipline and that was worthless as well, though my parents paid for undergrad and I did not take on debt for the BS. I wish I had been given more realistic direction in my teenage years.
Only a governmennt job gives a rat’s behind about an MBA. An MBA screams, “I had no other skills so I went and got this!”
Might I suggest that instead if tying this much money up in a degree that then depends upon you getting a better paying job to pay for you instead take that money and start a business. If you want to invest in yourself do so directly. And I promise you, you'll learn more "business" in running that business than you ever would have in obtaining an MBA.
But that's just my 2 cents.
I worked and got my MBA.
I was exhausted for two years. I remember standing in the shower and falling asleep at least twice.
By the way, I loved every minute of my studies. It was a wonderful learning experience.
Great advice, I agree completely.
“Only a governmennt job gives a rat’s behind about an MBA. An MBA screams, “I had no other skills so I went and got this!””
...and then there’s the guy who was a senior executive at an ad agency but had maxed out his earnings. He took the GMATs and got accepted at a top Ivy League School for his MBA. He nearly flunked Economics but ended up at the top of his class with tutoring and hard work. He graduated, got a job on Wall Street, ended up running divisions at three different banks and made hundreds of thousands more than he would have otherwise. That guy was me and I didn’t need to go back. Absolutisms are seldom absolute.
:)
If I wanted an MBA, I’d hire one. There was a time when the degree meant something (especially if it was from a quality B school), but now, unless it is an adjunct to another degree, it’s not worth much. Combine it with a Masters (or even a Bachelors) in engineering or hard science and you’ve got something going.
Legally or illegally?
I should have said ethically (university) or unethically (diploma-mill)?
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