Discussion in 'Community Off Topic' started by giantsfan, Jan 16, 2017.
Considering going for an MBA. Anyone here received it or have much to say about it?
I don't have one, as I'm more on the academic side, I've read about studies that say that for many (if not most) people, getting an MBA doesn't increase lifetime earnings.* In that sense, it may not be "profitable" to get an MBA. At the same time, I don't get the sense of an lot of people tho took it and regret it (in contrast, there seem to be many who regret going into debt to get a bachelor's degree). On the contrary, people seem happy and proud for having done it. My hunch is that this is because they are proud of the accomplishment and the satisfaction they get from being able to advance in their careers.
What is the bottom line? Basically, don't expect an MBA to necessarily "make you rich."** On the contrary, think about life satisfaction and whether your current job requires you to have a masters to progress.
* To get this result, you have to take into account the foregone earnings while you are studying rather than working.
** I don't know much about the numbers on this, but, as you may know, the statistic to look for is the average earnings for first year graduates of the programs you can realistically get into.
I have one. I'm glad I did it, but I agree with Forest that it won't make you rich by itself and may in fact be a big financial burden for a while. I'm about 20 years into my career and I don't think the MBA on my resume has been the deciding factor in any job I've applied for -- I do think it has made me stand out for promotions once or twice. I definitely appreciate the experience of working hard to earn the degree. Met some cool people, visited some parts of the world I wouldn't have otherwise (the school was across the country [US] from me and I did a summer at Oxford University as part of the program). And I think it helped my confidence to some degree. I'm currently interested in doing some teaching on the side and the university I'm applying at requires at least a Masters Degree (in anything) so my MBA might open up that opportunity, at least.
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