Calling all bees with a MBA…is it worth it?

posted 3 years ago in Career
Post # 3
Member
5697 posts
Bee Keeper
  • Wedding: August 2012

I don’t have one but would like to some day. Seems to really depend on what you would be getting it in and for what career path?

Post # 4
Member
1403 posts
Bumble bee
  • Wedding: February 2014

I know 3 women I work with that have their MBA.

All 3 say it’s a huge regret.  Sorry – I wish I could expand but I know mulitple people who spent TONS of money going back to school and it didn’t pay off for them.  At least it hasn’t yet and it’s been years since they graduated.

Post # 5
Member
7997 posts
Bumble Beekeeper
  • Wedding: December 2013

I would only get one if I had a clear path to a promotion with it, and if the employer paid for it.

Post # 7
Member
5697 posts
Bee Keeper
  • Wedding: August 2012

@weddingbee098:  Hmm… I suppose it depends. A lot of places will put you in management based on experience and tenure. My husband works at Boeing though and unless he gets an MBA it’s unlikely in this day and age that he’d ever be management. I don’t think I’d get one if it wasn’t for something specific, or something I knew I’d need

Post # 8
Member
2576 posts
Sugar bee
  • Wedding: November 2013

@weddingbee098:  Unless you have a 1) clear path of what you want to do with your MBA preferably at a place you are already working at and 2) tuition reimbursement for at least some of the cost, an MBA may actually hurt you rather than help you.

I’ve heard that if you don’t have any experience and have an MBA, it might as well be kryptonite b/c employers will assume that you couldn’t get a job and hence had to go get an MBA to fill in gaps. It sounds harsh, but I wouldn’t risk it. If you are to get a Masters in something, make sure it’s specialized.

ETA: Grammar mistakes – ah!

 

Post # 9
Member
290 posts
Helper bee
  • Wedding: May 2014

@weddingbee098:  

I agree with @MrsNewDay, I received a very specialized dual MA/MBA, had a clear path of what I wanted to do with it when I finished and had quite a bit in scholarships. It was completely worth it for me! I got a job right out of the MBA program and didn’t have any trouble even though I didn’t have a huge “professional” resume (tons of performance/music on it, not so much 9 to 5 work experience).

There are people from my classes who got a general MBA, had huge loans, and still aren’t in positions that they feel they should be in based on their degree. If you can’t get enough scholarships or do not have some prior work experience, I’d suggest looking into PMBA programs (Professional MBA). These are programs that you do in the evening/weekends while continuing to work full time and you’ll still be able to keep an income and gain work experience.  

Post # 10
Member
2576 posts
Sugar bee
  • Wedding: November 2013

@Nomster:  Good call on the PMBA. I just finished a Masters in Accountancy – Taxation, and I did it in the evenings/part-time while working the whole time. I’d be freaking out if I wasn’t building up my resume during the time I was studying!

Post # 11
Member
218 posts
Helper bee
  • Wedding: December 2014

in my experience..NO.

Post # 12
Member
2687 posts
Sugar bee
  • Wedding: September 2015 - Ketchum, ID

@weddingbee098:  With MBAs, I feel like it’s more important to have experience than the degree (which is what many higher ups have told me). I personally would rather get a Masters in something specific to what you like doing, rather than the MBA. For instance, if I go to graduate school, I’d get a masters in Economics before an MBA. 

Post # 13
Member
377 posts
Helper bee
  • Wedding: June 2013

I left work to pursue mine full time a few yearsago. I think it was well worth it for me, but that was due to my age, prior salary, and job prospects. It also helped that it was a one year degree, so the cost of the time off without salary was lower.  there are some good calculators online that can estimate if it is financially worth it or not. 

 

Post # 14
Member
842 posts
Busy bee
  • Wedding: June 2015

I have an MBA, but it’s worth is determined by you  and your career goals. My undergrad is in electrical engineering and that has served me quite we’ll. I was at a point where I needed to make a decision on what I wanted to do down the road. I could go back for my MSEE and become a technical expert or get an MBA and go into engineering management. I selected the MBA route because it’s required for future positions I would like to hold. Also, my company reimburses 15k a year for grad school. It was a no brainer for me. You need to determine what you really want to do and what financial return you’ll get on your graduate school investment.

Post # 15
Member
536 posts
Busy bee

It depends.  You have to look at the cost/benefit… If you’re going to a top 5 b school, then it might be worth the debt. Otherwise, I would only do it if your company pays.  I was lucky in that I was able to do a top school and my company paid for it.  If not, I would not have done it.

That being said, it seems like an MBA (or other graduate degree) is becoming more and more of a requirement once you reach a certain level.  When I was actively job searching last year, almost every job I looked at required an MBA.

Post # 16
Member
261 posts
Helper bee
  • Wedding: April 2013

I’d say mine was worth it. It might have something to do with timing though – I graduated with mine when I was 30, and at that time had about 9 years’ business experience as well. It’s given me an advantage in my last two job searches. My previous company paid for part of it so that gave me a break on the tuition. I also learned a lot more in grad school than in undergrad… I might have also been paying more attention!!

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