Post # 1
I have a family member currently studying business and art in undergrad, and he’s thinking about doing an MBA right out of college. My feeling is that it’s better to get some work experience before getting the MBA, but I don’t work in that field.
<div style=”font-family: sans-serif; font-size: 17.9776px; widows: auto;”>Do you have an MBA? When in your career did you do it? What was your career goal? Was the degree beneficial? What would you advise for someone thinking about pursuing the MBA? </div>
Post # 2
I would advise against it. The biggest part of the MBA is networking with the working professionals in your class. People speak about their work expierences and present group projects on it so the entire class can learn from these expierences.
If you haven’t worked, you have nothing to contribute to the class. Also, you won’t take as much away from it.
I am in a part time MBA program now, and I’ve been in the workforce for 6years. I definitely think now is the right time.
The only reason I would advise going right after undergrad, is if he got a full ride.
Post # 3
I 100% agree with all of this.
Also, it will make a HUGE difference in salary. I have an MBA and now do a lot of interviewing of current MBAs looking for a job. When we get someone with no full-time work experience, it’s a little harder to slot them in the company. If they’re phenomenal, we’ll make them an offer, but the pay is just a little higher than if they just had an undergrad degree. It’s nowhere near the salary we offer to new MBAs with work experience – even if they just have 3 years.
Post # 4
Thanks for the responses! I figured it’s better to have some real life experience to relate to the MBA coursework. I know some MBA programs admit students without experience, but I wonder what the outcomes are in terms of job placement. Are they just trying to generate more tuition dollars?
How is a part time program different from a full time one? Did you change your work hours for the program?
Post # 5
Another good part about being employed and pursuing your MBA is a lot of buisness will give you at least some help towards paying for an MBA. I’m going for buisness degree in analytics (so not an MBA, I think it’s considered an MBS *masters of business sciences) My employer is giving me $5000 a year to go back to school.
Having taken some classes with a range of people, those that just graduated, those that have been out for a few years, and those that have been out for decades, having been at least out for a while makes you more interesting in these classes, and the more interesting people tend to stick together. I occasionally have coffee with one of the guys in my class who I also work at the same place with, and we are now passing information back and forth about things that we are seeing changing in our business and relating it back to our classes.
Post # 6
Also there is usually an internship component for MBAs and some prime companies will not even consider interns who do not have previous work history prior to entering the MBA. Not to say one wouldn’t still get benefit from it, but agree with PP that it is better to work a little bit then go back. (FI has his MBA.)
Post # 7
full time, you quit your job and just go to school for 2 years (pros are that you do an internship in the summer and usually get a really nice job offer. Con is that you lose two years of income and there are no guarentees in life that you will get a job offer. You will have debt most likely.)
Part time, I keep my job, same hours. Go to class mon and thurs nights. It’s very managable. Plus, I still have my paycheck and my company is paying for a little bit of it!
Post # 8
I recently decided to go back to school for my MBA, so I have done a lot of research on it.
In the end, I think it is much more valuable to go after you have some experience.
I work with people now who went right out of college and say they learned a lot, but they are making the same amount of money as me with just an undergrad.
At my old job, they pay for you to go back to school, so everyone waited until they worked there for at least a year or two and then took advantage of that. The people with MBAs there shine so bright compared to those I know that got it right out of college. They are making a TON of money and move up the ladder very quickly.
Post # 9
I’m in investment banking and although I don’t have an MBA I can give a perspective from what I’ve encountered in my work. I think whether to go straight through grad school or have a few years experience depends on the end goal. Most investment banks have analyst programs where you start right out of undergrad. These firms understand that the individuals who take these positions are going to work for a year or two and then head to grad school. On the contrary I have friends who have went straight through undergrad to an MBA program and have been picked up by PWC or EY (consulting firms). These guys are starting at ~75, while the IB guys are starting at ~60. Yes, firms do offer tuition assistance, but the expectation is you work at the firm for a few years after completion or pay it all back. I cant speak to academics but this is my observation.