MBA or Career?

[jagstang]

Ok, so here is the lowdown.  I'm about to graduate with a degree in finance from the University of Missouri.  My GPA sucks, but if I own the GMAT I'll get into our MBA program, which is pretty good.  I could also get into a less prestigious MBA program, too.  Bottom line, if I stay in Columbia, MO for my MBA, I'll have a poor-paying but fun manager position at my bicycle shop, most of my friends would still be here, and I like it here.

Alternatively, I could accept the job offer I've gotten, which is selling home refinancing, auto loan, etc for Wells Fargo in Kansas City.  It pays $30k plus performance based bonuses, and has a nice benefits package.  That's pretty sweet considering the job market for my major right now.  But I would pay a lot more for everything, know no one, and live by myself in suburbia, or maybe downtown KC.

All things considered, what would you do, were you in my shoes?  The job is a safe bet, the MBA is risky but potentially rewarding, and I'm a little overwhelmed with school right now.

[somegirl]

See if your job might down the road pay for MBA night school.  Some companies do that.

[jagstang]

See if your job might down the road pay for MBA night school.  Some companies do that.

After working for a year, it would pay for up to $2,500 per semester.

[ducatiz]

it sounds like you have a lot to think about

is night school an option for you?  It is very ahrd to do by the way.

will your employer allow you to work flexibly and go to school?

education can't hurt you, but you need to have a plan.

[cyrus buelton]

be advised that most MBA Programs prefer 2-3 years of work experience prior to getting your MBA.


Personally, I think getting your MBA right out of school is worthless.

You have no real work experience, so the benefit of the MBA is weak.


As a fellow finance degree holder, good luck on employment. Take what you can get.

Everyone wants Accounting Majors.

[jagstang]

If you graduate from MU with a BSBA, they love to roll you right into grad school.  Many of our undergrad classes count for both, and they even wave a bunch of application fees.

[James.M]

full-time worker and year around full-time student (part-time during each semesters), I suggest MBA

[Snips]

It probably depends on the profession.

I'm in software engineering management, and I pretty sure that a MBA wouldn't cut much ice vs. solid experience at a reputable company.

In my experience, qualifications get you through the door at the start of your career, from then on, it's track record.

Obviously that's not true for everyone, or there wouldn't be a market for MBAs.

Good luck.

[jclin]

MBA is better in the long run. If you can cut it and it doesn't hurt you in terms of employment later, than do it (in other words, would experience for 2 years count more than MBA for 2 years?). Even if lack of experience hurts you, I still would put an extra point or two in the column of getting an MBA because it'll be better in the long run.

And, as you said, the economy is a bit rough right now. What better way to ride it out than going back to school?

My personal feeling is that having a higher degree will generally increase your options later. Works in almost every profession...

You can always get anecdotal evidence that says experience gets you more than a degree, but I would look at actual statistics in your chosen field.

[akmnstr]

In my field, which is in science, there is no OJT that will ever make up for an advance degree.  My advice is to do Grad School full time, forget night school, and f*ck Wells
Fargo.  My wife worked for them many years and it was a dead end trap.  Your young and making time for school is much easier now than when you are older and have
more going on in your life. 

[jclin]

I just got my Ph.D. in chemistry, and I haven't looked back. That's why I will always vote for the advanced degree when people ask these types of questions.

Don't know too much about the business field, although all the business people I know are always studying to get that extra certification, so I think the culture of schooling is still prevalent even in business.

[ducducgooseme]

Double edged sword here.   If it was any other advanced degree outside of business, I would say get it now while you are young and without kids and a mortgage.  It gets more complicated later in life.

However, the other edge is that unlike a science based advanced degree, a business degree is mere theory without real life practice.   I run a software company and I laugh at young people who really talk up the MBA at 24 years of age.  Imagine taking a motorcycle class without ever riding a motorcycle...great theory until you get on the bike and hit the first curve.

If I was you, I would look at the job you are being offered...is it a career job for you?  Do you need the money right now?  How is your debt situation?   Those are also drivers for you.

No one can really say for certain if the MBA right now is the right thing for you, besides you.

Good luck!!  Hard choice for sure.

[BWClark]

...Bottom line, if I stay in Columbia, MO for my MBA, I'll have a poor-paying but fun manager position at my bicycle shop, most of my friends would still be here, and I like it here....

Bird in the hand man! You're having fun, your friends are there, and you can do the MBA thang for the "future" part of your life. Stick with that shit and don't mess it up by taking some job which might not be all that. It's hard to go back. I usually don't support MBA stuff that much because I think experience is more important, but the "fun" part of your statement got me, and that equals MBA. Stay put.   

[jagstang]

Great advice from everyone, it's a lot to think about.  I didn't even consider an MBA until this morning, when I jokingly mentioned it and someone thought I was serious.  I have no plans set in stone yet, so we'll see how things shake out.  I think I'll aim for grad school and see what happens.

Thanks!
-Nick

[superjohn]

Your opportunity costs will be paid for in 5-10 years if you stay on the MBA path. You could see if your potential employer would pick up the tab, but in my experience they will not compensate you to the point another company will for that same degree.