Any advice for MBA Prospects?

[Dijos]

My job will pay for B school. I have a few issues-The best ranked school that I have access to is University of Florida, because they have an internet MBA. I have some concerns about an Internet MBA, not for myself, but for how it would look to an employer. I have read that some recruiters look down on them, but realistically, it's not like I'm otherwise going to London School of Economics, or Wharton. Alternately, I can go to USF, where I recieved my BS. Or , the University of Tampa, which has a program that comes to my job, although that would take a large amount of juggling my schedule. Any input?

 

[losangeles]

I use the Internet for learning things and even took Internet courses to complete requirements for my real estate license. However, if there's a choice, I'd recommend taking a more traditional MBA approach. I do believe that there is a stigma attached to an Internet degree. I have an MBA from a top school and I think the higher rated MBA you get, the better it is with prospective employers.

 

[MikeH]

Many MBA classes are case-study based, and the classroom participation is invaluable, if you can endure the BS artists who try to bluff their way through the cases. However, any MBA is better than none at all.

IMO, the fact that you are already employed and will be going back for your MBA after some work experience really adds value to your MBA. You will have a different perspective than many of your classmates who come straight into the program from their undergraduate studies. It really helps when you can view what you are being taught through the lens of actual work experience.

I tacked a MBA onto my Electrical Engineering degree after several years of real world experience and it has been well worth the effort. Surprisingly, one of the areas in which it has been most beneficial is in managing my own investments.

Go for it!

 

[nenofury]

The fact that you are even asking is all the reason to go the traditional route. Nobody that matters would consider any internet degree.

 

[Dijos]

well part of my debate is getting an internet MBA from a school that is ranked, v. getting a traditional mba from a nondescript school..I was hoping that the Internet stigma wasn't as strong as it looks to be.

 

[SAKguy]

The amount of money that one pays to get an MBA is not worth the wage increase you will ever get. Hopefully you are doing it only to learn

College these days is a racket.

 

[Bob W]

Pesonally, I have higher respect for someone who committed the time and resources to really going to school. Most people I know with internet-based schooling already had jobs, got their credits paid for by their employers, and were doing it to meet the requirements for a pay raise.

Best Wishes, whatever you decide,
-Bob

 

[MikeH]

The amount of money that one pays to get an MBA is not worth the wage increase you will ever get. Hopefully you are doing it only to learn

I believe that my MBA has paid for itself many times over it's cost. True, it did not result in an immediate pay raise, but the expansion of perspective it brought led to some high visibility job assignments that paid off big time. It basically enhanced my skills set leading to higher performance and to more opportunities. The opportunities still have to be grabbed, nothing is automatic.

If the employer is willing to help pay for it, then they must recognize some value in it.

 

[SPHayes]

I would take the opurtunity to go to the tradtional school. I loved graduate school and found the personal interaction with the other students and profs to be the best part.
Patrick

 

[Bob W]

The amount of money that one pays to get an MBA is not worth the wage increase you will ever get. Hopefully you are doing it only to learn

I don't have a Master's, but my wife does. When she started teaching she received $5,000 more because of her degree. $5,000 x 25 years = $125,000. Additionally, she recieved her Master's through a special program that paid her to teach in the local public school while she attended classes on weeknights and in the summer. She still needed loans for two years of living expenses, but the cost of the education itself was not a burden.

In many fields, you quickly hit a "glass ceiling" without a Master's degree - sciences, for instance. In archaeology you cannot become a Principle Investigator without a Master's.

-Bob

 

[Dijos]

Yeah, to clarify, I'm 31, so I have a ways to go in my working life. And my job will pay the whole thing, except books and/or fees. Thinking about it, the thing that I enjoyed in a traditional setting was the give and take with the professors, and other students. My old professors were dying to have me come back for my MBA at USF.

 

[losangeles]

The amount of money that one pays to get an MBA is not worth the wage increase you will ever get. Hopefully you are doing it only to learn

College these days is a racket.

I'm not sure about an MBA from a local school, but I think it really does make a (huge) difference in getting an MBA from a top 20 school.

And there are some high-paying occupations that requires you to have an top school MBA or you don't get in. I remember Finance majors in top schools going into Wall Street investment banking and getting over $100,000 salaries out of school (I don't know what it is today but could be more). Back then, you got local school non-MBAs starting at $35,000 and you can see the difference.

Same thing with management consultants in top firms. You don't get in if you're not a top school MBA. Even in major corporations that accept all backgrounds, the top school MBA on average makes way more than the average college graduate Joe. (Yeah, there are always exceptions.)

 

[RH]

I have a lot to say on this topic, because I've researched it and because I'm right in the middle of it. Basically, the answer is...it depends.

It depends on a lot of things. I'll tell you why I chose my path.

I have a business undergrad, and a MS in MIS. At the time, I would have rather gotten an MBA instead of the MS, but the time required kept me away. I finished grad school graduated when my oldest child was 6 mos old. Any older, and it would have been tough for me to put the time in for the MS. I also wanted more tech skills, which the MS did give me, to supplement the solid technical skills from a specialized programming school. My company just recently lifted the salary cap on tuition reimbursements, so I jumped on an online MBA program last year.

At 37, I have been in the business world for 18 years (started in college), so I am not looking to make a splash or switch industries. I see it as something I've always wanted to do, but could not cost-justify at this point in my career, and could not afford time-wise (even a part-time program) with 2 small kids. However, with full reimbursement, I look at it as a $30,000 bonus I'm paying myself (approximate cost), and an insurance policy should anything happen to me or my company that would put me in a position to look for another job. All other things being equal, and MBA certainly can't hurt an applicant. And it shows to my current superiors a committment to my own personal and career development.

As far as school choice, several factors entered my decision. AACSB accreditation was a must. Without it, I think you're wasting your time and money for something that will get no respect. The school I chose also accepted my MS in lieu of the GMAT. That was a big plus, because although I usually do very well on standardized tests (my GRE to get into grad school was Mensa-level), I did not want the hassle and time delay to study for and take the test before applying to schools. The school I chose it is possible to do 100% online, meaning I don't have to take a weekend here & there away from the family. I'm sure those group encounters are invaluable, but I do not like being away from home as a rule. And the school I chose is reasonably nearby. I'll get to that in a minute.

For you, I think your only decision is which school. At 31, if you can do it on the company's dime, I say do it. You may not see immediate $ payoff, but I don't think you will end up regretting it. The positives of learning, interaction with other professionals, contacts and friends made will enrich your life, if not your wallet.

Now to school choice. I've heard it said that below the top 20 schools, it's all the same. Kind of like law schools. Again, depending on where you are in your career and where you want to be, it may not matter to you anyway. U of Fl. is ranked 43 in US News rankings. That's not top 20, but it pretty darn good. If you can do a top 50 school, vs. an unknown, I'd push for the ranked school.

Oh, and the online thing. Unless you're going to the University of Phoenix, or another of those internet-only places, you get the same degree as the brick & mortar student. I'm not suggesting deception, but there is no reason you would make it a point to tell a prospective employer that you got an online degree. Now, if I list 10 years of work experience in NJ, and an MBA from U of Fl. during that time, that's going to lead an interiewer down a path of questions, like, "are you capable of time travel?". But an MBA from a local university "fits", understand? I don't know Florida geography. If I'm looking at your resume and see work experience in Fl and concurrent MBA studies at U of Fl., it makes perfect sense to me. For that reason, I'd rather have my online degree from an unranked school that "fits" geographically, than an online degree from a higher ranked but faraway place. An MBA from Indiana or Michigan would have more pizazz, but could lead to questions.

My experience so far is that the "hard" (math, finance, etc) classes are just as challenging, probably more so, because you can't ask questions in class. It's up to me to read the material, do the work, and pick up the concepts. If you think it's easy, try squeezing a grad level class into 8 weks, and a 4-hour timed online exam in Quantitative Analysis, where 4 hours is not enough time to answer all the questions. The "soft" classes (management case studies, strategy, marketing, etc) is where I miss the give & take of the classroom setting and group work, but it's amazing what you can do online. I work building multi-milion dollar software with teams spread between here & India, so collaborating online with some students on a a textbook case study discussion is a piece of cake.

Hope this helps, and good luck.