MBA - is it worth it?

for those of you who have your MBA, do you think it was worth it? i mean, has it helped you get to a position and make more $ than you would have if you had not gotten it?

not trying to be mean or anything, but i'm really only looking for insight from those who have attained their MBA (i know there are many people who have been successful without getting it).

I don't have one, but my brother in law does. He makes good money. Only downside, if you would call it a downside, is that it somewhat limits you to the job market I think. Once you have a masters, you kind of expect good paying jobs and aren't willing to look at others that may bloom in to a good job. My bro in law is in that situation now after living and working in Seattle for 5 years. He has a hard time justifying moving over to this side of the mountains and taking a 30% pay cut. Cost of living is cheaper, but the brain hates to see that huge cut in base pay.

All that said, I wish I had done more in college. I would have probably been making the money I make now, 6 or more years ago.

Just wanted to subscribe to this thread.... Want to see if there is actually a case where someone says this....

"I could be a much more successful individual, more doors would be open to me, if I wouldn't have wasted my time getting an MBA."

just an fyi that I'm not trying to start a fight or anything like that.

i know it might seem like a silly question, but i do personally know of one person who seems to question themselves about whether or not it was worth it for them. i'm 26 yrs old, have 3 years professional experience, and am at (what I think) to be the optimal time in my life for pursuing one. now i need to try to decide if spending $40-$60k is worth it.

In a kind of similar situation.

Are there people at your work with them? Have they seemed to benefit from them?

my boss, 4 down from the President/CEO, does not have hers. she is 32 yrs old, and has acheived "Officer" status of a company that has come through this economic crisis with flying colors. we have over 60k employees, and we're voted #1 in America for our industry (not bragging or anything...just providing some background of the situation).

her mananager does have his, and he asks her quite often if she plans on getting it (from what she says). i don't think many of my peers, if any at all, have them.

I have a BSME and went back for an MBA after being "in the real world" for 7-ish years. Worth it? I think so.

Recruiters for the top ($$) jobs aren't trolling the state university MBA graduation ceremonies for the next $400k/yr job candidate. I think a lot of people hear "MBA" and think about the top graduates from the top business schools....those folks have opportunities seeking them out.

For most, an MBA is another credential you earn to help you seek out the next / better opportunity...the MBA by itself isn't going to automatically turn into money. You still have to go out and use it.

For me it helped expand possibilities. Prior to the MBA, I was "an engineer". Not that that is bad or not that I couldn't break out of that, but the MBA made it easier to sell myself for a position that wasn't a straight engineering position.

The combination of the engineering undergraduate + MBA has worked for me. I've been on a number of business trips expected to be filled by business majors / sales. The people on the other side of the table try to sight technical reasons for hold ups. It's fun to call them and bust out the drawings and specs to solve the "issue".

Plus I figure there are many people with MBA's now, so there is a better than even chance that I will be up against someone with an MBA in the next opportunity I chase. Got to keep up with the competition.

I have a PHD - got it for 250 bucks on the internet. Best investment I ever made.

Dr. -Out!

There are a lot of times where you can progress within a company without an MBA based on merit and proven competency, but if/when you go to change jobs, you may find that an MBA is a baseline requirement for the type of work you're used to doing.

A lot of folks prove themselves competent managing increasingly larger pieces of business within any given company. But when an outside company is looking for someone to manage a business worth $XX million, they may want the reassurance that the paper provides.

(currently halfway through an executive MBA program)

(Message edited by supraman on February 01, 2010)

It obviously depends on the company on how much a MBA will benefit you. I think it's extremely rare when it'd hurt you. In most companies - especially larger corporations, it will help you to move up. The way I helped talk myself into going back to school was by telling myself it'll take only 2 1/2 to 3 years (got it while working full-time), and it's something you'll then have for the rest of your life. I thought about going back to school for a few years before doing it and knew I'd think about it and possibly have regrets for the rest of my life if I didn't just do it.

^^ Good advice. Guessing you don't have kids et al. If it is something that you think you will want to do, get it done while time is more plentiful.

Steve, Brett +1

Jay, are you planning on staying local or moving around the country? Will your company pay for it or some of it? I too am a MN boy, have 2 business degrees from the University of St Thomas and will go back one day to get my MBA (when I find a company to pay for it). My older sister is at Best Buy corporate, just got her MBA from UST and got a huge raise becasue of it (and they paid part of hur tuitiom). She was able to take evening classes at her pace and actually had local industry professionals as profs as opposed to Carlson (U of M) where you are lucky if your TA even has English as a first language. You are in banking of sorts (if I remember correctly) so of course it can't hurt. If you can do the work and make the logistics and cash flow work, why not get it?

Yes, my company will pay up to 75% of my tuition, however, you are committed to stay for a few years afterwards (you have to pay back if you leave early). I'm thinking it'd be a wise choice...it's just a HUGE commitment!

If my company would pay 75% it would be a no-brainer!

I have an MSA ( Masters of Science in Accounting).

That said , when I've hired in the past an MBA does stick out to me, but if it's from a community college on the weekend , it doesn't gain much merit from me or my collegues.

In my business is does matter where the MBA comes from.

Are you expeting an immediate jump in pay? IMo not likely to happen.

What are your expectations? money, coporate success, more opportunity??

"up to" is the key phrase. more research needs to be done on my end to find out what exactly needs to be done in order to get that much, and also i think the mgmt for my Business Line needs to that figure. also, yes I would be local, and would do it part time.

It is a huge commitment. To this day when I think about it, I still appreciate getting off work and having my time to my own or family's rather than going to school or studying. I really don't like going to school. Remember, though, you'll be done in a few years, and you'll have that degree for the rest of your life.

Also, if a job that paid well enough came up, you could always leave your company and just pay back the tuition.

it would be from an Accredited institution (possibly the Carlson School of Mgmt, but that is a long shot).

"What are your expectations? money, coporate success, more opportunity?? "

all of the above. and no, i wouldn't expect an "immediate" boost in pay.

I got mine while working full time. Jumping into was like standing on the bank of a rushing river...looks pretty knarly from the bank, but once you jump in and get in the flow, it's not that bad. I also had one small kid when I started and added a second during. My day job had me traveling around the US a couple times a month too. Nothing like going home to eat with the family, pack a bag for the red-eye, go to class 'til 10, hit the red eye heading east, and be in a meeting on the east coast the next morning. I would finish business and catch a plane back. Luckily I was able to sleep like a rock on a plane. It all sound really bad when you're not in it, but it you decide to jump in I think you do get used to the pace.

I have an MBA and MPA (public version of the mba) and am very happy I decided to bite the bullet and do it. I knew I may regret it later if I didn't complete them, and I am already seeing the benefit in my current job.
With that said, it is a big committment. I found a program that was 100% online through state university, so it made taking the classes much less of a hassle.
I was not offered any reimbursement by an employer...if I had I would have started much earlier.
What I have found is that what I have learned from work experience is more valuable then what I learned in the graduate program. In all honesty the degree has simply helped me be more desirable for promotion or job changes...it really hasn't enhanced my knowledge. Maybe that is becuase my undergraduate program was very intense and covered a lot of what is covered in a typical grad program. Either way an advacned degree does help your promotability, even if it doesn't help your day to day work.
Good luck!
There have also been recent changes to the tax code that allows more credits and write-offs for grad school than ever before and ups the income limits. It makes paying all that tuition a little easier at the end of the year.

im on that fence now. Im an engineer with 15 years experience and pretty bored with the job. I really want to start an engineering company. I though getting an mba directed towards entrepreneurship would help out in that regards. Obviously, I'd have to go to a good school, not just somewhere to get a piece of paper.

Anyone think theirs would have helped them out in that regard?

Steve, if you are a mechanical engineer, why didn't you get a masters in mechanical engineering instead of the MBA?

I thought an MBA would provide a broader background that would open more doors than the masters in Mech engr. At the time my desire was to increase my "promotability" across different disciplines rather than just in engineering. It seemed to me the MBA was a better fit for that. Plus I had been working at various levels as primarily an engineer for about 7 years. At the time it seemed like there was a brave new world out there beyond the engineering department. Again, the MBA seemed like the better ticket.