Thread: MBA's- Still worth something or not?

Originally Posted by D-VO

Your actual skills matter infintely more than the piece of paper that says you have them. Sometimes you need the paper, sometimes you don't.

I would never argue that but it does depend on the situation. I'm about to go off on a tangent, but I think it could be useful to the OP. I can relate to your situation. I am an upper level student in a top 5 school in Canada. I just wrote my LSAT's and got a solid mark. Not as high as I'd like, but law school is still an option. I have one more year in my undergrad. But I am in a program I could never see myself doing in the future, Political Science. I have no interest in a career in politics at this point. I even have family members who've been involved in all levels of government and it's paid off later in their careers considering they've all left politics to go to private industries. But it doesn't really appeal to me. So I have a BA that is useless to me essentially. If I go to law school it's a means to an end but otherwise it's a bit of a waste. And of course, I have student debt.

If your set on law school or an mba, one or the other, then this might be irrelevant. But for me I had to weigh the pros and cons. I wrote my LSAT's because I had a free opening of time early this year and it's something I just always wanted to do. But after talking with every lawyer I could and being an exec of a "pre-law society" at university I was able to pick the brains of a wide range of practicing lawyers and judges to get a sense of what it's REALLY like. No movies, no myths, just facts. After visiting some firms and sitting in on jury focus groups, etc, it's not as glamorous as most people think, it's alot of longgg hours in the office, it's not as good of pay as you'd typically think. Eventually you could make partner or start a practice of your own, both of which the rewards come later in life. As far as I understand it's a real grind. To each their own, but I am seriously reconsidering.

That's not to say that there aren't niche/unique lawyers who find super interesting jobs in house or working a unique field. I am generalizing here. Just trying to show you the other side of the coin, that's all. I hope this doesn't offend any lawyers on here. At all. I still love the mindset of law and analyzing things to death. It could still be in my future.

School will never hurt you, although the debt could set you back. Having a BA is something my parents gently pushed on me (one of 6 kids, all of us have or are in the process of getting a degree, some with multiple/professional degrees) because it's something they've always regretted not having. They've always been entrepreneurs but I know of a few high profile positions they've been offered at universities and school boards, etc, that would have been their's had they had degrees. So I am finishing mine up. A fall back? Damn expensive one, but sure.

As far as the MBA is concerned, go get a job first, then worry about it. I am buying into a new startup of my parents in the hopes to take it over in the next 3-5 years. If I think an MBA would benefit me once I learn EVERYTHING there is to know about it, I'll go for it. Without it I can already pinpoint a bunch of things I'd update/change because my parents do things failry old school. If I was to land a job where all the upper management had MBA's, I'd definitely go for it. You need the work experience first so focus on that. Don't bog yourself down. Network with people and try to get in touch with companies you could see yourself working for. Get an internship. Throw in some volunteer work/extracurriculars. You'll thank yourself later.

So with that said, I would suggest you make a decision about Law school first, because you need to write you're LSAT's then apply which takes a LONG time. If you bomb the LSAT or decide later you don't want to become a lawyer, no loss. (PM me for LSAT study info if need be.) Then deal with the MBA question later. 2 years MINIMUM is what it takes here to even be looked at. And a high GMAT score.

In my mind there are 2 life paths that typically arise out of this argument, no matter what point in life you are at:

1.) You want to start your own business/become an entrepreneur?

- You don't neccessarily need ANY school.
- School could help, but won't likely teach you half of what you'll need to learn specific to your business.
- School might teach you alot of things you won't ever need, so why waste time/money learning them. Self education may have an extremely lower opportunity cost.
- Realize you might fail. You could lose everything. Make sure any and all involved with you are aware of this (moreso significant others/family).
- Go for it. Self education is a powerful thing. Even treat it as if you are in a real school. Do something that interests you and can bring a handsome profit. Get obsessed.
- Work towards a self sustaining business which allows you more freedom than you could have with a regular job, ultimately retire early.
- "Ever Failed. No Matter. Try again. Fail better." If it all goes to sh*t, pick yourself back up as soon as you can. Figure out what went wrong and either turn to the next idea if the last one failed because of you. Otherwise, change your business model/plan and start up again.
- Stay committed to your goals. Stay on track. Set up routines if you need to, just don't get sucked into mundane details that someone else could be doing for you. Think big picture.
- This obviously doesn't apply for "professional" jobs, ie. doctor's clinics, engineering firms, architecture firms, law firms, banks (not ACTUALLY 100% sure on that), nurse practioner clinics, dental clinics, and a few others where you need to fulfill school requirements to be a member of a governing association.

2.) You want to work for someone, enjoy job security, and not deal with the rest of the bs?

- Get a good education. Work hard through highschool/university/college/graduate studies/professional school to get yourself alligned with the BEST schools, because they statistically get you the better jobs. Do NOT coast. If your program doesn't interest you, get into something that DOES.
- Become well rounded and involve yourself in as many extracurriculars you can afford to, as early as possible. These increase your competitiveness when applying for schools/jobs.
- Don't be boring. You will eventually need to be interviewed. lol.
- Unfortunately marks matter. So work hard for them. Don't let others bring you down.
- Get some fresh air once and awhile.

I have a MBA from a private university in Florida. Having a MBA is not the end all be all. You have to decide what you want to do for a career. I have interviewed at some financial firms where everyone in the office had to have a MBA or JD to walk in the door. While some of these situations might be rare it could be important to you. In any job market having an MBA will not hurt you. It is all about getting your foot in the door. As some other have already mentioned, networking with fellow MBA classmates is crucial.

I have found that the MBA doesn't really cover any more content than what you would have learned in business BA. The MBA is where you go to use what you learned and develop your skills. The research papers are focused on how will you fix something instead of tell me about this theory. Be prepared for a lot of group assignments.

Another thing you get with most MBA programs is an internship which can open doors for you as well, especially if you can get one in a field you love. A buddy who went to Kellogg (Northwestern, top 5/10 school depending on who you talk to) got one with a small tech start up in New York - went to work for them after and is 3 years later is one of the directors of operations.

Thanks for all that info, it really gives me something to think about

It's a big choice, sorry for the HUGE frickin' novel but clearly I've done lots of thinking about it as well, definitely options out there!

Once again, best of luck man.

I am about to graduate with my MBA from a non-top 20 school and I still feel it has been worth it. Like others have said, sometimes it is a requirement just to get into some areas of business. It all depends on what you want to do and where you see yourself in the future.

Originally Posted by HERM3S

Another thing you get with most MBA programs is an internship which can open doors for you as well, especially if you can get one in a field you love. A buddy who went to Kellogg (Northwestern, top 5/10 school depending on who you talk to) got one with a small tech start up in New York - went to work for them after and is 3 years later is one of the directors of operations.

The only MBA program I would consider is Kellogg or U Chicago (NU undergrad right now)

The purple and white, same as my school! lol. Different countries though.

I'm going to try and get some internship work this summer if possible, my dads lawyer is a partner in one of the biggest firms in Cincinnati

1 - life is what you make of it

2 - t10 school is better than < t10 school

3 - what do you want to accomplish? mba w/ no experience < mba w/ experience.


- chuck