What Do I Do About an MBA?
If you’ve been following me on Twitter, you know that I’m in the middle of a large decision: Do I start an MBA or not?
One of my favorite things about my blog is getting advice from people I know and look up to… So here are a few of my thoughts:
- Principal pays up to $5,000 a year for an MBA. Sweet.
- I’m not going to get any more free time as continue in my career… I’ll only get busier.
- I only have six months of “real” work experience.
- At this point, I’m not really motivated to get a lot of out of it… I love to learn, but I just kind of want to get an MBA over with.
- I paid a lot for undergrad and I don’t want to pay anything for grad school… So I might only do 3-4 classes per year.
So if you do think I should do an MBA… Help me with the other predicament: Drake vs. Iowa.
- I did undergrad at Drake, so I’d like to get a different experience.
- Iowa’s program is stronger… but it’s also harder, requires more credits, and is a satellite campus.
- But if you don’t get an MBA from a top 10 school, does it really matter where it comes from?
- Drake will be easier and more convenient… Two of my friends might start at the same time, which would make classes pretty easy with all three of us in them.
- Prices are the same, but Iowa requires 2 years of work experience. (I could probably start next summer/fall.)
After writing these things out, I think it really boils down to whether or not I want to do an MBA to learn a lot or to just get it over with… I’ve never been one to half-ass things, but I’m not sure I have the drive to work really hard at an MBA right now. On the other hand, because it’s free and I have the time, I might as well start, right?
You can probably see how my mind flips between choices… If you were in my shoes, what would you do?
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You need to decide if you want to “get it over with” or if you want to “get something out of it”. My opinion is that education should be for…you guessed it educating. Would you benefit more from a piece of paper or from the education you want to receive? I guess what I am saying is not to do it to do it. Do it if you want to learn what they have got. But then again this is all coming from a guy with no MBA.
Education is about “educating”… And if I’m in the classes, I’ll be learning a lot. Which I love. But it’s such a large time commitment… I’m not sure if I have the energy to put a ton of effort into it.
I feel that MBAs will become a commodity by the time I’m in my 30’s. And the longer I put it off, the more of an inconvenience it becomes… So I feel like I should go ahead and get started on it.
(FYI - I’ll probably change my thoughts with each comment. Ha)
Andy - I am just finishing up my MBA at Drake, graduating in May. I have really enjoyed their program and their instructors as well as their class sizes. I could see why you would not want to go back to Drake and I understand the value in going to another school. But, that being said, I highly recommend the Drake program. Did you know it has been rated the best MBA program in Des Moines by the Des Moines Business Record for two straight years?
But, as Toreym says, you need to be ready to go back as it is a huge time committment. Plus, it stinks to see your friends out having fun while you are studying, but it sounds like you would have a good support structure around you in the Drake program, so you would be fine…assuming you were actually ready to do it and not just doing it cause you think you have to.
@Pete - I’d agree that a lot of people in DM and even Iowa know that the Drake program is strong, but if you get anywhere outside of Iowa, most people haven’t heard of Drake or they’ll say, “So you’re going to school at Duke?”
It is a huge time commitment… but if a company is paying for it, shouldn’t I just start taking a few classes?
Andy, you indicate that there is salary reward with the MBA, but is it the same with any advanced degree? Is there another related field that may more fit your interests and ideals?
Do it. Do it. Do it. Now. Don’t wait. Never wait. There will always be excuses to put it off. As you said, you are only going to get busier. And if you only take 3-4 classes a year, it will take you a good 3-4 years to get through. Who knows where you’ll be then.
Like Pete, I am in the home stretch of Drake’s MBA program. Some classes have been… um, “tedious” while others have been life-changing. Overall, I’m so glad to have done it. I new perspectives on business, finance, economics, ethics, leadership, and simply the world around me. That’s what it’s all about, right?
I put it off for years and was THIS close to saying, “Aw, screw it. It’s not worth the effort.” If you are even considering it now, just pull the trigger. Regardless of whether or not you feel up to it right this minute or if you think a program is prestigious enough you’ll grow from the experience be glad you did.
@Debra - At this point there is no salary reward, but I can get up to $5000 per year to pay for classes. The MBA is attractive because I know I’ll want it at some point…
@Scott - I’ve heard a lot of people say to just do it as soon as possible. Thanks for sharing your experience. I’m glad to hear that it was worth doing.
Andy:
I teach in the MBA program at Notre Dame and my students are pretty unanimouus in thinking they made the right move — even the ones who graduate with $80K in debt. The value is not just what you learn, and the ‘credential’, but the close relationships you forge with fellow students. You should consider that when you make your choice. This will be your network, choose wisely.
I am getting a business degree, not an MBA, but an MSF (just a few credits shy of an MBA that I could complete in the future if I want.)
I love it. I love learning, and I think a business education is incredibly interesting.
The reality is, you won’t know until you begin. The cost to apply and take at least 1 class is worth it, perhaps you could work/go to school at the same time for 1 class.
But I think grad school helps you figure out more clearly what you want to do in life, the classes are more specific and detailed. I haven’t met anyone in grad school who is floundering in their lives either, precisely because it is a deliberate choice for most people, not like undergrad where many students are going through the motions. Classmates will challenge you, just like the teachers. You’ll think, “Geez, I would love to be smarter than that guy who keeps talking.” So you are motivated to work hard. The networking and the relationship building is worth it as well.
I say, go for it.
Hi-
I am currently a full-time MBA student at the University of Iowa. As you are making your decision, I would really consider what type of career you are hoping to have later down the road. If you want to stay with Principal and just gain additional business knowledge through an MBA, a part-time program might be the way to go.
However, the full-time program is ideal if you are hoping to switch into a different career, industry, or both. The opportunities available in a full-time program are life-changing and I really don’t think can be replicated in a part-time program where you’re not fully immersed in the whole experience. I also think it’s really important to have a few years of work experience before starting a full-time program, it helps you from a career standpoint as well as how you’re able to connect the classroom material to real-world applications.
I have a friend who is doing his M.S. degree in engineering at Iowa State through their online program and he loves it. He has two years of work experience, but he is still working full time.
I say do it. It sounds like it is something that you know you want to get done, and in the future you may not have the time to do it. I switched majors (for my B.S.) my senior year of college and added two years on because I knew it was a degree I wanted and needed and that in the future I wouldn’t have time to go back to school and get it.
@carol - I completely agree with you about the network that comes with the tuition bill.
@Milena - I’m kind of thinking the same.. I might as well do one class and see how it goes, right?
@S. Andersen - How do you like classes at Iowa? Where did you do undergrad?
@Jessica - That’s a pretty bold move to switch majors your senior year? Are you glad you did it?
Do you have the option to wait a bit? The whole free thing is a huge plus, but I would wait to see if this is something you are ready to commit 3-4 years of your twenties and and thesis to.