Question about MBA

Quote from lasner:

So what would you say is an equivalent of an MBA a decade or two ago?
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Like Mecro I'm not sure financial services are even CLOSE to where the emerging job creation is headed. What do you want? To be bullet proof? Then go into healthcare. Perhaps Temple has a program where you can specilize in Health Care management. The notion of being a pseudo investment banker etal is WAY over.

In a relevant aside though. I know a woman who got her MBA relatively late in life (40) and she's working as a branch bank manager making 45k a year. Know what? She's thrilled. Pre-MBA she was virtually unemployable. (she'd been a teacher but high paying education jobs are increasingly scarce)
 
Quote from rwk:

UCLA, 1976 -- I tried the corporate route for a while. There were plenty of jobs. The corporate life just didn't fit.

Many people pursue a graduate degree to compensate for some shortcoming. It doesn't work for that. An MBA probably won't open any doors that you cannot get in without it. You will still be the same person you are now. It's better to find out who you really are rather than who you want to be. Then go do something that fits. That might not be trading either.

The strange thing is that when you quit doing what doesn't work, it doesn't feel like failure or disappointment. It's a big relief.
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Where do you work now? I hate to say it but I've given up on trying to find what I want to do or am passionate about. I've lost the drive. I'd love to be a trader but I'm now just focused on realism.

I want to get the best CAREER I can get. I'm not looking for a job
 
Quote from lasner:

With a college degree nowadays it gets you nowhere.
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In my experience, your expectations are misplaced. The degree helps get you in the door & maybe negotiate a higher starting salary - after you're in, your performance plays a much larger role in advancement. (Obviously you'll find some exceptions depending on the industry & specific manager).

Too many grads of prestigious schools graduate and then want advancement based on their school's credentials. When this doesn't happen, they quickly become disillusioned and blame the degree rather than searching for the real reason. A good MBA provides the graduate with knowledge & tools to help their performance, productivity and their comprehension of the business environment. This knowledge can be a real benefit (to both the individual & the corporation) if used to advance the business.

Historically, Goldman was a good example of this. The degree(s) helped get you in the door but after you were in, the paper was useless. You had to produce strong results or they didn't want you around.

R
 
Quote from lasner:
Where do you work now? I hate to say it but I've given up on trying to find what I want to do or am passionate about. I've lost the drive. I'd love to be a trader but I'm now just focused on realism.

I want to get the best CAREER I can get. I'm not looking for a job
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I was a computer programmer before getting the MBA, and I stayed in infosys. I eventually drifted into contract programming (temp work), and that gave me the time and money to explore alternatives, mostly of the get-rich-quick variety. Now I make my living trading from home, but it hasn't been the quick, easy money I first thought. I'm in a difficult period now, but my system has worked for over 5 years now, so I am not too worried.

Your situation sounds like job/career burnout -- been there, done that. Nobody can light a path for you. Your financial situation (savings, credit, expenses) will determine what your options are. Your best bet for now is to buy time to explore your options. I suspect grad school (MBA or law degree) could be a mistake. Don't feel bad about not knowing what you want. Even people who do know, sometimes find they are wrong about it.
 
Quote from lasner:


I need to specialize in something
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I used to tinker with electronics when I was little and I wish I went back to that when I was picking out schools. However, I was too dazzled by finance & business.

My advice stands, learn a technical trade. Some of them are very lucrative. Electricians are in demand by renewable energy industry. Good technicians who specialize in power are a valued commodity. Relay technicians and power engineers are highly valued by utilities.
 
Quote from lasner:

Realistically I can't get into a top 15 school.
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top 15 is all that matters. anthing else is a negative unless it is free for you.

i would be more impressed if you got an MBA at a mediocre school in a foreign country, at least then it shows you're not a complete drone.
 
Quote from rosy2:

top 15 is all that matters. anthing else is a negative unless it is free for you.

i would be more impressed if you got an MBA at a mediocre school in a foreign country, at least then it shows you're not a complete drone.
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You would be impressed. I would too, its something I looked into. Most employers wouldnt care unless its LSE or something.
 
Quote from lasner:

Hey I have a question for anyone out there that has an MBA?

Has it helped you at all? Right now I'm applying to Temple. They are ranked in the top 50. Realistically I can't get into a top 15 school.

I'm looking to get ahead. With a college degree nowadays it gets you nowhere.

I was wondering how much it's advanced your career.
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If you are not bright (GMAT <600) it will probably help you.

If you are very bright (GMAT >700) then you need a top ten school, otherwise the degree won't add value.

If you are super smart (GMAT >760) then there is no need for business school. Many good, large hedge funds will take you based on your score and a good interview alone.
 
Quote from killATwill:


If you are super smart (GMAT >760) then there is no need for business school. Many good, large hedge funds will take you based on your score and a good interview alone.
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Will they interview people off a GMAT score?
 
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