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Going for an MBA or not?

Old 06-19-2019, 05:27 AM
  #41  
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Been through it. I agree it would not be worth it to get one for you. Another group that may be helpful is C12 group. My brother says it is useful.
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Old 06-19-2019, 05:51 AM
  #42  
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Originally Posted by emudryj View Post
I was wondering what you guys think, specially the ones that may have gone through the experience..

I'm 41 YO, have a BS degree in IT, 2 kids (13YO and 9YO so no babies)
I'm managing my own 2 business as best as I can, going by common sense, trial and error.
I started both biz from scratch, both are doing fairly good (both making money and allow us a nice life), but I'm guessing they could do better. Do not know.

When I finished my BA I vouched that I would never go back to school, I hated it.
Currently doing TONS of stuff for myself (FUN stuff) and the family every evening and weekends.

But.... I've been pondering about going for an MBA.
As I see it:
Pros: a- I guess I would learn stuff that would help me in managing the 2 business better?....
b- Personal satisfaction?

Cons:
a- Cost of the MBA (not sure how much yet) I guess I will look at either Nova University or FIU
b- Having to study again!!! Have not have to study much in the last 10 years.
c- will have to leave some personal fun stuff for 2 years (it says it can be done in 16 months but lets assume it takes me 24)

I know that for some people and MBA is a must have in their line of business... It is not in mine.

Anybody here that started to study back when late in life?
How was it?
Was it worth it?
if you started/managed two businesses that gave you exposure to all the different areas of business, then that experience probably outweighs MBA

for me, i started/managed a couple businesses. got exposure to all areas including IT, accounting, finance, HR, legal, M&A, etc. if that wasn't enough, i spent a few years at one of the largest consulting firms in the world. with that experience combined, i dont think i could get anything significant out of a MBA. i was already more senior and making more $$$ than MBAs coming onto the job market so it would be a step backwards in my eyes to waste time and $$$ for a MBA.

another key thing is if you can learn things as you go. everything i do every day is different. i learn, i adapt, i have been thrown into major consulting engagements with zero experience in a particular area and had to get up to speed and learn quick. if you can do that and think from multiple perspectives, you can do almost anything.
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Old 06-19-2019, 05:59 AM
  #43  
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Originally Posted by Bison View Post
If you plan to enter the Corporate world in the future go for your MBA, as corporate H/R organizations love advanced degrees.

If your intent is to improve the efficiencies and profitabilities of your own businesses, the you should take specific courses which you feel are skill needs you require or reach out to successful businesses in your field, but not in your area who are willing to share information with you and will assist your growth. Another excellent option is to reach out to business school dean in your area and ask to meet with a professor/s in the areas you feel require additional skills. Employ the professor/s as mentors and/or consultants. The assistance will be more focused, less time-consuming and more productive.

Lastly, but most importantly find a highly successful business professional in your region who is willing to meet with you, review your operations and will mentor you.

The MBA in and of itself will only be of significant value, if you intend to crossover in the world of large corporate environments. Their the MBA is employed as rationalization for promotion over other high performers. If you own run your own business you already know and do more than most corporate executives who have a minion of subordinates to whom they can delegate specific tasks. From the description you provided in your post you have a handle on the skills you need to improve upon, focus on those skills and growing your business.

Fred Smith the founder of FedEx was an ex Marine aviator who went to Harvard Business School and wrote his final thesis on the what became the business plan for FedEx. The paper barely earned him a C, as he was told such a service would never be profitable, the rest is history.
Agree with this 300%. You can take targeted extension courses for significantly less moolah. Even Hahvard has them now. Many of the theory classes will be nice to have, but not super useful if you have owned your own business for some time. The networking, particularly if you take exec/night classes (weeds out many youngins who have never held a job) will be invaluable.

Pick your school carefully, tho. It may be worth travelling a bit for a good school (weekend courses, lets say) than take crappy courses that are local.

You may also want to look into SCORE (Assocation of retired professionals). They may be able to help for specific topical areas.

Best of luck!
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Old 06-19-2019, 06:10 AM
  #44  
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A guy here at work has an MBA from Phoenix. One of the biggest idiots I have ever known.
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Old 06-19-2019, 06:16 AM
  #45  
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Originally Posted by Bison View Post
If you plan to enter the Corporate world in the future go for your MBA, as corporate H/R organizations love advanced degrees.
disagree

times have changed!

so many c-suite executives at fortune 100 and 500 companies do not have advanced degrees/MBAs

what companies do love is past experience

i have been involved in oversight of hiring for probably hundreds of reqs at senior levels at some of the largest companies, and one of the last things we have cared about is advanced degree/mba

in fact, a new trend that you will see is employers not caring about undergraduate degrees

Last edited by mystery; 06-19-2019 at 08:02 AM.
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Old 06-19-2019, 06:36 AM
  #46  
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I'm so glad I asked!!!!
Basically, most of the post are kind of describing my situation to the T.....

I'm one of those guys that knows that you never really know enough, there is always something new to learn, and that if I was doing OK without a formal education maybe I could have been doing MUCH better WITH one.

I see now, based on all your opinions, that is not always the case...

As background information, one of the business is in the Health Care industry and the other is more on the IT side but, still aimed at the health care industry.

And YES!!!!!!! in all these years I've learned a lot about everything (accounting, finances, hhrr, compliance laws, statutes, insurances, taxes, risk exposure, some marketing although I hate it, etc...)
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Old 06-19-2019, 08:39 AM
  #47  
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you need to work with a good consulting group like Newport Board Group or the likes...focus your energy on the business, and leverage your partners (consulting, tax, banking, law). Stay in your lane...its been working
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Old 06-19-2019, 09:06 AM
  #48  
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MBA is window dressing. If you have your own business, you have nobody to impress other than yourself.
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Old 06-19-2019, 09:11 AM
  #49  
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100% depends on what you want to do. I run my own business (independent financial advisor) and the MBA for me isn't worth the paper it's printed on. It would be a tremendous waste of money and time. CFP, CFA, and so on...now that would be the ticket. I imagine the same would apply for you.

In my humble opinion, an MBA is only beneficial if you want to work for a corporation. For example, maybe become a CFO or CEO (which doesn't happen overnight) or become the managing director of a finance department.

Running your own business though, 99% of your customers will likely not care if you have an MBA or not.
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Old 06-19-2019, 09:36 AM
  #50  
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Originally Posted by mystery View Post
disagree

times have changed!

so many c-suite executives at fortune 100 and 500 companies do not have advanced degrees/MBAs

what companies do love is past experience

i have been involved in oversight of hiring for probably hundreds of reqs at senior levels at some of the largest companies, and one of the last things we have cared about is advanced degree/mba

in fact, a new trend that you will see is employers not caring about undergraduate degrees
Yup..... there's Performance and Pedigree...... and performance wins every time

A lot of the people who got MBAs were the ones who couldn't pass an interview and get a job straight out of undergrad.
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Old 06-19-2019, 10:37 AM
  #51  
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Originally Posted by Kenny Powers View Post
A lot of the people who got MBAs were the ones who couldn't pass an interview and get a job straight out of undergrad.


i see most that went back for MBA were laid off, not succeeding in their entry level job, etc. It was better to say hey I went to get my MBA versus sitting unemployed looking for a new job.
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Old 06-19-2019, 01:07 PM
  #52  
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I got my MBA a couple of years after graduating and donít regret it- however, 20+ years later my MBA is not as valuable as my experience but it definitely has not hurt me. I was single and really no other expenses so it was a good option at the time. I would not go back in my forties as the clock is ticking for me and my family and you canít buy time.
i donít think a couple of year old books and a teacher who probably doesnít own or manage a business can offer you anything that you havenít already figured out through trial and error.
Good luck
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Old 06-19-2019, 06:52 PM
  #53  
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I went back (at 42 yo) and got my MBA from FGCU. Wasn’t 50k to get it, and they are a state college so decently accredited and economical. I work for a larger corporation, but honestly having my MBA hasn’t affected my career, as far as promotion/advancment is concerned. But actually sitting through some of the classes (marketing, HR), were interesting to see some other perspectives and get some different views on various aspects of the business world. I can honestly say I enjoyed it, have zero interest in going any further but I still find works items pop up occasionally that my MBA helps with. I’d say go for it, worst case you don’t enjoy it and don’t complete it.
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Old 06-19-2019, 09:33 PM
  #54  
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MBA is the cash cow of all schools....

MBA cost $50-80k in FL public universities
MS in engineering is probably $30k

Not to mention that now they offer a few different MBA programs. One for recent undergrads, one for mid level manager, one for executive level

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Old 06-20-2019, 04:27 AM
  #55  
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Originally Posted by mystery View Post
disagree
times have changed!
so many c-suite executives at fortune 100 and 500 companies do not have advanced degrees/MBAs
what companies do love is past experience
I have been involved in oversight of hiring for probably hundreds of reqs at senior levels at some of the largest companies, and one of the last things we have cared about is advanced degree/mba
in fact, a new trend that you will see is employers not caring about undergraduate degrees
That is only true with mid-level or lower executives at non-financial companies (where they still prefer quality MBA's). In most of the Fortune 100, the trend of valuing pedigree and education is still very much alive.
To be fair, no one really gives a crap if you have an MBA from the University or Phoenix, or most any other school outside of the top 25 - but an MBA from Harvard or UPenn is still a very valuable item.
For the OP, I agree with most on here - an MBA from a middle of the road school won't help you in your business or in getting a job later.
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Old 06-20-2019, 04:35 AM
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Originally Posted by LI32 View Post
That is only true with mid-level or lower executives at non-financial companies (where they still prefer quality MBA's). In most of the Fortune 100, the trend of valuing pedigree and education is still very much alive.
To be fair, no one really gives a crap if you have an MBA from the University or Phoenix, or most any other school outside of the top 25 - but an MBA from Harvard or UPenn is still a very valuable item.
For the OP, I agree with most on here - an MBA from a middle of the road school won't help you in your business or in getting a job later.
Yep. and the people who get their MBA from Harvard, Wharton, and the other top tier B-schools have a different path in life than the guy who gets his at UCF.

In addition, there are all kinds of employment circumstances where the MBA/graduate degree checks a required box, and having it/not having it is a binary qualification thing.
Those include a host of government jobs at the federal, state and local level as well as the bureaucratic contractors that support those bureaucracies.
These sorts of employers don't give points for school ranking. Graduate degree? Check the box.
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Old 06-20-2019, 04:48 AM
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Originally Posted by LI32 View Post
That is only true with mid-level or lower executives at non-financial companies (where they still prefer quality MBA's). In most of the Fortune 100, the trend of valuing pedigree and education is still very much alive.
To be fair, no one really gives a crap if you have an MBA from the University or Phoenix, or most any other school outside of the top 25 - but an MBA from Harvard or UPenn is still a very valuable item.
For the OP, I agree with most on here - an MBA from a middle of the road school won't help you in your business or in getting a job later.
sorry but i have worked for several of the largest companies (mostly fortune 100) most of my career in both the financial industry and technology/consulting industry

in my positions, hiring has typically been something i have had oversight or interest in as i typically oversaw a c-suite area in technology/operations. i typically reviewed all executive level reqs before they were posted.

i can tell you that in the past 5-10 years, i never see a MBA listed as a requirement on a job req and our recruiting/hr/hiring managers never went crazy over someone having a MBA. even at the executive c-suite level and direct reports into a c-suite executive. its all about experience, prior positions held/ companies worked for.

my direct experience is only for a few companies but i stayed current on hiring trends, worked with executive recruiters when trying to fill positions on my teams, and collaborated with peers at other f100 and f500 organizations.
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Old 06-20-2019, 05:20 AM
  #58  
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Most people in my exec MBA class were on a CFO or senior finance exec track at some large company and were just there for the credential, or were poets (liberal arts, journalism, etc.) who never took a business class in their lives and felt they needed the actual educational content.

The OP is neither of these so I vote don't do it (unless you want to sell your business to a big corporate and stay on as an exec).

Someone suggested Vistage which is a great organization. Many cities also have YPO chapters and other CEO-level groups where folks running their own businesses can get peer-to-peer advisement. Much better - and cheaper!
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