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Going for an MBA or not?

Old 06-17-2019, 05:40 PM
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Default Going for an MBA or not?

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?
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Old 06-17-2019, 05:44 PM
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I got my Master's (Infosec, not MBA) later in my early forties. I don't regret it. You'll get more out of it than someone just out of college, as they have no real experience yet.
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Old 06-17-2019, 05:48 PM
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I would think maybe specific classes could be a benefit to you and your business. You may find the majority of an MBA a waste, dunno. I would think you already know most of info in your business due to there success... Education is never wasteful but dont know if you will consider your time investment worth it, dunno..Advanced classes are not cheap..
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Old 06-17-2019, 05:51 PM
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Went back for MBA at 28. Undergrad business degree.

Some will say that for real value you need to be in a top 25 program, which is true if youíre wanting to work in certain fields or on the street. I had a good career at the time and leaving that behind, giving up 2 years of good salaries/bonuses to go to a ranked full time program wasnít in the cards for me.

I went to a good state school with an accredited program tailored for professionals - night classes, hybrid online instruction, etc. On my current career path my MBA will be a huge asset. If I was already working for myself it wouldíve been a harder decision.

A good program will take a lot of time. I had no kids but did travel a lot for work. Certain semesters worse than others. And itís a pretty good financial commitment.

It could definitely help if you donít have a strong finance/quant or accounting background and are looking to scale a business.
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Old 06-17-2019, 05:52 PM
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I went back at 35 but a different situation. I had an engineering degree and wanted to move up on the management side in sales / marketing inside a large company. I needed to understand more on the finance side so that I had a better understanding of where issues and questions were coming from. It paid off really well for me but I also went to a top tier school and my personal cost was very low.

In your our situation I think itís a waste of time and money. MBA crap wonít help much running a small business. You can hire experts in accounting or lawyers if you need help way cheaper than getting an MBA. You are already succeeding so you know your business. Most successful entrepreneurs I know didnít have MBaís. Iíd just focus on driving the business and spend the other time with family.

good luck
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Old 06-17-2019, 05:58 PM
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Originally Posted by Center Crusher View Post
I went back at 35 but a different situation. I had an engineering degree and wanted to move up on the management side in sales / marketing inside a large company. I needed to understand more on the finance side so that I had a better understanding of where issues and questions were coming from. It paid off really well for me but I also went to a top tier school and my personal cost was very low.

In your our situation I think itís a waste of time and money. MBA crap wonít help much running a small business. You can hire experts in accounting or lawyers if you need help way cheaper than getting an MBA. You are already succeeding so you know your business. Most successful entrepreneurs I know didnít have MBaís. Iíd just focus on driving the business and spend the other time with family.

good luck
Unless you want to sell your businesses and do something else, like go into corporate (which I'm guessing you wouldn't like), this is sound advice.

Maybe your current business situation is feeling a little stale and you need to shake it up. There are organizations out there that will pair you with a retired business exec who can serve as a mentor. These guys do this just for kicks.
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Old 06-17-2019, 06:03 PM
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My wife went back and got hers, but on the companies dime.

She weighs in on my business dealings consistently with great perspective, and I am way more experienced in business than she is. She never used to before her MBA program. Don't think she uses it much in her career (but could be mistaken) but she learned a lot, that's for sure.
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Old 06-17-2019, 06:05 PM
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What are you looking to gain from an MBA? You probably already know more than the people who would be teaching the classes.

An MBA is not going to turn your business into Microsoft and you would be spending $30+K, giving up your nights and weekends for a few years. You sound like you are successful already.
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Old 06-17-2019, 06:10 PM
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I would consider joining Vistage. It’s a proven Executive coaching organization that has peer to peer groups from non-competing industries that will teach you more than any MBA program. www.vistage.com
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Old 06-17-2019, 06:17 PM
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If you want the degree to prove you can do it go for it.

Otherwise, read. Use the vast resources available to you via the internet.


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Old 06-17-2019, 06:17 PM
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Disclaimer: Certainly not criticizing those who have done it as it is an accomplishment and worth it in some careers....

I completed my BS in Construction Management at FIU. Prior to owning my own GC company I was an executive at a very well respected local firm. Every guy who worked under me aside from the intern had their MBA coincidentally.

Many people in my industry went back to school when the bubble burst thinking the MBA would land them a cushy corporate job in another field. They were sorely mistaken. In summary they all had their MBA and aside from getting them a slightly higher salary, all the MBA left them with was one hell of a loan and some knowledge. Very little practical use. In my field for the record.

If you donít need it I donít see why to spend the 50k. If it can benefit your pocket then do it as education is one of the few things nobody can take from you. If I were you I would hire a business coach who can help you fine tune the areas in which you feel your business could improve on. The good ones are worth their weight in gold.
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Old 06-17-2019, 06:25 PM
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Most corporations are requiring it to get to a Director or VP level. If that is your goal, it then becomes a must have.
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Old 06-17-2019, 06:41 PM
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Originally Posted by chrispnet View Post
If you want the degree to prove you can do it go for it.

Otherwise, read. Use the vast resources available to you via the internet.
Unless different opinions pour later in the thread, it seems pretty evident that probably not worth it.

I did not know it until Chrispnet pointed out, but I guess he hit the nail in the head.
The only reason to do it is just to prove I can do it.

I guess I have much better things to spend 50K in than to prove a point. LOL..

Not looking to go back to the corporate world, and if life ever forces me to go back to work for somebody else, I guess I will be able to prove my worth in experience.

I guess I can look into specific classes/courses of interest to me or that could benefit me in my business.

Thanks to all of you for the time and feedback!

I will look into Vistage!!! thanks for that tip..
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Old 06-17-2019, 06:45 PM
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An MBA gives you two things. Knowledge and a piece of paper. Many jobs, particularly in corporate management, require both. From your description, it sounds like you are just looking for knowledge. If you can gain that knowledge in a less structured way, thats what I'd do given your expressed hatred of classroom work.
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Old 06-17-2019, 06:46 PM
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Have fun with your family, time invested in your kids is way better in the end. You say you are doing will financially, apparently you have learned by doing what they teach in class. If you want to tune up your abilities there are books to read and seminars to attend or watch youtube. I work for a lot of numbskulls with MBAs, they believe in whatever the newest book says and follow the herd babbling the newest buzz words trying to be revenant, while spinning their wheels going to useless meetings.
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Old 06-17-2019, 07:14 PM
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IMO if you have two businesses and have time to do lots of other stuff and/or are considering going to get an MBA, and regarding your existing businesses you say you are "guessing they could do better. I dont know." Those all tell me they are not great businesses and you are not committing to either one of them. If you want your business to be successful go all in (in one of them). An MBA isnt going to help you.
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Old 06-17-2019, 07:36 PM
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Old 06-17-2019, 07:58 PM
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My MBA was way easier than my BS in computer science.
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Old 06-17-2019, 09:09 PM
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Agree with the group. I don's see it helping in your situation. I got a masters in my 30s and it really hasn't done a lot for me career wise. It didn't cost me a lot because my employer covered most / all the cost. When shopping for a program, some were no gos right off the bat. I had some tell me, "We don't like people to work while they are enrolled in the program." OK, well thank you for your time...
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Old 06-17-2019, 10:24 PM
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My son is going through his now, brutal reading and studying schedule. it's six weeks of college every other weekend. It might be easier for online or lesser schools, but this week he was told to read 7 chapters each 70 pages long on top of other assignments due before class.
Full time job and this program leaves him slammed
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