Do you have an MBA?

[BrianAlt]

Originally Posted by Dee

How do you manage it without spending a bunch on it?

Few ways to try to make it cheaper:

• State schools are cheaper
• City schools are cheaper (I went to Baruch)
• See if your company pays for all or some of your schooling
• Grant money

[william]

An MBA might open a door, possibly teach you about finance.

Aptitude will get you further.

[deznice]

Originally Posted by chaosinfinity

Well the one thing about an MBA is don't look at the dollar signs yet, look at the direction you want to take. Really its a choice you need to make. I myself am going into a New Venture/Entrepreneurship specialization.

What will really differentiate you is a vertical. While the classes are great, the ability to apply it to specific verticals is where you can make the difference. I'm more in the Technology and Engineering vertical(cause of CS undergrad and Software Engineering grad). So in my case I would have two options: one is to start my own tech venture, the second is to join a starting tech venture as a partner.

The one thing about an MBA is you can always fall back on Consulting, but like I said go in it with a specific direction in mind and out with knowledge about a specific vertical. Consulting allows for alot more freedom than most think. You set your own hours and pick who you work with. Look at the big guys like Deloitte, Accenture, KPMG, and Ernst and Young.

Online = No. Part time definitely. Be in class. While the letters MBA are great you will really make relationships in class. Everyone will be very experienced and very driven. In my program we have several VPs of big companies who are in the exec program to go to EVP. Everyone in class will take every second seriously because it means dollars to them.

Also, contrary to undergraduate and most graduate, the more expensive schools are indeed the better schools. Kellogg and Booth, both here in Chicago, are six figures easy for the whole program. But their students are Fortune 100-500.

WOW! Thanks for that. That’s an awesome post, and helps me a lot… I am staying away from Entrepreneurship, because while it’s a strong interest of mine, I don’t know what the likelihood of me starting a business really is….. I’m hoping to get into Georgia Tech right now. As a resident it should cost around 50k in tuition alone….. Might be looking at Finance. What are the consulting companies looking for in concentrations?

My current situation is that I have about 4 years Finance experience (worked on the derivatives trading floor in New York for about 4 years, then went into sales for about another 5 years) Currently in a mid-level sales position at a small internet company… I’m considering getting back into Wall Street, but am afraid my lack of any recent experience will hamper me (plus most new hires are the young guns) However, I still have a lot of connections from when I worked on the floor and through friends etc….

[deznice]

So what'd y'all use to study for the GMAT

[BrianAlt]

I took it in 1989, so I'm sure it's different now.

I just kept on doing practice tests in a book. I found the book to be about twice as hard as the actual test.

When walking out of the test some random woman said to me, "wow, that was hard!" I just said, "yeah." I couldn't believe how easy it was.

I was in the 93% in math and a 98% in english! Couldn't believe the english score, but I guess it was due to so many ESL people taking the test. (Or I'm being nice?)

Pretty sure the format of the test has changed since then.

[gumby013]

I don't have an MBA, but I am doing pretty well working my way up the corporate ladder. I have a BS in Chemistry (Polymers and Coatings) and a BA in Market Analysis. Never used the chem degree. I am currently the head analyst for a private distribution company. The main project I am working on now is to design and implement a new replenishment model for an account that we will ship around $50M cost dollars of product to this year.

You'd be surprised how many top executives don't have an MBA. A lot of them seem to have engineering ones though.

[lizsquiz]

I've been thinking about an MBA too, but more for myself and my future marketability than for anything too immediate.

I think the better angle to look at things from, instead of taking the stance of "an MBA is always the best course of action" is to try to determine where you want to be. And what you should do to get there. It isn't always an MBA. In fact, these days doing an MBA for the sake of it can be taken as a cop-out almost, as the effort of a person with no specific aspiration but who wants to make a shitload of money.

MBA is a Masters of Business Administration. It's great it you want to be a super top level manager tomorrow.

My advice is to do your masters in your chosen field. (e.g.Masters of Marketing, Accounting, etc). This gives you instant cred in the field you want to advance in, Plus in most cases you can use the credits of that master towards an MBA if you decide you need one down the track.

[manny21]

i can be honest and say that an MBA really isnt needed if you want to get into upper level management...I graduated from the Haas school of business @The University of California, Berkeley...its a top 5 school and currently i work for one of the largest companies in the world (GE) a lot of the people in upper management at GE honestly just worked their way up...maybe i am saying you dont need one because i work for a company that nurtures its employees by putting them through management training...i am fortunate to be be in said program...most large companies have these types of program so if you are working for a company that does do everything you can to get into the program...what i learned in grad school is in no way used the business world...the only time i would suggest getting a grad degree in business is if you are going into accounting, finance, etc...if you are going into sales or marketing it will be nothing but real world experience...

also i am currently hiring people onto my team, and i so far have narrowed down my search to people with relevant experience...having an MBA doesnt really matter.

best of luck to you