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To MBA or not to MBA?

Boo

TRIBE Member
Big Harv said:
What is the present value of your expected future income with an MBA subtracted by the present value of your expected future income without the MBA subtracted by tuition/expenses for an MBA subtracted by two years of foregoing income?

PERFECT!

If it isnt > 0 then get a nice car or some penis implants to over compensate :)

I didn't even know they accepted MBA candidates who weren't 25+ with 3-5 years business experience.

IMO you won't get enough out of the program if all you have is co-op business experience. They don't discuss filing and photocopying as far as I'm aware.
 
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zoo

TRIBE Member
i'm 25+ but don't have the 3-5 years of coffee making and photocopying experience (though i do have filing experience!)
 

djdeposit

TRIBE Member
remember, if you take the option of your employer financing your further studies, there will always be some kind of obligation to remain with that company for x amount of time.
 

123fakest

TRIBE Member
meh..

Mediocre, but arrogant.

Every time I meet someone with an MBA, it's the first thing out of their mouth.. "When I took my MBA...", "When I finished my MBA...". WTF, you have the same job as me..
 

Agent Smith

TRIBE Member
123fakest said:
meh..

Mediocre, but arrogant.

Every time I meet someone with an MBA, it's the first thing out of their mouth.. "When I took my MBA...", "When I finished my MBA...". WTF, you have the same job as me..

That's probably because they have an MBA from the University of Windsor.
 
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erikwh

TRIBE Member
Why, after getting a degree in APPLIED SCIENCE, would you want to go through the cash grab that is an MBA program? Why should you pay a small fortune to have some guy give you a powerpoint presentation... at least engineering tuition pays for all the lab equipment you destroy. Word from people in our shoes is that an MBA will make you bitter about have taken all those hard courses for (arguably) nothing.

Anyways, you will make lots of money as an engineer, and if you really wanted more, you could go into consulting. Do you not like engineering? (i think i remember you saying that was your program). If you like project management you could work your way into that through an entry-level engineering job.
 

djdeposit

TRIBE Member
get your MBA then go to teachers college
or get your PHD and teach engineering. Then you will be master of the universe
 
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zoo

TRIBE Member
i was thinking of an mba followed by med school and then law school, and then taking over the universe
 

littlejon

TRIBE Member
skeletor.jpg



skeletor says: skip the physiotherapy, you can always buy a lackey to take care of that.
 

RobInc [perma]

TRIBE Member
Two cents from a McMaster MBA ('02) Grad

zoo said:
I recently graduated and I have little work experience (a few summers of Eng co-op). Would you do it? I've been accepted to both Full Time and Part Time at Mac, but I don't know what to do. I've already taken the entire first year of the MBA during my undergrad in the form of undergrad Commerce courses, so at this point it would only be useful to me in terms of adding more letters to my name.

Yargh.

edit: (I'm not going to base my decision on a TRIBE poll obviously, but I'm hoping someone arouses an issue I hadn't though of. I've been debating this for months now.)

I didn't want to join in the fray earlier, but I did want to give another perspective--from a McMaster MBA alumnus. (MBA '02, full-time)

As you mentioned, you probably shouldn't base your decision on a Tribe poll, but there are stats on performance and a lot of detail about the program itself, having completed it.

Prior to doing my MBA I had about two years of experience (business). My undergrad was BScH in Biotechnology, but I never worked in the sciences. Before doing my MBA at Mac I was looking at very average $50k jobs. I'm not saying that money is at all the important factor in this decision, but if you do the math (as someone jokingly said, estimate the NPV of doing the MBA versus not), but the numbers speak for themselves.

You'll also be with a lot of people your age group at McMaster which makes life a little easier. A friend of mine who did his MBA at McGill found himself steeped in middle-aged people trying to relive their partying youths. Sure, there are brand new grads that enter the program as co-ops, but you still have to compete for your own co-op position. And if you don't elect the co-op option (if you go full-time and have enough experience already), there are four months in the summers to work, and I'll tell you when I was working as a financial analyst in summer 2001, I was making more as an MBA student than I was previously. After graduating, I was getting offers and competing for jobs that paid nearly double what I was getting before doing my MBA.

Sure there are people who do their MBA and still end up settling for mediocre positions that any B.Comm or HBA or BBA can do, but even with limited experience you can competently compete for positions reserved for MBAs, like investment banking associate, consulting (internal and external), and jobs that are more challenging and rewarding.

Another thing I noticed when I went McMaster was that a tremendous number of foreign students from China were in the program. I don't know what it's like now, and it's not a bad thing, but just an observation. There is something to be said, though, about going through it with colleagues around your age group.

I'm also not sure about the tuition right now; when I started back in 2000, it was probably half what it is now. But the school is accredited by the AACSB and I urge you to look at the stats on graduates they track after graduation.

"DeGroote MBA graduates enjoy the highest return on investment compared to all other Canadian MBA programs. This is the key finding of a Canadian Business magazine study. Read about the 131% ROI."

I will also say that my way of approaching problems in the workplace and at home has changed drastically; and having been a science major in undergrad, my reports and projects have become highly impressive yet professional, and definitely more thorough. Don't fool yourself--whatever you hear about McMaster's MBA from someone who hasn't actually done their MBA there, or whatever the cynics have to say, the stats on where their grads go, how much they make, employment rates, etc. are a good indicator.

Don't discount the program too much either. When I did it (I think they've since changed), our terms were 6 weeks in length, but we still covered the whole texts in all five courses. Even if they've lengthened the terms to a normal 12-week term, the pace is still fast and furious and you'd really appreciate the time doing it full-time or co-op.

(ps. what's more is that I've posted pretty much all the cases and projects on my web site)

Look at the list of prominent McMaster MBA grads, too.

Have you taken your GMAT yet? I taught the GMAT prep course for Kaplan Test Prep from the time I finished first year until recently and can give you some pointers (although I did admit to the guy that hired me that I did no GMAT prep, they still took me to teach the course since I scored 700 overall and a perfect 6.0 on the AWA)
 

zoo

TRIBE Member
Hey Robin. I did read your PM, but I hadn't responded because I haven't had enough time to write a long reply.

I have another 2 weeks to decide about my immediate future. Not sure if you read my original post, but I have been accepted to both full-time and part-time programs at McMaster.

My largest issue with doing the MBA is that I'd have to re-take 10 courses (the entire first year) when I've already completed it at the undergraduate level (Engineering & Management). I've spoken to the administrators of the MBA program and they've informed me that if I re-take two courses at the undergrad level over the next year, I will have a better chance of being accepted to the accelerated program, which is what I wanted to do in the first place.

I still haven't decided 100%, but my most likely path will be to try to qualify for the accelerated program by repeating the undergrad courses I received Ds in, and re-applying for the 2007/2008 semester as a part-time student. I don't have a burning desire to get my MBA right away without any work experience, nor do I want to lose my nights for the next 4-5 years and have to pay an extra $12k+ when I've already done the work over the past 6 years.

Edit: Also I'm not sure if you know who I am, my name's Phil, you've actually been over to my apartment once when Brad Spacinsky was living at my place! This was sometime in 2004 or 2005; I think I was interrogating you about the MBA program then too, heh. :)
 
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