Considering an MBA....

[MakiSupaStar]

http://news.yahoo.com/s/bw/20110107/...s2011015236741

Weigh it out first.

[Ziltoid]

Bah, I'm even further of breaking even in my program then those in mba's

[SoonerMatt]

That's rather depressing news. I was looking at going into an MBA after I was done with my MS and worked for a while, but now it seems like waiting a bit longer would be a good idea....

[Linas]

I just graduated undergrad and was also considering a MBA. I wasn't going to jump in right away, but this is not good news.

[i_got_a_mohawk]

I'm still considering taking one on a few years down the line once I've completed my PhD.

Tho I think MBAs are a fair whack cheaper to study over here than in the US.

[Selta]

It's not just MBA's... the whole of college grads often can/do. CNBC just ran a special about the problem called "Price of Admission: America's College Debt Crisis".
A number of "experts" claim that this "crisis" can/will be worse than the housing collapse once students in general start defaulting on their loans.
Here's a link to the site for it:
http://www.cnbc.com/id/39911910/

There's probably a torrent or something out there of the entire show. It was really interesting to watch, especially since my partner is done with her Master's program and is facing this situation head-on. I did some independent research on it and it really seems like a huge, huge deal. Students are borrowing at a rate that eclipses everything else, and parent's often co-sign away at it. The sheer amount of borrowing going on is ludicrous. Couple this with the current unemployment and difficulty of finding a suitable job within their field, today's college grads are looking at a tough time.

[Ziltoid]

Originally Posted by i_got_a_mohawk

Tho I think MBAs are a fair whack cheaper to study over here than in the US.

Pretty sure that's the case in Canada to.

edit: Ray, I didn't find the full show, sadly.

[LiquidMidnight]

I'm going to be taking an MBA course this spring as an elective for my Ph.D. I'm looking forward to it.

[MonetBass]

Sorry, but this makes me laugh. 20 years ago I started my MBA, completed six hours of it, then dropped out. Why? Because I didn't feel it was worth it, even back then. Never mind the fact that I just wasn't into the course materials. So.... I switched over and got a music degree instead. Ha! (Nope, that one still hasn't paid for itself.)

If my current company requires that I get an MBA to obtain a particular job, which they would pay for, then I would go back and finish. Otherwise, forget it.

[i_got_a_mohawk]

Another thing I will add, people should stop looking at higher education as just being about the money, it is far from it. However, it does allow you to enter jobs which you wouldn't be able to get into without the education!

Edit

To clear up any confusion about what I'm getting at:

Higher education is typically viewed as a way of earning larger amounts of money, many people do not go into higher education for a higher paying job, they go into it to get into a job within a field they enjoy.

[MatticusMania]

Originally Posted by i_got_a_mohawk

Another thing I will add, people should stop looking at higher education as just being about the money, it is far from it. However, it does allow you to enter jobs which you wouldn't be able to get into without the education!

If its not about the money then what is it about? Ego? We have free access to information readily available. Anyone who wants to learn a particular subject can do so with ease and without the expense.

[LiquidMidnight]

Originally Posted by i_got_a_mohawk

Another thing I will add, people should stop looking at higher education as just being about the money, it is far from it. However, it does allow you to enter jobs which you wouldn't be able to get into without the education!

This.

[Ziltoid]

In my case I will get a master and maybe (probably) a phd for the opportunity of working in field I love which would not be possible without it. (I'm currently doing my Ba. in sociology,philosophy and political science, multidisciplinary or triple minor if you prefer)

[jmattbassplaya]

I'm still planning on getting my MBA because most high paying jobs require it. Now, that doesn't mean I'll necessarily snag one of those jobs, but I'd rather have it in case the opportunity were to ever present itself.

In the mean time, I'm planning on getting my undergrad and from there I'll try to get a job with a company that will help pay for graduate school.

[i_got_a_mohawk]

Originally Posted by MatticusMania

If its not about the money then what is it about? Ego? We have free access to information readily available. Anyone who wants to learn a particular subject can do so with ease and without the expense.

As much as I'll complain about it at times, I enjoy working in the sciences, and right now, doing research. Without a PhD I won't be able to do research (BSc and MSc level 'research' jobs generally have you working as an assistant as opposed to getting to do hands on research).

We have free access to some information, not all information is free.

You can learn about a subject in your spare time all you want, but nobody would hire you if you haven't achieved a formal benchmark (qualification). Having knowledge of a subject alone doesn't allow you to work in that field.

[Pilgrim]

That article doesn't tell the whole story.

$70,000 for a stinkin' MBA???????????? Jeezuz, they must think all MBA students are made of money. Our students don't pay that much..we have one of the best distance MBA programs in the country and you can finish it for about $20K.

Originally Posted by jmattbassplaya

I still planning on getting my MBA because most high paying jobs require it. Now, that doesn't mean I'll necessarily snag one of those jobs, but I'd rather have it in case the opportunity were to ever present itself.

In the mean time, I'm planning on getting my undergrad and from there I'll try to get a job with a company that will help pay for graduate school.

There's a guy who's thinking straight and smart!!

Earn your MBA from a rationally priced public university, and do it a couple of classes at a time by distance education while you hold down a job. You finish with no debt, and the payback term is minimized because you didn't spend $50,000 more than you needed to. If you have an employer of any size, they may even have a tuition support program so you won't have to pay much of the bill.

The bottom line is - if you're 30 years old and considering an MBA, do you want to be 35 WITH one or WITHOUT one??

Who cares whether the payback period is 5 years or 15 years....you plan on living more than 15 years anyway, don't you?

[KeithBMI]

I'm going to graduate next year with a BA in mechanical engineering. I was thinking about working on a business degree while I held down an engineering job.

[MatticusMania]

Originally Posted by i_got_a_mohawk

As much as I'll complain about it at times, I enjoy working in the sciences, and right now, doing research. Without a PhD I won't be able to do research (BSc and MSc level 'research' jobs generally have you working as an assistant as opposed to getting to do hands on research).

We have free access to some information, not all information is free.

You can learn about a subject in your spare time all you want, but nobody would hire you if you haven't achieved a formal benchmark (qualification). Having knowledge of a subject alone doesn't allow you to work in that field.

Then it is about money. Or at least about being able to make money doing something that you want to do.

All that research that you love to do can still be done. I understand there may be some materials not everyone has acess to, but the purpose of being knowledgable is to be able to work around obstacles in life.

I feel the pursuit of higher education is a noble one (pursuing a degree or not) but lets not kid ourselves that financial gain is anything other than the underlying motive.

If you could hold a Masters degree, though it served no purpose whatsoever, and still had the same cost to obtain (lets say $20K as per Pilgrim's post) would you still pursue it? Honestly?

[i_got_a_mohawk]

Originally Posted by MatticusMania

Then it is about money. Or at least about being able to make money doing something that you want to do.

All that research that you love to do can still be done. I understand there may be some materials not everyone has acess to, but the purpose of being knowledgable is to be able to work around obstacles in life.

I feel the pursuit of higher education is a noble one (pursuing a degree or not) but lets not kid ourselves that financial gain is anything other than the underlying motive.

If you could hold a Masters degree, though it served no purpose whatsoever, and still had the same cost to obtain (lets say $20K as per Pilgrim's post) would you still pursue it? Honestly?

Ok, I see where you're coming from, you were taking my post too literally. When I was saying money, I was meaning big money as opposed to just earning a living!

I wouldn't pursue a Masters that cost $20k simply because I couldn't afford it. Heck, I wouldn't have been able to afford my BSc if it came down to it. I would have just been an electrician or plumber (and making about the same amount of money I'd be making with a PhD!). In some senses the masters I took on won't give me any real monetary gain in itself, what it does do is give me a little something extra on the CV when it comes to job applications.

[also, to respond more specifically to your comment about doing research as a hobby as opposed to a career, the research I'm doing right now uses a laser that cost £250,000, I need access to various cell types, some of which require a license and access to some pretty toxic chemicals, cadmium, ethydium bromide. Much of that I wouldn't have access to outside of a career in science, be it legally or financially]

[Selta]

Originally Posted by i_got_a_mohawk

Another thing I will add, people should stop looking at higher education as just being about the money, it is far from it. However, it does allow you to enter jobs which you wouldn't be able to get into without the education!

Edit

To clear up any confusion about what I'm getting at:

Higher education is typically viewed as a way of earning larger amounts of money, many people do not go into higher education for a higher paying job, they go into it to get into a job within a field they enjoy.

But with constantly rising education costs, the job you get with versus the job you'd get without it had better pay substantially better to be able to afford those student loans.