Thinking about getting an MBA...any advice?

[deathpunk dan]

So, I am thinking I should pursue an MBA (part-time). I'm not sure if it's the right move and am looking for some feedback. Obviously there are many highly educated, successful pelicanites lurking and posting here, and I appreciate any feedback you might have.

About me:
I am the marketing manager for a small to mid-sized (small in the grand scheme of things, sales ~$20m projected for this year) catalog/web marine supplies business here in RI.

I have significant experience and a proven track record with most aspects of multi-channel marketing...but particularly search engine optimization, paid search campaign management, email marketing, affiliate marketing, and data analysis. At this point, I report to the president of the company and have a few people under me, but I've been here for 6 yrs as of next week and sort of feel like working for a small, family/privately owned business is not going to get me where I want to be.

I have made it very clear I am willing to take a modest pay increase in exchange for a piece of the net and they've done a carrot on a stick dance for several years on this matter. I have no reason to believe they will ever come through.

Good jobs- any jobs- are hard to find in RI so I am grateful for the opportunity I have every day, but you know it goes...you always want more. I'll be 33 next month and I feel like I should push myself harder. Hence the interest in getting an MBA. I am kinda hoping that my work experience and 3.9 undergrad GPA (at a state school of course) a decade ago will help me maybe expedite things.

My two options are basically Bryant University (formerly Bryant College...which is where my dad and 2 of his brothers went for their MBAs) and the University of RI.

URI's main campus is only a few miles away from our house and they also offer evening MBA courses in Providence, which is close to work for me. Bryant is farther away, but my perception is that it is considered a better school. Their 2 yr MBA program would cost ~$37k, vs ~$22k for the URI one.

Unfortunately, there would be no tuition assistance from my employer. I'd be paying for this on my own. Is it worth it to get an MBA from URI? Or will the Bryant one truly have more 'cache'? URI would be infinitely more convenient as I could take spring, summer, and fall courses. Then of course, I'd have to figure out the whole concentration thing.

Marketing or general? Does it matter? Will I learn practical, actionable 'stuff'? I'm not great @ math and had to take Stats 2x in college. C- first time but an A the second. A bit worried about math course requirements.

Any comments, feedback, advice is appreciated.

Thanks

Dan

[M.D. Holloway]

Dan,
MBAs are pretty common these days - IMO you need something to set your self apart. Sounds like your into the marketing gig which is cool. URI is a good school. I took some grad courses there when I was working on my Bach at Salve Regina. Salve would be a cool place but it is a bit pricey. There is always Roger Williams across Mt Hope Bay. That might be pricey as well.

Don't freak over the math. Grad school for business has people taken course that haven't seen a class room in 20 years. Profs know that.

If I was giving advice to one of my kiddos and they really wanted to go to grad school to make them more market friendly I would say to get a MS or an MA in a course of study that were interested in that agumented business. If you like to write, get an english degree, if you like to crunch numbers get a math degree, if you like the humanities get a philosophy degree or if you like the sciences get a biology degree - I think you get my drift.

Business is learned in the trenches, MBA programs are for making connections and those only happen at a top tier school.

[Rich76_911s]

Dan,

I'm in a very similar position. I'm currently considering an evening MBA program at Villanova. So I am interested in hearing what folks have to say as well.

Rich

[Seahawk]

Have you thought about the MIT Executive MBA Program?

My business partner attends and is very pleased. He is in RI as well.

[Groesbeck Hurricane]

Why an MBA? They are very "common" or so I am told. Would a more specialized degree help you out more or do you need a general program?

I'm working on mine through Webster University out of St. Louis. It is on-line, five courses a year, one course at a time on my programme. You could always take more courses. The courses are set-up for business people and you do not have set class times for most classes. You DO have deadlines and you had better meet them!

Most of the teachers have been wonderful! I even had a Reagan economics advisor as one of my professors! Good level of professionals!

[Steve Viegas]

Dan,

I think it depends on what you are trying to achieve. If you are looking for an MBA for personal growth (not professional) then by all means, you should pursue it.

If you are looking for professional growth, I am not sure it is going to help much unless you go to a top business school. My reasoning is this:
1. The experience you are gaining now, at your job will likely look better than an MBA to a future employer.
2. A second tier school is as good a place for an education as a first tier school as both depend on you, an employer will likely not see it that way.
3. A second tier school will not give you the contacts that you can make at a top school. I personally believe that the contacts made at a top school are the main reason for attending that school. If you do not have the personality to seek out these relationships and use them (and I am not saying you do not, I do not know if you do or don't), then I would say that a top tier school is not worth it either.
4. I believe an MBA will allow you to start "at the middle" as opposed to the beginning in you career, but if you are already "at the middle" I am not sure it will help.

Now, this advice is coming from someone who went to a second tier school for their undergraduate degree and I have not pursued an MBA so take it for what you will.

Steve

[Hugh R]

I have an MBA from Cal State Univ-Northridge. I don't really use it at all. I agree with what Lube said, you make the connections at places like Harvard or Yale. Seahawk's suggestion of MIT is a good one, at least its a named school. Bryant, or URI, no one will care/be impressed.

[cbush]

I think people under-estimate the importance of continuing education. If you are primarly getting it to add to your resume, then yes, going to a top school is key. If you want to improve yourself and get a more rounded education in business, then URI sounds like a good option. Do it for yourself. It will help keep your sharp, likely improve your performance (value) to your current employer, and make you more valuable to a future employer.

[1990C4S]

I would look for a job in company that would cover the costs of your MBA.

[VincentVega]

I went through the same thing and ended up with an MS in MIS. Not sure it's really helped me but it was a great experience and I made some good contacts. Short Worton, MIT... I dont think it matters where you go.

I would equally consider taking on more at work or finding new work to advance your career. Maybe a new job in a bigger company would get you moving? Depends what you are looking for.

[jluetjen]

I went back to school for my MBA and I think that it was valuable. In no particular order here are my thoughts...

1) It gets your ticket punched. If you're up against someone for a job, and that someone has an MBA, if you've got one two that no longer becomes an issue. So no, it won't set you apart, but yes the lack of an MBA could set you apart.

2) If you're planning on making a career change, this is the way to lay the foundation. The first half of my career was in operations, but I wanted to move into sales and marketing. So when I took my MBA I focused in those areas, and specifically the subjects which I was weak in.

3) You've done the right thing by working before getting your MBA. Lots of people get their MBA immediately after getting their BS/BA. I'm not sure if that is particularly useful. It might be helpful if as a recent BS/BA grad you hope to work for a major consulting firm or Wall Street firm, and you're going to a top tier MBA school. But it doesn't sound like this is the career path that you are on. Instead you've got a lot of real-world experience under you belt and I agree that it's helpful to go back and refresh.

3A) I got my BS/BA and my MBA from the same school (BU), but I worked for 10 years in between the two. I was surprised how different my MBA experience was from my BS/BA experience.

- Based on my real world experience I got the basic business points right off the bat. So while some of the students who were coming from other non-management disciplines were trying to get their minds around some of the basics, I was able to pretty much jump straight to the applications, as well as recognize academic ivory towers on the few occasions when they appeared.

- Some of the classes that I struggled through for my BS/BA suddenly "clicked" when I took my MBA. In my undergrad accounting classes I remember struggling to get the credits and debits to equal each other. After seeing accounting at work at my employer, I actually enjoyed accounting in my MBA program and I really got to see how the numbers roll up from a cost and management perspective. I was clueless about Finance as an undergrad, but when I took it in the MBA program I really got a strong understanding of how individual investments decisions roll up into markets, develop into risk management strategies and "exotic" investments. So my MBA really helped to fill in what had previously been weak areas of mine.

4) Finally, you can take "advanced" classes about areas of interest or personal growth. For me, I had always been unsure about negotiation. Not just intellectually, but personally -- I didn't feel comfortable negotiating. As part of my MBA program I was able to take a specific class in negotiation which gave me a great foundation of the process of negotiation. Then I was able to go a step beyond and I took some classes in Statistics and Competitive Decision Making (aka: Gaming) with a noted professor which opened my eyes to a whole new way to look at problems and competitive situations. Compound this with a new-found understanding of Financial Investments and Risk Management, and now I am very comfortable with the strategic aspects of business situations, both from my perspective looking out, as well as from my customers perspectives.

- Bonus: In my case my reinvigorated understanding of statistics has come in helpful when trying to argue global warming on the PARF forum!

So those are the benefits which I've found from getting my MBA. I felt that it was a great experience. Did I walk out with a degree and immediate get a new job? No. But I was able to move into inside sales while I was still taking my MBA, and now have a sales job at another company (11 years on) which I really enjoy. So it certainly helped get me to where I wanted to be.

[VaSteve]

Business is learned in the trenches, MBA programs are for making connections and those only happen at a top tier school.

Absolute BS.

I have an MBA from whatever tier virginia tech is. I use the knowledge and problem solving strategies all the time. You can get "connections" anywhere: rotary, chamber of commerce, trade shows, etc. taking a problem and dissecting it from all sides in a group setting...much like the real work world...is especially valuable.

True, I don't work in the wood paneled inner sanctum of a fortune 500 firm, but that's now what I wanted to do.

[cantdrv55]

I'm in a traditional MBA program right now as well. Unfortunately, due to lots of business travel, I will have to switch to an Exec MBA or MBA online. There are many fine online programs that are AACSB accredited. Check out this website to help you choose Online Colleges & Universities - Online Degrees - Online College Courses. Also check out AACSB's website as a crosscheck on accreditation (AACSB International-The Association to Advance Collegiate Schools of Business).

I am looking into a few online programs and have not made up my mind yet. I am fortunate that my employer will subsidize my education to the tune of $8k annually. However, I have 18 credit hours to transfer but most will only take 9 units max. The programs that have piqued my interest are Northeastern, Quinnipiac, University of Scranton, Lehigh and Drexel. My reasons are purely financial; I want to receive a quality education with the least out-of-pocket expense.

I don't need the MBA for career advancement. I found that out last week when I tried to resign my current sales position for another sales gig. My manager wouldn't accept my resignation and have instead opened doors for me for advancement and recognition. The MBA is for personal fulfillment - plus I'm a glutton for punishment.

[cantdrv55]

If you are going to take the GMAT, I advice you to prep hard. It had been 26 years since my last math class. Had I not used the Princeton Review guide books, I don't think I could've done as well.