Reply to: an MBA - is it worth it ?

Re: an MBA - is it worth it ?

I hate to say it but I do agree with TinTin -- many MBAs are professional liars and what would you expect from school that teaches them?

Ivy Leagues and LBS are good, however, weight costs very carefully -- I've decided for myself that paying £50k for Harvard is not justifiable, even if it accepted me, I am certain I'd succeed at getting into LBS, but again, costs outweight gains that I anticipate from MBA.

Bottom line: MBA is not a clear cut silver bullet answer to one's problems.

Re: an MBA - is it worth it ?

You can find comments like the above in the prospectuses of several universities that offer MBA courses. They are usually written by fresh graduates happy to have passed and thinking as a result they belong to some special and higher order. The brainwashing that goes on in some MBA courses are second only to the Masonic rituals. MBA people as a result think the world owes them a living, usually beyond normal riches.
Truth is with the exception of the Ivy League and a handful of European institutions (LBS, INSEAD, etc), getting it from a 2nd rate or even obscure University is more likely to harm your future (as well as your pocket) rather than enhance it.
In all my years in IT, I have never come across someone with an MBA (contractor or permie). Admittedly I have met some from other walks of life that have not impressed me at all.
Like they say, MBA = Means Bugger All.

Re: an MBA - is it worth it ?

There are so many comments and responses to your question of whether doing an MBA - is it worth it. The simple answer is YES!

MBA (or any qualification for that matter) is an ASSET and a lifetime investment. This is an ASSET that will be with you till you die (unlike many other ASSET Classes that you may loose - this ASSET will stay with you forever, once you acquire it). You will be able to benefit both in material terms and in acquiring additional knowledge from this ASSET.

No doubt you will gain more benefit doing at one Business School compared to the other.

This is a lifetime investment - take a long term view. Choose a Business School that you can afford and choose the area that you want to pursue your career in the long-term (even if it is IT, I will stick with it, as I take a long term view!!!).

I am an MBA (Monash Uni Australia) - my life certainly changed (for the better). I may not have the fame, status, position etc etc of another high-flying MBA. But I am certainly a more confident person with more career options now than what I had before my MBA.

Enjoy your course.

Re: an MBA - is it worth it ?

Business week has an article online about all the MBAs out of work or who have settled for lower paid jobs... Oh well, no doubt the buggers will benefit in any future upturn! There is one coming isn't there? Promise???

Re: an MBA - is it worth it ?

I recollect FT used to publish ranked list of UK MBA programs once a year -- cant mind exactly when but think its sometime in spring, could be autumn tho

Re: an MBA - is it worth it ?

Yep, Bradford! It has had an international reputation as being one of the best MBA courses since the 1970s.

And back when I was younger, the main university had a good reputation for technical vs literary modern language courses.

Re: an MBA - is it worth it ?

Don't forget that 95% of companies are NOT top 5% employers. There is place for crappy degrees as well, and for a pure techie who wants to change direction a crappy MBA can be God sent -- it all depends on your position.

Re: an MBA - is it worth it ?

Bradford?!

From what I've heard everyman and his dog has one. They're only worth it if from a decent business school (Cranfield, Bradford).

But there again surely a MBA from anywhere is better than not, shows you can apply yourself.

Re: It starts to make sense

Heinzbenes:
> "Stanford and Harward (USA) refused my app"
> ATw, is this why you dislike the US soo much?

No! I detest Harvard and Stanford for another reason, I have sworn to take GMAT again in next 2-3 and start applying every single year until I get success -- at the point I will thru it intheir face and put acceptance letter in my toilet.


I dislike America because the United States of America are no longer country of the free -- I detest slavery that took place in USSR, and now USA is betraying ideals of its founding fathers. USA has no God Given right to be liked by everythnig -- I have right not to agree with them.


Martin Underwood:
> go on, we want the actual figure... what was your score?
> (ahem, sorry to pry).

GMAT: 660 overall (90%),
AWA: 6.0 (99%) -- this is harder to get, I believe it plays much bigger role that most schools would like to admit
Quantitative: 92%, Verbal: 75%.

Lame excuse: I had cold at the time of taking -- at some point i could not look at screen

That was 4 years ago - Harvard at that time had avg score of 670, stanford was 710 and LBS was something like 640. Avg GMAT test scores are consistently growing, so 660 in my time is about 700 today. Its not like I give a fk about it, but I do plan to re-take it this year in order to break 700 -- as a matter of principle. Now I see that I was lucky not to get into it because I've got much better career path.

It was my poor English skills that let me down -- had I obtained 5-8 more points in Verbal I would have hit nice 720+

Kaplan is poor, there is better stuff on the web. Make sure you get official GMAT stuff -- they are most authentic.

GMAT Score means less for less than great schools -- best schools like Stanford like to be choosy and can afford to put value to non-standard values.

I'd tell more but I think I am boring you.

MBA

If you are lookingf or an MBA to purely boost your options in terms of work , forget it.If one the otherhand you want the experience of working with like minded people and the benefits that brings in terms of relationships and contacts , then it is wort considering.

MBA score

"My GMAT score was avg of top 10 MBA schools at the time of application"... go on, we want the actual figure... what was your score? (ahem, sorry to pry).

You're absolutely right; the GMAT itself is only one criterion in the application process. The frustrating thing (for the applicant) is that different schools place different emphasis on different parts of the GMAT (and indeed, on the non-scoring parts like the essay). As far as I can remember, it is not the difficulty of the GMAT questions themselves, but the sheer pressure of time: you are answering on average 1 question every minute and a half for 4 solid hours.

One organisation that has a good reputation for preparing applicants for the GMAT and the whole MBA application process is Kaplan. Kaplan offer GMAT preparation courses, and are extremely good at teaching you strategies for completing the GMAT exercises.

It starts to make sense

"Stanford and Harward (USA) refused my app"

ATw, is this why you dislike the US soo much?

Re: Tinpot

My GMAT score was avg of top 10 MBA schools at the time of application (a few years ago), however, dont think that good GMAT is everything for a top school -- your essays matter a LOT. The hardest part of GMAT for me was verbal part -- I was getting 70-75%, while math was relatively easy - 95-98%. Make sure you spend at least a month preparing for GMAT, better 2-3.

More info about GMAT is here: www.gmatclub.com

I am personally convinced that MBA is not worth jack @#%$ for me -- its not the route I am taking, hence I did not reapply.

Tinpot

Bumming around's all relative - right now I'd describe it as anything under 65hrs/wk.

Unfortunately I've already got a tinpot Master's, and don't want to damage the CV with another one. But while I was studying for it there was no shortage of guys from the Judge Institute who had enough spare time to train 2 hours every day with the college 1st VIII - which you'd be hard pushed to fit alongside proper work.

AtW, how did you find GMAT? It sounds a bit like a grown -up version of Common Entrance ("Anne is to Nick as Richard is to..?") - how deep does it go?
I think you're right about MBA salaries - I've seen a few jobs advertised for salaries '£40k - £150k' which sounds like a crazy range to negotiate within.