Is having a MBA still worth it these days?

2016-02-01T16:51:23-05:00

Is having a MBA still worth it these days? I mean a degree is better than no degree with today's economy and all but I'm asking just for general knowledge. (Yea I have some credits in this field already)

Response by MSG Wally Carmichael made Feb 1 at 2016 5:03 PM

2016-02-01T17:03:28-05:00

Having an MBA is worth it and requires, in most cases, if you plan on going to work on someone else's business and dreams. Some of the knowledge gained from an MBA program may assist you in your own business. However there are many much better resources that will help you manage and build your own business. Seeking and taking advantage of other resources will save you time and a lot of money, understanding you may be using VA benefits.

I will say, working in your chosen industry is a great education in itself. But for that you will need the degree.

Response by SPC David S. made Feb 1 at 2016 5:42 PM

2016-02-01T17:42:57-05:00

All depends on your career path - for me it was. If you looking to touch the books of a business it seems like a requirement. From a financially perspective it amounted to a 10% raise. So the break even is there just may take some time.

If you still have some 'free' military money to spend on education and you can make a time commitment I say go for it.

Response by COL Private RallyPoint Member made Feb 1 at 2016 5:43 PM

2016-02-01T17:43:43-05:00

Agree with what everyone here has said so far, but I'd ask yourself..."Do I really want to be a 'master business administrator'?" I was part way through my MBA and just went through accounting. While I aced the course, I looked at what I was studying and why and realized what I really wanted to learn about was leadership and management...not accounting, probability and mathematics. Having an MBA is a good thing, but it wasn't for me. So...I went into management and organizational design. This kind of degree is mostly focused on consulting businesses on their organizations and improving their bottom line through change. I found this much more to my liking than knowing how the accounting systems work in business. Besides, like some have said already, businesses are looking for more than an MBA. Not to mention that if you don't have an MBA from a reputable college, it's pretty much worthless in the larger business world without experience to back it up.

Response by LTC Yinon Weiss made Feb 1 at 2016 5:53 PM

2016-02-01T17:53:33-05:00

Part of the benefit of an MBA is the network you develop while in the program. So if you're able to go to a top business school, that has the added benefit of both the knowledge you gain as well as the network you build. That said, not everyone gets to go to a top business school. Just the knowledge gain from an MBA can be a huge advantage in business. As some others have said though, it's definitely not a must have... most business leaders actually don't have an MBA.

Response by Capt Richard I P. made Feb 1 at 2016 6:07 PM

2016-02-01T18:07:50-05:00

PO2 Private RallyPoint Member You may enjoy this post: https://www.rallypoint.com/topics/business/answers/is-it-worth-it-to-go-for-my-mba-did-anyone-do-it-and-find-out-they-didn-t-really-need-it

Is it worth it to go for my MBA? Did anyone do it and find out they didn't really need it? |...

So I'm almost done with my B.S. In Business Management. I'm trying to decide if I should start looking a job now, or if I should be planning to go for my MBA when I'm finished. I have enough of my GI Bill left that it should cover it, but is it worth it to wait another couple of years to start looking for employment. What does everyone think? I'm very interested in your opinion.

Response by CAPT Kevin B. made Feb 1 at 2016 6:16 PM

2016-02-01T18:16:57-05:00

OK, I'll provide some of the cons. in certain fields, MBAs are a dime a dozen. Some look at it as being able to skate the long program so they'll interview you to see if you're worthwhile, but not because of your degree. It gets used as a prefilter many times. Some outfits look at MBAs as a continuation of a person who still can't figure out what they want to be when they grow up.

However, my take is having one is better than not having one in most endeavors. However, don't overlook the power of a technical masters in certain marketplaces. Big, big bucks are earned by multiple degrees, i.e. a patent lawyer who's also a registered engineer. He makes more money on the witness stand than the rest of his practice. This just shows everything is somewhere on the bell curve. MBAs are pretty much in the fat part of it so you'll need more to differentiate yourself to many prospective employers.

Response by LTC Private RallyPoint Member made Feb 1 at 2016 6:18 PM

2016-02-01T18:18:41-05:00

Absolutely! It will be a good qualification to have if you leave the military or stay in to progress. I'm working on mine now.

Response by MSgt James Mullis made Feb 1 at 2016 6:19 PM

2016-02-01T18:19:40-05:00

Yes, If you can do it without accumulating huge student loans.

Response by Maj Densel Galloway made Feb 1 at 2016 7:07 PM

2016-02-01T19:07:35-05:00

Having an MBA is worth having, and will continue to be very useful for a long time to come. However, having an MBA is not a silver bullet. You need a reason and plan why you are seeking it and how you plan to use it.

If you are convinced that an MBA is right for you go for it. Stick to your plan and make it work for you. I use my MBA to assist me to operate, manage and improve my business. As a consultant it enabled me to do the same for my clients as well. Leverage the information you learn and develop practical ways to use it.

Response by MAJ Private RallyPoint Member made Feb 1 at 2016 7:20 PM

2016-02-01T19:20:40-05:00

I think the most value out of an MBA is from a non-business field. Once you get up in management technical aspects aren't near as important as the financial aspects, MBA will help an engineer rationalize the tradeoff between different approaches, and enable them to make better decisions.

If you are a business undergraduate degree an MBA doesn't give you much more than what experience would, focus on a specialty instead. I have an accounting/economics undergrad, experience in engineering and project management and am getting a Masters of Acquisitions Management to round out my resume.

Response by Daniel Pothier made Feb 1 at 2016 10:14 PM

2016-02-01T22:14:39-05:00

Yes MBA from an accredited college or university is worth it. Un-accredited fly by night schools and short cuts like PMP should be avoided.

Response by SFC David Pope, MBA made Feb 2 at 2016 6:12 AM

2016-02-02T06:12:47-05:00

Out of all the degrees you could obtain, an MBA is by far the widest reaching degrees out there. I have an MBA in Accounting. There are many concentrations for MBA besides general marketing. Many of the people in my class already had a masters degree in other areas, but chose to get an MBA so they could get promoted in their various industries. Since graduation I have been offered positions that pay in the low to mid 6 figures. You just need to know where to look.

Response by SFC David Pope, MBA made Feb 2 at 2016 6:38 AM

2016-02-02T06:38:36-05:00

As I had mentioned in my previous post MBA's have multiple concentrations. After graduating with an MBA in accounting I was eligible to take the state CPA exam. They also have concentrations in finance, management, behavioral management, leadership, entrepreneurship, human resource and several more areas. As mentioned by others, MBA's are a dime a dozen, but that is where the concentrations come into play. I will be starting my DBA in Organizatioal behavior and leadership soon. I already have job offers from several firms after I complete my course work, while I am writing my dissertation. I have also had a retired general offer me a high profile position with his company. I have used my degree to help me with my own company. I have increased my own income by 15% because of things I learned that helped me streamline my own business. An MBA is more than administration, it is a tool for running a business if you use what you learn. You need to go online and research all of your options thoroughly before deciding. I spent two years researching degree programs before making a decision, and I'm glad I did.

Response by SSG Brian Kresge made Feb 2 at 2016 7:49 AM

2016-02-02T07:49:33-05:00

I finished in 2006.

The answer depends on a lot of things: how much debt will you rack up pursuing it, what field are you in, will you do some kind of specialized MBA program, etc., etc. It definitely yields benefits in service, but in the civilian workforce, saturated with MBAs, it can be hit or miss. And yeah, there are some places where for me, having a Capella University MBA is a lot less appealing than someone with an MBA from Drexel or even a local private college that has a decent reputation.

In the end, where it really was helpful in making the transition from senior level programming to IT management, and possibly some day CIO roles, was in stacking relevant bonafides. Combined with Six Sigma certifications, a strong military resume, it does help build a stand out resume.

On a more esoteric level, one of the least available skills is the ability to grasp "big picture" in any job. The MBA is not a silver bullet for this, but if you truly absorb it, you can start thinking in the kind of goal-oriented, key performance indicator, and balance that against leadership soft skills to really move the needle in a civilian job.

Good luck!

Response by SSG Audwin Scott made Feb 2 at 2016 8:41 AM

2016-02-02T08:41:47-05:00

Yes still worth it, especially if you can get it for free.

Response by Capt Michael Appleby made Feb 2 at 2016 9:13 AM

2016-02-02T09:13:53-05:00

In general yes, an MBA is still a strong degree but it depends on the school you attend and your career goals. Any top ranked program will open doors to you that would not be available without the degree. In addition you will spend two years building friendships with a group of highly intelligent and motivated peers. I was blown away by the backgrounds of some of my classmates when I got my MBA and I'm sure that some of those connections will help my career in the future.
On the flip side, cost matters. Unfortunately these days an MBA from Eastern Indiana Tech Online is not significantly cheaper than the tuition at a reputable program. If you are going to spend the time and money on an MBA make sure you research both the costs and benefits. I took 2 years out of the workforce and took on 5 figures worth of debt for my MBA but I got a job I never would have been able to attain without it and my income went up ~4x from my military pay. The return on that investment happens very quickly. On the other hand, if I paid the same amount and only increased my salary by $15,000-$20,000 it would have a terrible IRR.
So really without knowing what school you would plan to attend or what your career goals are it is impossible to give a specific answer. Generally a good MBA will be helpful and a mediocre MBA probably isn't worth the investment in time and money.

Response by SFC Joseph Dunphy made Feb 2 at 2016 9:14 AM

2016-02-02T09:14:34-05:00

Of course. Even if it only helps in your investments, you come out ahead of all the grasshoppers that spend every penny of their paycheck. In the military, it counts heavily toward promotion, especially in the upper ranks, and if you're an officer, there's lots of pressure for having a Ph.D. An MBA, for the most part, gives you knowledge of differential calculus, and if you want to be on speaking terms with the engineers (who build your more sophisticated defensive positions), then you at least have the background to start tackling integral calculus.

Response by CMSgt Lloyd French made Feb 2 at 2016 9:19 AM

2016-02-02T09:19:13-05:00

A "Master's Degree" is the new "Bachelor's Degree" in the employment world. Unless you graduate from an Ivy League school with your 4-year degree, don't plan on a high-paying job right out of college. A Bachelor's Degree with 20 or 30 years of experience is another matter. Typically, two years of job experience equals about one year of education, but the degree shows achievement above and beyond your every-day good job performance. Get the Master's Degree--and get it in something that interests you AND potential employers. The return on investment from formal education is at least 20% per year of work following your commencement ceremony.

Response by SSgt Dale Keller made Feb 2 at 2016 9:49 AM

2016-02-02T09:49:08-05:00

A lot of it also depends on what or who you get it from. I have had employees with an MBA from credintialed, but less than appreciated universities and the knowledge wasn't always there (let alone no real experience). I typically recommend that you get your BA/BS get into the job market and then look at your executive MBA or other exec programs after you put some skin in the game. Many universities like the UCs and private St Mary's, etc., won't let you enroll without 5-10 years in your fild as well. Just my two cents. Good luck.

Response by CPT Private RallyPoint Member made Feb 2 at 2016 9:53 AM

2016-02-02T09:53:37-05:00

I think that these days we need to obtain a degree beyond the bachelor's level in order to be competitive and an MBA is still a good investment. I got my MBA six years ago and to this day I have not had an issue with obtaining a job or being recruited for one. I do need to add a caveat into the mix and that is, the degree is only one part of the puzzle these days. You have to have experience as well and don't forget to throw in a few certifications like your Lean Six Sigma, Project Management, and ITIL to name a few.

Response by Margaret Reed made Feb 2 at 2016 10:15 AM

2016-02-02T10:15:46-05:00

Yes, while a master's degree is a degree that sets you apart from the rest of the crowd, as only 10% of the nation has one, the MBA is still very prestigious. Keep in mind that it is designed for leadership and or entrepreneurship, while other degrees are designed for specific areas. Each masters degree carries equal weight and has its own purpose in the business arena, however, the MBA in the business world is still considered king.

Response by A1C Private RallyPoint Member made Feb 2 at 2016 10:49 AM

2016-02-02T10:49:57-05:00

It depends on the field you work in. My oldest is a software engineer and was working on his Masters when his mentors said once you have been in your position long enough you will surpass the knowledge of the Masters. The computer world moves so fast. But, my brother has his Masters and it meant a great deal as he in the HR field. Lastly, I would say going to school is never a bad thing.

Response by COL Scott Nestler made Feb 2 at 2016 12:18 PM

2016-02-02T12:18:55-05:00

Here's my 40% of a nickel. First, I don't have an MBA but I do currently teach MBA students (in the Mendoza College of Business, at the University of Notre Dame). In talking with them (a significant portion of whom are veterans), I think the answer is still "yes" in a great many cases. Further confirmation of that is based upon demand from industry, and talking with recruiters at a recent career fair. You may also want to look at some of the more technical degrees, e.g. Master of Science in Finance (MSF), Master of Science in Management (MSM), or Master of Science in Business Analytics (MSBA), etc. that have cropped up in recent years. It all depends on what you want to do. Also, I am aware that some schools are offering (or considering offering) combined degrees (e.g. MBA/MSBA) in 2 year programs. That might be of interest to some as well. I'm happy to answer questions that any may have. Best wishes with continuing your education and achieving your career goals.

Response by SGT Dave Tracy made Feb 2 at 2016 1:05 PM

2016-02-02T13:05:12-05:00

I sure hope so.

My career trajectory is...well, downward sloping. I have my bachelors degree but for me, career progression will require more than I currently have to offer. Sure, I could leave my current job, but it would be another movement to Square 1. My professional "value" in the job market is really no better than that of a newly minted grad; in some respects, it is worse. That's just an honest self-evaluation.

These days, I'm far behind my college (business program) classmates in terms of my pay and relative career position, but that is what has inspired me to go back to school, which I'm working on applying to now. My hopes is that the MBA will not only open higher level, better paying doors, but broaden my business/industry options, which my narrowly focused bachelors degree can't.

That's my situation, and yours is likely wholly different, but I put it out there so you can see why I am rolling the dice on the possibilities an MBA will payoff for me. Hopefully whatever you decide works out for you too.

Response by SFC Michael Bush made Feb 2 at 2016 2:23 PM

2016-02-02T14:23:27-05:00

You should consider a cost to benefit analysis. How much time and money will you invest and what will be your return? I did not pursue a PhD because I don't intend to be a professor and there is no real gain beyond my MBA as a business owner.

Since a 4 year degree has become as common as a HS Diploma was 30 years ago the value has naturally declined especially in general type degrees such as an MBA. Specialty degrees and certificates are far more valuable initially since there are fewer specialists and more generalists.

Response by SFC Russell Shaw made Feb 2 at 2016 4:56 PM

2016-02-02T16:56:21-05:00

It comes to who you are and who you want to be. If you look around a lot of people with MBA's do not have a job. What really matters when it comes to a job is who you are and what do you really want. If the MBA will help you to get what you want then by all means go for it. But if you are doing it just to say you have an MBA you are wasting your money. You really want to make a difference put your money into personal growth, get involved with a person who is doing what you want to do an learn to mentor from them. Take courses that are more about leadership and personal development. So the two questions my mentor asks of me are.
1. What is that I really really want.
2. Why do I want it.
When you figure out your why you will know the next step to take. I think Mark Twain said "The two greatest days in you life are the day you were born and the day you figure out why."

I can't stress how important how important answering the why question is what you really want to do is. When you answer why. Start with the big why first Like I want a Big House. Why do you want a big house? So I can have family over more often. Why do you want the family over so we can do things together?

So why not use that money and spend time with your family instead of working all that time that takes away from family just so you can spend time with them later. Start spending time with them now. That's pretty quick but you get the idea.

Response by SSgt Private RallyPoint Member made Feb 3 at 2016 9:31 AM

2016-02-03T09:31:42-05:00

Hi, PO2 Wallace.
At one time, the Master's degree (any Master’ degree) was best suited for professionals that had been in an industry for a while. Students would learn as much from their peers in the program as they did from the program itself. It was an ad hoc lessons learned environment; you garnered education from someone else’s real world experience. Now, in a job market replete with Bachelor’s degrees, students are starting their graduate degrees immediately after their undergrad as a marketing mechanism on their resumes. Does that diminish the value of an advance degree, making it the Bachelor’s degree you needed a Bachelor’s degree to pursue?
Is it still worth it? Of course. But, as others have already said, the MBA or any degree is best utilized in what you do with it. Its worth is determined by how it’s employed.

Response by SSgt Private RallyPoint Member made Feb 8 at 2016 9:36 AM

2016-02-08T09:36:16-05:00

One theme I have seen here is not just how you use the MBA but where you get the MBA from. Don't forget, one of the most beneficial things about MBA programs is networking. Find a university that has great network opportunities to help you maximize your MBA. Good luck!

Response by SFC James Young made Feb 9 at 2016 8:57 PM

2016-02-09T20:57:39-05:00

Take it from me. I started transition leave in July. I started my next career the same month. I was looking for careers early last year. I had a lot of hiring managers that viewed me as "overqualified"...in one case I was interviewing for a job as an office manager and executive assistant. Median salary for the Austin are was 60k a year (splitting the difference). In actuality I could have asked for more seems how I was wearing two hats. They were offering 23k a year. Sorry, not with aasters Degree. The competetive I had there were people who were experienced in IT, or in sales. Myself and one other person I started with had niether, yet we had graduate degrees. We were chosen 13 out of 300 interviewed and almost 1k applied. I was actually selected a group in May and they basically held on to my resume and invited me to start. A really good interview and my grad degree are what put me over the top. Other than that, a Masters does NOT help you find a career right away.

If you have a certification, like C+, CSSP, PMP, CPP. (I'm not making it that easy, look it up and do some research, learn what these are!) These certifications validate your military service as civilian experience and push you to the top tier of candidates....of course you need to kill it in your interview....always.

A Masters, especially an MBA, in my case an MSM, puts you in another category when you want to look for management positions. Although MBAs are a dine a dozen, there are still a LOT of managers who are at the 4 year degree level. In a few years, I can compete for management positions. When I do so, a graduate degree, with good numbers and performance will put me to the top.

While you are young, shoot for the bachelors. Take a break and look into certifications, and get your masters before you retire. You will be a very desirable candidate.

For transition, look at having a Masters Degree as having attended the Command Sergeants Major Academy as an E5 lol. Personally, I may not want a management position....I'd probably lose money.