ShouldIGetanMBA?

X420DiscussionSession#70

Is it
worth
it?

Will I be
accepted
in a
program?

How do I
begin?

When
should I
start?

What will I
learn?

Which
type of
program?

What schools
are right for
me?

MBATrends

1965<10,000MBAsawarded
197748,000MBAsawarded
199894,000MBAsawarded
2004110,000MBAsawarded
Twothirdsofthesedegreesawardedtopart
timeordistancestudents
20%ofgraduatesplantogointobusiness
forthemselves

WheredoMBAsWork?
Manufacturing
ServiceIndustries
Government

WhatdoMBAsdo?

Accounting
Corporatefinance
Informationsystems
Financialinstitutions

Marketing
Consulting
Personnel
Generalmanagement

StartingSalaries

$70k$90k+
SigningBonuses

WhyGetanMBA?
Toopennewcareeropportunities
Personaldevelopmentintellectualstimulation,
selfconfidence
Shiftfromindividualcontributiontomanaging
others
Tofurtheryourcareerstaycompetitive
Toincreasesalary
Potentialtonetwork
Companyadviceorrequirement

WhyNOTtoPursueanMBA!
Lookingforasilverbulletforsuccess
Somethingtodowhilelookingforajob
Unhappyincurrentjobwithoutknowing
why

TypicalMBAStudentProfile
Midtwentiestoearlythirties
Goodacademicbackgroundwithsolidwork
experience
Ambitiousanddetermined
Strongideaofcareerdirection

WhatYouGetwithanMBA
Bootcamptrainingformanagement
Afocusonallspecialistareasof
management
Combinationoftechnicalandsoftskills
Indepthfocusofaparticulardiscipline,if
desired
Credentials

ChoosingaProgram

Curriculum
Teachingmethods
Deliverymethods
Schools

Curriculum
Traditional

Beginwithfunctionalcorecoursesfinance,marketing,
accounting,macroandmicroeconomics,operations,IT,
humanresources,quantitativeanalysis
Generalmanagementthemeslegal,social,ethicaland
technologicalissues;changemanagement;organizational
theoryandbehavior;strategicmanagement
Advancedcoursesorelectivesinacorearealeadingto
majorconcentration

Variations

Incorporatesofterskillsleadership,negotiation,
teamwork
Internationalizetheirfocus

TeachingMethods

Theorymethodlecture/discussion
Casemethod
Teamprojectsandpresentations
Computersimulation
Incompanyprojects

DeliveryMethods

Fulltime
Parttime
Executive
Distancelearning
FlexibleMBA

FullTimePrograms
Typicallytwoyears
Someworkexperiencerequired(typicalage27)
Advantages:
Highinteractionwithotherstudentsandprofessors
Abilitytotakenumerouselectivecourses
Appropriateforcareerchangers

Disadvantages:
Longtimeawayfromwork
Expensive

FullTimeDegreeCostAnalysis
+ Tuition,supplies,books,livingaccommodations
Financialaid,parttimeemployment
+ Lossofsalaryduringschool

TotalCost:

PartTimePrograms
Typicallyfouryears(nightclasses)
Studentstendtobeolderwithmoreworkexperience(typicalage
33)
Advantages:

Continuetoworkwhileattendingschool
Employersmorelikelytoprovidetuitionreimbursement
Utilizewhatyoulearnonthejobasyoulearnit
Ongoingworkexperiencemayenhanceyourperformanceintheprogram

Disadvantages:

Timeislimitedwhichplacesstrainonjob,studiesandfamily
Companymaynotlikesubordinatingworkeffort
Promotionsand/orraisesmaynotbeautomatic
Degreemaynotbeviewedasprestigiousasfulltimedegree

ExecutiveMBAs
Weeklyonedayclassesorbiweeklyweekendclasses
Typicallytwoyears
Studentstendtohavesevenormoreyearsofworkexperience
andalreadyinamanagementrole
Advantages:

Companysponsored
Continuetoworkwhileattendingschool
Applylearningimmediately
Classmatesprovideexcellentnetworkingsource
Programsarelucrativesoschoolsprovideperksandtopfaculty

Disadvantages:

Limitedchoiceofcourses/majors
Timeislimitedwhichplacesstrainonjob,studiesandfamily
Limitedexposuretoclassmates

DistanceLearningMBAs
Mostcourseworktaughtandcompletedonline
Typicallythreetofiveyearsdependinguponstudentintensity
Advantages:

Enhancecyberskills
Freedomtoworkatownpace
Lessexpensivethanotherprograms
Locationisnotanissue

Disadvantages:

Highdropoutratehardforsometostaymotivated
Fewcompanieswillsponsorthisdegree
Limitedphysicalinteractionwithotherstudentsandfaculty
Fewfullyaccreditedprograms

FlexibleMBAs
DerivativeofDistanceLearningMBA
Combinesclassroomwithonlinecourses
Advantages:

ManyofsameadvantagesasDistanceLearning
Manyfullyaccreditedprogramsaresomeonlinecourses
Canmeetwithclassmatesandfaculty
Canacceleratethedegree

Disadvantages:
Costandtimeofattendingclassattheschool

Timing

SelectingaSchool
Selfanalysisreasons,personalstrengthsandweaknesses
AccreditationAmericanAssociationofCollegiateSchoolsof
Business(AACSB)
Suggestedcriteria

Reputation
Size
Location
Tuition
Schoolsmission
Specialization
Teachingmethodsandenvironment
Placementservices

SelectingaSchool(cont.)
ResearchSchoolstofindafit
PublicationsMBACasebook,TheMBACareerGuide,TheMBA
Advantage,WhichMBA?
BusinessPublicationsBusinessWeek,U.S.News&WorldReport
Getinformationfromschools
PersonalvisitsandMBAforums

Rankings
Manydifferentrankingmethodologies
Shouldinfluencedecision,notbesolefactor
Schoolrankingsdoimpactrecruitingcompanies

Admission

Selfmanagedapplicationwithessays
Academicrecord(transcripts)
GMATscore
Managementskillsworkexperience
Lettersofrecommendation(specific)
Extracurricularactivitiesandcommunity
involvementforleadership
Personalinterview(possibly)

FinancialAid
Meritscholarships
Parttimeemploymentgraduateassistants
Loans

SHOULDI
GETAN
MBA?

EVALUATIONQUESTIONS
USE:
1. I found the presentation material
a.Stronglyagree
easy to understand.
b.Agree
c.Disagree
2. This discussion session increased
d.Stronglydisagree
my knowledge of the subject presented. e.Dontknow

3. I will be able to use some of the

information from this session in the future.
4. The presenter was well prepared for this discussion session.
5. This presentation should be repeated in future semesters.