yusufweb 05-18-2006, 03:57 PM Would I benefit from an MBA? I would appreciate all of your input, bad, good, or neutral.
Let me tell you a little history.
I'm a 24 year old liberal arts BA- holding guy. I got the BA from a state school, with an average GPA, around 3.0. A year later, I had, on a fluke, started my own business, and have made it a successful business so far- handling everything from the marketing to the graphic design, etc. by myself. However, I'm pretty clueless when it comes to finances, record keeping, budgets and things like that. After my undergrad, I traveled through the middle east, and lately I've been working a data-entry/tech support job for a bit and making around 30K a year.
I essentially realized in working at my own business that I loved the various aspects of running a business by accident, and would like to explore that further. My specific interest lies in marketing. And would probably enjoy a job in that field.
I was thinking of applying to Drexel University's 1 year MBA program, and taking out a loan to do it full time. Ive been reading various forums and usually they say that unless its from a top 10 school the MBA won't matter much in terms of upping your salary level, etc-- but I believe this to be true maybe of people who started their undergrads in business.
So, my questions are these. 1. What kind of salary can I expect to receive after an MBA at a school like drexel, or something that isn't one of the top schools (yeah, im a bit of a pessimist).
2. I know that many MBA progs are targeted towards people who want to do it part time as a way to switch careers, or as career training. How about me, with a liberal arts major who suddenly realized that business is something he loves? Also, will I learn skills that would be beneficial to my business--- on the financial side. budgets, taxes, things like that?
Would appreciate any of your help. I may have left out some details, so feel free to ask any questions as well
Thanks
-J
philipwhite 05-20-2006, 02:53 AM 1. What salary you're going to make is relative to where your living and what you plan on doing for a living.
2. Your still young enough that switching careers isn't a big deal. A lot of MBA's have non-business backgrounds.
The people who say a MBA is worthless unless its from a top 10 school are either dillusional, living in an ivory tower, or they haven't gotten their rejection letters yet. Going to a top school has it's advantages but like any degree, it's really what you make of it.
Even if you graduate witha MBA you may find yourself hardup looking for work. It doesn't sound like you currently have people/project management experience and this will definitely make things more difficult. If you want to increase your job prospects, you may want to find a job as a project manager and get a bit of experience for a year or two before pursuing the MBA.
goldctrsteve 05-20-2006, 10:03 AM I went back to school after 20 years in the workplace. I found my MBA to be useful since it plugged a number of gaps. More importantly, it brought to the fore the suppressed entrepreneur in me.
If the entrepreneurial bug has already bitten you, I would pursue that direction before embarking on an MBA program. Being an entrepreur is risky and not easy in later life - when the obligations of family life conflict with the risks of running your own business. Also, I'd hate to see you get into debt right now; that too would limit your options in the future.
You can always take a finance course if you believe you are weak in that area. You don't need a full-blown MBA to do that.
I'd recommend that you follow your heart and your dreams. Reading between the lines, I can guess what they are.
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