The MBA thread

petedude

higherho wrote: »

Interesting. thank you for the link. I will reconsider the MBA option and got for the Information SEcurity / Awareness (I been on the fence).

If you're in the US and you're considering going into gov't security work--
I would think an MSISA with certs would be of value (e.g. WGU's program).

That's an example of where an MS fits a specific career path. It's also an example of where an MBA would be nearly useless.

higherho

petedude wrote: »

If you're in the US and you're considering going into gov't security work--
I would think an MSISA with certs would be of value (e.g. WGU's program).

That's an example of where an MS fits a specific career path. It's also an example of where an MBA would be nearly useless.

Yes I am a US citizen and my future goal is to get into IT management. Of course right now I want to do technical work, etc but in the future I want to solely be on the management team of things. I was first thinking of getting both Master Degree's to satisfy both requirements lol.

Will I stay with the Government? Most likely unless I get a better position internally.

petedude

Now that I might have your attention--

If you're hoping to teach college after an MBA, you'll need to have 18 units in a specific business discipline (e.g. Accounting) for many schools' positions. Not all MBA programs have that many credits built into their MBA concentrations, so you'll likely have to take extra courses.

Northcentral U (North Central University) is an example of one school that has 18-credit concentrations for their MBA. Note: this is not an endorsement of said school, just an example.

powerfool

I will tell you the one key problem that has been perpetuated in MBA curriculum that has been a HUGE problem. The focus is strictly on creating more value and investing more money into the business and paying very little attention to cost so long as you have a good ROI. That is a large part of the current recession. You have to take a balanced approach, which means watching expenses and sometimes passing on something with great ROI because the upfront costs are too much. The CFO at my previous company chastised me repeatedly for being cost-conscious... and then the entire IT department lost their jobs to cut costs; go figure.

An MBA can definitely be worth it and an absolutely outstanding boost to your career. However, there are some general guidelines you should use (and this is in no way a definitive list):

1) Don't pick just any school (unless you must have it just to tick a required box): You MUST pick a school with a good reputation. Pick the absolute best school that you can afford (considering tuition, schedule flexibility, geography, etc). Believe it or not, but the name means a lot to folks in larger organizations. When the execs are alums from these schools, they love higher folks from their alma mater. It may not be an ideal situation, but it is reality. My company as a "preferred" list which is basically a list of schools that the partners attended.

2) You make the most of your opportunities: Everybody always talks nice about team work... it is almost always a sham... there is rarely a team performance, even in sports (with some notable exceptions)... it is typically a star or two that pulls the weight. That is the way it works in the working world and all of society. So, if you have to opportunity surround yourself by the more adept folks and make sure that you at least get your networking setup with them.

3) Get your employer to pay for as much as possible: Don't make yourself a slave to a student loan payment on a debt that is as much if not more than what most folks earn in a year. The folks that were talking about $40k being expensive are in for a shocker... the best schools are starting at $80k and they got up from there... past $100k. That being said, you need to get your employer to kick in. They will not likely cover most or even half, but work with them. I don't know what options are really out there, but perhaps you could work out a student loan repayment program after your degree is done.

4) Get your tax situation worked out: There are basically four ways to improve your tax situation in regards to higher education (in terms of the US):

I. Save up in a 529 - You can sock away cash into these accounts and accrue interest tax free; some states offer a state tax credit for deposits, as well.

II. Take an "Above the Line" deduction: You take up to $4k/year off of your modified adjusted gross income (MAGI). This basically lowers your taxable income. This probably has the lower benefit.

III. Tax credits: instead of an above the line deduction, you can get a tax credit Hope or Lifetime Learning (usually the Lifetime Learning, as Hope applies to first two years of post secondary education). You get a better bang for your buck, but it is limited to $4k/year. Your credit is a dollar-for-dollar reduction in your taxes.

IV. Unreimbursed Business Expense: This has the least amount of restrictions when you are talking about an MBA. You get the opportunity to write off MUCH more, but only what exceeds 2% of your adjusted gross income (AGI). Since we are talking about substantial amounts of money, this is probably your best bet. Plus, this may help you in qualifying for other tax benefits that you may not get because of a higher AGI. For instance, you may make too much to qualify for the education tax credits, but if you lower your AGI by writing offer your MBA as an unreimbursed business expense, another student in your family may now use one of the tax credits on his/her tuition. This can also help you retain child tax credits if your income would have exceeded the limits to do so, otherwise.

At the end of the day, you MUST create a value for your employer. Beyond achieving goals set out for you, you must go beyond and provide solutions for other dilemmas. You must provide cost-effective solutions, as well. There is typically tons of low-hanging-fruit that can go straight to the bottom-line and make you look like a superstar. Take on more responsibility. Mentor and lead others to success. Always seek to improve yourself.

By doing so, along with other positive career moves, you could easily get into a $150k or more position after some years of experience under your belt post MBA.

Verruckt

Meh, I'll just add to this for my situation:

Enrolled in the MBA in IT Management at Florida Tech. Yes online, but the campus is less than 50 miles from me so I get to go up there every now and then. Total cost is around $28,000 - not too bad.

Late twenties and have had a mix of sysadmin, network engineer, and project management roles for the past 6 years. Realistically I'm looking at the MBA because I like to know what goes on behind running a business and how to properly operate one. Focusing on the IT Management because I always had a knack for project management and overseeing large projects. This is what I found most enjoyable.

To those who are considering it - work while in school and set aside money each month to pay for the course. Don't go in complete debt for the program on the off chance that it pays off later. Also don't go to the course just because you want to be paid more. Be seriously interested in what it entails.

If you work throughout the program and put even $500 a month aside towards your MBA then you are $12000 ahead of the game when you finish in 2 years. That doesn't include any interest you might make on that money in a good, solid, account.

Devilry

A state college here, Kennesaw State University, offers a pretty good selection of programs, for the guys and gals from Georgia. They additionally have one online MBA program.

M.Sc. - Information Systems (Campus) - Under $10k
KSU Coles College of Business - Master of Science in Information Systems

MBA (Campus) - Under $10k
KSU Coles College of Business - MBA Program - Home

MBA/M.Sc.I.S. - Dual Degree (Campus) - Under $13k
KSU Coles College of Business - MBA Program - Dual Degree Programs

MBA (Online) - Under $20k
KSU Coles College of Business - MBA Program - Web


I plan on taking the MBA/MsIS dual degree, you cant beat that program if you are local. For local students, 1/4 of the program is available online with 1/2 expected by 2012 according to admissions.

petedude

Good article from Forbes.

The Ten Biggest Lies of B-School - Forbes

GAngel

I'm doing mine from a top unis now. I'd have to say it's only worth it from the prospect of the 1.x amount of time off work doing bird courses and networking.

If you're in the 80k and up range you won't really get much if any bump in base income. Most of my class are getting job offers for 10-15% higher than what we were previously on because we're already near what the max the market will pay. If you're successful already i'm not sure why you'd even bother if you'd stayed in the market you'd probably be in the same place salary wise anyway especially if you're going back into IT. It will get your resume noticed by f500 companies if you've been working at smaller shops but if you're already there once you're in *shrug*.