I'm about to earn my MBA with an emphasis in Finance if you all haven't realized (I've made it pretty obvious!). Come this August of 2012, I will be done with school for another 10 years (until I get my dreaded Executive MBA).
Was all of this worth it? There are several factors to consider such as cost, time, and the opportunity that having an MBA gives me.
Cost. The school I attend isn't scary expensive. I go to a state school but it is still top ranked for its business program. Not Ivy League ranked, but still good. I can definitely justify the cost, considering the fact that my undergraduate degrees were about 5 times the cost of my MBA.
I would say the school that I attended was definitely a good value. And where I live it's a considered to be a good school, and a lot of CEOs of the big companies from around here have come from this school. My return on my MBA investment will definitely be high. In the end, it'll be worth it. It will take just a couple of months (yes months, not years) for me to make the money back.
Time. Altogether, it took around 1.5 years for me to get my Finance MBA. Not too long, but I had to take 4 classes every semester (besides last summer when I took 0), and I also had to work full-time as a financial anaylst. I had no time for anything.
I wouldn't say I regret anything though about rushing my degree. I'm the type of person who likes to get things done. And it'll be really nice to just be able to relax from here on out.
Money/Opportunity. Getting my MBA will open a lot of doors for me. Yes, this isn't true for every field, but for the specific section of the financial services industry that I'm in, it's pretty much a requirement. More clients will start coming and I'll seem more knowledgeable (well I'll be more knowledgeable as well!) Also, my work already told me that I'd be getting a “big bump” in my raise once I complete my MBA.
I also would say the fact that nearly all of my professors have real life experience is helpful as well. I like how they are able to relate topics to problems that may occur in the real world.
Networking is also important. I've met a lot of people through my classes and this will be helpful in my career and field in the future for when I'm looking for new clients.
I started in January of 2011 and this has not been a long journey, but it has been a tiring journey. Hanging out and talking to people you know for only 1 day a week definitely gets boring and lonely!
Having a full-time career plus attending classes, taking care of 2 dogs, a house, and my younger sister definitely take all my time away. And then of course I still need to make time for the boy and my friends.
In the end, I'm also not going to lie. Getting an MBA is also about adding those three letters to the end of my name. Those credentials are always helpful.
Also, don't forget to read my last post about whether a Business Degree is a Waste or Not. A lot of you left very interesting comments on it, but for the most part everyone agreed. Good experience and learning is needed in order to get ahead.
And here's a big infographic to get your brain working:
Join the free Master Your Money course!
Join the free email course and finally learn how to manage your money better, pay off debt, save more money, and reach financial freedom.