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Masters Degree

J

JDB

Member
I know all of you are well educated, some from the school of hard knocks and others from formal learning institutions. I am 44 years young and am thinking about going back to school for a masters degree in business, not sure what emphasis (management, marketing, finance, ect). My bachelors was in business too.

For those of you who have their masters, was it worth while? Do you feel that it enabled you to go higher?

Anyone feel free to chime in.
 
MA education 1972 taught 8 more years but only got $400 more per year. Best thing was paid by GI Bill. Teachers did not make much in 1980 though.
 
JDB,

I have a BS in Business with an emphasis in management. My Master's is in a totally unrelated field, so I can't say whether or not it would/did help in my business career. However, here's just one old guy's opinion.

If you're going to pursue a career in education or government, go for the Master's. Those fields highly value degrees.

If you're going to pursue a career in the private sector, decide what you want to do and then learn HOW to do something. Private sector doesn't care nearly as much about the number of degrees that you have as they care about what you can actually do.

Advanced degrees in communications, human relations, management, etc. mean very little. They're so hypothetical and philosophical that they don't really teach you HOW to do anything.

Accounting and finance are better degrees if you're actually going to be working in those areas. You can use the technical education to do a better job.

So, in my opinion, you need to decide what you want to do and then learn how to do it. Don't bother with a bunch of "foo-foo" unimportant information that probably won't help you perform any better.

Good luck,

Tom in TN
 
I can not say form my own knowledge but I can say from my dads. If you go do it to the top or do not do it. A masters degree is ok but those that have them are pretty much a dime a dozen. So if you do it go for a doctors degree or do not bother doing it. My dad got a lot of teaching jobs with a masters degree but also lost the same job when they found a person with a doctors degree. And due to that fact I lived more place by the age of 18 then I was old and believe me it got old.
 
I took advantage of my employer's tuition reimbursement plan to earn an MBA in engineering management, finally receiving my degree at age 34.

Was it worth it? Since it cost me nothing besides my own time I gotta say yes. My degree helped me advance into management quickly over my non-MBA coworkers (mostly BS/MS-degreed engineers). Also there's the intrinsic satisfaction of having earned an advanced degree.

However if I had to pay myself for an MBA today (around $75K for a masters at current tuition rates) the answer is not so clear.

Consider taking that same $75K and invest it in Roth IRA right now. Then factor in your lost earnings while you study, the additional expense of books, computer(s), etc. Your MBA is gonna have to result in a pretty significant increase in pay over the rest of your working years in order for you to simply to break even.

Keep in mind also that once you've landed a higher paying position based on your degree, career advancement beyond that will be based only upon your results (your boss is gonna keep asking: What have you done for me today?). Your MBA will mean nothing.

----

These are my thoughts - your results may vary. Best of luck to you however you decide to proceed!
 
I got my B.S. in Aeronautical Engineering and worked for a couple of years before deciding to go to grad school for an engineering masters degree. I did that (with an experimental thesis) while working full time. I worked in a real technical job (propulsion aerodynamics)and it definietly helped me to move up. I had the opportunity to go on to a PhD but I didn"t feel I could do that degree justice and work full time (except doing the course work) and I had a wife and two kids and I didn"t think the payoff would be there if I did. I retired as Chief Engineer for Propulsion and Preliminary Design which was my dream job. I had about 125 people in that organization and ~ 75 had PhD"s, ~ 30 had Masters degrees.
I think that post graduate education is helpful but the degree isn"t the only factor. You gotta" deliver. The degree gives you additional knowledge and capabilities that the competition may or may not have. If they don"t have it then you have an advantage. But you still gotta" deliver!
There are other benfits also. You take your degree with you when if you leave. It sometimes makes you more marketable if you decide to look at other companies.

I remember the company picked up my tab for grad school but it was like at total of $6000-7500 back in the 1968-1972 time period. The hard part was the time I spent getting the degree. Running the wind tunel til 3:00 am and then going home catching 4 hrs of sleep and going to work. I wouldn"t study until the kids were in bed at 9:30 pm so I could spend time with them. I"d try to keep th weekends free so I could do things with the family. My job took me to remote test sites so that had to be factored into the equation. It was a real juggling act. But I don"t regret it. I was young and I wanted to do it. I don"t think I have ever quit learning and I learn a lot on these forums.

I hope some of these thoughts may help you in your decision and I wish you the best, whatever you decide to do. Just remember - knowledge is power!
 
I have a MS in Geology, it only helped open the first door (at a big oil company) After that it was all work history. If I was to get a MBA though it would be in information services /computer science or something to do with health care administration. All sorts of over paid consulting jobs in those industries.
 
My wife got her MBA 3 years ago.
It was $20,000. Her salary went up $15-20k because of the MBA. She had to take 14 classes, she took them 1 at a time and is now an accounting manager. (she makes more then me now and has since 2005)
 
old-

In today's world, the PhD's are a dime a dozen and are looking for work.

I'd advise him to go for the Masters, especially if he can get it through some sort of tuition reimbursement plan or something similar. Then stop. The market for PhDs isn't going to increase. Lots of them might be saying , "Welcome to WalMart."
 
At 44 you should have a work history so for opening doors the MS isn't going to help.
HOWEVER some companies require a MS to be in certain jobs.
Also if you haven't been taking some night courses to keep current in your profession then you need to.
Put the two together, get current and get a MS.
 
My daughter is a Nurse Practitioner and she has a double master's, one in nursing and the other in Public Health. She's been a friend of a lady that was a respiratory therapist and at our daughter's urging she went back to school and received her BA and MBA from Johns Hopkins. Both make over 100k yearly. Hal
 
I'm 63 and still going to school. My employer had a program to help us stay in "continuing education". 40 years with them and I took full advantage. Now I'm retired (from that employer) and still at it.

Yes, the education was most advantageous during my working career. Helped me move from a carpenter in the field to a nice office job (estimator) as I got a little older.

Working on my doctorate now. 2-3 years out at present rate.

They can NEVER take away your education.
 
I have my BS in Mechanical Engineering, and I am planning on going back next year and getting a Masters in Hospital Adminstration. So I think getting a masters really depends on the area of intrests you choose. I do recommend doins some research in you local area to see what degrees are sought for.JMHO.
 
At 67 years old I still study every day. I like mathematics, physics, and any number of things. Anything that you learn can help you. You never know what it will lead to. Some times just meeting people that are interested in the same thing that you are will help you to get where you want to go. Go for it.
 
It all depends on where you are located, the school you go to and your work history.

I work in rural Kansas (more or less) and an MBA means less than my CPA. If you've always held middle management positions and are currently unemployed getting an MBA might hurt more than it helps. If you are in a large organization and promotions are limited if you don't have an MBA then take the plunge.
 
Well in the practical world, what you know is what counts on doing your job. Doesn't make any difference where you learned it in school or OJT.

Here is my story: My daughter worked in accounting office in large hospital, no degree. Several jobs came open that required a degree. They knew she could do the job so they changed it to non degree job so she could have it. Daughter finally went for degree. Took her 10 years going part time raising family and all. About half way through my wife ask her if anything she learned at school has helped in her job? She said no, it's the other way around. What I know from my job has helped me a lot in getting this degree. Finally got degree and she kept same job but they changed it back to degree job and big money increase. Since she has got several raises and promotions. She still says the degree got me more money but not anymore knowledge about my job.
 
The 3 "Degrees" are:
BS...everybody knows what that means.
MS...More of the same.
PHD..Piled higher and deeper
I have 7 years of post high school education,and
a degree in "Finance", but 8 hours a day sitting
behind a desk in a bank, listening to people
whine, would drive me to the assylem!
So I took a "Machinist" Apprenticeship with the
"Burlington Route,and became a Locomotive
Mechanic. The satisfaction of spending 8 hours
replaceing fuel injectors in a 3000 horsepower
General Motors V16 2 cycle Diesel, setting the
valves, and then going for a test ride at 60 MPH
and hearing that engine purr, and knowing it's
due to "Hands On" skill, and "Pride in workman-
ship", is my reward! I retired in 2002, making $21 per hour. Railroad Engineers now can make
$80,000 per year after gaining some seniority,
The highest paying job, for a high school graduate. and the railroads are hireing. The jobs
are there..and no need to stifle in an office!
 
I decided after I retired at 38 years engineering for a telco, to persue my masters.. so I join the union and became an apprentice working in the marine industry. Then worked my way up to journeyman... and finally after years of hard work, finnally got my big cirtificate.. I am now officially a ...... MASTER Baiter in the fishing industry. Wow, would mom and day be proud.
 
JDB:

The typical MBA program is very helpful to holders of undergraduate degrees in different disciplines, especially technical disciplines such as engineering and computer science, but is of little value to holders of business undergraduate degrees.

Having electrical engineering and computer science undergraduate degrees, I found my MBA degree very valuable as did employers, but I would have choosen a different discipline had I had a business undergraduate degree.

In any event, I certainly would not advise you to self-fund your MBA education.

Dean
 
Do you have an idea as what you want to do once you get your masters? Do you have a specific position in mind at this time? Around where I live I would not get one expecting that will automatically open some new avenues as the market is over-saturated with advanced degrees looking for work.
A person who has been a close friend for over 35 years tells me of the weekly going-ons of the company he work for. This company does some advanced engineering for aero-space and it seems about every quarter somebody is getting kicked to the curb regardless of education because they want to bring somebody in that will work cheaper. My friend would add to his degree (and has in the past) if he thought it would help create job security but the cost savings seems to be the main objective of the company. He talks every time I see him of he and his peers trying to figure out their landing spot if they are faced with the ax. Granted this is in Upstate New York where the economy has lagged for quite some time.
Is it possible to "feel out" the HR people of where your degree would most likely be put to use to find a direction? It's never a bad idea to enhance your education but if you are not sure if your going to see the financial payoff anytime soon you need to be aware of that too as to managing your expenses.
 
In any event, I certainly would not advise you to self-fund your MBA education.

=================================================

What does that mean?
 
Get a good job and let them pay for the schooling.

My son got his Masters courtesy of John Deere.

He got his MBA courtesty of Mosaic Fertilizer.

My dad paid cash for my BS in Animal Science. Cost less than $8,000 total back then.

Gene
 
I would not advise paying for it myself, but would take advantage of my employers tuition refund plan as did I.

Dean
 
Our daughter got her master's from Johns Hopkins
with a loan with a nnalert for 10 years and she paid it off herself. Hal
 
A friend opened a bait and tackle shop a couple years back. Calls it the MASTERBAIT HOUSE. The church next door is incredibly proud as you might imagine! ;)
 
Just finishing my MBA with undergrad in mech. eng.

I went because the company was paying for it and was told by the President that it would mean significant career opportunities i.e. more cash.

However I find the degree useless and have learned almost nothing that I previously didn't know. This is from a good school too, Penn State.I would say if you've got a job lined up or are in the government sector then maybe it might pay for itself. But I sure wouldn't want to pay for it out of pocket Mine cost close to $75k
 
I have three sons, two with Masters in management/MBA, with engineering BS degrees. The other has a BS in business, and is a CPA. All of them have seen some rough times in their industries, but have remained employed. I can't say whether it was due to the degrees or the fact that they are hard-working, hands-on kind of guys, but I know it didn't hurt them. One was paid for by his employer, the other by virtue of the fact that his wife worked at the college.
 
JDB,
You ask a good question, but you left most of the information behind your question out.

You have a BBA, and interested in a MBA, wondering if it will benefit you.

1. Are you utilizing your BBA now?
2a. Are your peers moving ahead and not you?
2b. Do they have advanced degrees, or people skills, or both?
3. What degree is common in your line of work? It is possible to be overeducated, somewhat reducing your marketability.

So what I am eluding to, you need to research others in your field, and determine what education they have, workers, and management. Then make your decision from there.

To give you a straight answer, an MBA is more education that can never be taken away from you. But don't think for one minute anyone will owe you a better position. That will come from your current work ethic. The MBA will just be a tie-breaker between you and another employee for a promotion.

The larger the company the more "tied" they appear to be to that piece of paper called a degree. Smaller companies tend to put more emphasis on your track record.

In my field, advanced degrees are almost a requirement, if you plan on moving up you will need one for sure. BUT, an MS or PhD, does not automatically move you up.

I have been out of school since 2005. I still take 1-2 classes a year (post-grad engineering) to stay current.

Hope this helps.
Rick
 
Instead of getting a masters degree I would like to invent a time machine and go back 30 years and hire in at GM. Then I could be walking around with my finger up my butt making $3000 a month with full benefits like everybody else that lives around here.
 
I think it depends on what you are doing and what you hope to do. An MBA might mean a great deal, even be essential, in some corporate jobs, but might mean nothing in others. A master's degree is going to cost a bunch of money and time, and one would hope that that investment would lead to higher pay later.

I know people with MA's and PHD's that are out of work or are remarkably underemployed in this tight job market, and some of them have said that they are perceived as overqualified for the jobs they apply for, but there just aren't any at their high level. I know of middle aged teachers that are having a hard time finding new jobs, since they would have to be paid a lot more than a beginning teacher right out of college.

I enjoyed going to college, in fact I would say that those years were some of the most fun and free and easy times of my life. I learned a lot, got good grades and had a great time, but my BS really never earned me any extra money in the career I ended up following.

But your experience might be far different than mine was. And only you can choose what you do for the rest of your life. If you have a family, you probably need to factor that in. What would going back to school have on your family? Good luck! HTH
 
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