As this is a very lucrative market - there are plenty of institutions which offer this degree.
I would like to hear from fellow EFers who have MBAs - was it worth it ?
Did the time & money invested pay off ?
Can I I get the same education by reading business related material & build a network by joining a golf club ?
Yes.
No. But you'd lower your handicap.
Good luck!!!
I'm sure I will get new perspectives - but how much of it is hot air, and how much is actually useful.
How do employers regard MBA - a must have, a "I have one, so he can't be good unless he has one", or "(semi)useless diploma" ?
Yes, but not in the way you will expect. I did mine part-time and feel it was enormously more worthwhile an experience. Less competition in class for the highest grade and much better classroom discussions. When people are working, they are applying the lessons in real life situations every day. Sharing those experiences was much more valuable (IMHO) than competing with a 22 year old fast track wiz kid on his way to 20 hour days on some trading floor.
Yes for knowledge, but no for education.
How (was it worth it) ? - promotion, better pay, new exciting career ?
I have an MBA. It is a fairly generalist course that offers a little bit of knowledge in many areas. This can be useful if you are already in management or wanting to move up the management line.
It may not be so useful if you do not have a business background (ie technical), or do not have a clear career goal.
The MBA is great as a self learning and improvement tool. It is about how you apply the learnings, not so much the paper itself.
No
Yes
Maybe
MBA will undoubtedly broaden your business views and may well get you up the promotion ladder if you are part of a corporation. As an entrepreneur and business owner I have not seen any financial or commercial benefits which I wouldn't have been able to get else where at a much lower expenditure.
me. For myself the largest benefit was it open doors to jobs that I wouldn't have been considered for, so it's all about the paper. I do know of many people who used it to change careers.
Was it worth it? I'd say yes, despite initially earning less than when I went back (I did go to a very inexpensive b-school with a decent reputation).
Well, that was fun! OK, seriously, I did my MBA a while ago to facilitate a change of career and it worked admirably. Those three little letters still carry some kudos, even though every man and his dog seem to have one these days (that's why you have to pick your school carefully).
I was already "senior" (in hierarchical terms) in my old career when I did my MBA. Certainly, the MBA helped me to acquire new management skills and to develop different problem-solving approaches. It also helped me into a new general management role (in a different industry) with a good salary increase; the cost of the MBA was more than offset by the improved remuneration.
Less tangibly, I really enjoyed the experience of studying for the degree and made some very good friends along the way.
I also learned how to answer questions with a simple yes or no.
The name of the school is definitely important. Not for snob value as some might assume, but because both schools and applicants differentiate during the selection process. The best students select the best schools and vice-versa. The and the learning experiences at these institutions then benefits accordingly. It doesn't mean the top ranked school is the best one for you, some schools have a name for being the best in a certain area. However I do doubt if a MBA / EMBA from a no-name institution has real value. In that case I believe what you learnt could be garnered from books.
Finally a lot depends on your reason for doing the degree. One thing I have noticed in my class is that the motivation of my fellow students is definitely not just financial. I think if that is your reason for doing the degree then there are better and less painful ways to fulfill that aim. For me the best motivation is to want to understand business and businesses inside out and to develop your skills as a manager, a leader, and a team player, and open doors leading to new and interesting opportunities. Potentially getting paid more afterwards is an agreeable side-effect.
I already feel empowered by my studies and have no doubt the considerable effort it is taking will be worth it in the end.
Also if you are a techinal person and wanting to branch out into Business Admin.
If you're going to spend time and money on it, make sure you do it from a well accredited Institution/University. MBA degree takes it value from where you do it, simple. e.g. MBA from London Business School or Stamford University guarantees you a high flying job, costs Heaven
You can definitely get the same by reading, but degree is just like a "ticket" or evidence that you actually know, what you claim to know.
I also know that some companies discriminate against people with MBA's in the UK - I'm not sure what the situation is in Switzerland. I've met some extremely competent and impressive people who have MBA's, and equally some extremely incompetent and unimpressive people who also have the same qualification (from top schools). Clearly the qualification does not make a career - although in the right circumstances, it can certainly provide a leg up.
Timing is also critical, as this will reflect the experience you take in and course you can get most from - someone with 10 years management experience might be frustrated to be in a class full of recent first time graduates - no matter how brainy they might be!