[misanthrope87]

Since I love torturing myself, I’ve been thinking about pursuing an MBA in a top 20 school. But then…I saw the prices. The 2 top 20 schools nearby cost 100k for the entire program. I find this to be completely ridiculous. It’s not as if I’m going to be guaranteed a high paying job. I’m not gonna be a pharmacist or doctor making few hundred thousand in a year…Even if my employer were to reimburse a portion of my schooling, it just doesn’t seem feasible. I could go to one of the local cal states which are much more affordable, but that seems like downgrading in comparison to the school I went to for an undergraduate degree. Any thoughts?

B 2/12 87
A 11/11 90
R 8/11 86
F 5/12 88

[Anonymous]

I plan on getting my MBA at a high ranked school. I may be moving for work to Chicago and they have a great MBA program. I think that if you have a goal of being an executive or something, an MBA with a CPA proves you are dedicated and have the ability to do other things than just crunch numbers. I also think that getting an MBA from a higher ranked school has a certain umph to it. I view it a lot like the CPA. Ya most of what you learn in the CPA will never be used or if it is you have the ability to look it up. Almost anyone can get an MBA from a not so great college but it takes a unique person to get it at a ranked school. Just my 2cents 🙂

[Yvonne570]

An MBA is nice, if you want to move up or are with a company willing to allow you to promote. If not, then you may need to look elsewhere for a job. I was told by my boss that I will need to look for another job in order to move up even if I exceed expectations and am looked to for problem solving and advance decision items. Another guy at the company recently got his MBA and was approached by his friend a director and was congratulated. The director offered to help him advance.

It all depends where you want to go in your career. Keep an open mind; however, that this is not an immediate ticket to advancement. In my case, a little more effort may pay off.

AUD - Passed:)
FAR - Passed:)
REG - Retake TBD
BEC - Missed by 3 points Retake TBD

[Minimorty]

So many people with MBAs from top schools are unemployed or underemployed right now. You are better off using the time getting a professional designation and working your way up the chain in a private company. Experience and professional designations almost always trump academic degrees.

[Anonymous]

I agree with @Mini,

Experience is VERY important, I am not saying that getting an MBA in a high ranked school is not important, but I personally would not do that if I don't get any scholarships to help paying for my tuition.

[Anonymous]

I meant scholarships from the school that you are applying for. But good luck with whatever decision that you are going to make 🙂

[misanthrope87]

@Atlery

I don't think there are scholarships and such for people who are going part time. But I agree with you. I really don't think I'll be going for it unless a large portion was reimbursed by an employer.

@minimority

Very true.

@AKb9874

All those things you said are true, but the hard part is getting the funds for it. I wouldn't feel comfortable at all going 100k into debt knowing there wasn't a more likely than not chance of being really really successful.

B 2/12 87
A 11/11 90
R 8/11 86
F 5/12 88

[Yvonne570]

Have to admit, an MBA is a nice investment as long as you do not accumulate student loan debt. LOL.

AUD - Passed:)
FAR - Passed:)
REG - Retake TBD
BEC - Missed by 3 points Retake TBD

[mla1169]

I backed into all of this. Got my BS in accounting (accumulated debt), then went for my MS in accounting (add more debt) THEN decided to go the CPA route.

Now I am starting to teach one class to pay said student loan debt, and am leaning toward a total career change to teaching, which I never could have done without the masters. Funny how that worked out.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[laughingman]

Well to be honest an MBA in a really good school is the way to go if you plan on being a partner at a firm or a CFO at a large CORP. otherwise those professional designations or job experience would be what I would do. A MBA from a state school isn't anything to sneeze at either btw. But 100k in debt you are really going for broke that way.

Reg: 84
Aud: 84
Far: 81
Bec: 83

No more long nights...well due to studying for this test...

[Anonymous]

If you have decided on an MBA, then the next decision is which school?

Either go Ivy League or cheap.

If you can get an Ivy League degree, you'll have connections. Imagine Mr. Facebook coming by Harvard B school looking for you in person.

If you can't swing an Ivy League school, then go for the cheapest school. If you have a MSA or any graduate credit, ask if they will transfer credits.

Avoid student loans if you can, get graduate assistant ships if you're doing full time. I was a TA in a computer lab for my MBA, and it saved me lots of money.

[Yvonne570]

So the only reason is to stay away from student loans – they will ruin your life. LOL. Otherwise, go for it.

AUD - Passed:)
FAR - Passed:)
REG - Retake TBD
BEC - Missed by 3 points Retake TBD

[FrenchToast]

I'd like to preface my response by stating that I am not the most knowledgeable person on the subject. That being the case, the GMAT and an MBA are hopefully somewhere in my (relatively) near future. In speaking with former professors, colleagues, friends, internet forums, and family, the better the program you attend, the better your career prospects. Sounds like common sense, right? More so than nearly any other field, your future success will be tied to the quality/rank of the business school you receive your MBA from. Think about it — teachers, nurses, doctors, and other such professionals will have strong career prospects regardless of what school they attend for their masters. Business professionals are not so fortunate. The big take away is that the best program to attend is the best program you can get into. Frankly, if I can't get into a top 10 program, I may never actually get my MBA. The cost/benefit of a non-top 10 MBA program simply wouldn't make sense to me, unless my employer was paying for it and strongly encouraged it.

[spineshank77]

I graduated from a top 30 MBA program and let me give you my honest opinion. If you are going to be working in public accounting then better not waste your time or money, if however you do plan on working in industry then I would highly recommend it. I am learning the hard way now, I work for the big 4 and I have colleagues that graduated from some unknow universities and get paid as much as I do ( I forked our $80,000 for my 2 year MBA program)

dont forget studying for another beast called the GMAT. Only you can make this decision, weight the costs vs benefits and see if it makes financial sense

FAR: 79, what im done??
REG: 75
AUD: 75
BEC: 77

I would rather score four 75's than three 99's and a 74

[misanthrope87]

@Yvonne570

Agreed!

@bobkorz

There's a lot more options than those 2. =/ There's 2 top 20's that are a drive away. It'd be nice to go to one of those but the 100k price tag is too much.

@spineshank77

I certainly will NOT stay in public accounting. Can't wait to do my 2 years and GTFO. Hate it with all my heart. =)

B 2/12 87
A 11/11 90
R 8/11 86
F 5/12 88

[spineshank77]

dont know about u Misanthrope87, but I wake up every morning feeling estatic that I have a 13 hour work day ahead of me! 😉

FAR: 79, what im done??
REG: 75
AUD: 75
BEC: 77

I would rather score four 75's than three 99's and a 74

[Author]

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