MBA or?

Expert replies

steven212344545: Newbie | Next Rank: 10 Posts; Posts: 1; Joined: Sun Oct 25, 2015 12:43 pm

by steven212344545 » Sun Oct 25, 2015 12:44 pm

Hi, I am an electrical engineer with 8 years of experience, worked in power distribution, sustainability and renewable energy. I am planning on doing my MBA next year, it seems like a big commitment and wanted to see what others out there think. I am an energy guy, want to spend my life working in the energy field and specifically renewables "Solar, Wind and energy storage". Currently thinking of applying to Booth for an MBA since I live in Chicago and Booth is, well , booth. My main concerns are the following.

1- Is it worth it for someone like me with energy interest to do his MBA at schools that focus on finance or marketing?
2- I plan to do this part time over 3-4 years. everyone tells me to do full time MBA , however if I got full time I can only afford to go to Urbana. Which route should I take?
3- Is there one year degrees out there in energy management that basically are MBA's for people interested only in energy business.

My problem is that my end goal is to open my own business in 10 years, but I feel spending 150K now will make it harder to do that in the future. I have been a technical engineer till this moment, and I believe I can make a much bigger impact if I move into business. Any input is appreciated

Source: Beat The GMAT — Research MBA Programs | Sun Oct 25, 2015 12:44 pm

Jim@StratusPrep: MBA Admissions Consultant; Posts: 2279; Joined: Fri Nov 11, 2011 7:51 amFollowed by: 266 members; Location: New York; Thanked: 660 times; GMAT Score:770

by Jim@StratusPrep » Tue Oct 27, 2015 6:58 am

I would strongly recommend going to a full-time program. It is expensive, but the network that comes out of it will be much better. I would apply to more general programs, think HBS, Stanford and Duke. Worry about the finances after you get in; there are definitely scholarship and financial aid opportunities.

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CriticalSquareMBA: Legendary Member; Posts: 1088; Joined: Thu Apr 18, 2013 3:29 pmFollowed by: 52 members; Thanked: 171 times

by CriticalSquareMBA » Thu Oct 29, 2015 12:47 pm

Hi there!

At the surface, it sounds as though a full-time MBA is the right choice. While I don't you think you should blindly set your financial considerations aside, there is plenty of evidence that points to a stronger ROI, especially from top 10 programs. The first question you need to address is what is your short-term goal? Once you've landed on a clear, specific goal, ask yourself how do you plan to obtain this goal? Is your current network and experience strong enough to land you a role at a firm of your choice? If not, a top tier MBA at the right school will certainly help you get there. Feel free to drop us a line or sign up for a free consultation to discuss how to tackle your decision. Also, feel free to check out our free resources to get you started for your R2 preparation should you decide to apply. Best of luck this season!

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heyivy: Newbie | Next Rank: 10 Posts; Posts: 3; Joined: Mon Oct 19, 2015 8:21 am

by heyivy » Sun Nov 01, 2015 7:28 am

Hey Steven,

I think you may find it really helpful to speak with current MBA students or recent alumni that share a similar background and career goals. When I was applying to business schools, I found it extremely helpful to have these 'coffee chats' to make sure an MBA aligned with my long term goals.

I launched HeyIvy.com to provide this service to prospective students that don't have contacts at business schools for this type of casual, unbiased advice.

We recently helped a medical researcher figure out that an MBA wasn't right for her career goals, and now she is focusing on pursuing an MPH along with her MD.

Thanks,
Tim

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Michael@VeritasPrep: Master | Next Rank: 500 Posts; Posts: 380; Joined: Wed Aug 19, 2015 9:49 amFollowed by: 7 members; Thanked: 13 times

by Michael@VeritasPrep » Sat Nov 14, 2015 4:37 pm

Also, I wouldn't worry about cost too much at this point. Most students who get their mba end up getting student loans to cover the cost. Typically business school students are a good bet for lenders? Why? They graduate in just two years and end up making very good salaries. There are also tons of scholarship opportunities out there. Don't limit yourself based on cost just yet.

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