Which type of MBA is best for me?

Figure out where you wish to apply
This topic has expert replies
Junior | Next Rank: 30 Posts
Posts: 12
Joined: Mon Jun 29, 2015 6:46 am

Which type of MBA is best for me?

by amrutha_r » Sat Jul 11, 2015 5:31 am
Hi,
I have done my bachelors in engineering ( information technology) and have about 10 years of experience with a top IT consulting firm. I am currently working in a project management
Role.




My career goals:

1) Fast track my move up the ladder to senior management positions ( within or outside the current industry) for both career and monetary benefits.

2) I would like to major in generic management such as business strategy/corporate strategy/marketing such that I preferably have a wider scope of employment opportunities not restricted to any specific industry




Questions:

1) I am currently making around $120k a year and looking to make around 180-200k after an MBA/EMBA from a top school...is this realistic?

2) As I have 10 years of exp, I was initially thinking of an EMBA. However on doing some research, it seems that may not be very suitable if I am looking for a career switch.Is this true? Also I am not expecting any employer sponsorship. If I do a regular MBA, I would like to do a fast track one year as It may not be financially possible to stay out of work for 2 years ( with 2 kids under 5 :-) ). Which MBA is right for me?

3) As I am currently making 120k and could make up to 150k with a job switch etc., is it really worth the time, effort and money to do an MBA given the fact that I understand it will definitely take my overall personality to a different level?

GMAT/MBA Expert

Master | Next Rank: 500 Posts
Posts: 309
Joined: Sun Jun 21, 2015 6:19 am
Thanked: 39 times
Followed by:11 members

by Alexbr@ClearAdmit » Sat Jul 11, 2015 3:11 pm
think of the MBA as its impact on you for the long run, not just the first pay scale out of the program. One year FT programs in Europe might be a good option. cheers, alex
New Book! Becoming a Clear Admit: The Definitive Guide to MBA Admissions. https://www.clearadmit.com/products/admi ... dmissions/

Junior | Next Rank: 30 Posts
Posts: 12
Joined: Mon Jun 29, 2015 6:46 am

by amrutha_r » Sat Jul 11, 2015 3:21 pm
Thanks Alex..I understand that the MBA would have an overall impact on my career however Could you give me an approx comparison of my payscale 10 years from now post MBA and without MBA assuming that I complete my MBA within the next 2 years ?

Also are there any good one year options here in the US?

GMAT/MBA Expert

Master | Next Rank: 500 Posts
Posts: 309
Joined: Sun Jun 21, 2015 6:19 am
Thanked: 39 times
Followed by:11 members

by Alexbr@ClearAdmit » Mon Jul 13, 2015 5:28 am
sorry, I would be completely guessing, re: pay 10 years out. I also think quality of life issues does go beyond just a pay cheque. I think there are 1 or 2 top programs that offer a 1 year version (does Kellogg?) but the Euro schools have been doing that much longer. cheers, alex
New Book! Becoming a Clear Admit: The Definitive Guide to MBA Admissions. https://www.clearadmit.com/products/admi ... dmissions/

Junior | Next Rank: 30 Posts
Posts: 12
Joined: Mon Jun 29, 2015 6:46 am

by amrutha_r » Mon Jul 13, 2015 5:57 am
Thanks Alex.
Yes I think Kellogg does.
I am particular about USA because my family is here( husband and 2 kids under 5) and I also have a job here. So it would be difficult to relocate to Europe.

GMAT/MBA Expert

User avatar
Legendary Member
Posts: 1088
Joined: Thu Apr 18, 2013 3:29 pm
Thanked: 171 times
Followed by:52 members

by CriticalSquareMBA » Wed Jul 15, 2015 8:24 am
Hey there - have you considered a part time program? You don't have the same opportunity cost and you can still potentially explore career shifts (albeit a bit more difficult). It's an option if you live in a city with good schools! One year programs make job switches difficult too so keep that in mind!
Critical Square | MBA Admissions Services

Web | Facebook | Twitter

Sign up for a free consultation today!

We love helping! Was this post helpful to you? Thank us and let me know!

Junior | Next Rank: 30 Posts
Posts: 12
Joined: Mon Jun 29, 2015 6:46 am

by amrutha_r » Wed Jul 15, 2015 8:34 am
Thanks for your response.
Would part time MBAs have the same ranking/rating compared to an EMBA or full time? I have been looking at NYU Stern..can you also suggest other good schools which hav a good part time program??

Also would a part time from NYU be on par with a full time/ EMBA from the same school?

Does Columbia have part time?

User avatar
Junior | Next Rank: 30 Posts
Posts: 10
Joined: Mon Jan 19, 2015 3:05 pm

by SDHoost » Wed Jul 15, 2015 9:19 am
If you're thinking in terms of the top schools, the reality is that most of them aren't offering PT MBAs. One that I've seen get a lot of positive press is Kenan-Flagler at UNC, and Kellogg is obviously a terrific program as well.

Given your background, you might get your best answers from colleagues. If you're able to network with people who have the jobs that you're interested in, they'll be able to talk more intelligently about part-time vs full-time MBAs and what advantages they offer.

When it comes to a full-time MBA, you probably ought to talk to an admissions person as well. You've got a lot of work experience and it's rare to see the top full-time MBA programs take in older applicants. As I understand it, they're really driven to make sure that their MBA candidates will be extremely easy to place into a job upon graduation, and the reality is that most companies that are hiring from MBA programs are not looking for the person with all of that experience.
Having said that, there's a huge difference between "it's rare" and "it doesn't happen"; it does happen, and if you find the right school there's no reason you can't enroll full-time and reap the benefits.

One final thought: It is true that full-time MBAs are the best way to change careers; however, you did say that your #1 goal is to fast track up the ladder. That's almost exactly what the EMBA was designed to do.

Junior | Next Rank: 30 Posts
Posts: 12
Joined: Mon Jun 29, 2015 6:46 am

by amrutha_r » Wed Jul 15, 2015 9:58 am
Thanks a lot for your detailed response.
It looks to me that probably EMBA would be a good fit for me. I will contains nue my research..

Also any insight on the ROI that I have mentioned in the post?

User avatar
Junior | Next Rank: 30 Posts
Posts: 17
Joined: Sun Feb 23, 2014 10:42 pm
Thanked: 1 times

by shitalpagare » Sun Jul 26, 2015 9:11 pm
What are the best colleges for an MBA in finance ?

GMAT/MBA Expert

Master | Next Rank: 500 Posts
Posts: 309
Joined: Sun Jun 21, 2015 6:19 am
Thanked: 39 times
Followed by:11 members

by Alexbr@ClearAdmit » Mon Jul 27, 2015 3:24 am
Wharton is probably considered the best for Finance, Columbia would be up there too. cheers, alex
New Book! Becoming a Clear Admit: The Definitive Guide to MBA Admissions. https://www.clearadmit.com/products/admi ... dmissions/

User avatar
Junior | Next Rank: 30 Posts
Posts: 10
Joined: Mon Jan 19, 2015 3:05 pm

by SDHoost » Mon Jul 27, 2015 4:54 am
To expand on that:

Wharton & Booth are generally considered the top "Quant" schools. If you want to be an expert in Finance and truly understand the bones of how Finance works, you'll find no better place to learn than these schools.

If, however, your goal is to be on Wall Street (certainly one of the most common goals for a Finance person), your best option is usually to get an MBA in New York at either Columbia or Stern.