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Is it worth it? (MBA)

I have been living in Europe for the past 5 years, but only 1.5 have been spent working.  Due to the fact that I am in a new country and in a new career, I took an entry-level position.  In the past, I have been a store manager, in charge of up to 10 people, budgets, sales, etc.  

 However, I feel like I have really stalled in my career and that I'm really not going to get where I would like to be in my life. That is a manager of a department. 

With all that being said, I have been looking into getting an online MBA so I can continue to work (because I feel that work experience, no matter how entry-level, is better than just a degree!). Do you think it is worth it? It's a huge expense, and my company will not assist with that.

 

[Poll]

Re: Is it worth it? (MBA)

  • I'd say the cost makes it difficult to justify purely for a degree.  You can learn what is taught in business school on the job over time without incurring debt and building experience. One cavaet, if you pursue a top tier, traditional MBA it can absolutely be worth it, especially when you factoring the networking opportunities.
  • I just got my masters which my company paid half of and I was promoted upon getting a degree (so worth it for me to pay half). A LOT of students in my classes were going to grad school hoping it would help them get into a new industry/new job and it isn't working out that way in today's economy. You end up with a masters (which companies read as likely wanting to make more starting out) but have no experience in the new field. I would recommend getting an entry level job in the new field first, that you can work your way up in that will pay for some of your degree at least.
  • Most places I've seen really look for experience but if you have a higher degree than others, or the same, the experience will look even better.  Plus, some companies have pay ceilings for various degree levels.
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  • A lot of it really depends on which university you get your MBA from.

    DH is working on his through a state university, but there are a lot of scammy online MBA programs that aren't very well-respected.

    It sounds like you work in retail, correct? Having managed my own store myself, I don't think an MBA would hurt once you get back to a store management level. If you've managed your own store before, it should be too hard to get back into. I'd work on getting a store management position, then work on your MBA while you build your report with that company. They may or may not pay for your MBA, but your MBA (along with a great sales record and lots of company involvement) should help you get a district manager position down the line.

    If you're interested in a really great management career (this is not plugging!) The Buckle has a really incredible management program that really guarantees upward mobility if you're talented and dedicated. Their store managers make bank too (I was the Assistant there before I decided retail wasn't for me). They aren't international though (I think they're looking to expand into Canada and Europe, but they haven't yet).

    If I misread your text and you aren't working in retail, you can disregard all that!! Good luck, and don't waste your money at a bad online university! 

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