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Getting MBA worth?

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  #11 (permalink)  
Old 10-02-2012, 03:38 PM
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I totally understand how you feel and where you are coming from; I was at a similar cross-road 10years ago.

I think all the previous posts raised very pertinent issues. Just a few more thoughts:

1) Outside of financial institutions (IB, S&T) and consulting firms, it's generally the MNCs and the big local companies (even then, less so) who will compensate you for the MBA.

2) Therefore, have you considered doing your MBA outside of Singapore - where the market for such talent is broader and to be near the MNCs/ companies who will value your MBA. Also, they will recruit you to come back to Asia (if that is where you want to work)

3) However, given the current economic climate, getting a job in US/Europe/HK might be challenging. So you might want to consider delaying your MBA for 1/2 years

4) I will urged you to think of this as a "5-yr project". Beyond the 1/2 years that you will spend geting your degree, the remaining 3/4 years are when you "reap" the benefits and/or get the jump from getting the MBA. From speaking with people who had gone through this route, you will find the biggest delta you will get is the first few years. After which, its again down to how you perform. This is not to say performance/working hard is not important in the first few years, but just that that's when the degree is most useful in helping you open doors etc

5) As you are thinking of doing a mid-career switch, doing an MBA will be trememdously helpful as it acts as a "re-set button". However, be prepared for many rejections and have a good story to tell.

6) Network, network, network. Jobs rarely come to you. But you will be surprised what is out there/who is hiring once you start talking to people.

7) When the chips are down and things are rough, always remember - you only need one person to see your talent, one person who believes in you, and one person who will give you an opportunity.....ONE job (though it will be nice to be armed with nth number of offers). So do not be despair (and I assure you there will be many moments during this journey when you will question why you went down this [email protected]!)

Lastly. Be clear headed. Be very sure why you are doing this and what you want to get out of this. Have a plan, do not look back, and GO. good luck.

Thanks Bro, really appreciated.

Actually that's roughly my plan too. i'm looking at doing my MBA during the year 2013. When the economy is not doing well, the best investment you can make it to yourself.

It'll give me sometime to prepare for the financial commitments during my year of study. Thanks for the insight. I guess there will definitely be times whereby i would think to myself whether all these is worth it.

To most of us, including myself, is to lead a better life. Striving for better pay. To me, it's also really to challenge myself to see how far i can go.

Thanks for all the input.

Just another question, really out of curiosity, cause i'm been reading alot in this forum. Does anyone taken the MBA and go into civil service? What are the prospect?

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  #12 (permalink)  
Old 11-02-2012, 09:58 PM
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I went to insead. If you can get in, go for it. Reasonable to expect to double your salary or more coming out, but no "guarantee" - like everything else, you have to work hard at making a career switch

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  #13 (permalink)  
Old 11-02-2012, 11:42 PM
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MBA is useless, unless you know how to network. If you know how to network, you don't need an MBA. ") Don't waste money.

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Old 11-02-2012, 11:43 PM
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I went to insead. If you can get in, go for it. Reasonable to expect to double your salary or more coming out, but no "guarantee" - like everything else, you have to work hard at making a career switch
Who owes you for a living? Double your salary? Joke
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Old 12-02-2012, 12:02 AM
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Quote:
Originally Posted by dun_waste_time View Post
Thanks Bro, really appreciated.

Actually that's roughly my plan too. i'm looking at doing my MBA during the year 2013. When the economy is not doing well, the best investment you can make it to yourself.

It'll give me sometime to prepare for the financial commitments during my year of study. Thanks for the insight. I guess there will definitely be times whereby i would think to myself whether all these is worth it.

To most of us, including myself, is to lead a better life. Striving for better pay. To me, it's also really to challenge myself to see how far i can go.

Thanks for all the input.

Just another question, really out of curiosity, cause i'm been reading alot in this forum. Does anyone taken the MBA and go into civil service? What are the prospect?
I am sure this MBA stage is something which every mid-career professional goes through. You may find this useful.

My opinion is that a MBA helps your "boss" to push you up. What this means is that you must already be of a certain "calibre" or performance, and in putting up your promotion recommendation, your MBA fulfils one of the item on the "checklist", which allows them to discuss other areas such as leadership/management capability etc.

A MBA is definitely something good to have, not a need. However if the money and time spent can alternatively be put t better use in volunteering for a major company project, personal business venture etc, the MBA can wait.
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Old 14-02-2012, 04:03 PM
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i'm looking at doing my MBA during the year 2013. When the economy is not doing well, the best investment you can make it to yourself.
A lot of people are also thinking this way which makes it more competitive to gain entry to your choice business school when the economy is weak. Conversely when the economy is on a bull run, business schools go out to woo prospective students. And even going as far as re-working(shortening) the curriculum to attract students.

I completed my MBA in a local uni and I say it is worth every cent. In addition to gaining a more structure way of tackling problems (which is an attraction to consultancies), the biggest value has been the career services that the uni provides. The kind of industry links and career doors that the uni opens in are sometimes just not assessable to most folks.
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Old 15-02-2012, 10:12 AM
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I work in an IB and there are two ways to get to associate level. Either join as an analyst with a bachelor's degree, work 3 years to associate. Or, get a MBA and join as an associate.

Here's my take on MBA:
1. Useless to take MBA unless you take it at a reputable institution. SMU/NTU are lousy MBAs. Insead is good.
2. Networking, internship and placements are the key benefits of a MBA.
3. From a monetary standpoint, I would argue that the costs of the MBA outweighs the incremental income you receive out of it. You need to factor in the 1 (or 2) years of lost earnings/lost progress/ maybe lost promotion
4. MBA makes more sense in a booming economy. In a downturn, MBA maybe even be detrimental. Firstly you are out of workforce for 1year. Secondly, employers tend to cut MBA hires in downturn rather than undergrad hires. Thirdly, getting a MBA may make you seem overqualified for the lower entry jobs (even if your value to the firm is not much different vs a fresh grad)

To finish off, I'll sum up with some real life experience:
1. My firm takes in about 15-20 MBA hires across the region each year. Recently, there seems to be an oversupply due to weak conditions in EU and UK. Lots of qualified labor in the market
2. Only take MBAs from reputable schools.
3. Pay: Base US$120k p/a, exclude bonus. This is similar to what non MBAs get paid after 2 years of working.
4. I myself didn't take the MBA path.
5. Doesnt affect future progression in the firm. Whether MBA or not, once you get in you are evaluated on par with the rest - by job performance


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Old 15-02-2012, 04:05 PM
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Originally Posted by dun_waste_time View Post
Thanks Bro, really appreciated.

Does anyone taken the MBA and go into civil service? What are the prospect?
you got to look into improving your grammar if you hope to do well in your gmat to gain admission into Insead.

if you want to go into civil service, there is no need to do an MBA. In fact, it might be better to go in now, spend a few years there, do well and get the employer to pay for your EMBA in a good school later.

going to civil service with a good MBA is a waste of your investment. Better for you to do a local program. If you are prepared to spend money to do an international program, you got to cast your net wider and be prepared to work overseas or go for international opportunities. If you don't have the ambition and drive, don''t waste the money.
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  #19 (permalink)  
Old 15-02-2012, 10:28 PM
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I find your situation to be quite similar to mine. I am a year older than u and I started doing IT - programming and start then moved on into Project Manager. As I was interested to help business grows, my boss shifted me into Business Development and doing Project Management concurrently. Eventually I made a job switch last year and I'm doing Business Strategic Planning and Consulting work in a large MNC now.

MBA can be an avenue but essentially what you are seeking is a career switch. Find your specialisation and see whether is it possible to facilitate a switch - using what you have instead of throwing it all away.

To go into Strategy, you will need to be a good communicator, be meticulous and be able to use many management tools. When I first entered into strategy initially, it was not easy. Many people doing strategy are those in senior management and it requires a different mode of thinking - Systematic Thinking. Many consulting and strategic tools are used and it's essentially it is about using the brain. Thus, you must be able to see the big picture while being grounded at the same time and envision economics, business, operations and a series of business synergies together.

Anyway, I'm also doing a part-time MBA now but I believe it is not MBA that helps me get my job. It is being be able to write good resumes to attract their attention, sell yourself effective during interview and do well during the first few months. Need hard-work.

As we get older, the opportunity cost become higher. It is not worth doing full-time MBA considering the opportunity cost.


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  #20 (permalink)  
Old 15-02-2012, 11:44 PM
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Who owes you for a living? Double your salary? Joke

http://mba.insead.edu/documents/MBA_...STATISTICS.pdf

Median salary right out of insead if working in singapore : about 150k. This is base salary only.
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