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Getting MBA worth?

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  #31 (permalink)  
Old 21-02-2012, 10:49 PM
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I am from a local uni MBA. Took it part time (3 years to complete).

Pre MBA - S$8k
Post MBA - S$12k
Now, 3 years post MBA - S$17k

I did not change my job throughout the 6 years. I just have a good boss and MBA does help me frame my thoughts in handling issues at work.

Overall, it is a good investment as long as you can make the most out of it.

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  #32 (permalink)  
Old 22-02-2012, 08:25 AM
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I am from a local uni MBA. Took it part time (3 years to complete).

Pre MBA - S$8k
Post MBA - S$12k
Now, 3 years post MBA - S$17k

I did not change my job throughout the 6 years. I just have a good boss and MBA does help me frame my thoughts in handling issues at work.

Overall, it is a good investment as long as you can make the most out of it.
The key Qn for prospective mba students is how much of the pay rise above is directly due to the mba, & how much of this is due to normal career progression (ie 1 or 2 promotions in 6y) + normal pay increase (ie finance professionals in many had foreign banks saw a significant increase in base pay as political pressure on bonuses ratcheted up in 2009 - 10).

Reality is that most employers in singapore do not pay meaningfully extra if their existing employees get an mba. Indeed for many companies, unless they r sponsoring u 4 an emba, do not view an employee doing a 3 yr part time MBA (and leaving office early many a day) in a positive light.

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  #33 (permalink)  
Old 22-02-2012, 11:32 AM
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Originally Posted by Unregistered View Post
The key Qn for prospective mba students is how much of the pay rise above is directly due to the mba, & how much of this is due to normal career progression (ie 1 or 2 promotions in 6y) + normal pay increase (ie finance professionals in many had foreign banks saw a significant increase in base pay as political pressure on bonuses ratcheted up in 2009 - 10).

Reality is that most employers in singapore do not pay meaningfully extra if their existing employees get an mba. Indeed for many companies, unless they r sponsoring u 4 an emba, do not view an employee doing a 3 yr part time MBA (and leaving office early many a day) in a positive light.
I agree. you raised an important point.
1) most people would prefer the 'safe' option of doing a local or part time MBA and hoping for recognition and huge promotion. Frankly the probability of that happening is remote. Most of the time that person is already a star performer and the MBA is an icing on the cake.
2) For those who are stuck or frustrated with current progression, taking this 'safe' option is ironically more risky because you become more frustrated. You complete an MBA which your current employer doesn't value and you end up leaving the company only to be viewed by prospective employer who sees this guy or gal wanting a higher pay just because of an MBA.
3) despite the risks, it makes sense to start afresh, do a full time program and switch industry. take it like a one to two year job search like what most of the previous contributors have mentioned.

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  #34 (permalink)  
Old 26-02-2012, 01:23 AM
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MBAs are good if u want to challenge yourself, learn more and network.
If the primary objective is to secure a promotion or higher pay, then there might be disappointment. MBA holders are very common now. What is more critical is your drive/attitude/aptitude and not forgetting your political skills in an MNC (very sad, but true). If your degree is in business/acct and you still do a local MBA, it might be a serious waste of time as well.

I completed an MSc in Economics just to challenge myself. It did nothing to my career, but I made some good friends along the way. Completed it part time at local U, but it did sent a signal to my boss/es that I had the drive + can handle both work and studies well. It was a tough 2 years.
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  #35 (permalink)  
Old 26-02-2012, 03:14 AM
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MBAs are good if u want to challenge yourself, learn more and network.
If the primary objective is to secure a promotion or higher pay, then there might be disappointment. MBA holders are very common now. What is more critical is your drive/attitude/aptitude and not forgetting your political skills in an MNC (very sad, but true). If your degree is in business/acct and you still do a local MBA, it might be a serious waste of time as well.

I completed an MSc in Economics just to challenge myself. It did nothing to my career, but I made some good friends along the way. Completed it part time at local U, but it did sent a signal to my boss/es that I had the drive + can handle both work and studies well. It was a tough 2 years.
i challenged myself to start a business on the side. it's more rewarding this way. just a different perspective.
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  #36 (permalink)  
Old 26-02-2012, 09:33 AM
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Quote:
Originally Posted by Unregistered View Post
The key Qn for prospective mba students is how much of the pay rise above is directly due to the mba, & how much of this is due to normal career progression (ie 1 or 2 promotions in 6y) + normal pay increase (ie finance professionals in many had foreign banks saw a significant increase in base pay as political pressure on bonuses ratcheted up in 2009 - 10).

Reality is that most employers in singapore do not pay meaningfully extra if their existing employees get an mba. Indeed for many companies, unless they r sponsoring u 4 an emba, do not view an employee doing a 3 yr part time MBA (and leaving office early many a day) in a positive light.
Acquiring a mba does not automatically increase your pay if your job-scope does not expand, or your job responsibilities do not increase. I got a masters in financial engineering in local uni, the hard skills acquired in the course gave me a opportunity to go quantitative role, and now in a regional head role in risk in foreign bank.

4k - Pre-Masters
6k - Upon graduation
20k - 6 years post-Masters

Initial investments of $15k (tuition fees at that time) + 2 years of diligent study = future higher cashflows in career is certainly worth it
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  #37 (permalink)  
Old 26-02-2012, 11:58 AM
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Acquiring a mba does not automatically increase your pay if your job-scope does not expand, or your job responsibilities do not increase. I got a masters in financial engineering in local uni, the hard skills acquired in the course gave me a opportunity to go quantitative role, and now in a regional head role in risk in foreign bank.

4k - Pre-Masters
6k - Upon graduation
20k - 6 years post-Masters

Initial investments of $15k (tuition fees at that time) + 2 years of diligent study = future higher cashflows in career is certainly worth it
But don't you think financial engineering is a little crowded now? The FTs also prefer to hire non-locals, if you know what I mean.

Did all your classmates do as well as you? Or are you the outlier?
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  #38 (permalink)  
Old 26-02-2012, 07:09 PM
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Acquiring a mba does not automatically increase your pay if your job-scope does not expand, or your job responsibilities do not increase. I got a masters in financial engineering in local uni, the hard skills acquired in the course gave me a opportunity to go quantitative role, and now in a regional head role in risk in foreign bank.

4k - Pre-Masters
6k - Upon graduation
20k - 6 years post-Masters

Initial investments of $15k (tuition fees at that time) + 2 years of diligent study = future higher cashflows in career is certainly worth it
Good for you but yours is very likely a far outlier case. Usually if u don't start out right post masters, it's very very difficult to right the career ship (which is why there is so much pressure to land the right role post masters).

Looking at the numbers, u were prob an avp post graduation, prob recently promoted to avp as its the low end of spectrum. At $20k, thats a well paid VP at a foreign bank (if $20k is base) or a low bonus VP (if it's all in comp). So effectively u had to get promoted at least 1x and move to a foreign bank, at the most difficult time in the financial markets in decades.

Possible but not an optimal example for prospective MBA students. Optimal decisions are not made on outlier data points.
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  #39 (permalink)  
Old 26-02-2012, 07:13 PM
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Probably some self advertisement from an MFE school.
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  #40 (permalink)  
Old 29-02-2012, 01:31 PM
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Here's my 2c worth...

Firstly, a MBA is:
- NOT an automatic ticket to a $150k job (salaries are self reported hence subject to selection bias)
- NOT recommended for folks not looking to switch industry & looking for a mid career break - too expensive and too much post mba job uncertainty
- NOT recommended if u don't get into a brand name uni - mid tier universities do nothing for ur job prospects
- NOT about knowledge about course material - its effectively a 2yr job search & its all about the strength of tge career office contacts (the valedictorian for my course couldn't find a job for 6 months )
- NO guarantee of a job - i know of a few insead graduates who were on long term internships for 6mths to a year after graduation because they couldn't find a job

I think an mba is worth it if u r keen to switch job and u land a slot in a top uni with good connections in the area u r keen on. And even then it's a crap shoot.

Reality is : the biggest key to finding a good job is graduating at the right time, something u hv no control of whatsoever. If u graduated in 2006 or 2007, u would hv 3 offers upon graduation on average . If u graduated in 2008, u r lucky if u saw one offer. If u are unlucky, u see the offer u signed earlier rescinded .

Then there's the job search process. If u r looking to switch into a glamour role like front office banking or consulting , get ready for the most demoralizing and unpleasant process of your life. And it lasts for 2yrs.

The first thing my career office told me when i said i was looking for a ibanking role was that my chances are between slim and none. The second thing they told me was to use any and every connection i had to beg and grovel for an internship in a bank. Then they asked me to cold email all the alumni in all the banks, to ask to meet for coffee so that they can tell me if there r any internship positions available.
Nice share.

I'm currently 25 yo, hav 1.5 years of experience in engineering. I'm tragetting MBA of overseas branded uni for a career switch. Can I know more about:
Other than Stanford Harvard Wharton etc, how can I judge if it is a top-tier uni, and how does the market value the MBA of that uni? Is it enough to judge by the global MBA ranking? What are the factors I can look into?
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