Getting MBA worth?

Originally Posted by Unregistered

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.

I don't trust surveys done by the schools themselves. SMU claimed its students are making 4-5k. NTU had one with 20k. Do you believe?

[dun_waste_time]

Originally Posted by mochi

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.

Thanks for the insight. I have been working in MNCs too, however i find opportunities hard to come by.

Maybe i just need to improve my networking skills.

It's more of a curiosity question on MBA and the public sector. I'm actually a little sceptical about those pay quoted by the universities.

Eventually, everything will depend on myself.

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Of topic, recently i saw this Masters of IT in Business (Financial Services) offered by SMU. Anyone from here graduated from this course?

Anyone can comment on the career services like provided by SMU?

INSEAD median salary S$150k: Believable since most MBA grads try for jobs at investment banks. A main reason for taking MBAs. Did they mention how many % of their post grad MBAs found jobs and how long did they take to find a job after graduation?

NTU/SMU surveys: The $10k a month is real but only about 1% of grads reach that kind of salary. This is the starting pay for Investment Bankers. (bulge brackets: Citi, Goldman, MS, CS, BOA/ML and a couple of others pay this to fresh graduates in 2011) $20k a month is not normal. Probably that fella applied for a job overseas and included his allowances such as housing etc. SMU claiming students making an average 4-5k: Seems high. Is this median or average? I would think the average for B&F is high $3k for 2011. NTU average is lower because their business school includes accountancy and auditors start at $2.4/2.5k per month.

My background: Local grad in 2007. Working in a bank. Would think my data pts should be pretty accurate.

Originally Posted by Unregistered

I don't trust surveys done by the schools themselves. SMU claimed its students are making 4-5k. NTU had one with 20k. Do you believe?

Originally Posted by Unregistered

I don't trust surveys done by the schools themselves. SMU claimed its students are making 4-5k. NTU had one with 20k. Do you believe?

I believe for insead. 150k base is well in ballpark, or even slightly below, what ibanks or consulting firms pay their newmba hires

Originally Posted by Unregistered

I believe for insead. 150k base is well in ballpark, or even slightly below, what ibanks or consulting firms pay their newmba hires

Not every MBA grad can get a high paying job. Averaging out, the average pay is probably 75k nia.

I had an uncomfortable and embarrassing experience regarding the value of the MBA that I had recently completed.

I was interviewing a candidate together with my boss and his boss. So, it was the three of us versus one interviewee. This interviewee had also recently completed his MBA. The uncomfortable bit was that he was my course mate and he was now effectively being interviewed to be my subordinate.

What really embarrassed me was that he carried himself very poorly during the interview. And when it came to salary, his words were, "er, around $4,000.... but negotiable." Clearly lacking in confidence and conviction. And at $4,000....? under-selling himself by too much. I was hoping that he would be requesting in the region of $6,000. Then I can go to my bosses to say, "See, the market rate for MBAs (without experience) are in that range. We need to review my package."

Needless to say, he didn't get the job and my boss and I never discussed the value of my MBA ever again.

Originally Posted by Unregistered

I had an uncomfortable and embarrassing experience regarding the value of the MBA that I had recently completed.

I was interviewing a candidate together with my boss and his boss. So, it was the three of us versus one interviewee. This interviewee had also recently completed his MBA. The uncomfortable bit was that he was my course mate and he was now effectively being interviewed to be my subordinate.

What really embarrassed me was that he carried himself very poorly during the interview. And when it came to salary, his words were, "er, around $4,000.... but negotiable." Clearly lacking in confidence and conviction. And at $4,000....? under-selling himself by too much. I was hoping that he would be requesting in the region of $6,000. Then I can go to my bosses to say, "See, the market rate for MBAs (without experience) are in that range. We need to review my package."

Needless to say, he didn't get the job and my boss and I never discussed the value of my MBA ever again.

Is it a local MBA?

Originally Posted by Unregistered

Is it a local MBA?

would you believe it if he answers Booth, Sloan or Wharton... of course it's SIM or NBS lah!

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.

... so if after reading the above, u r still keen, then please go ahead .

At least u r going in w your eyes open .

I was from a brand name uni as well, so believe me, the job search process is going to be similarly grueling wherever u go. Be prepared for that if u r looking to change industry pursuant to ur mba.