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27-04-2008, 01:18 AM
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1528
I'm taking an MBA now. Basically, before taking any course U should calculate your ROI. How much increment do U expect to get after your MBA?
If U're taking a $124K MBA, calculate how long would it would take for you to recoup back that money based on the increment U'll get after this. If your increment after the course is only $1K, then it would take U 10yrs to get back your investment. And U're lucky if U get a $1K increment, most Singapore companies are not willing to pay that much.
Perhaps it's better to take a cheaper, yet still accredited MBA. Somewhere along the range of $20K to $30K. Then it would take U only 2yrs to recoup back the investment if your increment is $1K. There's a few unis here which has accreditations like EQUIS, AMBA & AACSB and yet costs less than $30K.
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05-05-2008, 08:05 PM
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1598
there is no such thing as a risk free investment. Investing in an MBA, any MBA, always entails a risk. At the end of the day,it is really up to you. It is the same with your basic degree. Some make it big with a basic degree, some don't. I encourage, anyone who is doing an MBA to think big and challenge yourself. Move out of your comfort zone and if given the chance, work overseas.
some points for anyone interested to do an MBA to consider:
1) if you do a 20k and 30k MBA in Singapore, the marginal gains will be minimal but I suspect it is a safe bet. Most will not see great increase in salary but the skills and knowledge you learn will come in handy in your personal and professional life in the future. It is really up to you.
2) if you want to take risks and venture beyond the shores of singapore, I suggest doing an MBA at CEIBS (in shanghai) or Cheung Kong MBA at roughly the same cost but based out in shanghai. pay in china these days are comparable or if not higher than singapore. however, I don't see many singaporeans venturing outside of singapore. Post MBA,landing a job in China is better than doing an MBA in Singapore. The average pay of a good associate in China in the finance sector is about 80k US$.
3) if you can afford it, do it in Harvard, MIT, Insead etc. the ROI varies, but the average starting pay is still US$100k excluding sign-on bonus. however, you still need to get out of singapore and prepared to work abroad.
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22-05-2008, 02:09 PM
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1709
I find the topic relevant and the discussion interesting.
I think most working professionals aspiring to take up an MBA (whether full time or part time) will consider the RoI part of it - why would you invest so much time, money and effort if you can't recover the investment within a reasonable time-frame and ofcourse improve your career path - the higher the course fee the more homework you need to do.
Networking is just an added advantage of going for any course - which you must utilize - but it is not the only reason for going to the classroom. Most of us who haven't done an MBA (and are not at a senior management level) donot have an allround knowledge of the Business to be able to run it - an MBA should equip you with the skills and competencies required to reach a Senior Management position and also provide an opportunity to develop your soft skills. The industry recognizes someone who has done an MBA from a reputed school as one who is trained and capable of taking qualified Business decisions and understand corporate strategies.
The case above was unfortunate - but if the person is smart and has learnt the management skills, have the industry knowledge and has developed his soft skills he should be able to quickly revert to his old position and income and exceed that.
Eventually an MBA is only as good as the person taking it up.
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28-05-2008, 03:42 AM
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1786
An MBA is not a magic wand, but it's a good advantage in today's business world. I was an engineer earning peanuts previously, did an MBA 2 years after work at 27 years old, and now working in the finance industry earning a multiple of my previous salary. The important thing to note is when you do your MBA, if you do it when you're 30 to 40, you're probably too old to maximize the advantage of an MBA. The average starting salary of an MBA is about USD 100k, so the lower your pre-MBA the more advantageous it is! If you have a high starting salary and you do an MBA, you're probably short-changing yourself in the end due to opportunity costs and a marginal increase to your pre-MBA salary.
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03-06-2008, 10:28 AM
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1836
I need some advice. My friend, who is 43, is pushing me to do the MBA with her because she said that she wants to get back into the work force. She was working in the fashion and fabric industry until about 13 years ago when she became a housewife. I am 36 and I have been in advertising my entire working life; I love my job and I don't see the need for me to have an MBA. But I think she just wants some company and has nobody else to ask along. I totally agree that it is more about making new contacts from top tier big bracket blue chip companies. The more expensive it is, the more one can hopefully benefit from one's classmates. What is the best advice that I can give her? Other than to tell her that I don't need it? And perhaps, neither does she? Thanks lots.
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03-06-2008, 11:59 AM
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1840
Dear Hesione,
I would not advice your friend to take the MBA first. She should get back into the working world first before doing her MBA. A lot of people thinks that an MBA is like a magic pill which will solve all career woes. Taking an MBA to get back into the working world is like those full time students who have never worked before taking an MBA right after their degree. No company would employ an MBA holder with no working experience. Even if they do, it'll be at a degree-holder pay rate.
That's why most MBAs require a minimum of 2-3yrs working experience to add credibility to their MBAs. Most assignments in MBAs would require U to include your working experience or relate the assignments to the company U're working for. So without a company to relate to or experience to bank on, the assignment would not carry any weight. FYI, I have a degree-holder friend who took 5yrs off to bring up her kid. Now she can't seem to find a job at all. Your friend has taken 13yrs off. It's gonna be very difficult to get back into the industry esp since the fashion industry is ever-changing. And an MBA is certainly not gonna make this transition any easier for her. She might have to start from the botton rung and climb her way up the corporate ladder again.
P.S. These "top tier from big bracket blue chip companies" knows that a lot of people are targetting them in class. They would not give U a job just cos' U're their classmates.
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03-06-2008, 08:22 PM
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1842
Hi Sabrina, thanks so much! I will try and tell her to get a job in the fashion and fabric industry first. She graduated from university and straight away worked in the industry for 8 years before settling down. Her plus point is, she was not in retail but in fashion manufacturing related type industry, i.e. very b-to-b, so she can try to slowly work her way into a junior management post, I think.
She may have been deluded into thinking that she needs to do this MBA from some of her husband's friends. Their advice may be right for certain candidates, but perhaps, not for her. Thanks again!
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16-06-2008, 02:40 PM
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1939
im 18 and just got out of high school and wanted to know if getting a MBA is worth the extra school
or could i make 100k or more a year with out it
thanks.
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