MBA Not So Good After All?
 

He completed an Executive MBA programme at one of the world's most prestigious business schools - University of Chicago GSB.

Though he did it part-time and in the Singapore campus (I gather), it should not be too much to ask for at least a reasonable return on his S$124k investment.

Yes, he spent S$124k (US$90k) on this EMBA programme.

He wanted a mid-career switch from a high-tech MNC firm to the seemingly more lucrative management consulting industry.

What did he get in return?

Well, he got his mid-career switch. But he had to take a 25% pay cut. And he got into a junior position.

The 38-year-old Mr Loh has to start from the bottom, after trading his high-tech career and spending a fortune.

So, take all the nice reports and rankings of MBA programmes with a pinch of salt. The figures for "return on investment" and "payback in N years" are perhaps just too forward looking.

Or maybe you should not take EMBA if you want to switch careers. 

Mr Loh's story is reported in the Straits Times yesterday (link).

http://www.salary.sg/2008/mba-not-so-good-after-all/

1360
 

IMHO, e it GSB,Chicago or Wharton or whatever. End of the day without a plan no school or degree can help. In fact going to Biz school should be evaluated based on ROI and if no ROI no point doing that.If a person can get double the pay just because he/she from GSB then we'll see much bigger q than cheap sales infront of GSB/Insead

1361
 

From what I see, Mr Loh is not making enough friends in his school. While going back to school to gain new knowledge, Mr Loh should making new friends and build new connections (guanxi) with his Executive-level classmate.

With this, he can get help from the connection, to pull string to push up his careers.

1363
 

The tradition education system(pri=>sec=>tertiary) is already way old dated and should be overhauled. Today education means attending seminars, specific intensive short courses and training, specific certifications, boot camps and tons of book readings and research.

The person who insist on going thru the old way of educating oneself is doomed to be paid ordinarily. Remember, the professor who teaches you in university most probably isn't a millionaire.

1366
 

Any MBA from any school is pretty much the equivalent of a glorified vocational diploma with the icing of prestige on the top. You don't go to Business School for the MBA, you go to make friends.

1373
 

I agree totally with hanneng. It's well-known that the whole point about MBA is the guanxi. Unfortunately, a lot of people especially in the tech industry thinks that MBA is about studying their behind off to absorb knowledge only. Geeking out only guarantees you poor ROI for MBA.

1414
 

what a ridiculous subject. What exactly is the ROI of a MBA?

It is basically the knowledge, the diversity of working with multicultural team mates and many projects with tight deadlines.

In a way, i believe MBA is important for someone who has worked maybe 5-10 years and felt stagnant where he/she is.

Yes, the "guan xi" is important as most of the pple taking a MBA are either top executives or Future managers-to-be.Building up a good network from there, can expose you to many more opportunities than you thought there are.

However, thinking and EXPECTING incredible to happen after MBA is not that desirable as well. Most of the MBA graduates feel that they're different from everyone else.

Plesae.. You're still human.

1444
 

basically, to get an MBA is to learn additional knowledge for you to have a chance to attain a top management position. Whether could you get a good position depend on how good you can apply your knowledge to work. You may start a low pay but if you have the potential, very soon , you will reach your mark.

1455
 

the mistakes that 'Mr Loh' made were:

1) he used an EMBA for a career switch. EMBA was never meant for a career switch. If Mr Loh wanted to change his career, he should have taken a full time MBA program when he was much younger.

2)he restricted his search to Singapore. Frankly, why bother to study in GSB (Chicago), if the plan is to work for a consulting firm in Singapore? If the person is not prepared to relocate or make sacrifices (being away from family etc), why study in schools like Chicago?

1503
 

i knew of friends that got MBA but still work in government sector. Cannot understand as i think is a waste of money and time. The theories and knowledge learnt cannot be applied there ! They should study Master of Public Administration if want to stay forever in the Civil Service.