[misanthrope87]

Since I love torturing myself, I’ve been thinking about pursuing an MBA in a top 20 school. But then…I saw the prices. The 2 top 20 schools nearby cost 100k for the entire program. I find this to be completely ridiculous. It’s not as if I’m going to be guaranteed a high paying job. I’m not gonna be a pharmacist or doctor making few hundred thousand in a year…Even if my employer were to reimburse a portion of my schooling, it just doesn’t seem feasible. I could go to one of the local cal states which are much more affordable, but that seems like downgrading in comparison to the school I went to for an undergraduate degree. Any thoughts?

B 2/12 87
A 11/11 90
R 8/11 86
F 5/12 88

[katiekanton]

I'm really confused. You guys are talking about student loans as if they're an option–your own decision. I was under the impression that admissions officers and bursars at America's colleges and universities were coordinating stealthy attacks involving cages, ropes, and threats of deadly harm to students' family members in order to force students to sign up for student loans.

AUD - 88
FAR - 90
REG - 85
BEC - 88

[Anonymous]

@misanthrope87: I think you misunderstood what I said. I didn't mean “cheap” as that's the school's name. What I mean is that there are MBA programs from schools who's cost/benefit ratio is out of line.

Let's look at the Chicago area. There are two Ivy's here: Northwestern and U of Chicago. If you can get in either, yes, go for student loans and work your tail off to graduate. See if you can get a TA position to help with tuition. Ivy league degree = your employment prospects are excellent.

Now if those two schools are not an option, then go for any program that allows you to graduate with no or minimal student loan debt. I'm NOT paying $100K for some school's MBA when I can go to NEIU or Chicago State U for $10K/year. Why enslave yourself for a piece of paper which doesn't give you excellent employment prospects?

Too many private schools have huge price tags but their degrees don't deliver the value. All you wind up with is six tons of student loan debt and a nice piece of paper. But a job that will pay enough to pay the loan back? In this economy? Are there not enough sob stories of students with six tons of student loan debt unable to find a job?

Either Ivy League or cheap. This is what is necessary to survive.

[Minimorty]

The last time I checked, neither northwestern nor u of Chicago are “Ivy.” great schools though.

MBAs are generally not worth it. Your time and money is better spent elsewhere.

[Anonymous]

I agree 100% with bobkorz….

I went “cheap” and while I'm stuck with a $500 a month college loan payment now, the job I obtained because of this MSA degree has easily allowed me to afford it. It's all about cost vs benefit. There's “the best” and there's everybody else…. If your not going to go Ivy then you might as well go with the most cost beneficial school cause it's not going to make a difference what you paid per credit hour when you get hired. The benefit with going Ivy is being secure with the prospect of ending up with the best possible opportunity (no guarantees in life) to land that dream job.

[misanthrope87]

@bobkorz, @dtomasello

The schools I'm thinking of aren't Ivy League, but they're still in the top 20 and its really recognized around here. However, I still don't think the 100k price tag is worth it even though the names are shiny and nice. =/

B 2/12 87
A 11/11 90
R 8/11 86
F 5/12 88

[Anonymous]

I don't know how people are able to get an MBA or any other kind of degree from an Ivy School. Unless you're Bill Gate's son or mistress, it does not seem feasible to me..lol..

With that being said my boss went to Kellogg SOM for his MBA and to Harvard for his law degree. Sometimes I feel like asking him if he's still paying off his loans..lol.

[Anonymous]

@Minimorty: “The last time I checked, neither northwestern nor u of Chicago are “Ivy.” great schools though.”

They are both top schools and that's what I mean by “ivy league”

@misanthrope87 : “The schools I'm thinking of aren't Ivy League, but they're still in the top 20 “

Which schools in Chicago are you thinking about? If it is not NW or UofC, then go to NEIU, Governor's state or Chicago state for best ROI. Those are the cheap schools.

It is not worth $100K at a second rate (non-Ivy) school.

Either Ivy League or cheap. $100K in student loans are unpayable if you're unemployed.

Employers see schools this way: Top schools or blah.

It is not worth enslaving yourself for a school that may not work for you. Understand that a MBA has no Thesis and schools are giving them out left and right, so they've been severely diluted. Don't overpay for something you can get cheaper elsewhere.

[misanthrope87]

@bobkorz

I was thinking of ones in CA. Like UCLA (Anderson).

B 2/12 87
A 11/11 90
R 8/11 86
F 5/12 88

[Anonymous]

@misanthrope87: Shoot for Stanford if you can. Otherwise, just go cheap. If you can get a graduate RA or TA job at UCLA-Anderson, go for it – they'll at least waive your tuition. Otherwise, 100K is not worth it.

[Jay]

Hey peeps, I graduated from an online program MSA and it cost me 11000 including books and fees. Liberty University. Their online program was challenging, professors were tough and inspiring. It improved my job prospects. I was told in undergrad to get your degree as cheaply as possible. Maryland CPA candidate

FAR-TBD

REG-TBD

AUD-TBD

BEC-TBD

Ingram CPA Review, The Best, Wiley Text.

[bighitter56]

As a current MBA student I will weigh in…

I would HIGHLY recommend to not enroll in an MBA program due to the fact that you do not like your current set of options. (Unless you are going to a top school) Pursuing an MBA is very costly and more importantly, time consuming. In my opinion, your time will be much better spent gaining work experience to build your resume and/or obtaining professional designations. Top 10-25 Business Schools (applicable to law schools as well) will likely be a wise career investment, but is by no means a guarantee. However, for the vast majority of schools the MBA or JD programs are nothing more than a cash cow and leave you no more employable than you were before you arrive (only more desperate being you are now in further debt and older with the same amount of work experience).

BEC- 86
AUD- 96
REG- 83
FAR- soon hopefully

Using Wiley CPA Review Books and 2012 Wiley Online Test Bank
MBA in Finance & Strategy

[Anonymous]

I have an MBA and I do not think it is worth it.

If you could get into an Ivy school then fine, if not do not do it.

Go to law shcool.

[Anonymous]

I think it depends on what you're doing with your career.

If you're in the tax field, I'd rather consider a MBT or MST. I don't think a MBA is going to help you provide tax and accounting knowledge to your clients. You can probably provide business management knowledge, but that's not really why they hire you. It can be an extra service you provide, but your main service is taxes/accounting/audit.

Personally for me, I'm done with my CPA exam and I honestly don't think what I learned is able to give me the knowledge to provide knowledge. CPA exam test's you on a lot of basics of advance accounting topics. I'm considering a Masters in tax to further advance my knowledge outside of on the job training.

[Anonymous]

@cpa222: I disagree. DO NOT GO TO LAW SCHOOL. Unless you are a T14 (top 14 school) and top 10% of your class. Otherwise, you wind up with $200K in debt and doing “coding” – at $20/hour. Or other really horrible jobs.

Google “sh*tlaw” and you'll see how bad the law job market is.

[Author]

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