Mba
- Thread starter LoneWolf
- Start date
It confers status, but does little else.
Some of my friends who attended what is arguably Australia's best business school are pretty incompetent when it comes to making money for their employers. Although they are nice people - beats me why anyone would want to be hiring them
Some of my friends who attended what is arguably Australia's best business school are pretty incompetent when it comes to making money for their employers. Although they are nice people - beats me why anyone would want to be hiring them
I know several who have completed the course at Macquarie Uni & AGSM - no complaints from any of them.
For those at Macquarie it has been worthwhile, opened their mind to other ways of seeing and resolving problems. One in particular has applied alot of their learning to their business and found that it has strengthened their business from the ground up - implementation of targeted training for new recruits, improved recruitment processes, higher retention rates, more effective than previous direction.
However, if you aren't in a position to apply the learning then it is useless.
Course is structured in blocks of intensive face to face lectures - then heaps of self directed/group work away from the campus.
If you don't have a life, or don't want one for a couple of years - go for it.
For those at Macquarie it has been worthwhile, opened their mind to other ways of seeing and resolving problems. One in particular has applied alot of their learning to their business and found that it has strengthened their business from the ground up - implementation of targeted training for new recruits, improved recruitment processes, higher retention rates, more effective than previous direction.
However, if you aren't in a position to apply the learning then it is useless.
Course is structured in blocks of intensive face to face lectures - then heaps of self directed/group work away from the campus.
If you don't have a life, or don't want one for a couple of years - go for it.
I have an MBT which is similar but specifically designed for technology industries. In retrospect I wish I'd done the MBA as I've, for now at least, moved away from technology.
When I did it, 10 years ago, it helped me with ideas about how to give the organisation I was working for more structure and justify why I wanted to do so. I also got alot out of the accounting / financial management subjects. It helped me get a new job & cope in a much more formal environment. 50% of mine was paid for by my work & i would, both then & now, struggle to justify the cost myself. I didn't have a degree so came to it from a different viewpoint.
If you're in the right organisation / role and have the right support / mentoring available to you I believe you can learn most of it on the job.
When I did it, 10 years ago, it helped me with ideas about how to give the organisation I was working for more structure and justify why I wanted to do so. I also got alot out of the accounting / financial management subjects. It helped me get a new job & cope in a much more formal environment. 50% of mine was paid for by my work & i would, both then & now, struggle to justify the cost myself. I didn't have a degree so came to it from a different viewpoint.
If you're in the right organisation / role and have the right support / mentoring available to you I believe you can learn most of it on the job.
Tremendous waste of time and money unless you went to the likes of Harvard. Could've used that money to buy a house in Syd last year, and you would've doubled to triple your equity.
The most overrated, and useless course on the face of the earth.
The course contents are basically average at best, its merely a rebranded "general studies" course,
I have no idea why there is so much weight given to this course
Its almost as if people/companies are using it as some badge of honour
The course contents are basically average at best, its merely a rebranded "general studies" course,
I have no idea why there is so much weight given to this course
Its almost as if people/companies are using it as some badge of honour
That's what the author of this book reckons also
http://personalmba.com/
The title jumped out at me at an airport shop a few weeks back so I bought it. I've skimmed through it. The contents looks good to a not so business minded person like myself. It's in my (priority) to read stack.
Lucky Borders closed their doors or I would have a house full of "to read books"
If your work is paying for it, go for it.
Otherwise, if you're just doing it to 'upgrade your qualifications' or kill time whilst job-hunting, I wouldn't bother.
In the olden days (and by olden, I mean, a mere 5 or so years ago), you would have been considered over-qualified for many positions if you had an MBA.
However, it seems nowadays alot of people have MBAs so it's become 'normal' for people applying for entry-level office jobs (jobs that in the old, old days 10 years ago wouldn't even have been open to people who had degrees) to have them.
Otherwise, if you're just doing it to 'upgrade your qualifications' or kill time whilst job-hunting, I wouldn't bother.
In the olden days (and by olden, I mean, a mere 5 or so years ago), you would have been considered over-qualified for many positions if you had an MBA.
However, it seems nowadays alot of people have MBAs so it's become 'normal' for people applying for entry-level office jobs (jobs that in the old, old days 10 years ago wouldn't even have been open to people who had degrees) to have them.
The biggest critics of many of these courses are those who can't get into one.
An opinion that it is a 'general studies course' lacks the understanding of why someone would do the course and what outcomes the candidate is seeking to achieve.
I have a masters in something else, I dont need to do an MBA .
I did investigate MBA when I was choosing my masters, and it was and still is laughable about how much importance is given to something so general
I couldnt get into Law or Medicine in the first round of offers, I dont mock it. I didnt have what was required.
Like anything in life, I think the usefulness will depend on the person and what they do with it.
I have senior staff with MBAs that report to me, and wouldn't recognise a business opportunity if it bit them on the private parts.
I know others that would benefit greatly from this training, especially those with good industry specific skills and knowledge, but little experience in higher level management and strategy.
Have previously completed a Grad Dip Man myself, with only 4 more units for the MBA.
Decided not to follow on, but re-enrolled later to complete, but wasn't finding it useful or specific enough for the work I was (and am) doing.
Horses for courses.
I have senior staff with MBAs that report to me, and wouldn't recognise a business opportunity if it bit them on the private parts.
I know others that would benefit greatly from this training, especially those with good industry specific skills and knowledge, but little experience in higher level management and strategy.
Have previously completed a Grad Dip Man myself, with only 4 more units for the MBA.
Decided not to follow on, but re-enrolled later to complete, but wasn't finding it useful or specific enough for the work I was (and am) doing.
Horses for courses.
An MBA in itself won't land you any significant role, as pointed out there are many plonkers with them. Mate of mine who is late 30's and one tier below C level in a mid sized listed company has an MBA from AGSM and said as much. For him who already has an MSc, the MBA (company funded) is part of his career progression...problem is many MBA graduates don't have careers.
An MBA doesn't make you any more of a businessperson than standing in a garage makes you a car.
Its what you do with the skills learned that matters.
An MBA holds a lot of prestige - but usually only by those who have one, or want to have one. In days gone past they used to be difficult to get into, and harder to stay in. In order to complete the coarse you had to be fairly sharp. However, of coarse as they become more popular they have been dumbed down to a level barely above an undergraduate degree (if above it at all). They are rapidly being overtaken by Masters of Leadership Management (MLM) which is the MBA of days past.
So - while an MBA itself doesn't mean a lot it does enable people who are employing you to justify their decision. So in some cases they can assist.
Another difficulty with them is that they are a general coarse, so unlike technical degrees you don't come out 'qualified' as anything. EG - if you study accounting - you come out an accountant. Study engineering - youre an engineer. Do an MBA, well, your just a guy/girl with an MBA.
However, if you are coming from a technical background (ie engineering) and want to get into management, I think you would do well completing one.
If the company is paying for it, I think it would be worth the investment of your time.
Blacky
Its what you do with the skills learned that matters.
An MBA holds a lot of prestige - but usually only by those who have one, or want to have one. In days gone past they used to be difficult to get into, and harder to stay in. In order to complete the coarse you had to be fairly sharp. However, of coarse as they become more popular they have been dumbed down to a level barely above an undergraduate degree (if above it at all). They are rapidly being overtaken by Masters of Leadership Management (MLM) which is the MBA of days past.
So - while an MBA itself doesn't mean a lot it does enable people who are employing you to justify their decision. So in some cases they can assist.
Another difficulty with them is that they are a general coarse, so unlike technical degrees you don't come out 'qualified' as anything. EG - if you study accounting - you come out an accountant. Study engineering - youre an engineer. Do an MBA, well, your just a guy/girl with an MBA.
However, if you are coming from a technical background (ie engineering) and want to get into management, I think you would do well completing one.
If the company is paying for it, I think it would be worth the investment of your time.
Blacky
It doesn't make much sense to point out examples of MBA qualified individuals who couldn't run a business to save themselves. You can also find accountants, lawyers, engineers, even doctors who have graduated but don't have the knowledge or skill to perform their jobs properly - it doesn't mean those courses are useless.
I'm biased as I have an MBA from what is a generally well regarded school. To be honest, 80% of the students are pretty average in ability and work experience and probably haven't advanced their careers significantly as a result of having the qualification. However, I can tell you that there are a minority of students who are really incredible individuals. Super switched on, analytic, business minds. These people get picked up quickly by top tier management consultancies, private equity, investment banks, multinationals, NGO's, etc.
MBA programmes are not intended to impart deep subject matter knowledge in any particular area. A good programme will introduce or re-enforce the basics of different functions (e.g: economics, finance, marketing, accounting, strategy) and help students build/develop critical reasoning skills to deal with business related problems.
As others have mentioned, the investment (for a good course) is hefty and the reward isn't going to be there for everyone. If you want to be a management consultant or you aspire to a C level position with a multinational, then it's pretty much a requirement these days. For most others, the benefits won't outweigh the costs.
FWIW, there are several rich listers in AU/NZ who have MBA's ..
I'm biased as I have an MBA from what is a generally well regarded school. To be honest, 80% of the students are pretty average in ability and work experience and probably haven't advanced their careers significantly as a result of having the qualification. However, I can tell you that there are a minority of students who are really incredible individuals. Super switched on, analytic, business minds. These people get picked up quickly by top tier management consultancies, private equity, investment banks, multinationals, NGO's, etc.
MBA programmes are not intended to impart deep subject matter knowledge in any particular area. A good programme will introduce or re-enforce the basics of different functions (e.g: economics, finance, marketing, accounting, strategy) and help students build/develop critical reasoning skills to deal with business related problems.
As others have mentioned, the investment (for a good course) is hefty and the reward isn't going to be there for everyone. If you want to be a management consultant or you aspire to a C level position with a multinational, then it's pretty much a requirement these days. For most others, the benefits won't outweigh the costs.
FWIW, there are several rich listers in AU/NZ who have MBA's ..
This is true, however, they probably would have worked their way up regardless of the MBA. An MBA is just an enabler for the person employing someone to justify their decision.
In years gone by you had to be in this bracket in order to finish your MBA, and this is where the MBA got its reputation. As you mention this is the minority of the graduates nowadays - and its disappointing.
Plenty who don't too...
Just saying
Blacky
No MBA, but I've done a massive AGB at times.
Read a great paper on it when I was undertaking my MEM/MBA (which I then withdrew from).
It is what risk averse people do to increase their chances of getting a leadership role.
The sort of roles which require people to take risks.
So yeah, something extra to add on your resume, but you'd want to be able to back it up with skills learnt on the ground, and if you spent the time and money doing that in the first place, you'll have a higher chance of getting that role.
It is what risk averse people do to increase their chances of getting a leadership role.
The sort of roles which require people to take risks.
So yeah, something extra to add on your resume, but you'd want to be able to back it up with skills learnt on the ground, and if you spent the time and money doing that in the first place, you'll have a higher chance of getting that role.
Thanks guys for all the suggestions
Yes, I ain't gonna pay the bills
If you aren't paying... don't look a gift horse in the mouth. In the right circles they look shiny on your cv.
If you are any good at managing people, it is not a huge time commitment either (4-6hrs/week/unit outside of class time).
Blacky
