This document provides an overview and analysis of MBA programs. It discusses how MBA prestige has fallen as programs have adopted an irrelevant scientific research model over practical business skills. Costs have also increased dramatically without comparable salary increases. The document recommends gaining several years of work experience before pursuing an MBA to improve return on investment and make the curriculum more applicable. Not everyone needs an MBA, and entrepreneurs are better off pursuing their ambitions than delaying to get an MBA only to keep up with others.
This is my Contemporary Marketing for Sustainability (CMS) subject assignment. It wasn't the best in the batch. But was able to get me through the 3rd stage of the PgDip of Marketing at SLIM, Sri Lanka. Feel free to use this for academic purposes only
The Master of Business Administration at VIT is designed for professional people like you who wish to expand their horizons as business leaders. This course prepares you to apply the skills and knowledge to your workplace.
This is my Contemporary Marketing for Sustainability (CMS) subject assignment. It wasn't the best in the batch. But was able to get me through the 3rd stage of the PgDip of Marketing at SLIM, Sri Lanka. Feel free to use this for academic purposes only
The Master of Business Administration at VIT is designed for professional people like you who wish to expand their horizons as business leaders. This course prepares you to apply the skills and knowledge to your workplace.
BUSINESS SCHOOL MAKEOVER; A INDUSTRY PERSPECTIVEIJITE
Business schools across the United States and abroad are always on a catchup mode with the industry expectations. Why business schools are not front runners in training students for industry and consulting? Authors of this article discuss this topic by first setting the expectations from the industry and then how business schools can cope up with the evolving trends. Many authors ([1], [11], [13]) have identified the skill gaps in the industry and how business schools can work towards bridging the gap. There are research reports such as [13], that identified the misconception about the business schools expectations based on a survey of business school leaders globally (excluding China and USA). In the USA, even though business schools have strived hard to create an industry pro-environment in the class rooms, the gap continues to exist. The authors of this article address the industry needs first and explore potential solutions to address the skills gap
Management Education in India - September 2013Careers360
Issues that plague the business education scene in the
country include increase in number of seats, falling student
interests, rising fees and decelerating return on investments.
In short, management education is going through a crisis.
The paper, while enumerating the ills that adversly affect the
system (also based on our survey of 577 B-Schools) present an
overall picture and flags issues that the different stakeholders
of the system namely the B-Schools, the recruiters, the aspirants and the media must confront and address
Visit------->>> https://1millionbusinessideas.com/
Here is a list of top 10 Business Schools in the world according to the Financial Times Global MBA Rankings for the last 3 years (based on multiple criteria). 9 of these institutions have retained their position in the top 10 since the last 3 years.
Here are the top 10 business schools in the world (2020):
Harvard Business School
University of Pennsylvania: Wharton
Stanford Graduate School of Business
Insead
Ceibs
MIT: Sloan
London Business School
Columbia Business School
HEC Paris
University of Chicago: Booth
Acquired Knowledge, Skills and Abilities of Graduates of Business Administrat...IJAEMSJORNAL
This study was done to find out the current employment status of graduates after acquiring Masteral and Doctorate in Nueva Ecija University of Science and Technology for A.Y. 2013-2019. It also described the school- and work-related factors which might affect their employability after getting the degree from NEUST. It also assessed the extent by which work knowledge, skills and abilities thru education have bearing with their current work. Findings showed that the majority of graduates were employed and got promoted. They studied the course primarily for professional advancement, as an institutional requirement and gain management skills. Entrepreneurial and problem-solving skills were the foremost competencies acquired from school. They also found very important the teacher communication skills, professionalism and mastery of the subject to be very relevant too in their education.
This training is designed for those who want to learn about designing local career pathways at the systems level. This session will review key elements of career pathway systems; identify the most important players and their roles; assess community readiness/progress; and share the best of promising practices.
MBA Sydney - This is an opportunity for you to take your career to the next level with a VIT MBA or online MBA you can put your new business skills straight to your work and receive an immediate return on your investment. VIT
BUSINESS SCHOOL MAKEOVER; A INDUSTRY PERSPECTIVEIJITE
Business schools across the United States and abroad are always on a catchup mode with the industry expectations. Why business schools are not front runners in training students for industry and consulting? Authors of this article discuss this topic by first setting the expectations from the industry and then how business schools can cope up with the evolving trends. Many authors ([1], [11], [13]) have identified the skill gaps in the industry and how business schools can work towards bridging the gap. There are research reports such as [13], that identified the misconception about the business schools expectations based on a survey of business school leaders globally (excluding China and USA). In the USA, even though business schools have strived hard to create an industry pro-environment in the class rooms, the gap continues to exist. The authors of this article address the industry needs first and explore potential solutions to address the skills gap
Management Education in India - September 2013Careers360
Issues that plague the business education scene in the
country include increase in number of seats, falling student
interests, rising fees and decelerating return on investments.
In short, management education is going through a crisis.
The paper, while enumerating the ills that adversly affect the
system (also based on our survey of 577 B-Schools) present an
overall picture and flags issues that the different stakeholders
of the system namely the B-Schools, the recruiters, the aspirants and the media must confront and address
Visit------->>> https://1millionbusinessideas.com/
Here is a list of top 10 Business Schools in the world according to the Financial Times Global MBA Rankings for the last 3 years (based on multiple criteria). 9 of these institutions have retained their position in the top 10 since the last 3 years.
Here are the top 10 business schools in the world (2020):
Harvard Business School
University of Pennsylvania: Wharton
Stanford Graduate School of Business
Insead
Ceibs
MIT: Sloan
London Business School
Columbia Business School
HEC Paris
University of Chicago: Booth
Acquired Knowledge, Skills and Abilities of Graduates of Business Administrat...IJAEMSJORNAL
This study was done to find out the current employment status of graduates after acquiring Masteral and Doctorate in Nueva Ecija University of Science and Technology for A.Y. 2013-2019. It also described the school- and work-related factors which might affect their employability after getting the degree from NEUST. It also assessed the extent by which work knowledge, skills and abilities thru education have bearing with their current work. Findings showed that the majority of graduates were employed and got promoted. They studied the course primarily for professional advancement, as an institutional requirement and gain management skills. Entrepreneurial and problem-solving skills were the foremost competencies acquired from school. They also found very important the teacher communication skills, professionalism and mastery of the subject to be very relevant too in their education.
This training is designed for those who want to learn about designing local career pathways at the systems level. This session will review key elements of career pathway systems; identify the most important players and their roles; assess community readiness/progress; and share the best of promising practices.
MBA Sydney - This is an opportunity for you to take your career to the next level with a VIT MBA or online MBA you can put your new business skills straight to your work and receive an immediate return on your investment. VIT
Future of Business Education - working documentRoss Wirth
Summary of issues facing business education including some analysis of criticisms from hiring managers, what it means to be a College of Business, and emerging trends.
BUS 2403 Fundamentals of Innovation & Experience Tradition/tutorialoutletd...pinck33693
FOR MORE CLASSES VISIT
www.tutorialoutlet.com
BUS 2403 Fundamentals of Innovation & Entrepreneurship Project 04 Personal Business Plan
Project 4: Individual
Worth 40%
Due Week 15
Part A: Written Report 10%
Part B: Presentation 30%
La Trobe Business School
SPORT MARKETING
MGT1SMK
Subject Learning Guide
Semester Two
2016
Bendigo & Melbourne
Subject Coordinator: David Lowden
Subject Staff:
Sandy Hall, Paul Emery, Caroline Pyle
La Trobe University
2
Table of Contents
SUBJECT DETAILS 3
GENERAL DETAILS 3
ENROLMENT REQUIREMENTS 3
STAFF CONTACTS 3
SUBJECT DESCRIPTION 3
SUBJECT INTENDED LEARNING OUTCOMES (SILOS) 3
LATROBE ESSENTIALS ERROR! BOOKMARK NOT DEFINED.
GRADUATE CAPABILITIES 3
LEARNING ACTIVITY SUMMARY 4
ASSESSMENT AND FEEDBACK SUMMARY 4
LEARNING RESOURCES 4
STUDENT FEEDBACK ON SUBJECT SURVEY 5
POLICIES, PROCEDURES AND GUIDELINES 5
ACADEMIC INTEGRITY 5
SPECIAL CONSIDERATION 5
EXTENSIONS, LATE SUBMISSIONS AND PENALTIES 6
RULES - COLLEGE/SCHOOL/DISCIPLINE-SPECIFIC INFORMATION ERROR! BOOKMARK NOT DEFINED.
SCHEDULE OF LEARNING ACTIVITIES ERROR! BOOKMARK NOT DEFINED.
SESSION PLAN ERROR! BOOKMARK NOT DEFINED.
LEARNING ACTIVITY DETAILS ERROR! BOOKMARK NOT DEFINED.
LEARNING ACTIVITY - COLLEGE/SCHOOL/DISCIPLINE-SPECIFIC INFORMATION ERROR! BOOKMARK NOT DEFINED.
ASSESSMENT AND FEEDBACK DETAILS 8
DETAILED GRADING CRITERIA ERROR! BOOKMARK NOT DEFINED.
ASSESSMENT AND FEEDBACK - COLLEGE/SCHOOL/DISCIPLINE-SPECIFIC INFORMATION ERROR! BOOKMARK NOT DEFINED.
STUDENT LEARNING UNIT (SL) ERROR! BOOKMARK NOT DEFINED.
LEARNING MANAGEMENT SYSTEM (LMS) ERROR! BOOKMARK NOT DEFINED.
LIBRARY ERROR! BOOKMARK NOT DEFINED.
STUDENT SUPPORT SERVICES ERROR! BOOKMARK NOT DEFINED.
PEER LEARNING ADVISERS ERROR! BOOKMARK NOT DEFINED.
RESOURCES - COLLEGE/SCHOOL/DISCIPLINE-SPECIFIC INFORMATION ERROR! BOOKMARK NOT DEFINED.
La Trobe University
3
Subject Details
GENERAL DETAILS
Subject Code: MGT1SMK Subject Title: SPORT MARKETING
Teaching Period: SEMESTER TWO Location(s): BENDIGO, MELBOURNE
Credit Points: 15 Mode: ON CAMPUS Level: 1
ENROLMENT REQUIREMENTS
Prerequisites: NIL
Co-requisites: NIL
Incompatibles: THS3SMS, THS2SMK
Assumed Skills & Knowledge: NIL
Special Study Requirements: Students with additional needs are encouraged to consult the Equality & Diversity Centre:
http://latrobe.edu.au/equality
STAFF CONTACTS
Role Campus Name Email Telephone Room
Subject Coordinator Melbourne David Lowden [email protected]
Lecturer & Tutor Bendigo Sandy Hall [email protected]
Tutor Melbourne Paul Emery [email protected]
Tutor Melbourne Caroline Pyle [email protected]
SUBJECT DESCRIPTION
This subject examines the marketing of sport organisations (professional and amateur), sport codes, athletes and sport events. The special
nature of the sport market will be explored, including understanding the sport consumer. Students will gain skills in the preparation of sport
marketing plans and the subject will enable students to develop an appreciation of the marketing tools as they apply to the sport market.
SUBJECT INTENDED LEARNI ...
A Masters in Business Administration (MBA) is a one-year professional business degree. Earning this degree adds some expected as well as unexpected benefits to one's life. The bulk of these benefits extends beyond career and other professional goals. It greatly applies to our daily lives as well. Oftentimes, people are indecisiveness about pursuing an MBA and what benefits a 1 Year MBA degree will afford them. Consider these benefits detailed below, you may be surprised.
Looking for the best B.com college in Indore to pursue your dreams of becoming a successful manager? Look no further than [Name of College], the top-rated college for B.com in Management in Indore! Our expert faculty, modern facilities, and innovative teaching methods ensure that you receive a world-class education that prepares you for success in the competitive world of business. Join our vibrant community of students and start your journey towards a bright future today!
Luận Văn High Workload At G6 Center In Bien Hoa – Vietnam đã chia sẻ đến cho các bạn nguồn tài liệu hoàn toàn hữu ích đáng để xem và tham khảo. Nếu như các bạn có nhu cầu cần tải bài mẫu này hãy nhắn tin ngay qua zalo/telegram : 0973.287.149 để được hỗ trợ tải nhé.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
How to Create Map Views in the Odoo 17 ERPCeline George
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Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
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Model Attribute Check Company Auto PropertyCeline George
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Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
1. 1
1
Table of Contents
LIST OF ILLUSTRATIONS.....................................................................................................................................................1
ABSTRACT………………………………………………………………………………………………………………………………....2
INTRODUCTION........................................................................................................................................................................4
Background……………………………………………………………………………………………………………………..4
DISCUSSION.................................................................................................................................................................................5
Brief Overview of Audience……………………………………………………………………………………………...5
MBA Programs—Falling Prestige……………………………………………………………………………………..6
Irrelevant Curriculum……………………………………………………………………………………………………..6
The Scientific Model Approach…………………………………………………………………………………………6
MBA Programs—Cost Analysis…………………………………………………………............................................7
Displayed PriceTag versus Actual Costs…………………………………………………………………………..7
Rethink MBA—Emphasis on Pre-MBA Work Exposure……………………………………………………...8
School Selection—Higher ROI…………………………………………………………………………………………..9
Pre-MBA Experience—Relation to Scientific Model Approach………………………………………….10
MBA—Not an alternative route………………………………………………………………………………………10
MBA—Does everyoneneed it?...........................................................................................................................11
Importance of an MBA to an Entrepreneur……………………………………………………………………...11
Importance of an MBA to a Smart Investor……………………………………………………………………...12
Importance of a degree to Shell Federal Credit Union’s CFO…………………………………………….12
CONCLUSION……………………………………………………………………………………………………………………………13
RECCOMENDATIONS………………………………………………………………………………………………………………..15
REFERENCES……………………………………………………………………………………………………………………………18
APPENDIXA…………………………………………………………………………………………………………………………….17
APPENDIXB…………………………………………………………………………………………………………………………….21
2. 2
2
List of Illustrations
Figure 1 Degree Plans……………………………………………………………………………………………………..2
Table 1 Master’s Degrees………………………………………………………………………………………………...3
Figure 2 Work Experience or Education Importance………………………………………………………...3
Table 2 Kellogg School of Business…………………………………………………………………………………..7
Table 3 University of Houston—Clear Lake and Rice Tuition Comparison………………………....8
3. 3
3
Abstract
This research looks into the details of graduate school, to be specific, going into an
MBA program while considering other factors that may or may not be more beneficial. The
research is a detailed overview of enrolling into a school for an MBA. Additionally, the
costs involved, the amount of time, and money that would have to be invested and amount
of work experience that would be ideal to raise the return on investment are explained in
the paper. The main focus of this research is to guide undergraduate students towards
making the right decision before enrolling into an MBA program.
4. 4
4
Introduction
Background
Master of Business Administration is a type of graduate program offered by almost
every school starting from the Ivy League schools all the way down to schools that are not
as well known. The course work started off as a two year program, but the rapidly
expanding working class forced associates on the education platform to open up shorter
options, making it convenient for a larger group of people to seek higher education. The
course structure is a combination of the analytical, functional, and ethical areas of business.
The analytical area consists of accounting, economics, operations research, organizational
behavior, and statistics. The functional areas consist of financial management, human
resource management, marketing management, and operations management. Ethics is a
combined study of business ethics and corporate social responsibility. Some of the major
specializations within the graduate program include entrepreneurship, finance,
management, project management, and marketing. Specializations in areas, such as brand
management and advertising, have also found its way into the list in recent years because
of the rapidly growing competition in the market.
Rapidly growing technology has spiked up the skills required to attain a job that
would offer sufficient pay to sustain the ever-increasing inflation and rising competition. In
turn, this has led to people finding their way back to school to take their qualifications a
step further in order to get ahead of their colleagues. With the rise in tuition and living
expenses, is it always a good idea to go back to graduate school, or is it better to invest time
in gaining work experience? What have studies shown regarding the right amount of
experience needed prior to enrolling in business school?
5. 5
5
Discussion
Brief Overview of Audience
College students at University of Houston—Clear Lake come from a wide variety of
backgrounds. In order to gain a deeper understanding of our classmates, we conducted a
class survey. The questions we asked were geared to reflect their future plans after
receiving a bachelor’s degree. The following visuals represent the educational background
and opinions of students in an upper-level business writing class at the University of
Houston—Clear Lake. There are 24 total students in the class, however, only 19 students
completed the survey.
Source: Suvarna, Kartik. (2014, March). MBA vs. experience survey for class project.
Figure 1 displays the specific degree each student in the class is currently pursuing.
Note that 19 students were surveyed, but we received 20 responses for this question—one
1
5
2
6
2 2
1 1
Students
Degree
Figure 1 - Degree Plans
# of students
6. 6
6
person is majoring in 2 degrees. We have a wide variety of degree plans displayed, but the
main degree plans are accounting and management.
Table 1 - Master's Degrees
Decision
# of
students
Yes 11
No 7
Maybe 1
Total 19
Source: Suvarna, Kartik. (2014, March). MBA vs. experience survey for class project.
Table 1 displays the results when students were asked if they planned to continue
with education and pursue a master’s degree after completing a bachelor’s degree. More
than half of the total number of students do plan to continue into some sort of master’s
program eventually.
Source: Suvarna, Kartik. (2014, March). MBA vs. experience survey for class project.
Figure 2 represents the results when the students were asked if they thought work
experience or education is of more value to an employer hiring a new employee.
Interestingly, a minority of the students chose only education, as you can see in table 1 that
10
3
6
EXPERIENCE EDUCATION BOTH
Students
Results
Figure 2 - Work Experience or
Education Importance
# of students
7. 7
7
several of the students are planning to continue on in education. This leads us to wonder
why might a student consider experience of more value, yet based on table 1, several
students plan to continue on in education. This could be to related several factors.
MBA Programs – Falling prestige
Irrelevant Curriculum
Once upon a time MBA programs were more prestigious and respected in terms of
academia all around the world. On average one in fifteen enrolled into the program based
on selective admissions and graduated to a pay package that made it worth the time and
years spent. MBA programs were designed to guide students towards developing
leadership skills, develop ethical behavior, and create a path towards attaining a well-
paying corporate job. Many top business schools today have adopted an inappropriate
model of measuring themselves. Instead of measuring themselves in terms of the
excellence of their graduates and knowledge of their faculties in terms of business
performance, they measure themselves on the basis of scientific research. So much time
and money is spent on research, resulting in little being used in business practices. This
results in an irrelevant use of abstract financial and economic analysis and laboratory
psychology (Bennis and O’Toole).
The Scientific Model Approach
In today’s world, top ranked business schools do not hire faculty members whose
qualifications include being an assembly plant manager or a business article writer. They
instead take an approach called physics envy. In fields like physics and biology much
emphasis is put towards research work, which means faculty members rarely interact with
their students. Whereas in the field of business, a rookie needs to know the problems faced
8. 8
8
by a manager in the corporate world rather than being asked to research new ideas before
knowing the basis of the managerial approach towards getting daily tasks done. This is
why it is said that the top ranked business schools have made it easier on the faculty by
adopting the scientific approach thus making it less time consuming for the faculty when it
comes to interacting with their students (Bennis and O’Toole).
This might be a result of the increasing number of students enrolling making MBA a
trend rather than the resource to extend one’s knowledge of the business world that it once
was.
MBA Programs – Cost analysis
Displayed price tag versus actual costs
MBA costs have increased tremendously over the years, and one of the most
expensive schools among the top ranked schools is Columbia Business School. This again is
due to the rising enrollment compared to 7-8 years ago. Even with mind-boggling costs
making it hard for a student to get through daily expenses, especially in places like New
York and California, something is still attracting a high volume of applicants. Today’s
environment and egoistic thought of having more qualifications on paper than the person
next to you, might be one of the reasons. Another reason would be the marketing tools
many schools have implemented. For example, Cornell has publicly quoted, “It is much
easier to live like a student when you are a student rather than living like a student when
you are earning $90,000 annually. If you were to reduce your student loans from $50,000
to $40,000 you would approximately save $121 per month in student loan payments”
(quoted in Byrne). The marketing approach mentioned also involves hidden costs that are
not included in the program costs that are made mainstream. For example, Wharton
9. 9
9
School of The University of Pennsylvania fails to include the $5,800 - $7,800 cost of Global
Immersion Program in its price tag of $168,000 (“The Cost of an MBA: Why Pay Higher
MBA Fees?”). This forces students into planning a route where they aren’t aware of the
actual costs until they are already in the program and it’s too late to change course. If you
looked at these costs on an international level, it still proves expensive. However, it doesn’t
seem expensive at first glance. Europe has one-year MBA programs that seems cost
effective like the 10-month MBA program at INSEAD in France that costs only $102,714 out
of which $73,000 is tuition expenses. Europe in general is not affordable to many, and
living in France on a $30,000 budget for ten months is only possible if your family is well
off or you live below your means (Byrne).
Now that we have a wider knowledge of these hidden expenses, what approach
would make more sense towards choosing a business school? It comes down to the fact
that even though the University of Texas—Austin is not ranked among the Ivy League
schools, it is still one of the top schools and offers financial aid that covers 75% of the
educational fees (as compared to 50% by most other schools).
Rethink MBA – Emphasis on Pre-MBA work exposure
School ranking does matter when choosing a business school, and there is no
comparison to any of the Ivy League schools. There comes a point where one has to choose
a school based on affordability and outcome. If one chooses a business school to keep up
with a trend by paying no attention to whether one can afford it, or even be able to pay the
loans off on graduating, then one is taking a shorter and irrelevant path towards the future.
Again, basing the decision off of money being invested and the outcome of the investment
does not mean that one should choose a school that is nowhere close to having a
10. 10
10
reputation. This results in the person choosing that path to keep up with the person next
door. It comes down to the fact that it makes more sense to gain some work experience
and climb the ladder in your field before enrolling into an MBA program. This will help one
make practical sense out of the program rather than reading the textbook to attain that
degree on paper. Establishing an ample amount of pre-MBA work experience, and having
climbed the ladder to a managerial position before enrolling into an MBA program, will
result in a high pre-MBA salary thus laying down a wider variety of schools to choose from
when it comes to cost and giving one a competitive advantage over others while applying
for post-MBA jobs. This further results in a higher position and a greater Return on
Investment (ROI).
Table 2 - Kellogg School
of Business
2001 2011
Pre-MBA salary $65,000.00 $73,000.00
Cost of MBA $235,066.00 $310,378.00 32% increase
Post-MBA salary $90,000.00 $110,000.00 13% increase
Source: Byrne, John A. (2011, November). MBA Costs Soar.Salaries?
Retrievedfromhttp://management.fortune.cnn.com/2011/11/18/mba-costs-soar-salaries-not-so-much/
The above table 2 gives a numerical explanation on the ROI when deciding the right
time along your career to take the MBA path. It shows how from 2001 through 2011 the
11. 11
11
cost of an MBA has increased by 32%, but the post MBA salary has increased by only 30%.
Thus, the Return on Investment over the years has fallen drastically.
School Selection – Higher ROI
As mentioned earlier, pre-MBA work experience and status opens up options when
it comes to school selection. Going to school to acquire greater knowledge and to get your
money’s worth lays down a straight road towards settling down and being, debt free in the
near future, instead of going only to get the qualifications on paper.
Table 3 UHCL Rice university
Total cost of Attendance $19,772 $58,703
Average post MBA starting
salary N/A $99,000 (W/O Experience)
Source: (2014, March). Find The Best.
Retrievedfrom: http://business-schools.findthebest.com/compare/126-177/University-of-Houston-Clear-Lake-TX-vs-Rice-University-
Jones-TX
The above table 3 shows the difference in tuition costs between University of
Houston – Clear Lake and Rice University. Rice University proves to be significantly more
expensive than UHCL, but research and interaction with current students at UHCL shows
that people graduating from UHCL with an MBA program have not been able to find jobs
easily. If they do, it has not resulted in returns that were expected. It can be argued that not
getting a high starting salary upon graduation from UHCL is not an issue, as a lot of money
was not invested into the program to begin with. It may seem that way, but people forget
that investment is not only related to the money spent but also the time spent as well. If
instead the same person had gained 4-5 years of work experience and reached up to a
12. 12
12
managerial level, then they would have been admitted to a better business school resulting
in time and money well spent. If one does not want to be in a managerial level at work,
then doing an MBA is pointless. Hence, getting there or close to that level before enrolling
into an MBA would make the program more practically understandable rather than
theoretically understandable, thus, drawing your path for the future rather than spending
time and money irrelevantly and waiting for the path to be drawn. Eventually these results
give one the competitive advantage over others in the hiring process.
Pre-MBA experience – Relation to the Scientific Model Approach
As previously mentioned, schools today take the scientific model approach where a
lot of emphasis is on researching new ideas, minimalizing the interaction between the
faculty and the student. How is one supposed to research a topic related to managerial
culture when one has no managerial experience? One needs to spend enough time getting
to that level and experiencing daily activities of a manager in order to research and think
beyond what one has been asked to do.
MBA – Not an alternative route
MBA programs cost $100,000 dollars or more and take two years to finish, which does
not include a year prior to those studying for the GMAT in order to stand out among other
applicants (Clark). It is a lot of time and money that needs to be spent in order get the
outcome that is worth it. Many people go through tough times and failures and get carried
away with what other people are doing, making them want to do the same. This results in
not investing time and money the right way. An MBA is an incredible qualification to have
if done right but the following are the wrong reasons to pursue an MBA:
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One is not sure what one wants to do in life.
One’s career is stalled.
One got admitted into MBA School – good or bad school is not taken into account.
One is bored of what one is doing and wants to go back to school.
MBA – Does everyone need it?
Importance of an MBA to an entrepreneur
What is an entrepreneur? An entrepreneur is someone who is willing to take risks,
full of creativity and ideas, and willing to put their money on the table knowing that there
are only two ways to go from here – either that money will multiply its way back or will
result in a heavy loss. Knowing these circumstances, the person still takes the approach of
putting his or her ideas to work and is thus known as an entrepreneur.
Now since everyone around is pursuing an MBA degree, is it worth it for an
entrepreneur to give up his ambitions and take the MBA route to keep up with the rest of
the world? An MBA will step up one’s qualifications and teach one all about the corporate
world and the managing and dealing with fellow employees. However, an MBA will not
teach you how to take risks as experience does. Risk taking is an inbuilt personality trait
that a person is born with or grows into as experience comes. A prosperous family
background also gives a person the opportunity to take risks (although not having the
creative ability will not get the person very far). An entrepreneur would rather risk
$100,000 on a work plan to create the path for the future rather than relying on MBA to
help create the path for the future. The dean of the Beijing International MBA program has
quoted, “In my opinion, entrepreneurship is a matter of the heart and education is a matter
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of the brain. It is difficult to teach a heart” (Greer). This being said, it is also true that MBA
programs do help give up a clearer perspective on management and companies thus
making it easier for an entrepreneur to avoid hurdles while trying to expand his or her
business. In all of this, as said by Stephen Greer “only you know whether or not you have
the heart to execute on the opportunities we all recognize to launch a compelling business”
(Greer).
Importance of an MBA to a smart investor
A person who has an undergraduate degree, but has been exposed to how the
markets work on a daily basis, knows exactly how and when to invest rather than spending
two years getting an MBA degree. There are people with hands on talent that get real
pleasure out of working on houses and thus have the ability to make real estate investment
and make more than required for a decent living. There are people who are interested in
oil and gas and should thus plan on investing money into moving to a place like Texas and
make a living out of it. Spending $100,000 to go to school for MBA is not feasible for all. It
depends on what one’s goal in life is. If one is already on the right track of achieving that
goal, be it stock markets or real estate, then one does not need an MBA to make achieving
that any easier. In fact years will be lost focusing on the degree for the wrong reasons and
trying to make a return on the investment. One would rather invest the same amount of
money and time in a field where they are already an expert and make a bigger return on
that investment in two years’ time.
Importance of a degree to Shell Federal Credit Union’s CFO
In efforts to gain more of an insight of what employers are looking for, we
interviewed Elizabeth Monroy, CFO of Shell Federal Credit Union. This interview was
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comprised of seven thought provoking questions as to whether an MBA is more important
than experience, and whether an MBA is better than a bachelor’s degree. The questions
were then sent by email to Elizabeth Monroy. As a group, we thought this interview would
give us great perspective into the mind of a working individual who has their hand in part
of the hiring process. With that being said, Elizabeth Monroy believes to an extent, that
both education and experience contribute to getting the job and salary one desires and
recalls on her own experience to getting to where she is now. Monroy said, “My previous
experience allowed me to learn quickly. I was able to focus and grasp complex concepts
that others were not even touching” (Monroy).
When it comes down to deciding which degree is better, Monroy believes it all boils
down to one’s drive to succeed. For example, if an individual has low motivation, then
perhaps it is best not to pursue an MBA. On the other hand, if an individual expresses a
strong tolerance for doing whatever it takes, then that person would greatly benefit from
earning an MBA. It’s like Monroy said, “If you have a bachelor’s and a marginal drive, then
you probably wouldn’t gain much from having a master’s. The slight benefit might not
outweigh the cost of the degree. However, if you are driven, motivated, and have proven
this enthusiasm with a bachelor’s, then a master’s degree will exponentially propel you
forward” (Monroy).
Conclusion
The paper does not lead us to a decision but instead is more of an eye opener to
engage people into thinking before they take the route straight for graduate school.
Pursuing an MBA is an investment in terms of finances and time, which do not always
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payoff in the long run. In order to get a positive outcome of the investment, one would
have to first think of his or her goals in life. Based on those goals, plan the road towards
achieving it. If an MBA turns out to be a step towards achieving that goal, then plan your
school, the money required, and the time without pay that would be invested. Based on
that research, one could pick the right amount of experience one would have to gain prior
to an MBA in order to get a return that is worth it.
Recommendations
By taking into consideration the following recommendations, based on conclusions
discovered through research in this report, one can successfully determine the right path
for themself. While every student is different and has a different situation, these are just
some basic and general recommendations.
1. Develop goals, big and small. Start with education degrees, and then list career
goals. Lastly, take into consideration financial goals of where you would like to be. Make 5-
year, 10-year, and 20-year goals as to where you see yourself in the future in all three of
these categories. As a note, these recommendations are in no particular order, and one
should consider all of them at once.
2. If you plan to continue into an MBA program, research the schools that best fit
your degree. See what employers are looking for. This can be done by reviewing job
postings and requirements online in the simplest form.
3. If you plan to work, review your employer’s tuition policies. It is highly likely that
they will reimburse you after you work with them for a certain amount of time. If you did
not plan to work, consider this an option by searching for employer’s who do offer this.
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4. Determine how much you are willing to go in to debt for an education. Consider
the amount of time it will take you to payback all of your tuitions. This could be a huge
determinant to decision.
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References
Bennis, Warren, and O'Toole, James. "How Business Schools LostTheir Way." Harvard
Business Review. May 2005. Web. 26 Jan. 2014.
Byrne, John A. "How Much Does a Top MBA Degree Cost?" Poets and Quants. 08 Jan.
2011. Web. 25 Jan. 2014.
Byrne, John A. "MBA Costs Soar. Salaries? Not so Much." Fortune Management
Career Blog RSS. 18 Nov. 2011. Web. 01 Apr. 2014
Clark, Dorie. "Grad SchoolMay Not Be the Best Way to Spend $100,000." Harvard
Business Review. 15 Apr. 2013. Web. 26 Jan. 2014.
Find The Best. N.p. Web. 28 Mar. 2014.
Greer, Stephen. "Does an Entrepreneur Need an MBA?" Harvard Business Review. 17
Nov. 2010. Web. 26 Jan. 2014.
Monroy, Elizabeth. Personal interview. 22 March. 2014.
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Suvarna, Kartik, et al. MBA vs. experience survey for class project. 19
April. 2014.
“The Costof an MBA: Why Pay Higher MBA Fees?” Top MBA. 23 Apr. 2012.
Web. 27 Mar. 2014.
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Appendix B
Interview Questions for Elizabeth Monroy
CFO of Shell Federal Credit Union
1. What degree/degrees do you currently have? What experience do you have?
I hold a Bachelor of Arts degree in Accounting. I am currently working on a Masters in
Management. I have experience in all facets of the banking industry. My experience began
with banks in 1980, eventually moving into the credit union industry in 1996. Finance and
Accounting is my strength and it was evident even back in 1980. I was and am still a
sponge for learning new concepts and applying them; the key to success in my book. I
escalated quickly to leadership positions. At the age of 20, I supervised the accounting
department of Bank of America, a significant achievement without a degree back in the day.
I fell in love with working, accomplishing, and managing and I am still in love today, 32
years later.
Ideally, my position should require a CPA or CMA certification and/or an MBA.
Fortunately, because of my experience and my employer's philosophy on education, I am
not required to hold these credentials.
2. How did your experience or education get you to where you are now? Do you
feel like one benefited you more than the other? If so, please explain.
Both my experience and education contributed equally to my current success. However,
there is no doubt that the path I took to gain each in terms of timeline was challenging. To
explain, I worked in banking for nearly 12 years before pursuing an education. I learned
and applied my knowledge accordingly, however, I hit a career wall. That is, I found I could
no longer progress in my career unless I held a degree. I was also capped on compensation;
my team all had degrees and all earned more than me. My ambitions conflicted greatly
with this; I was frustrated, hurt, and had simply lost my spirit. To remedy this, I decided to
go to school. I couldn't get around continuing to work full-time, but I also knew I could not
just attend school on a part-time basis. I needed my degree and fast. So I went full-time
and just knew it would be over at the blink of an eye.
In hindsight, it truly was the best thing that ever happened to me. My previous experience
allowed me to learn quickly. I was able to focus and grasp complex concepts that others
were not even touching. About 4.5 years later, I graduated with a 3.9 GPA from a very
reputable accounting school, the University of South Florida and was incredibly proud.
Meanwhile, halfway through my education, I joined the credit union industry and met
incredibly appreciative and caring people. I met my mentor: a very kind person who
pushed me beyond expectations and taught me so much.
My pre-education experience made a huge difference in how I assimilated what I learned in
school. I feel fortunate to have been able to follow the path that I followed. And, from the
banks, I also learned what not to do and how not to be. Bottom line, I would not change a
thing.
3. Do you consider experience in a specific field or an educational degree to be of
more value when hiring someone?
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The key words in this question are "when hiring someone". If I am hiring from outside of
Shell, I zoom in on both education and experience. This is because it is very difficult to get a
full understanding of an individual from a resume and/or an interview. No matter how
good the interviewer is at "reading" people, it is a 50/50 guess. That's where education
kicks in for me. An education validates a person's knowledge. I always request transcripts.
I do not want 2.5 GPA's; I want 3.5 GPA's. That is how I know what they are capable of.
That said, a degree and grades is only part of the equation. Experience also carries huge
value. Even when a candidate's experience is unrelated, a comprehensive interview can
uncover what they really know and uncovers their work ethic.
For promoting from within, I consider the employee's knowledge, work ethic and
character. I refer often to the Jim Collins' book, "Good to Great" where getting the right
people on the bus is just as essential as getting the wrong people off the bus. If you don't
fit, it won't work. Therefore, first and foremost, it's important to ensure people fit. That is,
do they have the knowledge and experience or potential to get the knowledge and
experience? Do they have the personality and drive that is needed to get the job done? Not
having a formal education is less critical to me when evaluating an employee for a
promotion. While I need to meet my business needs, I will not create career barriers for
lack of a degree. That said, I encourage all of my employees to get a formal education
because they can only get better with it.
4. What is your outlook on a master’s degree versus a bachelor’s degree?
Both degrees bring tons of value. The bachelors earns its' merit because it is challenging;
one is learning new concepts for the first time. The Masters revisits concepts already
learned, but it is a deep dive. Also, the bachelors work is probably 80% self-study, 20%
teamwork. It is the other way around for a Masters. Because teamwork is crucial in any
workplace, it is an invaluable experience. Companies that work in silos crumble.
Companies that that work in teams across the board are successful. So, learning this
concept, however frustrating it is at times, makes an individual stronger and extremely
valuable.
5. What advice would you offer someone in college who is considering pursuing a
master’s degree but is stuck deciding if it is financially right for them?
I would advise them to hold off for two reasons. Many believe that a master’s degree pays
for itself; that it is a ticket to making more money. That is absolutely untrue. A master’s
degree enhances what you already have. If you have a bachelors with a GPA of 2.5 and a
marginal drive, then you probably would not gain much from having a Masters. The slight
benefit may not out way the cost of the degree. However, if you are driven, motivated, and
have proven this enthusiasm with a bachelors GPA of 3.5+ , then a master’s degree will
exponentially propel you forward. The issue is identifying what bus you are on.
The other reason for holding off is that many companies have tuition reimbursement plans.
This could be a work as you go endeavor.
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6. In your opinion, is it better to get student loans for a degree or start gaining
work experience as soon as possible? Please explain.
In my opinion, a bachelor’s degree is critical, so I recommend either attending school and
not working, or attending school while working. If one is able to gain experience while
going to school, then that is the best scenario. And, if that means getting student loans,
then that is recommended. (This may be different for master’s degrees as noted in #5).
The benefits of this scenario are as follows: You are gaining experience while attending
school, (2) it is proving that you can handle 2 major challenges simultaneously, (3) you may
be fortunate to work for an employer that has a tuition reimbursement policy, and (4)
student loans are cheap money and well worth it especially for students falling in #2.
That said, my own personal experience worked well for me. I had a family straight out of
high school and was unable to start school immediately. Though my intentions were to get
a formal education immediately, it took 12 years to enroll. These work experience years
served as a foundation in my education. However, not many individuals have the drive to
pursue this challenge while working and having a family. It requires a dedicated, focused
mindset and minimal sleep.
7. What would you say was your biggest obstacle getting to the position where you
are now? Is there anything that you would do differently that you are willing to
share?
My biggest obstacle has been and continues to be my need to be in control. And, that leads
to lack of teamwork. I recognize that silos are counter-productive, but I also know that I
work best on my own and/or controlling my work teams. I can easily direct, but I am
controlling; that is, I like things done my way. This is a character flaw especially when
working on tasks that cross into other business units. I have to work hard at being open-
minded and at considering others' opinions. I make every effort to pick my battles and let
go. Though it is a struggle for me, I do it because in the end it is better to have teamwork
than not have it. The joy I get from being on a team, however hard it is to let go, is
incredibly rewarding. Lesson learned-over and over again.