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Job Skills Why an MBA is so expensive?

  1. Dec 12, 2017 #21
    The only value of an MBA is that you can say that you have an MBA. It's all about credentializing. The knowledge you gain through the MBA can also be gained elsewhere for free or very cheaply.
     
  2. Dec 12, 2017 #22

    symbolipoint

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    Interesting word, that "credentializing". It reminds me of "educationist".

    A genuine credential will have an official group well governed by very knowledgeable people who decide what the credential means and how the credential holder is qualified and what he is allowed to do.
     
  3. Dec 13, 2017 #23
    So the courses of a MBA are not only earning and following the lessons but also interacting with professionals ?

    An MBA is considered a degree?

    So in your opinion is better to join a great company hoping that someone will pay for you for the MBA or is better to get firstly the MBA and then start to work?

    Is it not to long the process of getting a bachelor's degree, a master degree and then an MBA, without getting no work experience?

    I get this message, I just asked you why I should take in consideration only the master of the Bocconi?

    Where and how?
     
  4. Dec 13, 2017 #24

    symbolipoint

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    The impression I am taking from the reading here, is that MBA is not as important as other things, such as a meaningful undergraduate degree. MBA appears to not be anyone's primary goal.

    (Grands, "MBA" stands for Master's Of Business Administration.)
     
  5. Dec 13, 2017 #25

    Choppy

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    I haven't actually done one, though I know people who have. The details of what you do vary from program to program. In some cases they can be very much course-based. (All will have some coursework element). Others will have what essentially amount to co-op placements or internships. This is where the student is placed with a company for several months. Usually they are assigned or assist with a specific management project within the company such as developing a marketing strategy, assisting with a product launch, policy development and implementation, etc. This is where you gain experience, make network connections and develop what are commonly referred to as "soft skills" - communication skills, learning how to deal effectively with irate customers, etc. Some MBAs will also have a research component to them. So the student might do a project assessing expected growth in a particular market, or look at how a free trade agreement might a given industry.

    An MBA is a master's degree. It's a master's degree in business administration.

    There is no universally ideal case. It's just important to recognizing the advantages and disadvantages of different ways of doing things. Sure, it would be great if a company would pay for you to do an MBA. But it's important to recognize this this is very rare in the current economic environment, and if it does happen, there are strings attached. The company would expect a commitment from you in return.

    I think what a lot of MBA-types are facing right now though is that because the economy has been so slow for so long, you have a lot of people who simply went and got an MBA because they didn't have many job options and now there's a flood of MBAs on the market. So they're stuck competing for entry-level positions with a high level of education and very little practical experience.

    I can only speak from my perspective as a Canadian. I know things are different in Europe. Here, as a rule of thumb...
    bachelor's degree: ~ 4 years
    master's (STEM) degree: ~ 2-3 years
    MBA: ~ 2 years

    So yes, that's a considerable time investment. But the good news is that as a student deciding on a bachelor's program, you don't need to make any of those other decisions until later. Choose the best undergraduate program you can. Then when as you get near the end of that, decide on the next step. You may find that there are opportunities you didn't even know about that are waiting for you a few years down the road.
     
  6. Dec 14, 2017 #26
    We have to study less years.

    Bachelor's degree 3 year;
    Master degree 2 year;
    MBA: 2-3, at most 4 years.

    With doing an MBA you don't have to invest only money but also your time, which is very important when you are young.
    Anyway, there is another option form what I understand, there is also the PhD which in some cases, if I'm not wrong, is appreciated by companies, and is cheap.

    An MBA and a PhD are very different degree, the only thing they have in common is that you can do them after your master degree.
    I think we all agree that a PhD can be orientated on a specific subject, while an MBA is an MBA, that means that is something for those people who want an administrative position I believe.

    Although they are different, can a PhD give the same advantages of doing an MBA?

    Thanks.
     
  7. Dec 14, 2017 #27

    symbolipoint

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    Grands asks:
    Different kinds of degree. Different purpose. Different kinds of advantages.
     
  8. Dec 14, 2017 #28

    donpacino

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    Note: Regional businesses can be HUGE companies with local offices. Companies, especially when not in a major hub for their field, will often pull from local talent due to the fact that they are more likely to stay.
     
  9. Dec 14, 2017 #29

    donpacino

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    an MBA is a masters degree, in business administration
     
  10. Dec 14, 2017 #30

    Choppy

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    This is comparing apples to oranges.

    Let's say you get to a point where you've completed a master's degree in physics and you're trying to decide what to do with your life.
    In principle both directions will increase your earning potential. I can't say by how much though.

    If you go the PhD route and eventually end up in industry, a lot can depend on the specifics of the PhD. Largely though, physics PhDs are hired for their technical skills - programming, data analysis and number crunching, internal research and development projects, engineering or technical problem solving. MBAs are hired for their management skills: organizing people and/or projects, chairing meetings, making business-related decisions such as which products to market, how to market them, which customers to target, etc.
     
  11. Dec 15, 2017 #31

    StatGuy2000

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    As an aside, and at the risk of going off-topic, I do wonder whether an MBA degree actually does an effective job of teaching people management skills of the people I've bolded above.
     
  12. Dec 15, 2017 #32

    donpacino

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    Although I'm on the younger side (5 years in industry now) through my experience and talking to people in industry, an MBA does a good job reinforcing skills that people already have, and good at refining people already in industry. Most people (at least that I have dealt with) do not think as highly of people who directly get an MBA with no experience, because they do not have the real world experience yet to back it up.

    To take the above example. If you have never made business decisions as to which product to market, an MBA might give you tools to do it, but you still won't understand the industry.
     
  13. Dec 15, 2017 #33

    Choppy

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    I wonder that myself sometimes.

    Obviously a lot can depend on the program and instructors in it. And the students as well. Teaching a skill is one thing. But developing a skill, and producing a skilled graduate is something very different. Skill development comes from practice, constructive feedback, and the internal motivation of the student to get better. And to donpacino's point, experience can play a big role as well.
     
  14. Dec 16, 2017 #34

    StatGuy2000

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    You raise great points. It is certainly true that skill development takes practice, constructive feedback, and internal motivation, along with experience. I suppose my contention is whether those particular management skills can be acquired just as easily without the added expense and time of an MBA degree.

    Obviously, mileage may vary greatly on this matter.
     
  15. Dec 16, 2017 #35

    Choppy

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    In my experience people can acquire them without an MBA. Certainly there are a lot of examples of great managers who haven't received any formal training. In terms of making career decisions though, the MBA is a way of credentialing those skills. We live in a world that is very much "credentialized." And so if the OP or anyone else wants to do this kind of work, obtaining those credentials certainly increase the chances of getting work in management, or getting promotions once in a management area.

    Whether that credential is worth two years of your time and tens of thousands of dollars is another, and very important question. I don't think it always is. There are a lot of people who go through all of that and end up on the other side with the credential and no great job prospects, and in some cases they may even put themselves into a position where they are less employable because they're overqualified for other jobs. These are all things a potential MBA grad should ponder before making any decisions.
     
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