To MBA or Not MBA
I finally got a taste of 'LIFE-AFTER-RESIGNATION-BUT-SERVING-NOTICE' la. It is damn boring.... they dun involve you in anything and treat you like a spy. But they refuse to let you go early. I think it is because I am the face-of-my-firm, not many good looking people in the financial industry, I guess....So, I have no choice loh. I blog while getting paid lor...:D ...............I have been asked a question recently just slightly over 2,000 times.
"Ah Junior, should I do an MBA?"
My first question in reply is always, why do you want to do an MBA? Most reply with saying 'Career advancement'. Then, immediately I behave very 'mature' and become an old man and say 'If you still believe that MBA is a passport for career advancement, then you are out-day la (outdated)'
I remember 15 years ago, if you are out of school with LCE...(I think it is equivalent to STPM), you are damn good. 10 years ago, if you have a degree, you are damn good. 5 years ago, if you have an MBA, you are damn good. But these days, touch wood it does not happen, if a lorry ran into the mamak stall and kill 10 people, 8 out 10 probably have a master degree. The 'in' thing to do now is PHD or DBA. What is the value of MBA?
I think unless you come out from the top 20-30 schools in the world and carry the right brand, an MBA will not get you a GOOD job.
http://www.businessweek.com/bschools/04/index.html#top30
To do an MBA, it must be a positive NPV decision. i.e. the cost that you are paying must be LESS than your future increment in INCOME. Say you are earning RM 5,000 a month and you are able to save RM 2,000 a month. The costs of doing a decent MBA is approx. RMB 200,000 to RM 250,000 (if not more. i am choosing the lower end of good schools like Virginia, Carnegie etc) including costs of living and it takes say 18 months.
Your total relevant cost is say RM 225,000 PLUS the forgone saving of RM2,000 x 18 months = Grand Total of RM 261,000. If you want to have a pay back period of max 5 years (which personally I think is long), you need to make sure that your next job can pay you RM 4,350 a month MORE than your current job. (If you chooses a cheaper school offshore, this would be around RM 2,500 a month).
If you are not able to get a job OFFSHORE, the chances are, you are losing money on your decision to study that MBA. Try walking to CIMB or ECM and tell them to pay you RM 9,350 and see. You dun have a good deal.
Some argue, well, MBA comes with other benefit like learning something, different experience, widen exposure and all those thingies (aikksss....say 'beer' and 'girls' la........if you are lucky, you probably get to shag a spaniard...) . I would say, then dun do a MBA, do a specialised degree. Like Master of Applied Finance (kakkaka...I did this, so I put this first), Master of Financial Engineering, Master of Real Estate Finance etc. Some good schools ranging from London Business School to University of Melbourne to Nanyang Tec University of Singapore offers DAMN good value for money. I recently went to HK for a job interview, I am not sure but I did not have a feeling that they looked down at my Finance Master or they prefer a MBA. I got the job in the end. So, I think you dun really have to do an MBA to get a good job. A specialised degree SELL your Passion on a particular area of interest (which sells very very well with multi national firm).
For career advancement, you must buy low sell high i.e. choose a program that is best value for money. Not buy high and hope to sell higher like doing an MBA. It is very risky.
Just my view la. I have no professional training....:D
Junior
posted by Junior @ 1:03 PM
8 Comments:
I reckon MBA will only get one the job interview.
Most important thingy?
Old man teach me you must know how to tok and tok and tok and tok and tok. And obviously knowing know to point sky and pok ground is extremely important too.
You? My Ah kor? Well u sooooooooo hamsum and sometimes u sooooooooo clever.
Steady, steady find eat!
:D
TNS...Nomore, you England is getting worse than MINE....
I am sooooooo happy.... I usually have to read your post twice and usually laugh like hell after I get what you mean....
Wei, like that cannnnooooot lehh.... we are competing to write horrible england leh
Liama, you just prompted me to write one blog...very important....
nahh....here is my chastity http://forums.delphiforums.com/ms88/
Junior,
I promise next time my England be much better than yours. LOL!
Competition is good isn't it? Look at MU. Er, how many years no win cup, oredi? (waiting patiently for Friday to put ticket, ok? Dun let go me areoplane!) See? U forced me talk balls again!
Lib,
http://forums.delphiforums.com/ms88/start
and this is y1's site. U wud ABSOLUTELY love it!
http://forums.delphiforums.com/mamak_stall/start
ps... let me know ur rebirth nick cos.. i got some anti-rogol protection installed. :)
Cheers!
wah ah lia....
the new biz must be gianormous
come back la, all is forgiven...
:D
Y1
haiya junior,
1) go for web uni mba mah... almost free one and somemore no need to study or leave work ;p
2) go for night class, also no need to leave work
3) go for those mbas that lecturers visit you and can be supervised through the net, cheaper but less prestiguous and cannot network with the spanish gals
4) other than that, let your wife support you lo, no need to work mah, be a professional student
y1 ;p
err... me only got a diploma fr petaling street nia. so canoot give u professional guys comment.
but i think if u looking for higher pay. the boss will look at ur experience and ability, then only qualification...
for me i won't pay tat $$ to read books lo :<
Personally, I am not against studying MBA or other master degree. I think not only it improves a person's technical skill, confidence and presentation skill, it also open doors.
Imagine you are working in KL now. What are the chances of you being able to get a job in New York, London or Hong Kong? Very low. Well, must one work in these cities to be good? hmmm..I would say it enhances your confidence and ability to look at something from a new angle. MBA in a foreign country open doors for you. U now MIGHT have a chance.
I dun deny that one can still do well even without a master. But that is a different route and too long (the discussion) to bring that in now.
I just feel that MBA is not a sure win strategy. So, if one decides to choose the MBA route, he or she must play it smart. Play it with positive NPV.
Tiu lor...why all of a sudden I am so serious??? Ha?? What's wrong with me? ha?
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