Business School (MBA)

S

Stuck_At_Work

1,000+ Posts
What factors should one take into consideration when deciding on a business school? For the sake of this discussion, assume you are accepted to every business school in the US.

Also, help me understand the differences between the different MBA specialties.
 
If it is anything similar to law school, then 90% of it is prestige. Once you get to the school, they are probably all the same, but to put a certain name on your resume for the rest of your career, is highly important.
 
I was running the town lake loop on Riverside, and saw the "Action School of Business". Anyone know what that is? Is it like University of Phoenix?
 
What busterbrown said...you're not going to learn how to be Gordon Gecko or Michael Dell or Sam Walton at B-School, it all matters what university name goes on your resume and who you meet there.

My two cents also - if you've already got somthing of a career path that looks promising and you think getting your MBA will help you learn more and accelerate that process, don't waste your time/$$. Unless the specific company you work for is telling you it'll make a difference, or unless you're a 'non-business' person looking for a career change (my buddy in B-school used to sell yachts before going back), it's a waste of time.

FYI, I got my MBA from UT in 1992, right after I got out of undergrad. I know the current trend is for schools to look for people with 3-5 years' experience to 'enhance the classroom discussions', but I can't tell you glad I am I just got it over with immediately. When it comes down to it, class assignments are just class assignments, and all of that 'quality of classroom discussion' ******** just boils down to (a) 2 or 3 windbags talking to hear themselves talk, or (b) your professor engaging one of the windbags just to show how much smarter he/she is...
 
Ah, as a future business faculty member, I am interested in finding the right words for people in your position.

I didn't get an MBA, I got a more specialized degree in Marketing research. In my opinion it was a far greater investment than an MBA. Mostly because I was learning a marketable skill that others don't possess. (Well, that and it has helped immensely with doctoral research.

My advice is to go somewhere that suits you. Learn something. If you are at a Harvard and can learn with minimal professor-student interaction, great. Often "lower tier" business schools offer a better education simply because the faculty can work with students closer.

This is my plea. Don't just go get an MBA because it looks good. Learn it, and then use your education. This is far more valuable than a well-connected idiot.

Ignatius is right...networking matters. But once you've gotten the job, it's your skills that will keep you moving up.
 
It boils down to two groups: candidates with an undergrad business degree, and candidates without an undergrad business degree.

For students with business school backgrounds in undergrad, MBA programs offer a few things:

1. Networking: building up your Rolodex for future business endeavors;
2. Skill sharpening: two years to round yourself out and work on being a better speaker, etc.

The basic things you learned in undergrad haven't changed a bit, so the classroom learning is not that groundbreaking. But, you start focusing on business ideas and the "big picture" a bit more than you do working 50+ hours in an office job. Two years at grad school affords you the opportunity to immerse yourself in business news, seminars, forums, etc. and open doors to people that you can't do while working.

If you're a non-business undergrad, then MBA school teaches you the fundamentals of business that you need if you ever want to start a business or become a high level manager.

Prestige is important if you want to work in NYC, SF or Chicago. If you want to work in Texas, the Southwest or Southeast, then you should consider going "regional" and make contacts in that area while in school.

Finally, there aren't a lot of differences in MBA "specialties" other than your coursework. If you go to Wharton, you will probably become proficient in quant analysis and hard-core finance. If you want to be a marketing specialist, Kellogg is the place. But most MBA schools are generalists in nature, and the curriculum allows you to take a breadth of classes.
 
Acton was started by some of the entrepreneurial profs at McCombs/UT a few years ago. I'm sure it's awesome, but it's affiliated with Abilene Christian, I believe. So, your resume will lack some credibility with that, I believe...
 
"Acton was started by some of the entrepreneurial profs at McCombs/UT a few years ago. I'm sure it's awesome, but it's affiliated with Abilene Christian, I believe. So, your resume will lack some credibility with that, I believe..."

Since their focus is entrepreneurship, Acton is presumably for folks who want to form their own startup - those types are probably more interested in practical knowledge and less interested in resume prestige (since they would be their own boss).
 
B:

True. But it's pretty hard to raise capital with an MBA from Acton on your resume vs. Harvard, Stanford, Wharton, etc...

And every entrepreneur needs to raise money at some point.
 
As a current MBA student, I would say worry about fit, specialty, and region. First off, one of the biggest things you take away from b-school is your network. If you don't fit w/ your classmates, then a big portion of your money is down the drain.
Next, know where you want to go after school. I think there are five schools that are truly national: Harvard, Wharton, Chicago, Kellogg, and Stanford. After that, it depends on where you want to be. A UT degree will get you farther in Dallas than a Berkeley degree, even though Berkeley is technically ranked higher.
Lastly, find schools in your region that are strong in your area of study. This also helps with fit.

Overall, I think business school has been a great experience.
 
Raising money has very little to do with which B school is on your resume. It may help from a networking / connections angle, but an investor is not going to invest in one business over another based on which B school is on the entrepreneur's resume. Your business plan / product / results have significantly more influence.
 
So... can we focus this discussion on MBA specialty areas. I have an engineering background and have worked in the tech industry for 8 years. I'm looking to make a career change, but I'm not sure I know exactly what I want to do. I like the idea of corporate strategy and consulting. I wouldn't mind marketing or finance, but the marketing and finance people at my company don't really seem to enjoy their jobs (perhaps it is a culture thing at my employer). How can I learn more about the different areas of specialization?
 
FWIW, I also had an engineering background(software) when I got my MBA. I took a series of tests from the career center when I was there and it told me that I would like either finance, accounting, or engineering management career paths. I ended up with a dual concentration in finance and information technology. (I like them both)

I am now an engineering manager.
 
Stuck at Work,

If you are in Dallas, you might want to attend this Texas Exes event that just popped up in my inbox:

Event:
Texas Exes Dallas Chapter Insight into Industries Date:
Wednesday, February 11, 2009
6:00 - 8:00pm



Whether you are just starting out in your career, in the midst of building your career, or looking for a career change, building your network of UT alums can help.

Join us on Wednesday, February 11th for the opportunity to network with UT alums currently living in the Dallas area. You will also have the chance to meet representatives and fellow UT alums from the following industries/topics:
• Finance
• Real Estate
• Marketing
• Telecommunications
• Career Transition
Cost is $20 for Texas Exes members and $25 for non-members. Includes heavy hors d’oeuvres and 2 drink tickets.

Register today space is limited!

This event is sponsored by the Texas Exes, the Texas Exes Dallas Chapter and the Dallas Chapter of the McCombs BBA Alumni Network.
Location:
Vino 100
2909 McKinney Ave. Suite A
Dallas, TX 75204
map
 
My comment based on how thread is going so far.

MBA is fine and dandy if you want to get a J-O-B, totally unecessary and huge waste of money if you plan on starting your own business. And chances are, if you are thinki9ng you NEED an MBA to start your own business, you shouldn't be starting a business in first place.
 
Disagree. An MBA can give a non-business undergrad major the basic fundamentals of running his/her own business.

Do you need an MBA to come up with an idea? No. But to successfully execute the idea without giving up most of your equity to venture capitalists, then yes, you need an MBA.
 
I sorta see your point. Can't say that I've met any business owners who were not capable of sucessfully implementing their idea though - At least not any owners who are still business owners, which was sort of my point.
 
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