Hi all, just looking for thoughts and opinions on a complicated choice I have to make for my career over the next few months, regarding an MBA degree. Anyway here is the choice: Option A: Stay at dream job at Adobe making ~$50K + benefits. Do night school MSBA (Masters of Science in Business Analytics) program (which I'm currently accepted to). I received a $10K scholarship so total debt will be $20K, with graduation August 2018. Content includes statistics, quant-heavy stuff, coding with SQL, R, Python, etc. Option B: The same university at which I'm enrolled in the MSBA program said they'd offer me a full-ride scholarship based on my resume and GMAT if I would leave the work force. They would tailor a program that would earn me an MBA and MSBA (dual degrees) with the MSBA mostly being filled by elective slots along the normal MBA track. Graduation April 2019. (Total tuition value ~$65K for free, but I'd have to break my relationship with Adobe and potentially restart my job hunt from scratch and land a job where I'm less happy, however the MBA director says based on my experience and the dual degrees, I'd be looking at appx $110K starting salary upon graduation.) Also, I've always thought MBA's are kind of a joke. SO - the ultimate question is this. What does an MBA add to career potential that an MSBA won't on its own? Is the combination of the two as valuable as they're trying to sell? TL;DR version: MSBA + $20K debt + $85K earnings potential + keep dream job at $50K or MSBA + MBA + no debt + no job + $110K+ earnings potential starting 2019
Most MBAs add no real value. You are correct: they are a key to a club. There will be a point in your career where you will reach a certain level, and if you want to go into the next level, an MBA is almost a pre-requisite. It doesn't unlock the career path, its just a check box if you want to get a certain level in an organization. They are not always required, but they help tick the box. I kind of like your option A. That is getting close to a career in data science, and data scientists are naming their price. (By the way, you are underpaid). It is an emerging field that will develop its own leadership in the future. Data scientists are demanding 100K plus easily now.
I think you know it's Option B. Passing up the opportunity would be crazy and "dream" jobs don't stay that way forever.
Is a masters in business analytics even worthwhile? It seems like a watered down version of a masters in statistics (what a lot of people are calling "data analytics" nowadays). I'd be wary of that "$110k" starting figure they threw out at you. Have you seen the numbers for what recent alumni are making? I'm genuinely asking. Anyway, I'm having a really hard time buying that a combo of those two degrees would net you that much right off the bat. I feel like it's ~$85k for either. And getting both wouldn't move the needle much. Of course, if this is a top 10-15 school that would change. I'd go with option A and not think twice about it.
Option B for sure. Did Adobe give you an idea that Option A would measurably change your earnings? For what it's worth, I'm in analytics and learned all of the skills you outlined on the job. There are a ton of accessible, free resources to learn SQL and Python. R is a little more complex but definitely doable. I don't see that master's degree providing any real value to you. The MBA won't give you any content worth a damn, but it's a good signalling mechanism to companies and gives you nice networking opportunities.
Take B. Bang some college girls for a couple more years, weigh options school debt free. All that talk about MBA being overrated? That's when you factor in the cost of paying a luxury car every year, but otherwise having one opens more options than pure experience alone.
Thanks for the replies, everyone. I am certainly underpaid, but I'm not in a pure data analytics role, Adobe is notoriously hard to crack into so I just took a contract consultant role. I'm already leading a big project with managers in multiple states and should be delivering a big database project soon, so there's that. Both options come with risk because it's very probable but not guaranteed that Adobe will sign me on long-term. I'm 29, 30 in December. 5-6 years of experience as an inventory analyst, category manager, strategy analyst. I've already acquired various skills like SQL, VBA via web courses so I agree with you to an extent -- but I was unemployed for nearly 6 months in silicon slopes (Utah's equivalent of silicon valley) after interviews with nearly 30 companies because so many other candidates come with hard credentials (I was working for a small company that suddenly closed its doors - long story). The MSBA degree will provide hands-on consulting experience and a tangible degree saying "hey, I can do data analytics, and not just because I say I can." Or at least that's my thoughts? Very fair feedback. The 110 and 85 figures were quoted by the UofU's MBA director, but they also match the Univ of Texas' school of business placement statistics (MSBA and MBA). When you see it as a watered down masters of statistics (which is probably fair), I see it as a beefed up MBA; just like a key to a club except with actual technical skills on the side. I'm not pursuing a masters of statistics or IS because my career goal isn't to be a back-end engineer of sorts. I like the front-end aspects of business, like being a jack-of-all-trades project manager with the technical skills to be a problem solver, but not necessarily the subject matter expert. However, I also feel like an MSBA + MBA is probably going to rank me above contenders with just one or the other when it comes to winning the rat race for interviews. Who knows. Finally - I'd be liable for about $20K with the MSBA alone, but I essentially ride free if I add the MBA. Hard to really lose with a full-ride, right? Especially if I take advantage of the consulting/internship opportunities and really work with the career staff. Adobe did not give me that indication, but that's because I'm relatively new (about 4 months). I accepted an entry-level data analyst position in their finance department just to get my foot in the door. I'm already delivering good projects and such, so I'm confident but I would have to put in work to parlay my experience and degree into the job I'm looking for here. Assuming I can move into a more relevant position, the pay would certainly be there. That's why I'm wondering if the MBA would help in that regard, too.
1. Forget the $110 number. It might be even be true, but he's using that number to persuade and manipulate you. If you're good at what you do, you'll sooner or later get to that number and beyond. If you suck, you won't be able to keep a salary like that, no matter your degree. 2. Why is the Adobe job the dream job, and what do you want to do for work? It would seem to me the MBA will help you secure more leadership roles that take you away from the nuts and bolts of analytics. But you might not want that. If you do want to have the responsibilities of leadership, get the MBA; it'll help. 3. If you've already developed relationships with Adobe, it's reasonable to think you could get back in. Be sure to put in some work to keep your relationships cultivated while you're away, if you go that route. 4. Are these really your only options? Might there be some other school that would give you both degrees in a weekend-program format that lets you keep your job?
I was going to say "Option C - Do nothing" because you said that you already have your dream job. But sounds like it's actually a contractor job? If so, I wouldn't put too much into the Adobe basket. You also said that you were unemployed for 6 months because other candidates had hard credentials. So it makes me think you already know it is better to have both of those degrees. Does the full ride include room & board? Or tuition only? Something to think about if you won't be working during that time.
1. I'm not big into numbers or salaries anyway, so I agree with your advice. What I'm most interested in is the potential/flexibility to get my foot in the door for various jobs. To be a viable candidate in the eyes of employers. 2. Adobe is the dream job because it's the full package. Amazing benefits, best quality of life I've ever seen at a professional job. I'm running at the gym daily for the first time ever. Some weeks I come in at 9am and leave at 2pm just because I feel like it. I can work from home whenever I want. I have ultimate latitude on my projects and I am the source of ideas and innovation, my manager just makes sure that it's aligned with adjacent departments goals. I help build datasets for the sales and marketing teams and give them all kinds of views and insights that they've never had before. I collaborate with teams in San Francisco, Bangalore and Bucharest. I just see a lot of value I can add and I feel super at ease with the culture. 3. My chances with Adobe are better than reasonable, it's just a gamble worth considering. Once I have the school's firm offer in hand, I will go to Adobe leadership and see how they feel about the situation. Adobe does $10k/year in tuition reimbursement, which could help option A. My manager has already encouraged school and said she understands the decision from my perspective. 4. Of course there's always a lot of options in life, however here, now, specifically, yes these are the two best options. I live in Utah so school choices are relatively limited. I'm a BYU undergrad but I don't like their graduate school options (not much by way of analytics). The Utah MSBA program is relatively cheap since I'm now an in-state resident ($30K minus $10K scholarship, and only a year long program. Hard to argue with.)