Master's Degree

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Replies

  • vjohn04
    vjohn04 Posts: 2,276 Member
    I have an MBA in Marketing. It was extremely useful--- for my company. Do I use much that I learned? Some.... because I'm in sales, I picked up quite a few useful tools.
  • toughmudderMN
    toughmudderMN Posts: 129 Member
    If you are going for Portfolio Management then the CFA is a MUST. I assume that you are debating between a masters in finance vs the CFA. Depending in what area of finance you are looking to get into one is better suited. In the investments area, CFA has a better ROI. The Masters is only good if it is from Wharton or some other ivy league. However CFA has less value in the corporate area.

    I was working on my CFA 1 until I took a job in corporate finance, then I stopped studying. It is worthless in the corporate area unless by some stroke of luck you can get into your company's investor relations area.
  • HypersonicFitNess
    HypersonicFitNess Posts: 1,219 Member
    Yes and Yes.

    I have a MBA in Finance and it accelerated my career. After graduation, I did start out in an entry level job because I didn't have prior experience however I advanced/was promoted (pay raises included/bonuses) every year in my field.

    My pay multiplied 316% in the last 12 years....I would say it was WELL WORTH it and like I said, promotions as well in terms of duties/job level/title.

    It's a lot of work, but it pays major dividends.
  • angryjake
    angryjake Posts: 39
    My MBA is the single biggest mistake I've made in my life. MBA level jobs don't want me because I don't have the experience they want; sub-MBA jobs see the MBA on my resume and don't want me because they assume I'm just looking to move on to something bigger as soon as it comes along. In seven years, I haven't used it yet and doubt I ever will.

    But I will be paying the (now with seven years of interest tacked on) $72,000 loan off for the rest of my life.

    That's not to say the degree is worthless. Most of the people in my cohort were getting theirs on their companies' dime and were getting them to help them advance within the company. For them, it was quite successful. But for those of us thinking "career change," it--no exaggeration--ruined lives.
  • HypersonicFitNess
    HypersonicFitNess Posts: 1,219 Member
    If you are going for Portfolio Management then the CFA is a MUST. I assume that you are debating between a masters in finance vs the CFA. Depending in what area of finance you are looking to get into one is better suited. In the investments area, CFA has a better ROI. The Masters is only good if it is from Wharton or some other ivy league. However CFA has less value in the corporate area.

    I was working on my CFA 1 until I took a job in corporate finance, then I stopped studying. It is worthless in the corporate area unless by some stroke of luck you can get into your company's investor relations area.

    ^^ Agree with this If possible do the CFA first, then MSF both will be critical in Portfolio Mgmt.
  • HypersonicFitNess
    HypersonicFitNess Posts: 1,219 Member
    My MBA is the single biggest mistake I've made in my life. MBA level jobs don't want me because I don't have the experience they want; sub-MBA jobs see the MBA on my resume and don't want me because they assume I'm just looking to move on to something bigger as soon as it comes along. In seven years, I haven't used it yet and doubt I ever will.

    But I will be paying the (now with seven years of interest tacked on) $72,000 loan off for the rest of my life.

    That's not to say the degree is worthless. Most of the people in my cohort were getting theirs on their companies' dime and were getting them to help them advance within the company. For them, it was quite successful. But for those of us thinking "career change," it--no exaggeration--ruined lives.

    Hmm, wondering about this because I get job offers on a daily basis and have never been unemployed. It could be one of two things: the industry specifically that you are in or location that you are in for jobs.
  • cheers_b
    cheers_b Posts: 74 Member
    I use mine. ????

    use and utility are relative terms.....I went back as a "mature student" and received mine -- and grateful i did it. It was a grind but has paid off in many ways: My kids got to witness first hand their pops working the books, sacrificing tv etc to reach a major goal. I have made a network of peeps that are invaluable and have led me to their network of peeps. I recieved a promotion as well as negotiated better compensation due to my new found qualifications --an in addiiton it made me more marketable to other business which enhanced current employer"s interest in keeping me happy. and finally self-fulfillment; i took on a challenge that made me stretch at a point in my life that i could have just "settled", and by doing that have reached a new level of confidence, intelligence and general positive outlook that hopefully will remain with me for the duration.
    I realize everyone is in a diff boat - and payback is unique to each situation--but atthe end of the day why not? Listing Pros and Cons are a great way to crystalize the picture..........best of luck to all and enjoy the journey.
    cheers
    b
  • dennik15
    dennik15 Posts: 97 Member
    I've considered getting an MBA every year since I graduated college and have yet to follow through. Initially I thought that it would help me advance in my chosen field (accounting). I've since learned that having a CPA is the better way to go if you want to move up the corporate ladder quickly. However, I've not been held back by "merely" having a BS from a well respected school. My career is where I want it to be for the moment and my salary has increased by just shy of 600% in the 19 years since I graduated college (geeze...that's a damn long time, lol). In short, I'd say the certification is the better and cheaper way to get where you want to go, at least in finance. Just my two cents :drinker:
  • cbarn025
    cbarn025 Posts: 939 Member
    If you are going for Portfolio Management then the CFA is a MUST. I assume that you are debating between a masters in finance vs the CFA. Depending in what area of finance you are looking to get into one is better suited. In the investments area, CFA has a better ROI. The Masters is only good if it is from Wharton or some other ivy league. However CFA has less value in the corporate area.

    I was working on my CFA 1 until I took a job in corporate finance, then I stopped studying. It is worthless in the corporate area unless by some stroke of luck you can get into your company's investor relations area.

    My ultimate goal is to run a hedge fund. I want a law degree as well and I think I could multitask law school with studying for the CFA. I've bounced around a bit as far as fields. I use to work for Fannie, now I work for a law firm. I like what I do now but it's not the end goal.
  • Rosplosion
    Rosplosion Posts: 739 Member
    I live in a town where >35% of people my age have a BA/BS and >15% have masters or greater. So there is tons of competition for me. I have not used my BS degree in the slightest, although I know without it I would have been passed up for interviews. So, I paid $$$$$ for interviews. AWESOME.

    I'm getting a Master's degree starting in the fall. It really depends on what you want to do.I would do research in the field you are looking at and the area where you want to work.
  • bio01979
    bio01979 Posts: 313
    My MBA is the single biggest mistake I've made in my life. MBA level jobs don't want me because I don't have the experience they want; sub-MBA jobs see the MBA on my resume and don't want me because they assume I'm just looking to move on to something bigger as soon as it comes along. In seven years, I haven't used it yet and doubt I ever will.

    But I will be paying the (now with seven years of interest tacked on) $72,000 loan off for the rest of my life.

    That's not to say the degree is worthless. Most of the people in my cohort were getting theirs on their companies' dime and were getting them to help them advance within the company. For them, it was quite successful. But for those of us thinking "career change," it--no exaggeration--ruined lives.

    I think that depends really, my sister did her MBA at LBS and pretty much everyone that graduated with her has used it and did need it. But you did need some experience just to get into the program (at the time no idea now). And part of the program was working in a placement during the summer in between the 2 years. She has used her MBA very successfully :)
  • runner2runner
    runner2runner Posts: 1,937 Member
    Anyone have one and finding it to be especially useful? I have been considering going to grad school but everyone I know with a Master's isn't really using it. I think the time would be better spent trying to obtain CFA status.

    I'm currently busy with my Masters degree in Visual Arts! I guess time will tell whether it'll be useful or not!! What are you thinking of studying?
  • Lift_This_
    Lift_This_ Posts: 2,756 Member
    I have my masters degree in Organizational Management, but having a hard time using it. I need to move to a big city if i want to find any chance of using it.
  • chrome_princess
    chrome_princess Posts: 129 Member
    I have a Masters and I have spent more time hearing "you're overqualified" than anything else.

    In my current job, do I use it? No. My degree and my job do not really coincide. But, to be fair, my degree was very specialized (MFA in Mass Communications - with a focus on First Amendment Law).

    HOWEVER, that said, I think it was a great experience to get it (I was going to school and working full-time.) Nothing like learning to be grace under fire.

    Did I think I was going to go crazy? Yes. But looking back, I'm glad I did it, even if it didn't advance my career like I wanted it to.
  • chubby_checkers
    chubby_checkers Posts: 2,352 Member
    My MBA is the single biggest mistake I've made in my life. MBA level jobs don't want me because I don't have the experience they want; sub-MBA jobs see the MBA on my resume and don't want me because they assume I'm just looking to move on to something bigger as soon as it comes along. In seven years, I haven't used it yet and doubt I ever will.

    But I will be paying the (now with seven years of interest tacked on) $72,000 loan off for the rest of my life.

    That's not to say the degree is worthless. Most of the people in my cohort were getting theirs on their companies' dime and were getting them to help them advance within the company. For them, it was quite successful. But for those of us thinking "career change," it--no exaggeration--ruined lives.

    I don't regret getting it, but have yet to get a job in the 2 year's I've had it. I also got an MLS (library science) and library funding went down the toilet 6 months before I graduated. I apply for an average of 6 jobs a day. It's not for lack of trying!
  • sakuragreenlily
    sakuragreenlily Posts: 334 Member
    here's what you do: find people doing what you want to do. Then, see what degrees they earned. Then, get that degree.

    Couldn't agree more.

    I use my master's degree directly without question. I got my master's degree and then my specialist degree in education because I have to have those degrees in order to be licensed in my field, BUT had I been in a different field I really would have reconsidered.

    My fiance has his master's degree in computer science and uses it basically to distinguish himself a little bit from candidates who only have the bachelor's degree. In a lot of fields though it won't make too much of a difference other than making you seem a little over qualified if your experience limits you to applying for entry level positions.
  • arc918
    arc918 Posts: 2,037 Member
    I'm a CPA with a masters in taxation. It was a great use of time and money (went back to school after working for 4 or 5 years), as my masters threw my career in a whole new (better) direction. I also have a CFP and some other financial planning designations.
  • lisapr123
    lisapr123 Posts: 863 Member
    I'm going with the "depends on your field" answer for sure. I worked in finance and being a CPA meant way more than an MBA. My husband is in IT Project Management and although his MBA didn't actually help him land the job (he was with the company before he got it) I think it makes him seem more knowledgeable to outsiders. It did not get him more pay or more clout, but it was a personal achievement.

    And the contacts we made have been priceless. He did a one year lockstep program (with the same people the whole time) and it's filled with VP's and Directors of large firms in the area who we have become great friends with.

    If you want it, and you can afford it without taking out loans....I say go for it!
  • icimani
    icimani Posts: 1,454 Member
    You know what they say...

    BS = Bull ****
    MS = More ****
    PhD = Pile it Higher and Deeper


    Especially in the computing flield degrees are becoming less and important.
  • patrickblo13
    patrickblo13 Posts: 831 Member
    I wouldn't be in the position I have now if I didn't have my masters. My masters degree helped me get into this company in the first place and I have been promoted over others due to my management degree.
  • Espressocycle
    Espressocycle Posts: 2,245 Member
    I wish I had gotten one years ago. I've been struggling to find a better job for years and although none of the jobs I've been turned down for required one, I probably would have gotten one of them with an MA or MS after my name. Then again, I'm in communication where there are no real certifications, licenses or even especially verifiable skill sets.
  • Espressocycle
    Espressocycle Posts: 2,245 Member
    Check out http://www.theamericancollege.edu/, good place to go for CFA and a related masters, mostly online.
  • alpine1994
    alpine1994 Posts: 1,915 Member
    I'm a CPA and have an MBA and a Master's in Accounting and I got my current job solely because of my CPA. All my Master's degrees do is take a crapload of money out of my bank account every month for the next 15 years. If I could go back, I would get my CPA first, get a job, and then have my company pay for my master's degree if things were going well.

    http://www.businessweek.com/bschools/content/apr2011/bs20110426_844533.htm

    This article expands on my advice.
  • jess7386
    jess7386 Posts: 477 Member

    My ultimate goal is to run a hedge fund. I want a law degree as well and I think I could multitask law school with studying for the CFA. I've bounced around a bit as far as fields. I use to work for Fannie, now I work for a law firm. I like what I do now but it's not the end goal.


    Trust me as a lawyer that you won't be able to multitask law school with anything else. I'm not one to talk anyone out of a degree, but make sure law school is absolutely what you want before you do it. It's expensive (ridiculously so) and the job market for lawyers sucks. Also, prepare to factor in 4 months to study for the bar exam(s), about 4K for a prep class (essential), and about 2K in bar applications and dues your first year.
  • jess7386
    jess7386 Posts: 477 Member
    I'm a CPA and have an MBA and a Master's in Accounting and I got my current job solely because of my CPA. All my Master's degrees do is take a crapload of money out of my bank account every month for the next 15 years. If I could go back, I would get my CPA first, get a job, and then have my company pay for my master's degree if things were going well.

    http://www.businessweek.com/bschools/content/apr2011/bs20110426_844533.htm

    This article expands on my advice.

    Also, this is exactly what my fiancee is doing (or at least very similar!) He got his BS in finance, worked for a company who has paid for his MBA and is now paying for his Masters in Accounting, and he will sit for the CPA exam next spring when he is done.

    +1 for having someone else pay for your school.

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