Master's Degree

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Replies

  • 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: 2,353 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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