MBA - Help! - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Fobulous · 01-14-2009, 08:35 AM

Hello All,

I am at the point in my career where I am not quite sure if I want to continue what I am doing or take another direction...

For those of you that have a MBA... any advice you could give someone looking to do a MBA. Is it beneficial to an Engineer like myself? I have already taken the GMAT and got a 660 which seems to be good enough to get into the schools that I am looking at.

Also, I am currently evaluating the idea of going to a MBA school in the states. I am legallly permitted to do so (I am a permanent resident) and so I am looking to apply within the month.

Any advice is greatly appreciated.

Thanks,

-FoBulous.

burn_this_city · 01-14-2009, 08:42 AM

If you really want to set yourself apart from the other guys in engineering get a masters in project management or something similar.

Ozy_Flame · 01-14-2009, 08:46 AM

Nothing wrong with an MBA as an engineer; that's a pretty marketable skill set.

Fozzie_DeBear · 01-14-2009, 09:44 AM

A good combo for sure...

If you are interested in doing research a tip is that in some places you can do 'directed studies', so if you have a topic are interested in, and can talk a prof into grading you, you can create your own course and study what you want.

Fobulous · 03-13-2009, 11:08 AM

So here I am now 2 months later with quite the dilemma.

I have been admitted to 4 of the 5 schools that I applied to and now it is decision time.

I have a pretty good position at the company I work for and there are opportunities to (slowly) move up the corporate ladder.

On the other hand...

I quit my job and pursue my MBA (opportunity cost: Salary, Tuition, moving expense, etc.)

Are there individuals on CP that have there MBA? Are they glad they did there MBA? Has it created a great deal of opportunities?

Any help would be greatly appreciated...

Thanks!

Hammertime · 03-13-2009, 11:14 AM

Facing the same decision as you with a similar background.
Am leaning towards going part-time and prolonging the time in school to ride out the recession a bit. What did it for me was looking at the 08 and 09 MBA grad job prospects and realizing that even with the massive investment (80-100k+ opportunity cost), there is no guarantee I will make the same or even more post mba.

troutman · 03-13-2009, 11:16 AM

MBA is okay, but the WMBA is terrible.

SeeGeeWhy · 03-13-2009, 12:07 PM

I'm half way through the program at Haskayne. The MBA is like any other kind of training, it's only as useful as you make it. The letters aren't going to magically do anything for you.

Personally, it is helping me advance my career in more of a strategic planning mould in both my day job and in my entrepreneurial ventures, moving away from my undergrad training and first 5 years of experience as an engineer. That said, I had both of these initiatives working for myself before I went into the program. My decision to do the MBA was based on my desire to receive more training in order to assist me in moving in the direction I saw for myself. I'm positive that there is little value in doing it, just to do it.

Prospects in the traditional commerce world are looking rough right now, unless you're already connected. In my opinion, the timing decision (full time v part time) will probably come down to more of a quality of life decision versus an economic one. Part time is difficult, but you're advancing your career and earning a cheque. My opinion is that if you plan on staying in the industry that you're in... do part time. If you're looking to start from square one, just go full time and get it out of the way so you're not delaying the learning process any more than you have to.

A second piece of advice is to network as much as possible while you're there, and try to get into a program that will give you some international exposure (i.e. take a semester overseas).

The surveys that Haskayne releases on salary while entering vs salary after leaving the program is a little biased as the working students are typically at the point in their careers where they're specializing anyway and are experiencing the sort of boost in compensation that typically accompanies the traditional corporate 'golden handcuff' methodology. It's very hard to assess the "financial gains" that you'll receive from taking an MBA, but I can tell you that I know a hell of a lot more about business, money, the management mindset, etc than I ever did before - and I am positive that those learnings are going to help me a lot over the years.

What direction are you thinking about taking your career? Staying in Alberta oil and gas, or something completely different?

Fobulous · 03-13-2009, 02:21 PM

I am definitely interested in staying in Oil and Gas but am looking for a change in scenery (possibly relocating to Texas).

The schools that I have got into are all in the USA... one of the schools is actually ranked quite high and is one of the cheapest programs in the USA (Texas A and M, ranked 29th in the USA, total cost of program is under $30,000.00 + plus living expense).

My after MBA goals involve continuing to work in the O&G industry and at some point in time branch off and open my own business...

SeeGeeWhy · 03-13-2009, 02:33 PM

Quote:

Originally Posted by Fobulous

I am definitely interested in staying in Oil and Gas but am looking for a change in scenery (possibly relocating to Texas).

The schools that I have got into are all in the USA... one of the schools is actually ranked quite high and is one of the cheapest programs in the USA (Texas A and M, ranked 29th in the USA, total cost of program is under $30,000.00 + plus living expense).

My after MBA goals involve continuing to work in the O&G industry and at some point in time branch off and open my own business...

Sounds like a great opportunity. Does A&M offer a part time program? Why not look for a job that would re-locate you down there while allowing you to do the program part time and have them pick up the tab while you're at it?

I'd work for Denbury Resources in a heartbeat.

I've been doing some research on some of the older oil fields in Texas due to the high potential for CO2 flooding in those formations. Novel flooding and recovery techniques could really breathe life into a mature industry down there... and now would be a good time to buy.

Its a fun industry for sure... would you be interested in starting up an E&P or what sort of business are you thinking about?

Fobulous · 03-13-2009, 02:41 PM

Long term the plan is definitely to start up a junior E&P... however, I still have a lot to learn.

I am hoping the combination of past experience with a MBA would set me up to reach my long term goal.

As of right now I was admitted in the full time program... Texas A and M is located in College Station, TX where it would be difficult to find a company in my line of work to work for so I chose to just commit full time.

Now that decision time has come I am just second guessing whether or not I should do my MBA or not.

SeeGeeWhy · 03-13-2009, 02:52 PM

Well, the only other way you'll learn about running a business is going out and doing it and learning from your mistakes.

Depends on your confidence level, learning style, and access to capital.

If you're committed to starting up an E&P, having an Eng/MBA combo would be useful. Especially with contacts in Alberta and Texas... go for it!

Canada 02 · 03-13-2009, 03:08 PM

way back when, some companies would pay for your MBA in exchange for a long term commitment to the company after you finish. do such perks still happen given the current economic environment?

ah123 · 03-13-2009, 03:14 PM

Quote:

Originally Posted by Canada 02

way back when, some companies would pay for your MBA in exchange for a long term commitment to the company after you finish. do such perks still happen given the current economic environment?

The company I work for has that perk available for "high potential individuals" - in fact, one person I work with, is enrolled in an MBA program on the company's coin (atleast partially - don't know all the details, since I am not even supposed to know about this)

JohnnyFlame · 03-13-2009, 03:29 PM

Exactly the way my brother-in-law got his MBA. He was an engineer for a firm who paid him to take the course.

Fobulous · 03-13-2009, 03:40 PM

Unfortunately, I do not work for a company that is willing to take on the price tag of an MBA at this point in time.

I feel that my window to do a MBA is pretty limited... I have no kids right now so my wife and I are pretty flexible and can work with only one income at this point in time. I would ideally like to finish my MBA prior to having kids which we would like to do within 3 to 4 years...

Either way, it is going to be an extremely difficult decision...

Thanks for all the input thus far!

TylerSVT · 11-05-2010, 03:51 PM

Hate to bump an old thread but i'm looking into taking the GMAT and doing the MBA program.... same situation, not knowing what the future has in store is driving me crazy, the prospect of picking a proper career path is a difficult one.