Advice needed: Continue 5yr BS/MBA or pursue MBA later on?

[rubey419]

Long time listener, first time caller.

I'm a college student attending a low-tier small private school in the Southeast. Unfortunately, not having a good mentor with the expertise such as yourselves until recently with the discovery of this forum and others, I was stooped into buying into my school's Finish a MBA in only one extra year! diploma mill campaign and am now just two classes away from finishing my dual BS/MBA.

Of course, I realize my error now and that any MBA worth having requires work experience and should be ranked in the top 10-20 (which my university is faaarrr from). My original career goal was to go into healthcare administration at a mid-sized or VA hospital and work my way up, where the MBA prestige perhaps has less bearing. But now I am looking into proverbial forks in the road...what if I want to become a healthcare consultant (which I've started to become pretty interested in as of late)? Or go into the executive level at a major hospital system? Then of course a Tuck or Fuqua will be looked upon favorably by McKinsey or MD Anderson than my no-name B school, ceteris paribus. And I know that prestige will only matter more as my generation navigates the competitive job market now and decades into the future. Again, wish someone had told me this earlier! But I don't have the MBA paper yet so its not too late I hope...

So two choices I'd appreciate input on:

1) Finish MBA from my low tier program. Do the classic way of working hard, networking, and getting experience to progress my career. I can also get a MHA or MPH from a good school (Cornell, Columbia, etc) but will the completed MBA from my current low tier program put a taint on my CV? As how a University of Phoenix masters degree looks worst than having a masters at all (ex. Looking from the perspective of Consulting Firms)? Other points to consider: MPH or MHA programs are less competitive than MBA, but there is the added opportunity and tuition costs obviously, and can I explain to the adcom how having the prior MBA would not be redundant as a suitable MHA or MPH candidate?

2) Quit the MBA as sunk costs, work for experience, then go for the top B schools later. Would I be able to explain in my application why I quit my earlier program? As in, is the reason of "buying the prestige and networking" a good enough excuse to start a new MBA program years from now when I was almost finished with my current, assuming even if I could get into a top 20?


Any constructive feedback is welcomed. Harsh, or otherwise. Thank you!

 

[austinite]

While I personally think the entire concept of an MBA/undergrad degree is very silly, I think that if you are two classes away from the degree, then just go ahead and get it. You should get some work experience before worrying about potentially going for a more prestigious MBA.

I think college students sometimes see careers as being far more linear than they really are. You don't need a specific set of degrees to achieve the career path you are looking for. You also may find that your interest lies elsewhere. Finally, considering that the time and money spent is already a sunk cost, I don't see how obtaining a degree can make you worse off than before (unless it is the University of Phoenix!).

 

[Allen Smithee]

While I personally think the entire concept of an MBA/undergrad degree is very silly, I think that if you are two classes away from the degree, then just go ahead and get it. You should get some work experience before worrying about potentially going for a more prestigious MBA.

I think college students sometimes see careers as being far more linear than they really are. You don't need a specific set of degrees to achieve the career path you are looking for. You also may find that your interest lies elsewhere. Finally, considering that the time and money spent is already a sunk cost, I don't see how obtaining a degree can make you worse off than before (unless it is the University of Phoenix!).

+1

 

[jbarwick]

I just got a new position and my MBA is a Top 50 school and the hiring manager said that had a bearing on me being selected. I was up against a local MBA candidate.

Also you are looking at healthcare which happens to be my industry. An MBA with some sort of healthcare focus could help you in getting in with the hospital administration aspect. Having worked at the corporate office of these large hospital groups, field experience (working at the hospital level) will help with promotions in the future. It also helps which hospital in the system you came from. It seems the larger facilities are favored. Good luck and PM me if you have more questions.

 

[rubey419]

Thank you all for your replies. Austinite, I appreciate your perspective. My only worry, in the "linear" outlook you suggested, is that my mentioned outlook is pessimistic, and that years down the road as more and more kids get their graduate degrees, brand name becomes even a bigger variable then it is today. I just don't want to have a low tier degree potentially hampering my ambitions (whatever they may be and if I may be so bold to reason myself in a position to achieve such high aspiration...applying to the executive level at Johns Hopkins or whathaveyou). But of course I do recognize my sunk costs as well, or the opportunity cost of starting all over again at another MBA program.

If anyone else has any advice, please feel free to add. Jbarwick, PMed you. That scenario you mentioned about your new position is exactly what I am afraid of.

Thank you again!

 

[akatsuki]

I don't have an MBA (I have other advanced degrees), but just finished working at a top 3 consulting firm in the healthcare space. As an outside observer - school matters... a ton. If you think you can leverage into a decent job somewhere as well as eventually into a top MBA, I'd abandon the current MBA. If you are just going to end up at a mediocre MBA program anyway, then go ahead and finish it.

 

[papa kot]

You're thinking way too much for somebody in your position. Obviously, you should finish your coursework as you're only 2 classes away. Then work, network and see what's out there before you make a commitment. I know that today you know exactly what you want to do... But there is a chance that tomorrow you'd want to do the opposite.

Do school matters? Yes, mostly for networking.

 

[CTLION]

My thoughts on the subject.

I am 40 years old and am fairly high up within a multi-billion dollar healthcare company. I do not have my MBA but have considered pursuing one. You don't need an MBA to make six figures that is for sure. However, I will say that an MBA is a check mark for an HR person looking for a reason to narrow down the piles of resumes that arrive for a certain position. I am a fairly good example. My career and accomplishments in my field are in the Top 5% of my peers. I have worked for name brand companies and have over achieved. I have built a healthcare company from scratch. So I have the accomplishments that students hope for when they pursue an MBA.

All that being said, when I was looking I would send out my resume for jobs in which I should have been a no brainer, at the very least for an interview and the phone wouldn't ring. I believe the MBA can be a reason to discard your candidacy.

I am in a different spot than you, and my lessons could help you. Can you make great money without an MBA? For sure. But not having my MBA could cost me a shot at becoming a CEO of a billion dollar company. It could cost me the opportunity to become an Executive VP. So I believe there is a ceiling. The question I ask myself is...do I want that? The answer is more often yes than no. I like to make decisions...I like to command a room...I like it when the buck stops here. But that is my path, and I would never presume to tell someone what their path should be.

 

[fivepesoutsss]

i agree with you,I was looking I would send out my resume for jobs in which I should have been a no brainer, at the very least for an interview and the phone wouldn't ring. I believe the MBA can be a reason to discard your candidacy.thank you

 

[Concordia]

Check in with an admissions office from a top program. Would they ever give a second MBA? Or would being two courses short of an MBA be a penalty in admissions?

Another option is that business schools offer degrees other than an MBA. Yale now has a 1-year degree for more advanced, post-MBA folk, and Dartmouth has something aimed at people wanting to do healthcare strategy. There are almost certainly others.

 

[rubey419]

...

Thank you again for your input and allowing me to PM.

Quote:

So that bolded part above is actually what I am speaking to. Originally, I was totally happy being a general administrator at a hospital where the MBA prestige may not matter as much, but now I am looking towards other paths where the branding may matter a whole lot. So the purpose of this thread was for me to get advice from you all who "are in the know" (since I don't have that kind of mentoring in real life unfortunately) as to which route has better marginal utility for me in the end, with the given that I obviously don't know where my career will ultimately take me. To see if postponing or dropping my current program now and accepting the huge sunk costs is outshined by potential prospects of a top MBA later on. For the unforeseeable chance as you mentioned that I end up in the competitive climate of healthcare consulting or beyond where prestige and networking will matter more. I am leaning towards postponing now due to the expert advice I am gathering so far. But your input is greatly valued, as I'd hate to throw away all of my work so far!

Check in with an admissions office from a top program. Would they ever give a second MBA? Or would being two courses short of an MBA be a penalty in admissions?

Another option is that business schools offer degrees other than an MBA. Yale now has a 1-year degree for more advanced, post-MBA folk, and Dartmouth has something aimed at people wanting to do healthcare strategy. There are almost certainly others.

Generally a program won't award a second MBA, but that other point you made (about the two courses) is something I considered in my original post, and indeed will have to be justified to say why I dropped out of my original program. I am hoping the AdCom understands a "cut through the cake" real-world mentality that I'm applying to their top program for not specifically the education per say, but for the branding and the networking.

I'll look into that Yale Master of Advanced Management, never heard of it so thank you. Although I understand it'll probably be reserved for when I am in the middle of my career and not the start. Dartmouth does have a 1-year advanced MPH and 2-year MPH/MBA that I am looking at too.

Again...options options.....could just as well finish my low-ranked current MBA now and hope that the prestige of a MPH or MHA from a top school holds up the weight. But again from what I've been getting from certain knowledgeable individuals....that low-tier MBA will still be a cancer on my CV and that they recommend not finishing it. :-/