^ see my earlier post on undergraduate sorority mixers. Cha-ching! Although I was not on the cheerleader level.
I will be starting a hacksaw worthy mba program in the fall. Anyone got a saw i could borrow?
Although I think it is a decent school and a great program.
ksc1940:
Almost everything in life is “risky.” It boils down to your risk preference and potential payoffs. I see 2 benefits of an elite MBA. To use a finance analogy, it serves as both a put option and an out of the money call option. By this I mean that a top MBA serves as a form of insurance; it almost guarantees that you will have a decent six-figure professional job even when the economy is really bad. It may not be a job that you really want, but you won’t have to worry about paying your bills. Moreover, the network and other benefits you gain could potentially pay off big time in the future. For instance, let’s say you meet a good friend in b-school, and you end up founding a startup together that explodes. That would be one example of an “out of the money call option” paying off. Or to use even a more extreme example, you make a ton of friends who end up becoming very wealthy, and they help fund your first political campaign, allowing you to rise to the top of the power hierarchy. These examples are not common per se, but they’re not that rare either.
I see what you mean, but the cost of buying this insurance is large, and i know you may meet someone in business school and find the next facebook, but that’s clearly abnormal and let’s rule out this for a second.
Then you are facing the “incremental” income from MBA on top of your regular business degree (and CFA!), i don’t know how many years you will have to work to break-even. From this link, a Harvard 2 year MBA program is roughly 180,000USD:
http://www.hbs.edu/mba/financial-aid/Pages/cost-summary.aspx
which is somewhat consistent with this article:
http://poetsandquants.com/2011/01/08/how-much-does-a-top-mba-degree-cost/
Not to mention you are not working in the 2 years, so you have to take into accoun the salary you normally make…
I am not saying it’s not for everyone, if money is not an issue, go for it, if MBA is truly what makes you stand out, go for it, if you think the alumni network will benefit you beyond the costs, go for it.
For me, everything is risky, but some risks are not suitable for some, that’s not to say “high net worth individuals” should not take them.
ksc1940
August 27, 2013, 9:35pm
#86
numi:
higgmund – McCombs is a good school, though for all the reasons you mentioned as positive attributes, I was surprised you didn’t mention anything about the beautiful UT girls. I had dated a former cheerleader that went there for undergrad, and it was a really fantastic time while it lasted.
Impressive work, Numi. How the heck did you pull that off?
Yes, UT Austin undergrad has a lot of very attractive women. Can’t speak for the MBA.
Among top b-schools, I’ve been VERY impressed with the quality of women at HBS, Wharton, and Kellogg. Chicago Booth on the other hand…
^FWIW - I think the chicks at Texas Tech are hotter than at UT-Austin.
numi
August 27, 2013, 10:08pm
#88
There is an old Texan saying that goes, “even the sun shines on a dog’s a$$ somedays.”
Also, I agree with higgmond that Texas Tech girls are generally beautiful. However, one nice thing with the UT-Austin girls is that often you can find brains to go with the beauty. I’m willing to make the “trade-off” to get the better of both worlds.
ksc1940
August 27, 2013, 10:22pm
#89
NANA_Hachiko:
ksc1940:
Almost everything in life is “risky.” It boils down to your risk preference and potential payoffs. I see 2 benefits of an elite MBA. To use a finance analogy, it serves as both a put option and an out of the money call option. By this I mean that a top MBA serves as a form of insurance; it almost guarantees that you will have a decent six-figure professional job even when the economy is really bad. It may not be a job that you really want, but you won’t have to worry about paying your bills. Moreover, the network and other benefits you gain could potentially pay off big time in the future. For instance, let’s say you meet a good friend in b-school, and you end up founding a startup together that explodes. That would be one example of an “out of the money call option” paying off. Or to use even a more extreme example, you make a ton of friends who end up becoming very wealthy, and they help fund your first political campaign, allowing you to rise to the top of the power hierarchy. These examples are not common per se, but they’re not that rare either.
I see what you mean, but the cost of buying this insurance is large, and i know you may meet someone in business school and find the next facebook, but that’s clearly abnormal and let’s rule out this for a second.
Then you are facing the “incremental” income from MBA on top of your regular business degree (and CFA!), i don’t know how many years you will have to work to break-even. From this link, a Harvard 2 year MBA program is roughly 180,000USD:
http://www.hbs.edu/mba/financial-aid/Pages/cost-summary.aspx
which is somewhat consistent with this article:
http://poetsandquants.com/2011/01/08/how-much-does-a-top-mba-degree-cost/
Not to mention you are not working in the 2 years, so you have to take into accoun the salary you normally make…
I am not saying it’s not for everyone, if money is not an issue, go for it, if MBA is truly what makes you stand out, go for it, if you think the alumni network will benefit you beyond the costs, go for it.
For me, everything is risky, but some risks are not suitable for some, that’s not to say “high net worth individuals” should not take them.
Yes, I’ve already calculated the costs and for me I would happily take out $200K in loans for one of my top choice programs. Although paying off the loans will be painful it will pay off big time in the long-term.
numi:
There is an old Texan saying that goes, “even the sun shines on a dog’s a$$ somedays.”
Also, I agree with higgmond that Texas Tech girls are generally beautiful. However, one nice thing with the UT-Austin girls is that often you can find brains to go with the beauty. I’m willing to make the “trade-off” to get the better of both worlds.
I’m down for a girl with brains as well as beauty. I was seeing a girl from UT Austin law school for a little bit, earlier this year…good times.
ksc1940
August 28, 2013, 5:25am
#92
Yeah, I’m very much into smart attractive girls. Top b-schools actually have quite a few of them, and many of them are looking to meet their husbands in school! It’s a “target rich” field.
system
September 10, 2013, 2:29pm
#93
numi:
This thread is a farce. OP opens a thread asking if MBA is “waste of time” yet he’s not even in earshot of getting an MBA on his own. My inclination would have been to do do some research before posting an inflammatory subject line like this, but why should I be surprised? This is all from the same poster that thought getting compensation terms in writing might seem to be an “offensive” thing to ask an employer.
http://www.analystforum.com/forums/cfa-forums/cfa-general-discussion/91320286
You also wrote: “i also think that, for an engineer, would be better off with a finance quants type of master. In an MBA program you’ll learn all over again the basics of finance… waste of potential.”
^ Not sure why you seem to have such an axe to grind when it comes to MBA’s. Many schools have plenty of upper-level finance courses beyond the basic stuff, and in many cases if you’ve filled your basic requirements elsewhere (either through work experience or prior coursework) you can elect out of the entry level MBA courses. HBS is one exception where all students take RC during their first year, but just about anything is fair game for EC. So, I’m not really sure what you meant by “waste of potential.” Also, a “quants type of master” is mostly irrelevant for fundamental analysis and there are plenty of engineers that want to go to IM/HF, so why would you tell them to go pursue a quant degree?
AF should have a similar system to WallStreetOasis where people can either get silver bananas for saying something useful or get monkey sh!t thrown at them for providing misinformation. Weren’t we talking about a ratings system here a while back? What happened to that?
Respect. I’m getting tired of reading 22-25 year old know it all drivel.
