MBA/ MS choices

Discussion in 'General Distance Learning Discussions' started by philosophicalme, Feb 2, 2006.

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  1. philosophicalme

    philosophicalme New Member

    The queen of indecision wants your opinion about graduate programs!! :)

    A little background...

    I am 25, a Cost Analyst for a Department of Defense contractor, I work closely with Project Management, my job deals specifically with tracking direct and indirect costs, defining project risks, calculating cash flow and profit, working with Earned Value Management Systems, assisting with proposal development and the like...

    Now, with that experience on my resume, a BS in Liberal Arts with concentrations in Business and Psych, and a Master Certificate in Business Management from Tulane University, which grad degree would make the most logical choice?

    MS Project Management
    MBA General
    MS Management

    The MBA Finance programs that I have seem are more concerned with Investment Management than Corporate Finance. Same goes for MS Accounting degrees. I also have no previous classes in Finance or Accounting...

    Now, which would you choose and why?

    Rhonda
     
  2. Tim D

    Tim D Member

    How about an MBA in project management?
    http://www.distance.msstate.edu/mba/prospective.html

    Mississippi State University offers a moderately priced MBA program(fairly cheap for being AACSB)$430/credit hour
    Distance MBA-PM Program Cost (without Survey Classes) $ 13,776.00

    Alternatively
    Distance MBA Program Cost (without Survey Classes) $ 12,915.00.


    I think I'd lean more towards an MBA or MS in project management before I went for an MS in management. All three degrees serve their purpose. I personally think the MBA and the MS in project management are a little more advantageous in the job market.

    Also for a list of MBA programs, check out Johnnies site:
    http://www.geocities.com/SiliconValley/Haven/2386/distance.html

    I personally am kind of partial to Morehead State's MBA program:
    http://www.moreheadstate.edu/mba/
     
  3. PhD2B

    PhD2B Dazed and Confused

    From one cost analyst to another, I would go with an MBA program. I am working on a PhD in BA with a Business Quantitative Methods specialization so I can focus my research efforts on more cost related topics. I don't think an MBA with a Finance specialization will do much for a cost gal like yourself, but a general MBA or a technology or quantitative focused MBA may help you in your job and look good on a resume.

    Just my $0.02. ;)
     
  4. scubasteveiu

    scubasteveiu New Member

    Hello Rhonda,

    I guess it depends on what *you* want to do long term (or short term). They are all great options, however I do feel the MBA is more well rounded. MS in Proj Mgmt is another great choice, however I would think about getting the MBA and doing the PMP. Not to say the MS in Proj Mgnt would be limiting, however, the MBA might open more doors later on (should you choose). The MS in Mgmt would be my third choice.

    Another thing to think about - prerequisites. Depending on the MBA, Mgmt or PM program, you may need to take some accounting, law, finance, etc ... so just be sure to weigh that as well.

    The MBA-PM looks good.

    ... also, it is nice to see someone younger than myself on the board. : )
    (27 in march)



     
  5. philosophicalme

    philosophicalme New Member

    Hi Steve,

    It's good to see someone around my age too! Your advice to get an MBA and then my PMP certification is sound. I am going to start studying for the CAPM certification in a month or two. That will be a nice stepping stone until I can get some PMI certified hours and more experience. Thanks for your reply!!

    Rhonda
     
  6. aic712

    aic712 Member

    I would also recommend the MBA-PM degree, I have people ask me for "project management" related courses all the time, I wish we offered something like that :(

    Take it from another youngin (26)
     
  7. Pugman

    Pugman New Member

    Hi Rhonda!

    I agree with Steve regarding the MBA and PMP. It could look something like this:

    Step 1 : Enroll in an inexpensive MBA (Amberton/Dominguez Hills etc.)
    Step 2 : Do a 3 day 'Guaranteed PMP' bootcamp & nab the PMP (Velociteach/Cheetah/etc.)
    Step 3 : Finish with a Six Sigma green belt from ASC or Motorola U (25 cont. education credits for pmp).

    Your employer may cover PMP/ASC expenses as well as Masters degree (good question to ask).

    What is nice is that it balances theory (MBA) with practice (professional certifications from ASC and PMP) and should pay dividends in the short term ...as well as long term.

    Hope this helps.

    Greg
     
  8. friendorfoe

    friendorfoe Active Member

    Well...I'm kind of young 28yrs old and re-evaluating things after I bought the book "the Ten Day MBA" which I recommend to anyone considering an MBA. I was all but sold on the MBA at SJCME...(and still may be) but recently, finances, my career, my family life and some soul searching has lead me to keep looking. I looked into Amberton University MS in Managerial Sciences, which I can attend all costs paid, I like the program, but it is not an MBA.

    The soul searching came in when I was reading the Ten Day MBA and started to realize, I hated that stuff. I just don't care. “Yada yada yada Marketing”....when a voice in the back of my head is yelling "who cares?" I'm interested in management, leadership, ethics and law. I really don't care for business, finance or psychology. I've learned this within the past few months through both my studies and outside reading....it's amazing what you learn about yourself when you stop watching TV cold turkey.....I read even when relaxing now.

    So really you have to be honest with what you are interested in. I've decided business does not interest me and doing 2 years of hard-core deadline based study on it sounds as appealing to me as eating my keyboard does.

    So, what are you INTO.....don't worry about the degree....if you're not into the study and you ultimately get a job that you are not into because you qualified yourself for it through that study...you're going to suck at it anyways….or wind up jumping off of a tall building.
     
  9. skidadl

    skidadl Member

    Hey gal, I'm leaning towards going a route somewhat like the suggestion.

    I have found a real nice MS-PM degree that is 30 credits and accepts 15 hours in transfer:

    http://www.uwplatt.edu/disted/#

    I am thinking about enrolling in an MBA program, doing 15 credits, rolling those 15 over to UW and doing the MBA concurrently with the MS-PM.

    Don't know if this will all work out but I am going to give it a shot.

    In theory, it would cost me 45 credits to get both degrees.

    Just some thoughts.
     
  10. philosophicalme

    philosophicalme New Member

    Wow, Friendorfoe, this post really hit home. At this point in my life, I feel like I have to continue on and get my Master's or MBA. I'm not necessarily excited about it though. Maybe that's why I keep asking so many questions about programs and schools? Right now I am studying for about 10 Psychology exams and I find that same inner voice saying "who cares?". I am just getting my Bachelors to get that piece of paper, so I am sticking with it and finishing it out. I also don't care for Finance and especially not Accounting. I am interested in Human Resources Management and General Management though, but it would not seem like a wise career choice to stray from my Cost Analyst experience to go into a new field. :( Maybe I will try to stop fooling myself and do some soul searching too.


    Rhonda
     
  11. foobar

    foobar Member

    How does a cost analyst "especially not like accounting"?
     
  12. philosophicalme

    philosophicalme New Member

    By doing too much of it :)
     
  13. philosophicalme

    philosophicalme New Member

    Seriously though, I just find it boring and tedious...
     
  14. PhD2B

    PhD2B Dazed and Confused

    It's a terrific career field otherwise. :D

    On a serious note, I believe this is why my department has such a high turnover rate.
     
  15. Ted Heiks

    Ted Heiks Moderator and Distinguished Senior Member

    Let's see here. The fact that you work with Project Management does seem to make the MS Project Management a logical choice. The part about dealing with tracking direct and indirect costs, calculating cash flow and profit, and working with Earned Value Management Systems seems to relate to cost accounting, managerial accounting, and financial management, thus making either the MBA Finance or MS Accounting seem like a logical choice. I'm not sure what the distinction between the MBA General and MS Management really are, but both should give you a good general background. The part about defining project risks and assisting with proposal development seem to suggest an MBA Entrepreneurship. Gosh, I'm wondering whether the question is "Which one?" or "Which one comes first?" :D

    It is too bad that my beloved alma mater City University www.cityu.edu trashed their entrepreneurship program the year I graduated. After completing one's Management Core courses, the Entrepreneurship courses included: Entrepreneurship; New Venture Funding and Life Cycle Planning; Information Technology for Entrepreneurs; Forecasting, Cash Flow, and Management Financial Reports; Negotions and Preventive Law (rechristened Negotiations and Agreement Writing); and The Business Plan. The Entrepreneurship course taught one how to write a marketing plan and a feasibility business plan. New Venture Funding and Life Cycle Planning taught one how to write a business proposal to raise capital. Information Technology for Entrepreneurs basically familiarized one with how to use various financial and accounting softwares, which led seamlessly into Forecasting, Cash Flow, and Management Financial Reports, where we learned how to do five-year projections of revenues, costs, and profits (losses) for our proposed businesses. The Negotions involved basically two group projects: the first, developing a company policy manual (basically, four partners have to negotiate their way through the dreaded group project for the first time in their major courses - though some may have had group projects in their general core courses) and negotiating a lease on a mall. The Business Plan course involved learning how to write the Feasibility Business Plan, the Business Proposal to Raise Capital, and the Comprehensive Business Plan.

    Frankly, I am quite utterly confused as to which degree you ought to do. If it were me, the question would be, "Which of these do I want to do first?" But, anyway, finish up your bachelor's and then find a good master's degree. You go, girl! You are woman, let's hear you come out roaring! Meantime, I'll see if I can find some degree options and old threads for you.
    BTW - City U www.cityu.edu does have separate and distinct MBA Financial Management and MBA Individual Financial Planning programs. So, it is possible to find the Corporate Finance emphasis. ;)
     
  16. friendorfoe

    friendorfoe Active Member

    Rhonda, I'm going to shoot straight with you, if you don't like your job, stop doing it. Yeah it may be a good career, yeah it may pay a lot, but why throw your life away for mere money? When you are old and looking back over everything you've accomplished, are you going to want to look at a career that you hated simply because it pays a lot? That's selling out, girl, and you know it. It's one thing to be burnt out, it's a whole different ball of wax to just not like your profession and since you spend more time and energy at work and getting better at work than almost any other endevour in life, then you better enjoy and see the purpose in what you do. Who cares about your background....look at my credentials in my signature, I started off in IT....I worked in IT, I was an IT guy, now I'm a cop. Can you imagine a bigger change? And what's more, they were excited to hire me BECAUSE of my diverse background. It certainly has not worked against me.

    You're worth more than you think....
     
  17. Ted Heiks

    Ted Heiks Moderator and Distinguished Senior Member

    On the other hand, I'll shoot straight from the hip with you, too. If you don't like your job, yeah, it's okay to stop doing it, but, by all means, have the new job lined up before you walk into the old job singing Johnny Paycheck's "Take This Job and Shove It!" Moreover, if you give up a project management career because you dislike finance and accounting and if you think you want a human resource management career in lieu thereof, take a good long look at the prospective economic consequences thereof. For example, take a look at www.salary.com to benchmark prospective salaries for jobs in your area in your desired new field in comparison to your current salary. Money is not so "mere" as some might think it is. If your new field pays less than your current one, that is not necessarily a reason not to make the career change, but by all means think first about how one is going to make the economic adjustments. Are any of your expenses absolutely fixed? Which areas of your budget can you trim if you do take a pay cut? The other thing is: analyze why it is you seem not to be liking finance and accounting.
     
  18. Ted Heiks

    Ted Heiks Moderator and Distinguished Senior Member

    Well...I'm 44 - and that's, like, way mass old! :D
     
  19. TCord1964

    TCord1964 New Member

    I'm going to give a different perspective than that of friendorfoe, although I completely understand his point.

    I LOVE my career and my current job, although the pay has almost always been rather low. In fact, I took a 20 percent pay cut to take my current job (I'm a journalist). No two days are the same. I get to meet and interview interesting, and often famous, people. I have worked in my profession for more than 20 years.

    However, I am now at a point where I absolutely need to start bringing home a bigger paycheck. In my line of work, that means moving into public relations/corporate communications. I am especially interested in doing that for a non-profit, and perhaps going into non-profit management at some point. I like the idea of actually doing some good and helping people by working with a non-profit company, agency or charity.

    I didn't just automatically decide to do this. I did a lot of soul searching, some of which I shared in other threads on this message board. I considered other fields that interested me, but also paid very well, such as alternative energy, engineering and even pharmacy. But for a variety of reasons, I decided I wanted to remain in communications, although in a different but higher-paying aspect of communications.

    I guess the point I'm trying to make is that while you may be bored with your current position, perhaps there is a related but more exciting position for you in the same career path. I agree you may have to do some personal soul searching. Just don't wake up 20 years from now asking yourself "what if"?
     
  20. philosophicalme

    philosophicalme New Member

    Your age doesn't show at all, Ted... :p
     

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