MBA maximum ROI to prestige - a maddening equation

Hello! I am new here and did a quick search to find if anyone had brought this up in the past. Couldn't find anything so here I am...

I am currently in the Boston University UDCP, which I love, and want to tout for anyone looking for an online degree completion program - it is awesome. It's top tier, the degree is from BU itself (no funny business), and it costs an arm and a leg. The whole reason I decided to go into this program is because I've always wanted to get my MBA. And I went into a first tier school so I could get into a first tier MBA program. Since I'm due to walk in May I am gearing up to dig into the application process for Spring or Fall 2011. Thing is, life has changed a lot for me. I got married, we want to make a baby, I'm hopelessly devoted (read: chained) to my job, I don't want to move.

I have several criteria and I've come up with some options that meet them, and am hoping for comments or advice from anyone here who knows anything about this stuff.

Criteria

1. Primarily distance
2. First tier
3. Reasonable tuition/fees

With all this in mind, Kelley Direct looks really, really good. Especially with the dual degree MBA/MSSM.

Some other programs I like, though they don't meet all the criteria:

1. Wharton EMBA (ungawdly expensive, non-DL, but walking distance from my office)
2. Babson Fast Track MBA (reasonably priced, non-DL, not as prestigious, convenient to my office)
3. Fuqua Cross Continent MBA (ungawdly expensive, ton of travel)
4. Stanford GSB Sloan Fellows (ungawdly expensive, non-DL, accelerated)

Like I said, Kelley Direct looks really, really good. In fact, I was halfway thinking I'd never find the right program until today when I saw an ad.

Another question, how reasonable is it to think that you'll suddenly realize a huge upswing in your salary once you've achieved an MBA? Stupid question? This is another reason I'm reluctant to do a program that costs $140K. That is a huge gamble to someone who is more interested in the experience. I just want to make sure I'm getting the most bang for my buck.

Fire away

 

Hi Minerva -

In terms of getting a good salary or huge uptick in salary once you get your MBA, a lot of career studies (and I don't have the links anymore, I know this because I did a value survey prior to going back for a MBA) show that your salary coming out of a MBA program has a lot to do with your salary going into a MBA program.

A friend of mine coming out of BU's MBA program in the late 90s with no experience, fresh out of BU undergrad and BU MBA, was making 45,000 annually doing market research for a technology startup. On the other hand, another associate who finished that exact program graduating in spring 2004 who was already a senior manager in a global firm, jumped up 35% in salary by moving to another firm and taking a director-level position.

I think the key is having the marketable skills to reasonably be able to compete with experienced professionals for those good salaried positions after completing the MBA. I would definitely aim at Wharton, Harvard Business School and Stanford if you have the ability to move. Reason: While BU is a Tier 1 school, it's not at the top of Tier one, so if you're at the low end of the experience chain it's vital to get the name recognition of your chosen business program, mostly due to the recruiting that happens out of those programs.

If you have the experience, going to any good MBA program from a known school (BU, UMass, those types of schools) may serve your needs well.

From the programs you've listed above:

If you're looking at becoming an entrepreneur, go to Babson. Best in the country for that.

If you're looking to move on to a PhD, Wharton's a good choice as the faculty is geared for that and very, very well connected.

If you're looking for "name" value, then Stanford. I'd put them into the same tier in terms of teaching, but accelerated programs rarely turn out scholars or provide the necessary networking time to get that done well.

I've never heard of Fuqua.

Thanks.

 

That would be Duke University's business school....of which we have a graduate of the program (Fortunato) on the board. Do a search for his program review.

 

Thank you!

I should add, in spite of the fact that I never completed by undergraduate in my youth, I am a Vice President with a Fortune 100. I make 6 figures, but in consideration of my city's COL, that isn't much to sneeze at. I have about 10 years experience, primarily in strategic management.

I wish to stay in the corporate sector, would love to be a Senior VP, which could actually come naturally, without post-grad study.

I also forgot to mention another program: Berkeley/Columbia which is essentially an EMBA with two degrees, one from each school. This one is expensive, semi-convenient, but requires you to spend every other weekend in the classroom which would kill me.

If I did the Kelley Direct program I'd get a dual MBA/MSSM for less $$$ than any of the other programs I've listed. It's another "first tier, bottom rung" school, which isn't a bad thing per se. IMO.

 

The Warwick Business School MBA (UK) is a global recognized top tier program and can be completed entirely through DL. From their website “The Economist Intelligence Unit Distance Learning MBA rankings place us #1 in UK, #2 in Europe, #3 in the world.”

http://www.wbs.ac.uk/students/mba/learn/dl.cfm

 

So my last post never posted

Anyway, I replied to say "thank you" and to give a bit more background... I do have pretty significant experience, about 10 years, and despite my lack of an undergrad degree, I'm a VP in Strategic Management for a Fortune 100. I make 6 figures but that is nothing to sneeze at considering my city's COL.

I also love my company and my manager so I don't have much interest in changing jobs at this time. In the future, yes, but not right now.

 

Cool, thanks. I learned something today.

 

Sure, but if that's your primary consideration, why not go for the big one? Of course, this is subjective. My statement didn't mean to exclude any MBA program from having a level of prestige, but if I had a choice of Stanford, Yale or Harvard I wouldn't choose Stanford

 

Yale's program, while making significant gains in the past 5 years, is inferior as far as perceived quality and the network it would allow you to build compared to both Harvard and Stanford. If admitted to both Harvard and Stanford my deciding criteria would be the financial packages each school was offering as both schools are on par with one another.

In regards to the OP's original post, I would determine which program has the strongest competency in the area you wish to pursue because all of the schools you've mentioned are well regarded programs. I am assuming you are relatively young (basing this on you mentioning that you're recently married and looking to start family). This might disqualify you from the Wharton program as they tend to take highly experienced upper-level management with 10-15 years of experience into their executive program. I can't speak to the program at Standford as I am not familiar with it outside of the rankings.
BU has an excellent program. I applied and was admitted to their full-time program when I was considering MBA programs. Hayden Estrada runs their admissions department, he came over from Mendoza at Notre Dame and is a stand up guy. You should try to set up an appointment to speak with him about their evening program which I know is very strong here in the Boston area. I wouldn't disqualify BC's evening program either. BC has a very strong alumni network and plugging into that could be a huge asset, especially if you intend on staying in New England. I know neither BU or BC are "distance" programs but it looks like you are considering some residency programs as it is so I would definitely add those two to your list.

Kelly and Fuqua are both known for marketing and turn out a lot of people in brand and product management. If I had my choice between the two, all things being equal, I would select Fuqua but that is just personal preference.

Making recommendations might be easier if we knew a little more about your stats. Work history, test scores, career interest, etc. as these things will be factors in determining which school will be a good fit and which ones you have a strong chance of being admitted to. At any rate, best of luck with your search and congratulations on your pending commencement this May.

 

Testing Testing

Well, I've attempted to post responses a couple times today but they keep getting held for review. I'm hesitant to write further because I'll only be repeating myself and, honestly, what's the point in writing if it won't be posted? Is this a common issue here?

 

Your post keep getting held for review because this thing automatically screens new member posts (hoping to screen out mill shills, spammers, and other nasty folk). Not sure how many posts you need before you're no longer held up for review.

 

The review process is usually pretty quick. I bet someone will remove that restriction by this evening.

 

Thanks

Well, apparently I can post freely now, but my previous posts are still being held. Will they ever "release" them or do I have to start all over again?

 

Testing Testing Part Deux

It appears to work if I put in a title.

Anyway,

Thanks to all for your comments. Couple things:

I have about 10 years experience, am a VP in Strategic Management for a Fortune 100. Yes, sans BA. I make six figs today but with my city's COL, that is meaningless. I also have letters of recommendation from two CEO's, one from my company and one from a national NGO. Have not yet taken the GMAT.

I would LOVE to attend HBS and could get in, but I cannot take that time away from work and I don't want to move across country. I need a certain degree of flexibility and distance with any program. + Prestige. + Reasonable tuition. The Fuquas and the Whartons are just way too expensive in consideration of the ROI.

Oh, and Kelley and Fuqua are not equal because Kelley tuition and fees are 1/2 Fuqua's. I would also love the Stern Trium program, but that is a similar dilemma.

Maybe I apply for anything and everything and see what they come back with? All of my strategization is with the presumption that I'm paying all costs. I can only get modest reimbursement from my employer. The days of sponsorship are long gone around here

 

Where are you located? I was under the impression that you were in Boston?

With your current income and the background you described I'm not sure that the $100k+ programs would be worth the investment. If you're making over $100k now I don't forsee the MBA pushing you into a position that pays enough annually in the short term to make up for the expense of those programs. There are only a handful of jobs coming out of full-time top-tier MBA programs that pay over $150k a year that I have heard of and they are all in VC, M&A, etc.

I think any reputable program would be fine for you as your professional experience will outweigh the degree.

 

Sorry for the delay. We Admins all have jobs and families and other things going on like grocery shopping, car inspections, snow removal, etc. and it might take a few hours before someone can go through the list. Think of it this way, it'll give you a chance to work on that whole "instant gratification thingy." BTW, welcome to degreeinfo!

 

Hi admin, I certainly wasn't implying you didn't have lives. I was just confused by the mechanization here.

Anyway, I'm actually in San Francisco. The BU UDCP is distance. Babson and Wharton both have satellite campuses here. Harvard has a distance MBA through their extension but it's not the real HBS deal and the diploma and transcript make that apparent.

 

Hi Minerva - Don't worry, I was just making a bad joke. Here's another one: Want to know how many posts you have to make before we stop screening your posts?

http://www.random.org/integers/

 

I actually work at Harvard. Yes, the Extension School has an ALM in Management. It isn't on par with the HBS MBA program, but it doesn't try to sell itself as being a Harvard MBA either. There seems to be some confusion about that.