Most underrated and most overrated MBA programs offered online?

dl_mba · Jun 26, 2012

Fortunato said: ↑

I guess since the thread has devolved into a conversation about me, that I should at least show up and tell things from my perspective.

First off, I don't think Duke shows up on anyone's "Best Buy" lists for any of its degrees, let alone its executive MBA. It's an expensive private school that is extremely selective because it can be - there are many more people hoping to earn degrees from Duke than there are seats to fill. When I was at Fuqua, the admit rate for the daytime program was about 20% (with a ~50% yield), and for EMBA programs, it was about 70% (with a yield rate of near 100%), even though the admissions folks managed the applicant pool carefully - you couldn't even apply without some level of company sponsorship. You guys all know that if demand outstrips supply, the price goes up. That's why Duke can raise its EMBA tuition every year and still fill all the seats it makes available.

As for me, I wasn't looking to go to an executive program. Towards the end of my time studying online through the University of Wyoming, I decided I was going to do an MBA, and my plan was to go full-time on-campus. I busted out a 750 on the GMAT, and combining that with a 3.94 undergrad GPA, figured I had a pretty decent shot at getting into a decent school with a significant aid award. I applied to six schools, got into three, and of the three got a half-tuition scholarship at one school, and full rides plus a monthly stipend from the other two. I was all set to attend the University of Florida (and by all set, I mean my wife and I got an apartment, my wife had moved to Gainesville and gotten a job, and I had been to campus for orientation), and was serving out the six-week notice I'd given my employer when the owner of my company asked what he could do to keep me there. After consulting with my wife, I told him that I'd be willing to stay, but given that I was giving up a full ride to a top-tier MBA, I expected my company to provide me with same. Duke's program was the perfect fit, because it was relatively close, meaning low travel costs, and the residencies were every nine weeks, minimizing my time out of the office. In return for the company paying my way, my boss asked I sign an agreement to remain with the company for four years, the two years of the program plus an additional two. I agreed, and actually ended up staying six more years before leaving for my current role.

Was I making more than most MBA grads before b-school? I was certainly comfortable, in the $80-85K range including bonuses, but most people can walk out of a top-tier MBA and land a six-figure gig fairly easily. By the time I was done at Duke, my salary and bonus had grown to match what my peers were landing when they changed jobs. Would I have gotten there without the MBA? Maybe, maybe not.

Was my MBA just a fat-cat perk? Hardly. Before me, my company had sent exactly one employee to b-school - the son of the founder. And they sent him to East Carolina University - a good school, but not anyone's idea of a top tier program. I was able to get my employer to send me to Duke because I had a very strong bargaining position - I was already in a top 50 school with a full ride and stipend, and I was going to have to spend at least a year away from my family in order to remain in NC and stay with the company. Spread out over the four-year commitment, it cost them ~$22K/year to keep me.

Did my employer get their money back? I was able to use the principles from one class to revamp the way we developed custom credit scoring models. That change cut our turnaround time on custom models from two weeks to one day, and improved accuracy as well, while saving us nearly $200K annually on credit scores. Even though I left the company in December, they'll be using that technique for years to come. I'd say it was worth it to them.

Could I have gotten a decent MBA education at a lower-cost college? Sure, but to say that Duke's MBA is overrated because it's expensive is to miss the point entirely. Some people think a 5-series BMW is a horrible excess because you can get everywhere you need to go in a 2002 Toyota Echo much cheaper. But if you can afford a 5-series, it sure is nice to have the heated seats and the 10-speaker sound system. The same is true with MBA programs. I am sure people going to Jacksonville State learned from a lot of the same textbooks as I did. I am also sure that none of them rubbed elbows with future McKinsey & Co. consultants, Carlyle Group fund managers, and venture-backed startup founders. Whether Kizmet wants to believe it or not, the network you come out of school with is a large part of why people earn an MBA degree.

I understand that most people on this board are seeking to find degree programs that are accessible and affordable. Hell, that's how I ended up at the University of Wyoming - I had already determined that I couldn't succeed in an on-campus degree program while working full time, and UW had the most affordable distance program I could find (before I learned about degreeinfo and the Big 3, obviously!). But I believe very strongly that when it comes to graduate programs, you go to the best school that you can get into and that you can afford. For me, that turned out to be Duke. I came out of school with a fantastic network, a respected degree, and zero debt. I achieved what I set out to achieve when I decided to go to b-school, and it continues to pay dividends - my MBA was a large part of the reason I landed my current job. If you think it's overrated, honestly, that's your problem, not mine.
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Very well put. All the best in your new position.

Shawn Ambrose · Jun 26, 2012

Fortunato said: ↑

I guess since the thread has devolved into a conversation about me, that I should at least show up and tell things from my perspective.

First off, I don't think Duke shows up on anyone's "Best Buy" lists for any of its degrees, let alone its executive MBA. It's an expensive private school that is extremely selective because it can be - there are many more people hoping to earn degrees from Duke than there are seats to fill. When I was at Fuqua, the admit rate for the daytime program was about 20% (with a ~50% yield), and for EMBA programs, it was about 70% (with a yield rate of near 100%), even though the admissions folks managed the applicant pool carefully - you couldn't even apply without some level of company sponsorship. You guys all know that if demand outstrips supply, the price goes up. That's why Duke can raise its EMBA tuition every year and still fill all the seats it makes available.

As for me, I wasn't looking to go to an executive program. Towards the end of my time studying online through the University of Wyoming, I decided I was going to do an MBA, and my plan was to go full-time on-campus. I busted out a 750 on the GMAT, and combining that with a 3.94 undergrad GPA, figured I had a pretty decent shot at getting into a decent school with a significant aid award. I applied to six schools, got into three, and of the three got a half-tuition scholarship at one school, and full rides plus a monthly stipend from the other two. I was all set to attend the University of Florida (and by all set, I mean my wife and I got an apartment, my wife had moved to Gainesville and gotten a job, and I had been to campus for orientation), and was serving out the six-week notice I'd given my employer when the owner of my company asked what he could do to keep me there. After consulting with my wife, I told him that I'd be willing to stay, but given that I was giving up a full ride to a top-tier MBA, I expected my company to provide me with same. Duke's program was the perfect fit, because it was relatively close, meaning low travel costs, and the residencies were every nine weeks, minimizing my time out of the office. In return for the company paying my way, my boss asked I sign an agreement to remain with the company for four years, the two years of the program plus an additional two. I agreed, and actually ended up staying six more years before leaving for my current role.

Was I making more than most MBA grads before b-school? I was certainly comfortable, in the $80-85K range including bonuses, but most people can walk out of a top-tier MBA and land a six-figure gig fairly easily. By the time I was done at Duke, my salary and bonus had grown to match what my peers were landing when they changed jobs. Would I have gotten there without the MBA? Maybe, maybe not.

Was my MBA just a fat-cat perk? Hardly. Before me, my company had sent exactly one employee to b-school - the son of the founder. And they sent him to East Carolina University - a good school, but not anyone's idea of a top tier program. I was able to get my employer to send me to Duke because I had a very strong bargaining position - I was already in a top 50 school with a full ride and stipend, and I was going to have to spend at least a year away from my family in order to remain in NC and stay with the company. Spread out over the four-year commitment, it cost them ~$22K/year to keep me.

Did my employer get their money back? I was able to use the principles from one class to revamp the way we developed custom credit scoring models. That change cut our turnaround time on custom models from two weeks to one day, and improved accuracy as well, while saving us nearly $200K annually on credit scores. Even though I left the company in December, they'll be using that technique for years to come. I'd say it was worth it to them.

Could I have gotten a decent MBA education at a lower-cost college? Sure, but to say that Duke's MBA is overrated because it's expensive is to miss the point entirely. Some people think a 5-series BMW is a horrible excess because you can get everywhere you need to go in a 2002 Toyota Echo much cheaper. But if you can afford a 5-series, it sure is nice to have the heated seats and the 10-speaker sound system. The same is true with MBA programs. I am sure people going to Jacksonville State learned from a lot of the same textbooks as I did. I am also sure that none of them rubbed elbows with future McKinsey & Co. consultants, Carlyle Group fund managers, and venture-backed startup founders. Whether Kizmet wants to believe it or not, the network you come out of school with is a large part of why people earn an MBA degree.

I understand that most people on this board are seeking to find degree programs that are accessible and affordable. Hell, that's how I ended up at the University of Wyoming - I had already determined that I couldn't succeed in an on-campus degree program while working full time, and UW had the most affordable distance program I could find (before I learned about degreeinfo and the Big 3, obviously!). But I believe very strongly that when it comes to graduate programs, you go to the best school that you can get into and that you can afford. For me, that turned out to be Duke. I came out of school with a fantastic network, a respected degree, and zero debt. I achieved what I set out to achieve when I decided to go to b-school, and it continues to pay dividends - my MBA was a large part of the reason I landed my current job. If you think it's overrated, honestly, that's your problem, not mine.
Click to expand...

I know that you have shared your story here before about Duke, and thanks! And best of luck in your new position.

Shawn

BobbyJim · Jun 26, 2012

Fortunato – after hearing your story, I stand corrected in your particular case. Now back to regular programming….:yup:

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Most underrated and most overrated MBA programs offered online?

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