MBA Complete - Was It Worth It?

Posted on March 18, 2008

This past Sunday I handed in my final paper for my MBA degree with a Marketing concentration at Drexel University’s Lebow College of Business. The finality is so fresh that end of my long two and half year journey hasn’t sunk in. It is starting though…Tuesday is my normal class night and I got to stay home with my family!

The first question most people will ask is “was getting an MBA worth”? On a personal level, it was a truly great experience. One that has given my a lot of confidence, motivation, purpose, and energy. On a business and pure learning level, I am not so sure. I think something like the Personal MBA or selected great texts from Amazon and a mentor would have been more useful and practical.

The degree cost about $55,000 in tuition and books, but that was 100% covered by my employer. I even made money, since I sold most of my books on Amazon after the class was over. The degree did cost me time, commitment, and the sacrifice of my family.

As for salary, it will be a while before I know, since I don’t get a single penny more from my current employer for finishing an MBA. One article suggests that

According to one salary guide, an MBA is worth about $10-30,000 a year over a bachelor’s degree, but the salary increase you could see may be much less — or much more. Factors that can affect your salary include:

whether you stay with your current employer or seek a job with a new employer.

the amount of relevant experience you have for the job you are seeking.

the reputation of the graduate school you attended.

the type of job you are seeking — and the level of supply/demand for workers.

the industries where you are seeking a job.

the location of the jobs you are seeking.

A fellow blogger with an MBA, FMF @ Free Money Finance, reported that he almost doubled his salary in 5 years during the 90’s. I have no doubt that I might see similar returns.

All in all, I am glad to be done, but it was a great experience. As I collect my thoughts over the next week or two I will provide so more insight on my MBA experience.

Quote Source: Quint Careers
Note: Picture is not me, but a graduation at Harvard the most prestigious business school in the US.

» Filed Under About Me, Chasing Dreams, Salary

Gender Affects Salaries, But Maybe Not How You Think

Posted on August 29, 2007

“Women working full time earn about 77 percent of the salaries of men working full time”. That number is a little misleading, as it doesn’t take into account education and employee status, but the difference is still 11% when equal employees are studied across genders.

We all know the gender differences in salary still exists in business and so does the glass ceiling to some extent. The common explanation is sexism and deliberate underpayment of women. Linda Babcock, professor of economics at Carnegie Mellon University, has been studying the issue at length and has produced some interesting findings. Time and again her research shows that women are much less aggressive, and their finances take a hit because of it. An 11% hit in starting salary could end up costing a women over half a million dollars or more during a 30 year career.

Do the readers agree with this assessment?

Is the solution to teach women to be more aggressive?

This is one of those situations were the surface facts may not tell the whole truth. This type of topic calls us to look past our stereotypes and prejudices and look at the reality of the matter. Are there reasons that women are less aggressive then men? Do the men in business positions react differently to an aggressive man vs. an aggressive woman? Are there other factors at work?

Hannah Riley Bowles, who studies psychology at Harvard, offered research supporting the notion that aggressive men are treated differently than women. “While both men and women were penalized for negotiating, Bowles found that the negative effect for women was more than twice as large as that for men.”

Do women feel that this is an accurate view of the business world for them? It makes sense to me. Even the language we use to describe aggressive, pushy men is much better then the language used for a aggressive, pushy women. Men are called pushy and go-getters, while women are nagging and b****y. Women are expected to be nice, but the same rule doesn’t apply to men. How does Martha Stewart get described vs. how does Jack Welch famous GE CEO or Donald Trump?

Personally, I will admit to judging women by different standards in the business world. Research like this really helps illuminate the subtle ways in which I may carry a sexist world view around with me. It’s time to take notice, and start changing.

What are the reader’s experience with this issues

Source : Washington Post Article

» Filed Under Salary, Women