Kind of a busy day ahead...I am off site meeting with randoms all day to figure out who hates who and refuses to work for so-and-so at this one company. So that should be fun:-) But I have some time between meetings, so I will finish what I started yesterday.
Lunch on Friday, when Boss Foxy informed me that she had something of note to discuss. Turns out it was something of a career development thing...she wants me to go back to school. This didn't catch me totally off guard because I have discussed it with her and with other people before...but I wasn't thinking about it imminently. Her suggestion is that I get the applications together now for the fall/winter deadlines for admission for next fall ('08).
So basically, the arguments are as follows. I think that I do want to go back, I just don't know about next year yet. I really like what I do and there is sort of a practical ceiling above which I don't think I could rise without an MBA. And title-wise, I am sort of at that ceiling...I don't think I can get promoted without another degree (that is not to say that there isn't a lot more I could learn...). And she didn't seem to think I would have any trouble getting into some very good schools. The most important part of a business school application is your experience, and my resume looks great from working here for a couple years. I would have three years of work experience by the time classes started, which is on the low side, but should be enough.
The downside is that the programs I would want to go to are all full-time (and part-time is way harder anyway...like five or six years long) and cost a lot of money. Essentially, I would have to quit my job and borrow at least $100,000 to go for two years and pay for living expenses. That, however, is not really something that would change this year or next or the year after (if anything, it would get worse.) It would likely take more time and effort, at least in the first year, than work does, and would therefore require me to work out Munchkin's schedule constantly. My guess is that there aren't many "single parents" in business school...which means that there are some other people that I would need to talk through this with (well, one in particular).
Boss Foxy went to the trouble of getting the admissions packets for me from the two most well-known schools around here (and it is absurd to me that I could conceivably attend either of them...who other story). So, I have those, and I am making a bit of a list of questions to ask the admissions people as I think about what I wanna do.
Anyone have any thoughts on this? Obviously, people who have gone through intense graduate programs and can speak to it are particularly welcome to opine...
Not gonna lie, I am pretty sure I already know what I am gonna do, but I don't wanna skew anyone's views. I want to hear that I am crazy if you think I am:-)
Wednesday, September 12, 2007
How many degrees is enough?
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8 comments:
I think more education is never a bad thing. Pushing it back another year may also not be that bad of an idea, you can always apply, get in and ask for a deferrment. as for munchkin - you'll figure it out. but being in school, especially graduate school, in a lot of ways is like a job. you have a set schedule and certain places you have to be and you work around that. and in other ways it is more flexible, as you only answer to yourself and you have some freedom in creating that schedule - for you it would be around munchkin. there were a lot of people in my law school class with wives and families - they made it work and often excelled more than others because they had priorities and stuck to their schedules.
e.b. makes a great point about people sticking to their schedules because of other priorities. What I wondered was when Boss Foxy told you all this and got you the applications, the company wants you to go but won't pay for it? And if you did go, could you go back? I guess maybe you need to ask the schools and your company those questions...or you did, you just didn't share. I feel like I'm as torn as you, but I agree with e.b., there's nothing wrong with more education.
Going to school, is definitely a good thing. The earlier the better.
Since you talk of the 'most well known schools around there', I will assume one of them might be HBS. I have a friend that is in that program... married, has a baby, etc. So if you would like to have some first hand perspective, feel free to message me and I can send you his email addy.
That's a good point about your company paying at least part of the tuition--that seems like a fairly common practice.
As for time/Munchkin, etc., I think it's definitely doable. You seem to have a good work ethic (besides your incessant IMing:), so I think you'd be good at structuring your day. I know some of my fellow students in law school treated it like a job and in large part were able to complete their classes and work within the hours of 8-6--with some early morning or late night studying here and there. You could do something similar. Plus by next year you may be comfortable with Munchkin walking home on her own, etc.
It'll work its way out.
Don't put it off because of Munchkin, go while you have the chance. Your schedules will find a way of working together.
A lot of moms put off school because of kids, work, etc. saying they will go back "next" year. My "next" year is now 20 years later. Take this chance.
I can relate to this topic! I just started the long road of getting my MBA. I took the GMAT last December and had all my applications in for the January deadlines for the Fall '07 programs. Full time programs - all over the country (even one by you!). I was accepted and realized that I couldn't just not work, have no money coming in and owe $50k or so a year.
If your company can pay for it, absolutely do it. If they won't, I do recommend the part time program. It will take 4-6 years, but you can just have class a couple nights a week. Some programs offer flex and online classes as well. Or look into an executive MBA program (they usually have class on Friday nights and all day Saturdays).
Anyway this comment is long... but if you have any questions, shoot me an email and I can answer any MBA-related questions.
ROFL @ Ally.
I think continuing education is a good thing, however... I would hesitate to foot the bill for a graduate program simply because of the cost. Should you borrow all that money to up your education, how long would it take to pay that down? I'm not interested in furthering my career any more than my career is willing to pay for it.
I know a few people right now going for a PHD at our age, and they're close. But honestly, the jobs they have aren't going to pay them any more than $5-10k more with that new title... and how much did they spend to get it? A hell of a lot more than their jobs will reimburse them for in the next 5-10 years, that's for sure.
I think the object should be to further your career (and therefore your salary). Not put yourself in the poor house so you can have some new prestigious title that don't pay you shiat.
I say go for it. And I am sure that the company is most likely in for part of your tuition. Go now while you have the opportunity. I am trying to convince myself to go back and I don't have a child to worry about, just a mortgage and a little bit of other debt. It's a big step but I am sure Boss Foxy told you where you can go with it...
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