I have a Bachelor and Master of Science degree in Electrical Engineering and now want to pursue an MBA. I know a MBA from a top tier institution is better, but how much better? Do graduates of a top tier MBA program basically have their choice of companies to pick from?
I graduated from a very very good engineering school and after graduating, finding a job was not as easy as I expected. So I’m curious if the outcome would be similar for an MBA.
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In Business and Law the prestige of your institution matters a lot so basically going to a top tier MBA programs will offer more job opportunities and higher paying ones. It is odd that a top tier engineering graduate cannot find a job, I say keep looking and work for a while. Anyways, yes, the benefits outweigh the cons for the top tier MBA programs.
The situation is that top tier companies have their choice of graduates of top tier MBA programs.
If you had difficulty finding a job, the problem may be that you need to improve your interviewing skills. You may want to seek tutoring in this area.
Best wishes.
The biggest advantage to do an MBA from a top B-school is that the placement offices of these B-Schools are really well connected and invite some of the big names in the industry. So to answer your question, in a way, it is correct to assume Grads from big B-Schools get to pick from good companies of their choice when these companies come for recruitment to campus. With Engineering its not always the case as the hiring will be mainly based on the requirements in that particular field in that season or that year. Since the manufacturing sector has been hit by the downturn, very few companies are hiring due to severe cost-cutting measures being implemented.
B-Schools were also hit by this downturn and had a hard time to place their outgoing class but they are slowly picking up in recruitment again. But the good ones were a bit lucky in terms of placements. Check the article that was published recently in the Wall Street Journal.
Studies have shown that an MBA does not raise career earnings significantly, except perhaps from the most elite MBA schools. Tuition costs and loss of income for two years of full time study are difficult to make up. (Part-time study using employer funds, may pay off at respected AACSB-accredited schools). Too many mediocre MBA students chase MBAs from too many mediocre schools. The market has been spoiled.
As an Engineer, you should be going for a Master’s in Engineering Management, or a Master’s in Technology Management, not an MBA, unless you want to leave Engineering altogether.
Elite MBA schools require several years experience before applying. Few things are more useless in an office than a combined Engineer+MBA with no experience. He can’t manage. He can’t do Engineering worth his salary.
Have you taken the FE exam yet?
Joined NSPE?
Inducted into Order of the Engineer?
Briefly, the top tier schools get more companies recruiting their students and the students get higher salary offers. The prestige of the school is worth something and the fact that the school cherry picked the best applicants means recruiters are talking to highly qualified people. Engineering and MBA is an excellent combination, but as PE2008 says, if you don’t have some work experience, you are not much use to a business.
You happened to graduate during a very difficult economic period. Many MBA graduates have the same experience. But the economy changes and so does the job market.
Not everyone can get into a top tier school, but there are hundreds of excellent MBA programs, for every study that shows the MBA does not pay off, there is another that shows the MBA has a high rate of return, and it does not have to be from a top tier school to lead to a highly successful career. The trick is to get into the program in which you fit best and that best matches you criteria and preferences. Before you decide on an MBA program explore the Internet for information on available programs. There is a lot of information available in free public service sites. Some sites are limited to specific countries, such as Germany, UK, or Australia. Some list a small number of select schools, while others may include more than 2,000 MBA programs listed worldwide. You can find the program that best fits you. You can search for programs by location (US, Europe, Far East, etc. ), by concentration (finance, marketing, aviation management, health management, accounting, etc. ), by type of program (full-time, distance learning, part-time, executive, and accelerated), and by type of degree (MBA, MS, Ph. D). In some cases you can select your own criteria and preferences to get a list of universities that satisfy your needs.