(Topic ID: 235634)

What do you guys think of getting a online MBA


By zr11990

5 months ago



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    #1 5 months ago

    My business is slowly failing. I sell less and less each year. I would love to move but the price of property at good locations is just too high. If shit doesn't change its a job for me. At 51 and never having worked for anyone my prospects are slim, looks like Wal-Mart to me. I do have a BA in public relations and advertising from 30 something years ago but I'm sure that would be worthless. I'm thinking a MBA would at least help me find something that would pay my bills. Or maybe I just need to go real fast on the bike till something gets in the way. I have lots of life insurance. Kidding.

    #2 5 months ago

    Worthless. Actually, beyond worthless. Harmful.

    Will make you harder to hire for entry level jobs. Only reason to get an MBA is if it's paid for by your company after several years of service for purposes of making you more qualified for a senior leadership position.

    That or you go to Stanford or Chicago, which isnt going to happen without requisite experience and/or insane GRE test scores.

    #3 5 months ago

    Do degrees earned online have the same merit as physically going to college classes? Wouldn't want you to spend money and waste your time and effort only to find out no employer cares about your online degree.
    -Mike

    #4 5 months ago

    So what about getting a undergrad business degree? a PR advertising BA is worthless.

    #5 5 months ago

    I got a MBA online from Colorado State University. It mirrored an in class program, meaning we logged on live and watched the classroom and participated interactively. We did all the same assignments, tests, etc. Well respected program. There are plenty of online garbage programs, so make sure if you do it you pick one that is highly respected.

    Oh, and as far as it “over qualifying” you for an entry level job, just don’t put it on your resume if you find that to be the case.

    #6 5 months ago
    Quoted from Grizlyrig:

    Do degrees earned online have the same merit as physically going to college classes? Wouldn't want you to spend money and waste your time and effort only to find out no employer cares about your online degree.
    -Mike

    I don't have time to go to class. I still have to run this shithole till it craps out. I have 700K out on payments. I cant sell it because on paper it shows Im not making anything but It has paid my salary plus insurance and other things

    #7 5 months ago
    Quoted from WackyBrakke:

    I got a MBA online from Colorado State University. It mirrored an in class program, meaning we logged on live and watch the classroom and participated interactively. We did all the same assignments, tests, etc. Well respected program. There are plenty of online garbage programs, so make sure if you do it you pick one that is highly respected.

    Was it hard? Im not the sharpest knife in the drawer and I don't school well. I'm thinking get the business undergrad first them try a MBA.

    #8 5 months ago
    Quoted from zr11990:

    Was it hard? Im not the sharpest knife in the drawer and I don't school well. I'm thinking get the business undergrad first them try a MBA.

    I wouldn’t call it hard, but does take time and dedication to succeed.

    #9 5 months ago

    I got my MBA using the Post 9-11 GI bill from University of Maryland University College doing a Hybrid in person/online program. The same degree could be gotten 100% online. My degree qualified me for a higher labor category in the position I was working at the time (government contracting), and aside from being free got me immediate financial gain. My family (parents) run a very successful chain of businesses I was actually groomed to run from a young age, but I chose to forge my own path. I believe 100% that the MBA I have is a benefit to me from a certification point of view today and as a resume enhancer. I 100% believe that my MBA would not really have been of that much use in running the family businesses. The biggest benefits I got out of my MBA from a day to day job function is the ability to write. I could crank out a 30 or 40 page original paper on pretty much any subject in a day now. I do not believe I could market or run a business any better right now from my MBA. I learned much more about management from 5 years as a Marine Corps Officer than I ever did from my MBA. I also got a Masters in Cybersecurity Policy as a second degree using the same program. My CISM and CISSP are much more valuable to me than that second masters is.

    All in all, I would not get an online MBA as a way to increase my business acumen for running my own business. Of the 8 or so students that were in my cohort from the beginning to the end, the only folks that really got any benefit out of their degree were those that were already in jobs where an MBA was needed for their current positions, or where they were competing against those with advanced degrees.
    Of those that actually need an MBA, nobody cares where you get your MBA from in the government/government contracting world. Degrees from University of Phoenix or Strayer are looked upon as "fake degrees" by those in the industry, although they are allowed by the government. If you do get an online MBA, do not get one from a University that advertises heavily. The more you see a degree advertised, the less it is really worth. In the technology/project management/ cyber security field, I would argue that certifications are worth more than degrees are.

    I wish you luck but would recommend against an online MBA. I would heavily recommend against going for an online MBA if you have to take out debt to do so. I would recommend an online MBA if your goal is personal development, and not if it is only for improving job prospects.

    Good luck!

    #10 5 months ago
    Quoted from zr11990:

    What do you guys think of getting an online MBA?

    It's a great game and getting one is a great idea, whether online or local. But MBA? Which version of Monster Bash is that?

    #11 5 months ago

    My wife got an MBA online and I finished my 4-year online. Both are from brick and mortar schools, in state, and we paced it so our employers paid for 100%. It was tough for some classes, but not hard. It was pretty time consuming though. We both got grade increases (basically a promotion, even though the job stayed the same) and pay increases, but the payoff had we paid for it ourselves would have been several years.

    If you have time and can fund the probably 20-50k it costs, it could help in a future job. As a business owner, probably not very much benefit if you already know your business.

    #12 5 months ago

    I thought you meant buying an MBA big ball bowler.

    mba1 (resized).jpg

    Never mind.

    #13 5 months ago

    How do you feel about learning to code? My GF spent the first 20 years of her professional life in theater and learned to write code in her early 40s. After a few years she was making nearly double what the arts paid - which wasn't much. She didn't get a degree (already had a fine arts degree), just did some boot camps and worked up from there. It is probably really dependent on how many tech jobs are available in your area, but way cheaper than an MBA.

    I have a undergrad business degree and having worked in cooperate jobs since college, I find it to be 100% useless. YMMV

    #14 5 months ago

    My business is going to shit. Wanting to do this to increase my chances of getting a decent job if I have to.

    #15 5 months ago

    What is your business?

    #16 5 months ago

    I own a used car dealership, buy here pay here. It sucks. Every day I dread going. If I didn’t have a family I would walk away. It has gotten slower and slower over the last few years.

    #17 5 months ago
    Quoted from zr11990:

    I own a used car dealership, buy here pay here. It sucks. Every day I dread going. If I didn’t have a family I would walk away. It has gotten slower and slower over the last few years.

    Sounds to me like you have a valuable skillset in sales/marketing. Were I you I'd keep running the business while I pursued opportunities elsewhere. If you put together a strong resume, beat the street, and can find a job that pays the bills, do so. If your business is not upside down and you have enough inventory to sell wholesale to cover the cost of closing your business, do so. But I would not leave the business you have until I had another iron in the fire and knew I could land on my feet. Even if you don't quit your business, but together a resume and go through the process of finding a job. You may find that you lack the skills or certifications to get the positions you want. Seeing why you get turned down can be a very valuable lesson and may teach you what skills, degree, or certification you need to succeed. If you have no issues, then take that job and put together an exit plan for your business. It sounds to me like you have already emotionally checked out of your job. Find out what you need before you invest the time and money in a degree, and good luck!

    #18 5 months ago

    why not go be a used car manager at a bigger dealership? its not easy to find people who really know that biz...

    #19 5 months ago

    So you have sales, financing, and entrepreneurial experience and have been in the automotive industry. Sounds like there are many avenues you could pursue. Your first priority is to determine how to leverage your real-life experience in adjacent industries or roles that you will enjoy. If you are really stuck, find a career coach and do some soul-searching.

    Have you thought about opening up a franchise of some sort?

    I don't think an on-line MBA is your solution. An MBA is not some magic bullet that opens up a lot of doors unless it is at a top-notch program with good networking opportunities or career services available.

    An on-line degree can demonstrate motivation and dedication, and can be useful in building a career track record, but that isn't really where you are.

    You need to determine what you want to do, then decide if an MBA helps you get there.

    #20 5 months ago
    Quoted from Xenon75:

    why not go be a used car manager at a bigger dealership? its not easy to find people who really know that biz...

    Once you have been self employed for decades its hard to work elsewhere, but I understand you have to do what it takes...

    I have thought many times about closing my business after 30+years but am not ready to work someones elses schedule...

    #21 5 months ago
    Quoted from sataneatscheese:

    Sounds to me like you have a valuable skillset in sales/marketing.

    Seriously, you are selling yourself short if you think Wal-Mart is where you are going. You can build a strong resume out of owning your own business.

    #22 5 months ago
    Quoted from zr11990:

    My business is slowly failing. I sell less and less each year. I would love to move but the price of property at good locations is just too high. If shit doesn't change its a job for me. At 51 and never having worked for anyone my prospects are slim, looks like Wal-Mart to me. I do have a BA in public relations and advertising from 30 something years ago but I'm sure that would be worthless. I'm thinking a MBA would at least help me find something that would pay my bills. Or maybe I just need to go real fast on the bike till something gets in the way. I have lots of life insurance. Kidding.

    Super easy and it will pay dividends. No one attends a physical university for MBA's anymore, Online is the way to go. Most programs are setup to let the student work, have family life and have time to study. I wish I was able to do my MBA online versus attending classes on campus. It was awful, away from my family, driving stunk. Go for it. Only downside is the classes they make you take that are not related to your MBA, but those go away quickly. Good Luck.

    #23 5 months ago

    Don't be so hard on yourself. I don't think your degree is useless. Work experience is more valuable than a degree in most cases. Unless you're interested in pursuing a career in a specialized field, I'd stay away from an MBA. And even if you are.. I'd say it's probably not going to be worth it when you consider opportunity cost.

    Figure out what kind of work you're interested in. Given that you just want to be able to pay the bills, that leaves you a heck of a lot of options. Then, go out and do some professional development in that field. That means the simplest certifications you can find. In almost any area of business showing that you're committed to efficiency, process improvement, and eliminating waste is an attractive entry on your resume. A Six Sigma belt certification would help to supplement your work and academic experience.

    Overall, be proud of what you achieved. You can pretty easily highlight the ability to keep a used car dealership alive in the age of Carmax and Craigslist as a positive. Be prepared to talk about your skills, complete with examples of how you've used them. Running your own business is unique, and gives you perspective into day-to-day activities that other applicants are not going to appreciate.

    #24 5 months ago

    Have you tried doing something creative and proactive with your business to attract customers?

    Set up a booth at local events/shows/expos?

    Advertise trade-in specials? Special rates for leases?

    Host an activity day of some sort? Maybe an Easter activity since that's coming up around the corner?

    Host a car wash day? Or, give one of the local schools a spot to do a car wash fundraiser?

    There's a dealership in my area where the owner does all sorts of stuff within the community. I assume he gets a lot of business from doing that, since I see license plate frames with his dealership on a large number of cars in the area.

    #25 5 months ago

    Complete and utter waste of time if your company isn't paying for it or you're going to an ivy league top tier school. An MBA is more about the networking than the information presented. Online is especially worthless as you don't even get the networking piece.

    Source:MBA grad

    #26 5 months ago

    Ever thought about doubling down and opening another lot in another part of town? Then maybe hire a couple good GM's and be more hands off. Just a thought. Good luck bub.

    #27 5 months ago

    zr11990, I don't know you but you sound burned out on the car lot, so the business itself continues to suffer.

    I love being an entrepreneur, I love creating new businesses and I've done it multiple times in my life. You more than likely have a ton of transferable skills that would serve you well in creating a new business. Screw working for someone.

    #28 5 months ago

    I have one, it’s fine. Undergraduate work in business was a lot harder and more in depth. MBA coursework is a mile wide and an inch deep.

    #29 5 months ago

    I have no idea how successful this guy is, but there are not many people more recognizable in the Tucson Metro Area. Population ~1 million. He has a new commercial for all sorts of times of the year. 4th of July, Xmas, seasonal changes, the list goes on.

    #30 5 months ago

    I have engineering degrees and an MBA, none online. However, my perspective is, as indicated here, an MBA is not a magic ticket to the jobs market. An MBA is not aquired knowledge, for me it was just practice in public speaking and working on teams and presenting information to a room full of people. Engineering on the other hand, is acquired knowledge, I knew something after 4 years of study that I did not know when I graduated from high school. My 2 cents..

    #31 5 months ago
    Quoted from KozMckPinball:

    I have engineering degrees and an MBA, none online. However, my perspective is, as indicated here, an MBA is not a magic ticket to the jobs market. An MBA is not aquired knowledge, for me it was just practice in public speaking and working on teams and presenting information to a room full of people. Engineering on the other hand, is acquired knowledge, I knew something after 4 years of study that I did not know when I graduated from high school. My 2 cents..

    I would agree with you 100 percent but my math skills are terrible. I’ll bet I couldn’t do 5th grade math after 30 years doing nothing more than adding and subtracting. Me trying to be an engineer would be a joke.

    #32 5 months ago

    As a person who hires and manages business professionals, I will tell you I put more stock in experience than I do in a degree any day. I love hiring people that have run their own business because they know the value of a dollar and they don't throw money away on frivolous things. Don't sell yourself sort, the value of running your own shop for many years speaks volumes. If you were in an then went bankrupt in a year I would agree with you, but keeping things going for any length of time in this economy takes some skill. My neighbor runs a couple of used car lots and it is a cutthroat business. You either have to go huge and spend a ton of money, or compete with the guy that sets up his lot for a month on the street corner and sells broken down crap and then disappears. The real money is in the service work if you have a facility...no one works on cars anymore. My dad would roll over in his grave if I paid for an oil change.....lol

    #33 5 months ago

    I have an MBA and it has opened doors for me, no doubt. But it opened doors to higher levels and oppotunities within my industry. Going into a new industry you will have to start at lower levels where you will be competing with low paid new grads. You’ll never get the financial return on the $$ expense you will incur with having an MBA at this point in your life. Also, for an MBA to be really useful, it needs to be from somewhere accredited or a higher level of prestige than an online program.

    My suggestions:
    1) bring in an outside consultant to see why your business is failing and make recommended changes

    2) sell the business and get as much as you can for it. Then take that money and start another business. Food truck, BBQ joint, etc that you would like to do for the next 10-15 years to retire on

    #34 5 months ago
    Quoted from cheshirefilms:

    Worthless. Actually, beyond worthless. Harmful.
    Will make you harder to hire for entry level jobs. Only reason to get an MBA is if it's paid for by your company after several years of service for purposes of making you more qualified for a senior leadership position.
    That or you go to Stanford or Chicago, which isnt going to happen without requisite experience and/or insane GRE test scores.

    I think it's the GMAT for MBA candidates...Was for me.

    #35 5 months ago
    Quoted from eyeamred2u:

    No one attends a physical university for MBA's anymore

    Incorrect. A co-worker just started in the MBA program at Michigan.

    #36 5 months ago

    I agree with what a lot of people have said already. The value of even a top tier MBA degree degrades rapidly as years go by. And, as other people have mentioned, a lot of the value in one is in the relationships, alumni network, and career placement capabilities of the university. Unfortunately, at 51, if you are looking to get into the corporate world (where MBA's are most highly valued) you are pretty hard in the face of blatant age discrimination in hiring. My former big 3 employer just made separation offers to everyone with more than 12 years of service. (Depending on how cynical you are, so that younger, healthier, cheaper hires could replace them.) I would say your background as an entrepreneurial small business owner, makes you a lot more suited to work in a small or medium-sized business. And, they tend to be much less concerned about degrees as the credential collecting large firms with bloated HR departments are. As others have said, you have all kinds of talents, like P&L level general management, sales and marketing, negotiation, "soft" people skills, and on and on.

    It would be worth visiting your local or state employment office, for some free career counseling, where they could help you assess your skills, format them into a resume, and see how they match up with what's hot in your area. Like anything, there are good and bad experiences with government run employment centers, so your mileage may vary, but around Michigan, where there has been so much downsizing and such, they are surprisingly good. Other resources to think of are the local chamber of commerce, quasi-governmental agencies like business accelerator groups, or small business incubators, and potentially junior college or state college placement offices who have somewhat of a public role to benefit the community workforce. Finally, if none of that works out, the classic career management book, "What Color is Your Parachute?" by Richard Bolles is worth working through, although it is more tedious to go through on your own.

    #37 5 months ago

    So I would say you are burned out. Sell the business, start another one where you want to put in energy again. What you lack is passion, not experience. And usually about the most useless advice I get is from MBA. An MBA is for a person who wants to learn about running a business, not actually run one. And if you can’t find the passion to do it yourself, team up with someone else. Once you’ve worked for yourself it’s damn difficult to work for someone else. And really you shouldn’t have to. Having run your own business you know more than they do. I started one startup business at 45 and my arcade at 51. I enjoy both and I want to be there. And I do this all the while being a doctor that I also enjoy. Your skill set can’t be easily replicated. Put it to use doing something you want to do, not something you think you have to do. Life is too short to not do what you want to do when you have the capability to direct your own life. Good luck.

    #38 5 months ago

    You think that your business failing is the end. No, its potentially the start of a new beginning. Yeah it’s scary. Every new beginning is scary. But eventually it is not and you will find a new direction and one you probably didn’t think was possible until you made to move and took a risk

    #39 5 months ago

    Look for jobs in sales or take your life long career as a self starter and apply for management positions in smaller companies like cell phone or fast food. If you want something different do a trade job like hvac or plumbing. Wish you the best of luck.

    #40 5 months ago

    I wouldn't encourage getting an MBA unless you are currently working in your desired field and have had superiors encourage you to get one to further your career.
    I worked while I put myself through school. When I started I had a basic office job making $25k and went to school at night. I had no money so i took a job as a personal trainer so I could make more and set my own hours. I continued to do so while earning my MBA and by the time I was done I was making more as a trainer than any of my job offers. Plus EVERY interviewer would ask why I left my office job to become a personal trainer (implying that my education didn't mean anything without the job experience).
    Basically if they are looking for someone with an MBA, they are also looking for someone with 5-10 years experience in that field. You (and your resume) should heavily focus on all of the skills and attributes you have acquired by working for yourself and how those experiences increase the value of what you can contribute to a company.

    #41 5 months ago

    I got my MBA at age 45, and I would not suggest doing it unless you are very clear on exactly what you intend to get out of it. For me, I was making a transition from being an artist to being in marketing, and I needed the degree to signal that I was serious about business. I also wanted to build a network of people here in CT because I’d just gotten laid off—very hard to job search when all your contacts are job searching too. I chose a part-time program over an online one so that I could meet people in person.

    Some goals that I think an MBA is good for:
    *Gaining basic understanding of different facets of running a business
    *Checking off a box for a current role

    Depending on your program, it can also be excellent for introducing you to people from all different fields, both among your fellow students and with guest lecturers. (I’m a little biased to in-person programs, as the people I know who’ve gone the online route don’t seem to forge strong connections with their classmates, but ymmv)

    I don’t find MBA’s particularly useful if you have a lot of experiential knowledge, or if you generally expect it to “open doors” without really knowing what doors or how it will open them for you. And it’s a LOT of work! If you’re 30+ years out of school, you’ve likely forgotten how annoying it is to have assignments due!

    Finally, MBA’s can also be useful in developing strategic “big picture” thinking skills, but I found that it wasn’t through a specific class—rather it was through the depth of understanding I gained across all of my classes and from socializing quite a bit with professors and students. This is where I really would caution you about researching online programs. As you might notice from here, message boards rely heavily on the caliber of posts to be useful. If the teachers don’t heavily push for dialogues, it can be very difficult to develop the higher level thinking across courses.

    As a side note, the quality of the program also can affect how the degree is perceived afterwards. I don’t think it’s limited to just a handful of “worthy” schools unless you were looking to get into highly competitive fields. But in our area, I can think of about 4-6 online programs that are respected, and then the rest are viewed as little more than degree mills. You don’t want to put in all that work just to have a degree that doesn’t add anything to your resume.

    Hope that helps—good luck!

    #42 5 months ago
    Quoted from pookycade:

    Having run your own business you know more than they do. I started one startup business at 45 and my arcade at 51. I enjoy both and I want to be there. And I do this all the while being a doctor that I also enjoy. Your skill set can’t be easily replicated. Put it to use doing something you want to do, not something you think you have to do. Life is too short to not do what you want to do when you have the capability to direct your own life. Good luck.

    These are very valid points. I personally chose the military and then government contracting, but small business skills are very transferable from one business to another. My dad has a little college. He opened a water bed/billiards store in the 70s, sold that and opened a small chain of mall sunglass stores, sold those and opened up an amusement park, sold that and opened up a magazine/video gambling store, then sold that and opened up a health club, sold that and moved to another town to open a health club, and now owns a chain of 7 health clubs and play landlord to a host of properties. They opened their first health club at 53. Of these, the amusement park succumbed to competition and the video gambling place to government regulation. None of these businesses have anything to do with one another, and I don't think my parents really enjoyed what they did until the health clubs. My mom played book-keeper in all of them. The point is, your skills in buying and selling cars, managing inventory, and managing employees can likely be transferred elsewhere. I know they hated the amusement park towards the end, but love the health clubs.

    #43 5 months ago
    Quoted from cosmokramer:

    but am not ready to work someones elses schedule...

    5422a8c556f126809f35cd29768a03eb (resized).jpg
    #44 5 months ago

    This career may not be what you had in mind but if you get your Class A CDL drivers license which qualifies you to operate over the road semi trucks, you can make a lot of money. Some trucking companies specialize in short runs where you are home most if not all nights. I understand Walmart is paying close to 90k plus benefits. There is a huge shortage of drivers so you can pick and choose the company and type of driving that suits your circumstances. Once you drive for a few years, with your business experience, you may be able to move into a management position.

    #45 5 months ago

    Another idea. Auto detailing. You may be doing that now but you could expand that business as a stand alone and include auto dealers as customers; detailing their trade ins for eventual sale. Open a drive in car wash as well. Not many people ( other than Pinsiders) wash their own cars these days let alone detail them.

    #46 5 months ago

    An online degree can be just as viable as traditional if it comes from a good institution and it was a good program. You do not put “online degree” on your resume so you just say you have an MBA from whatever school. That being said, now more than ever employers are willing to overlook the lack of a degree if you have the skills to do a job so if I were you I would try that avenue first, highlighting your sales and marketing skills as others have said. You could consider getting a professional career counselor who can help you understand your own value and how to market yourself - one helped me tremendously a few years ago. I would try this before going through time and expense of another degree. And heck you already have a BA in marketing (and why do you think it’s worthless? I doubt that). Good luck!

    #47 5 months ago

    MBA was the best time of my life!

    But I don't think you need one, you've ran a business got some skills, go try and find a job and see what happens...

    #48 5 months ago

    I have an uncle that was a suit for Coca Cola for ever and now drives truck for UPS. He makes great money and is home with less stress. Budman makes a great point. Be a professional tourist.

    #49 5 months ago

    I'll just reiterate what fattdirk said. Everyone i know who has an MBA touts the networking aspect not the coursework.

    In some cases you have to spend money to make money, i don't think you should in your situation.

    #50 5 months ago
    Quoted from Budman:

    This career may not be what you had in mind but if you get your Class A CDL drivers license which qualifies you to operate over the road semi trucks, you can make a lot of money. Some trucking companies specialize in short runs where you are home most if not all nights. I understand Walmart is paying close to 90k plus benefits. There is a huge shortage of drivers so you can pick and choose the company and type of driving that suits your circumstances. Once you drive for a few years, with your business experience, you may be able to move into a management position.

    But it's work mister, it demands the best. And whether your run is on Interstate 70, or hauling freight down the Eastern seaboard; if you're a gear- jammer , there ain't no easy run......

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