Hi Canadian Rennlisters,

Completely off topic but I'm looking to see if anyone on here has experience in going back to school mid-career. I'm considering pursuing an MBA and would like to get some advice from anyone who has been through the process, and the usual questions of ROI, the "brand" of MBA, your network / connections in how there was mutual benefit. Given the demographic on the forum, I thought to take a stab at asking. Thanks!

 

Did this less than a year into my engineering career. I did it part time and it took approx 4.33 years to complete the MBA. I stuck with engineering work-wise, but other engineering friends who did this completely changed track pursuing careers in Finance, Marketing, etc...

Not uncommon at all for the MBA to take you places you hadn't considered when you're younger...

 

I completed my MBA in my early 40's while working full-time. I was already working as a VP/GM for a Fortune 500 for 12 years, so I did it primarily to level the playing field against other candidates for future jobs. I was accepted for the Queens program and wanted to go that route, but my company would not allow me to take time off during the week for the in-class portion of the program. So, I had to go with the best on-line program at the time which was Athabasca (this was in 1990). Now there are so many brand name schools with on-line programs, I would go with the best/better school for brand recognition. To be honest with you, no one has ever really talked much about my MBA during an interview, but I know that having one certainly enabled me to be considered as a candidate.

The Athabasca program typically takes 25 hours/week to complete. I was able to do it in the 16-18 hour range. Hope that helps!

 

My spouse is currently doing her executive MBA at Ivey, while continuing to work full-time. I think it's a 15 month program and it is pretty intense. Once a month she is in downtown Toronto at Ivey's remote campus for in person classes (Thursday to Sunday), and the rest of the time it is self-study and group assignments. Lots of reading for her on the weekends which will free me up this spring/summer for lots of cruises without the associated guilt!

 

I have an MBA from a lower-tier (in terms of perception) school, I have friends who got theirs at top-tier schools, paying over 5x what I paid in tuition.

The general consensus we've landed on is that if you're looking to put a nice gloss on your resume and give yourself an advantage among otherwise like-qualified peers in your existing industry, a cheaper MBA will do the trick.
If you're looking to change industries/careers or get into a prestigious consulting firm (for example), you need to go upmarket. Not only for the education, but also the networking that comes with it.

Funnily enough, I hadn't even considered doing it. Wasn't in my plans at all, until an old co-worker left to go and do his at Northwestern. I thought "ah, that sounds like fun and a good way to make friends". So I found a school that had a part-time program and went for it (I knew so little I thought the GMAT was like an intelligence test that needed no preparation!).
That was in my early 30s though, before marriage and child. It's paid itself back many times over. My current job pretty much mandates having one - doesn't matter from where - just that you need one.

 

Really becomes a factor of your age and where you are in your career title and total compensation wise. I've thought about it but given my role, expertise and my industry the payback would be pretty minimal at this point. I'm almost 50 with 15 years senior exec experience in Sales, Marketing & Ops. I'd even get advanced standing because of my BBA but I still cant make the math and effort work to convince me to pursue it.

If I applied that time and effort to complete an MBA to a side hustle whether it be consulting or launching a small business, building STR portfolio etc etc it would likely pay me back 10X what an MBA at a top tier school would at this point in my career / life.

Also as someone who has hired my fair share of middle and senior managers i personally give the online schools MBAs little to no credit in the way I view and rank potential finalist candidates. The cost differentials between top, mid, and lower tier programs arent just brand recognition.

 

I would agree with this 100%. In the field that I work in (manufacturing), especially at the GM/VP/Pres level, your actual work experience and accomplishments carry more weight than your specific degree or school. Also, many employers carry out intensive testing for top candidates and that often plays a key role in their perception of you and your ability to learn - especially when it includes IQ testing.

 

Thanks to everyone who has responded. This is great insight.

For context, I'm in a senior manger role but looking to achieve two things:

1. Get to the next level (Director+)
2. Potentially leverage this education as an exit strategy to change industry/sectors.

For what it is worth, I am in the telecommunications industry. There are only really three major players in the Canadian market and Canada is, for all intents and purposes, very small. The company I work for has been good to me a majority of my adult working life, and I have invested a lot into this company, but I feel maybe it's time to see what else is out there. I am okay staying with my company but I want to make a move and to make an impact. I know this sounds lofty, but I want to have an edge when it comes time to get to the next level.

@Pags993 If I am reading your response correctly, are you suggesting that you value a candidate who has completed a true full-time MBA over an online-based MBA? I ask because there are some online-based MBA programs from top tier schools like Harvard and the like.

 

@bcrdukes Congrats on having the drive to want to take something like this on - many don't have what it takes to do this. Some advice from someone who has been working at the VP/Pres level for 30 years and has hired dozens of people. Regardless of what school you went to or what program you took, those interviewing at a senior level are digging deep to learn your full story. I love it when someone comes in that completed their studies while working full-time or raising a family - or both! That tells me a lot about them and leaves me with the impression that they will do whatever it takes to be successful. Also, I tend to value experience more than a degree unless it is in a technical/financial position - then I want both. I have sales reps working for me making a VERY good living that have no post-secondary education at all. They are naturally smart and learned our business inside and out. I could care less if they had an MBA.

Also, depending on your field, most of the people that are going to hire you do not have graduate degrees and probably have no idea what it takes - on-line or in person. So, I wouldn't worry too much about their perception of the school you choose. Find the program that you like best, that fits your current lifestyle and your budget and get to work. Get good grades and then tell your story well in an interview. The MBA will help open the door to get the interview. Your accomplishments, experience and how well you sell yourself will get you the job. Good luck!!!

 

No sorry meant that most fully online options in my experience belong in the low tier category brand name recognition / educational content wise. The educational / case study content of the Harvard online offering vs the Australian Institute of Business online offering are obviously worlds apart.

Based on your additional info provided I think you are in the meaty middle as far as the positive impact it will have in your senior role aspirations. Have you inquired as to whether the co you work for has a support program tuition wise? If you have been deemed a Hi Po in a succession planning matrix exercise they will often fund sometimes up to 50% of the cost for the right candidate with a time commitment to the company after completion of course. Def a discussion to have with your direct Mgr and HR as it also clearly identifies your appetite for more.

 

My 2c on the online MBAs...

Personally, I don't give them as much credence as doing it in-person. Caveat this by saying I've never seen the structure of an online MBA, but I assume it'll just be watching a ton of content, then writing papers, taking exams. Perhaps some remote group work.

A large part of an MBA is the experience and skills you pick up doing it in person. You don't have to go to the depth of competing at the MBA Games (that's a thing, btw) - but everyone needs to experience a case competition or two.
Get thrown in a random group. Here's a case. Here's a room and a whiteboard. Come back and present in two days. I just can't see it being the same on-line.
The experience you learn here is how to deal with people in your group. How do you lead? How do you deal with the slackers who kick back and let others take on the lion's share? How do you navigate those dynamics?
Then there's the whole friendship building and networking aspect that goes along with it.

The online MBA will get you the degree, but you'd be missing out on a large chunk of the entire experience, IMO. If your lifestyle allows for it, prioritize in-person. Again, just my 2c.

 

If I could have completed my MBA in person, I would definitely have done that. However, at that time I was running 3 sites, making customer visits and visiting corporate in the US monthly. I discussed this with the Queens intake clerk they told me that I had to attend classes regularly to maintain my standing in the program. She basically said that I would be foolish to even attempt the program with my schedule. That left me the choice of distance learning or nothing.

I chose a Canadian accredited program that was a leader in distance education at that time. We had daily course ‘discussions’ that were graded for content and participation. Regular group work, 2 weeks per year of on campus classes with major presentations and 3 weekend in person courses/year. Once again, not as good as a fully in-person experience, but a far cry from how some visualize these programs. Keep in mind that this was 20 years ago. I’m sure today’s on-line programs include much more interaction given the tech advances over the past 2 decades.

For busy people like me, the flexibility of the program was crucial to my success. I studied at lunch and every evening after my son was put to bed. I’d take vacation days when I had projects and lock myself in my office at work and do 8-10 hour days non-stop. I remember studying in the hospital when my daughter was born 2 months premature.

My company paid for my program 100% ($38,000 back then). I had to stay with the company for 2 years after graduation or pay them back if I left.

 

know the names of the assessment companies?

 

I find this topic interesting as I’ve considered the same. Already have a wealth of work experience. But the letters may help open a door. My interest is in exec MBA or JD.

MBA doesn’t equal success. Lots out there with MBAs that are not impactful in the real world. Need to be able to apply what you learn. Also text book doesn’t always translate.

It seems great for those who don’t have broad business experience. Will get you that intro through the various business functions.


still considering though. Will see.

 

I’ve done a couple of them with larger recruiting firms, but the most comprehensive was with Korn Ferry. 2 full days of assessments and interviews at a cost of $10,000 in 2005. British private equity firm bought Vita Foam North America and assessed me for a senior role.

IKO did it in-house (sat across the desk from the VP HR as I did an IQ test) and CKF used an on-line testing group, but I can’t recall the name.