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This was an awfull accident with the bridge! What were the enginiers thinking!

Jay

Hi Carl

A couple of things I don't like about part-time programs. A full-time program takes less than two years, a part-time program takes three or four. It's tough to keep that momentum up for that long.

Hiring managers do not appreciate part time programs. You got your MBA from where? at night? The only exception - Chicago.

If you stay at the same company, you get zilch after you're done.

Also, look at the other students. A top full time program attracts extremely driven and smart people. A great base to build a network. You get to hang out with these people build friendships, explore stupid subjects and experience really smart people (even the profs are interesting) A part-time program attracts good people but how much time do you want to spend with them when the class starts at 7pm ends at 10pm, you're tired from working all day and you've got an 8am meeting the next morning?

Yes it is a finacial burden to quit and go to school for two semesters but a full time program at a quality school takes you off of one track and puts you on another.

You've got some great schools very near you in Illinois, Indiana, and Ohio, gulp even Pennsylvania. Look at the Business Week, US News, or WSJ rankings and then look at the statistics of what theys people are making. Huge.

My experience. I went to Indiana. Quit a system programmer job making less than $30k, spent two years out of work reconnecting with my finance roots, borrowed $15k, and then got a job in a treasury department of a multi-national company that paid about $45k (I graduated in 1992, a terrible year for getting a job). I lived in a dorm on campus and loved most of it. I was 27 when I finished.

The part-time stuff is nice if you're going to school, but if you're trying to ramp your career. Full-time is the only way.

Carl

So why is a part-time MBA program no good? I would think that someone participating in a part-time program would be more of a go-getter, than someone going fulltime. Isn't it much easier to do a full-time program - get to focus on the job of school, and get out? Doing it part-time, to me at least, seems like something that would take more work, and require someone more committed. From a pure financial standpoint, I'd end up burning though money to get a full-time MBA for 2 years, while having zero income!

Jay

I'll throw my two cents in on both San Francisco and the MBA.

I moved from Ft. Worth to the Bay Area seven years ago. When in Ft. Worth I owned a house that had a rental house with it. Sold it for $103,000. My mortgage payments was about $750 (rental income of $425). My rent when I moved to Redwood City, less than a block from El Camino and the railroad tracks was $1,400 +$100 for a storage garage. How's that for sticker shock! (Prices are about the same today) Found the same house set up as I had in Texas and it was priced at $625,000. I went from a salary of about $65k to $95k. People from other places say that there real estate is expensive, well they've never been to the Bay Area. The house across the street from me just sold for $910,000 it's 1,500 sqft, 3bd 2ba, no yard, small galley kitchen.

But throw out housing and it's not much worse than any place else, you just can't get caught up keeping up with the Jones'. I don't think it's the cost of living that is bad about the Bay Area. It's the life style - I think it's oppresive (except the weather is really nice).

Bill, I'm surprised you haven't thought of the benefit of higher salaries out here. It enables you to put more into your 401K. If you're making $65k maxing your 401k is 23% of your salary (assume $15k is max this year). If you make $95K maxing is only 16%. Also an annual raise of 5% is better on the bigger number.

Now on the MBA, if you want to crank up your career in a different direction and then getting your ticket punched with an MBA is the one proven way to do it. Do it full time at a top school. (You can also do a very strong regional program if you don't want to leave the area you live in - full time though) I can't stand the part-time programs, they don't do you any good. The MBA is all about networking, changing attitude and re-directing yourself. If you don't have a business background get one. Everything we do in our work-life is business and politics.

cahoots

I wonder what one stands to gain from an mba....if its is all I am hoping it will be.Doing an mba has been on my todo list...i hope to get to it within 1 yr. Would you be kind enough to give me your opinion about part-time vs full time mba. Though i can't pay for the full time, I am wondering if it will be worth taking a loan out for. thanks,C

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