Keep going to school or quit?

**jasonnoguchi** · 11-12-2009, 04:28 PM

Focus on getting a job. There is no end to cutting back. Once you put your focus on cutting back, you move focus away from getting a job, you will find yourself cutting back on a lot more things than just your MBA.

**m3racer** · 11-12-2009, 05:48 PM

This is a no brainer....get your MBA.

**lovcom** · 11-12-2009, 07:53 PM

Yea, get your MBA and destroy your financial life. :-(

This is far from being a no-brainer....why rack up massive edu debt if you don't have to?

Timing is everything....I would put the MBA on hold if you can and focus on getting a job...first things first...get a job, resume the MBA program. Often edu debts are not worth it....don't rack them up if you have other options.

**project15** · 11-12-2009, 08:05 PM

Put it on hold until you get another job. Your credits will be valid when you pick it up again.

**cschin4** · 11-13-2009, 12:21 AM

This is a no brainer....get your MBA

Why is that a "no brainer" ? Having an MBA is no guarantee of a job. I do NOT think the OP should go into that kind of debt at this point. I do think the OP should consider getting the MBA but do so part time while working.
But, if married and the OP has a working spouse and no other debt, then maybe it would be a good time to just go "all in" and focus on getting it done as well.

**buildmybudget** · 11-13-2009, 05:11 AM

I have been attending a part time MBA program while working full time and my wife works full time as well. Essentially we are a DINK couple, but since we are paying for this private-school MBA out of pocket it's like having 1 or 2 kids. It's laughable to think this is a no-brainer decision. If I remained unemployed and just finished the program at the current cost, we would incur an additional debt of around 40k. Like I said, long term the MBA has value but short-term it could really do some damage to us financially, etc.

**am_vanquish** · 11-13-2009, 05:24 AM

I tend to find that the value of an MBA varies greatly depending on the individual's experience and industry. Was the MBA's purpose to change career paths altogether or just serving as a career "boost"? Also, what field have you worked in & for how long?

**LivingAlmostLarge** · 11-13-2009, 05:26 AM

But then once you are done you have more time to have a family, focus on a career, etc.

Really it depends on if you can find a job fast. My DH is finishing his MBA this December part-time. It has cost us $75k when all is said and done, because of books, tuition, etc. Private university, no public options.

Was it worth it? I don't know, but I do know it has been hard on our relationship the investment of time these past 3.5 years. I've picked up a lot of slack and NOT cared until I got pregnant.

Now I find I'm really struggling physically and emotionally. I have a dog with cancer, trying to finish my degree, no support at home because he is at work or school or studying/meeting with teams. Because the baby is due in Feb he's pressured to finish his last few classes, and refuses to consider dropping them to finish later.

I supported at the start of the semester, but my god it's hard. He is physically exhausted to boot. I get him up 1-2x night for our dog and he basically is up 6 am to 12 am working, studying, or home repairs!

My take is it depends on where you are in your life. The baby was planned, but we just didn't think I'd get pregnant the first try. We were told it was highly unlikely without surgery so we tossed BC and were planning on surgery. HA!

**lovcom** · 11-13-2009, 12:39 PM

Originally posted by LivingAlmostLarge View Post

But then once you are done you have more time to have a family, focus on a career, etc.

Really it depends on if you can find a job fast. My DH is finishing his MBA this December part-time. It has cost us $75k when all is said and done, because of books, tuition, etc. Private university, no public options.

Was it worth it? I don't know, but I do know it has been hard on our relationship the investment of time these past 3.5 years. I've picked up a lot of slack and NOT cared until I got pregnant.

Now I find I'm really struggling physically and emotionally. I have a dog with cancer, trying to finish my degree, no support at home because he is at work or school or studying/meeting with teams. Because the baby is due in Feb he's pressured to finish his last few classes, and refuses to consider dropping them to finish later.

I supported at the start of the semester, but my god it's hard. He is physically exhausted to boot. I get him up 1-2x night for our dog and he basically is up 6 am to 12 am working, studying, or home repairs!

My take is it depends on where you are in your life. The baby was planned, but we just didn't think I'd get pregnant the first try. We were told it was highly unlikely without surgery so we tossed BC and were planning on surgery. HA!

Gosh, put the dog to sleep!! Your husband's need to get a good nights restful sleep is a million times more important than any dog. If I were your DH, I'd have shot the dog a long time ago, and I'm a dog lover too.

The $75k for the MBA is nearly never worth it, regardless of the industry, and such. There are other ways to double one's income, and the only times an MBA will help is when usually when one's employer pays for most of it. Gosh, $75k out of pocket will not show ROI for many years if not ever.

I'm really sorry you had to endure such struggle during his MBA program.

**Scanner** · 11-13-2009, 02:18 PM

I kind of go along with the sentiment to shelve the MBA for now.

If this were a degree that led to a marketable skill, like nursing, some IT certification, something like that. . .I may be more apt to say hang in there.

But an MBA just says that you are really edumacated. In blunt terms, I think that and $5.95 buys you a cup of Starbuck's Coffee in this economy. I am not, not saying it's a worthless degree. . .I just don't see in conferring that much of an advantage.

In fact, it may confer a disadvantage in that a company says, "Gawd. An MBA is applying. . .that means he'll want $X,XXX,XXX/year."

I read an article a few months ago that was good. They said one of the biggest tragedies of the finanical crisis was the loss of human capital, that we sent too many bright people to learn about "high finance" and get MBA's instead of sending bright people to learn engineering for alternative fuels, or nursing degrees or whatever. . .something more "hard" and less "ivory tower."

Instead, we became a nation who made "toxic waste financial instruments", packaged them up and sold them overseas. And I think we are still reeling from that. It will take awhile for "human capital" to shift.

Well, I got a little preachy/political but don't be afraid to shelve it or even abandon it.

**m3racer** · 11-13-2009, 05:28 PM

If your MBA has the potential to open the door for a high paying position (ie. >$100k) than why wouldn't you? I would think long term. If you think there's no potential to make a huge jump in your pay with an MBA than don't pursue it. Only you and those in your particular field know this answer. I think you need to ask yourself a more important question. Why would you rely or even entertain the opinions of those who not are not as accomplished as you. Let's take a poll and see who's giving you advice on this thread. I bet most of these posters don't have a professional degree let alone a college degree. I'm just playing the numbers. The fact is less than 30% of Americans have a college degree. You're in an elite group and have the potential to attain something that can open many doors. $53k is chump change in the whole grand scheme of things in your particular circumstance. Talk to people who have MBAs and see what they think. Good luck with whatever you decide.

**m3racer** · 11-13-2009, 05:29 PM

Originally posted by am_vanquish View Post

I tend to find that the value of an MBA varies greatly depending on the individual's experience and industry. Was the MBA's purpose to change career paths altogether or just serving as a career "boost"? Also, what field have you worked in & for how long?

Great points!!

**MonkeyMama** · 11-13-2009, 05:50 PM

Not enough info. I know too many people who got MBAs that were completely worthless.

What kind of work were you doing and what kind of opportunities do you envision with a MBA? What are your goals?

From my personal experience, I wouldn't waste the money.

But, there are obviously situations where it would make sense. So I am a bit curious about your situation.

From my personal experience, I know it can vary dramatically by region, too. Do you have any mentors you can discuss this with? BEcause really, talking to someone in the job you want to be is far more useful than asking this type question on a forum like this. I have relatives in the same field in other states who *needed* a MBA for the same career path. Whereas in the region I live in, a MBA would be career suicide. It can make that much difference. I personally don't have a higher degree, because it is worthless in my chosen career path. So why would I waste the time and money?

**sakigt** · 11-13-2009, 08:50 PM

Find a job that will pay for the MBA....

Keep going to school or quit?