UT Austin / McCombs - Note - 05-24-2017

May 24, 2017 2:40pm ET

Note about UT Austin / McCombs

Round: Round 1

Received via email

Post MBA Career Name: Consulting

Note:

So this is just because I'm super struggling... I got into UT and loved it but (if I'm lucky) I'll be in around 90k debt. I make a lot of money now (close to what they're assuming if you get an MBA) and I could just do an MBA online, not quit my job, and probably transition into the career I want. I realize it wouldn't be the "full" experience but I just can't wrap my head around paying so much for two years of something I could do for half the price and not quitting my job. Any advice is awesome.

Like (0)

Show Comments (21) Last: May 25, 2017

Anonymous Likes Earned: 0 If you didn't get a scholarship, you are correct. Online MBAs are becoming more common and acceptable, and some of the better schools are starting to offer online programs. If you think about the cost of attendance + forgone wages + forgone contributions to your 401K and the compound interest implications thereof, you might be better off sticking with the pay check and going online. (0)

OP Likes Earned: 0 Yeah, I really wanted to go but man, it's so hard to spend (and lose) that kind of money. I know it would be so fun but it seems so fiscally irresponsible. The network would be great but is that worth 100k? Not sure it is. (0)

Anonymous Likes Earned: 0 At the end of the day its not always about money. If you want to transition/pivot to something else and need a full time MBA to do so, then do the full time. If you don;t need the full time and can network on your own, or don't want to transition, then stay doing what you're doing. No one can give you a crystallizing answer with such limited information. (0)

OP Likes Earned: 0 I also know that, just thought I'd see what this site thought :) (0)

Anonymous Likes Earned: 0 Whats the price difference between an online program and a part time program? I'd still recommend part time over the online one if money isn't too big of an issue. You can still work full time and take evening or weekend classes. Its hard but you can get some of the experiences of a full time program and also network. What career are in right now? Do you need a MBA to transition in the career you want? (0)

OP Likes Earned: 0 Price isn't as big of a deal, the issue I have is that the part-time deadline passed awhile ago, and the online is open for like 3 more months and it's accelerated so I still get it done in 2 years. I do need an MBA to transition so either way I'll be pursuing it in the next year. (0)

Anonymous Likes Earned: 0 If you are life isn't going to drastically change, in terms of money you are going to make or a career switch to a new function, I don't see the point of the MBA. Except maybe building a strong network. (0)

OP Likes Earned: 0 I do need an MBA to switch careers, so it's not a question of if it's a question of how. I am leaning to online because that's the cheapest and it'll give me opportunities to switch. I just am dubious of how much better a full-time MBA is, and wondered if anyone had good insight. (0)

Anon Likes Earned: 0 Why don't you look into part time programs? Assuming that you can commute to a good b school from your current location. Also, I think an MBA is helpful not only salary related, it depends a lot on your goals. I think it is important to know your goals and also how can you transition into the career you want without the MBA? (0)

OP Likes Earned: 0 I can do a part-time, just not this year. The deadline passed a few months ago. So, I could but it would delay a year. I've also tried for about three years to transition into what I want to be doing and the feedback I've gotten is I need an MBA. I want to get one so it's more of a guarantee (although I know nothing is) that I can go the route I want. (0)

John Likes Earned: 0 Given your concerns, I would apply to the online, and then if you decide you want to go in person, apply to the part time this fall (which is not far away!) (0)

Anonymous Likes Earned: 0 It's traditionally very difficult to switch careers from part time programs but it can be done with a good network and WE (personally I wouldn't pay a dime for an 'online' MBA program though). What kind of transition are you talking here? Making a claim that you could 'probably transition with an online MBA' is very speculative IMO unless you know no folks who have done this and we're not talking about a transition to a mainstream consulting firm (0)

Anonymous Likes Earned: 0 If you like your job, definitely do not give up the salary!! I had a bunch of friends that did and regretted it -- its hard to go full time and give up the lifestyle. Alot of people do full-time at least partly to get out of jobs they hate. If you can abide staying there while you do an online or part-time degree, you should probably do that. (0)

OP Likes Earned: 0 I love my company, I just want to get into a more management-focused role and they basically told me I may never get there without an MBA or some experience. I have tried a lot of avenues so I really don't see a way around getting an MBA (just the way the company is structured). My job is definitely not something I want to be doing, but I know how hard it would be to give up having enough money to live pretty well. (0)

Anonymous Likes Earned: 0 I really recommend you waiting to apply for a PT program. The online program just doesn't seem very worth it to me. You miss out on the networking and the social interaction that you'll really need to make a career switch. At least the PT program can provide some of the FT experience. I have a lot of friends who went to USC's PT program for career switches and are very happy with where they are at right now. If you are really unsure, I suggest talking to the people at the McCombs PT program and see if they can connect you with a student in the PT program who is in a similar situation. I think it would be more beneficial for you to talk to that student. (0)

OP Likes Earned: 0 Even though PT is closed and I'd have to wait til next year? I truly appreciate all the help you have all given! (0)

Anonymous Likes Earned: 0 Better wait until next year for PT. You will be glad that you did. Many companies don't have respect for online MBAs. (0)

@OP Likes Earned: 0 Yes, even if PT is closed and you have to wait until Fall to apply. It seems like time is a factor in your decision, but the extra years for the PT is worth it over the online MBA, especially if you are planning to switch careers. You can even begin planning your career switch once you get accepted into a PT program. You don't necessarily have to wait until you graduate you switch. PT programs are usually more flexible too if you decide you don't want to work anymore and take extra classes to finish faster. You should double check with the school, since different schools have different flexibility. (0)

Professional >>> Online Likes Earned: 0 I am in your exact same shoes. I currently have a great job, but just want to pivot industries and functions post MBA. I decided to do the Rice (Jones) Professional MBA so that I can keep my job and have zero debt. I would highly recommend waiting the extra year and apply in the Fall for the Projessional programs, over signing up for an online curriculum. Online is basically to check a box, you wont learn from your peers as you would face to face. I hope this helps but I would advise you to wait and go part time. The one caveat being if you want the Full Time experience. Then the debt wont make that much difference in the long run. Just depends on what you are willing to pay for. I just couldn't wrap my head around 2 years of lost wages totaling ~$300k when I could go at night/weekend. (0)

Anonymous Likes Earned: 0 If you can transition in house from one role to another and don't need to recruit, then PT seems like the best option. Even UNC Kenan Flagler online might suffice in your position. But obviously clarification from HR would make your choice more lucid. (0)

OP Likes Earned: 0 Just emailed the company I would like to end up working for and they said as long as I have a good school on my resume it doesn't matter which format I get the degree in (I mentioned the online option). I have a very specific job function and company I am targeting, and since I'm communicating directly with the recruiter I assume he's not lying to me. Anyway, thanks again for all the thoughts! (0)

<< See more LiveWire entries from UT Austin / McCombs