<p>I'm considering doing an MBA or PhD in EE and am having trouble deciding between the two. I'm currently in an MS program and have been accepted at the same school to the PhD program. I've already got a professor lined up and I would be getting a 28k stipend for 4 years. I would also have an opportunity to do internships over the summer so I would actually be getting paid more than 28k if I did that. I have a good rapport with the professor, the research interests me, I like the school, and I like the discipline. However I also realize that a PhD has an affect of confiding you to a research/academic role. I would like to conduct research and I would consider becoming a TA to see if a career in academia suits me (even though the TA role wouldn't be required on my part) but the idea of becoming confined in those roles is a bit unnerving. Although right now I like the idea of having to do research I don't know if it's something I would like to do forever and ever. I also have a fear of having the passion for my discipline sapped out of me. I've heard of plenty of people washing out of the PhD program because although they like the topic over time they became tired of research and left without a PhD.</p>
<p>On the other hand I think I would enjoy getting an MBA too even though the topic doesn't interest me as much as the sciences. I realize that an MBA is a more versatile degree which is appealing to know that I could have more career options with it, not just research/academia. Also I think an MBA would pay more (but correct me if I'm wrong). I guess it probably depends on some factors as well. I don't think I could ever get into a top program, I have a humble 3.3 GPA and my GRE was 1350 if I recall correctly (on a 1600 scale I believe), not bad but nothing impressive either, so I'm guessing I would score similarly on the GMAT. So given the schools that I could realistically be able to get into based on my GPA/tests what kind of salary should I expect with an MS/MBA combo?</p>
<p>A PhD in electrical engineering doesn’t necessarily confine you to being an academic; some PhD-level engineers work in industry (either as engineers or as researchers, although I have heard that sometimes it’s a little more difficult to get a job that way, but it can be done) and I know a PhD in EE who works as a management consultant.</p>
<p>It sounds a little like you are considering an MBA because you are not sure that you want to be an academic and you don’t know what else to do. IMO, that’s not a good plan. You can make the two decisions independently of each other - first of all, do you really want to get the PhD? If you think you want to be a professor and researcher in your field, a PhD is a good thing to have because it’s required for those jobs. But if you’re not sure that’s what you want to do, or you want to explore other options first, there’s absolutely nothing wrong with taking your MS and working for a few years in the field. You may find a research-related position with an MS that suits you just fine; you may decide that you like working as a professional engineer; or you may take your education into another related field and never look back.</p>
<p>An MBA has the potential to pay more, but it depends on where you go and what you do with it. If you go to Dartmouth or Wharton and get an MBA, you have a good chance of landing a job at a top firm and making $150,000+ right out of school. If you go to…I don’t know…some local regional university and earn an MBA, then your starting salary may not be that much higher than what you could’ve made with your MS in engineering (in fact, it probably won’t be).</p>
<p>If you can’t decide, don’t do either. But at the very least, don’t waste money on an MBA (which is very expensive) unless you’re sure that you really want one because you want to do X career that requires an MBA. At least if you start the PhD program in the fall, you will be spending no money - you’ll actually be making money (even though you lose the opportunity cost, which is what you could’ve made if you went to work as an engineer, so it’s up to you whether the opportunity is worth it). If you decided to leave after year 1 or 2, you wouldn’t be in debt.</p>
<p>I usually tell students with any uncertainties not to go to a PhD program at all. But in your case, you were excited enough to apply and good enough to get an offer of admission, with funding, to a place that you like. You seem to like the tasks involved with being a researcher and you have a good plan. I don’t see a reason not to go for one year and see where you’re at. It’s okay to be a little unsure that you want to be an academic, as long as you keep your eyes wide open and vow to yourself that you’ll leave at the end of year 1 if you’re unhappy.</p>
<p>My understanding is that a good MBA program won’t admit you without work experience, usually showing a managerial level of responsibility. Good programs depend on the input and participation of the cohort, and it is often said that the networking is invaluable, so you are expected to bring something to the table as well. Lesser MBA programs may not care as much. Sometimes it is just a box to be checked for a promotion. Paying for a lesser MBA may or may not be worth it unless you are holding a job where the next promotion depends on it and the company is not picky. But getting hired as an MBA who has no business experience is tricky. It might be a bit different with the hard skills of a MSEE, but for most people they are pretty useless. There is no salary for an MBA, there is just a salary for holding various positions, which may or may not require an MBA.</p>
<p>I have a relative who attended Princeton for BS EE, minor in finance I think. He went to work for a technology firm as a management trainee doing something like a two year rotation where he ended up in a consulting position. I know he traveled the world meeting with clients and visiting overseas offices. He seemed to get a bump in responsibilities every 18 mos. He was brought to HQ and given a management position over a business unit. Simultaneously the company paid for his top MBA program, where you fly in every 2 weeks. He was the youngest person ever admitted to the program.</p>
<p>So if you are interested in getting an MBA, it is usually because it is the next logical step in a career. I think they like people with hard skills who didn’t used to be traditional applicants to such programs. But you need some work experience to be an attractive candidate and to see if this is the type of work that you want to do. I think a PhD can also be a manager of a lab or of a team developing a product</p>
Actually, most MBA programs (even elite ones) will admit a certain number of people with zero experience, and what they are looking for in the rest is that they are on a “management track” even if they are not actually in a management job yet. Remember that the MBA is not entirely about management.</p>
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What you are describing is an “Executive MBA”, which is a specialized part-time program intended for people who are indeed already in management positions that they do not want to or cannot leave. Such programs are not the kind of thing most people can just apply to with an expectation of entry, they are looking for people who are already established and respected in business or industry. It is indeed a big deal for your relative to have been sent there, but it is not useful to the OP.</p>
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Absolutely. The MBA has high costs and questionable outcomes, so you need to enter such a program with a clear idea of what you want to do with it.</p>
<p>Sure, but by “certain number” you mean “very small number” - probably less than 5% of the overall class. And then, you need to be quite the extraordinary undergraduate - they usually have extensive internship experience and lots of student leadership on campus. Some programs are more amenable to this than others - Stanford encourages undergrads to apply, and Harvard has the 2+2 program. I know a young man who got into the 2+2 program at Harvard, and he served in the National Guard throughout his 4 years of college (including duty assignments abroad during his summers and breaks) and was a very, very active student leader at our elite university.</p>