<p>Is it safer to apply to a strong regional MBA program versus the well known, but incredibly difficult to get into, national MBA programs? I am mainly asking for Rollins College, which has a unique five year B.A./M.B.A program and seems to be rising in rankings each year to a pretty well known regional program.</p>
<p>I was actually admitted to a few regional (less prestigous) MBA programs but opted to not attend because I didnt want to "waste" my shot. You only have one chance at an MBA (i.e. you cant have two) so why not get one from a reputable school. From what I have noticed in the business world, MBA's from less prestigous schools are treated only a touch better than those with bachelors degrees. If you are going to spend time and money getting an MBA, you should get a good one. Also, if you want to move out of the area you can always take your "pedigree" with you.</p>
<p>In my case, I only applied to these schools because they did not require work experience and I had just graduated.</p>
<p>The only reason to attend a regional school is if you don't intend on leaving the region. If you want to move to a big city, an MBA from a lesser known school might not be worth the time and money you put in to the degree. </p>
<p>Just get your bachelor's degree, work for a few years, then go back for the MBA at a brand name school.</p>
<p>Just my $0.02.</p>
<p>Well, actually, a person can legitimately have 2 MBA's. Admittedly, it's rare. But it does happen. For example, consider the Berkeley/Columbia executive dual-MBA program, which grants you 2 (that's right, 2) MBA's upon graduation - one from Berkeley-Haas, the other from Columbia. I think the point of granting you one degree from each is that it gives you entree to alumni networks from both schools. </p>
<p>Furthermore, many executive MBA programs, even at the elite schools, will consider you for admission even if you hold a 'regular' MBA. For example, consider this quote from the Wharton Executive-MBA FAQ.</p>
<p>"Q2: I already have an MBA. Can I apply to Wharton?
A2: Yes, you can apply. We do not exclude candidates who have an MBA or any other graduate degree. You should, however, explain your reasons for desiring a second MBA in your application and during your interview."</p>
<p>I realize that we weren't strictly talking about EMBA programs, but I think it is important to bear in mind that it is an available option. By completing an EMBA, you do, technically speaking, get the same diploma as regular MBA's do. Granted, the education and socialization/networking aspects are totally different, because EMBA's are drawn from a different crowd. I would actually argue that the networking might actually be better in the EMBA programs than in the regular MBA programs because EMBA students tend to be significantly older and more experienced, and therefore more valuable as contacts. It does, however, depend on what you are comfortable with. If you are young (~in your mid 20's), you may not feel entirely comfortable hanging around with a group of people whose average age is in the mid 30's or more.</p>
<p>Sakky, I already knew of the Cal/Columbia MBA. I have also read that Wharton link you were referring to. Further, I know a very small percentage of PhD's have received their MBA's after getting their graduate degree. I'm sure there are a few other exceptions I am not thinking of right now as well (e.g. numerous JD/MBA programs). I really dont see much pragmatic about getting a second MBA though. Sure there may be some advantatges but generally there will probably not be many. In fact, the VAST majority of MBA's only have one. So, when I answered that guys question, I was speaking in general terms. In general it is neither common nor practical to get a second MBA.</p>
<p>BTW, I do think that Cal/Columbia MBA is pretty darn cool.</p>
<p>Well, like I said, the real value of getting multiple MBA's is getting access to multiple alumni networks. Much of the value of the MBA has to do with access to alumni. So if you have entree to more than one network, hey, more power to you. I personally wouldn't mind holding MBA's from each of the 'group of seven' -meaning HBS, Wharton, Stanford, Kellogg, MIT-Sloan, Chicago, and Columbia. </p>
<p>I also don't find it particularly unusual for PhD's to get their MBA's, or for anybody else who holds graduate degrees in other fields to then get their MBA's. I know plenty of such people. The PhD is an academic research degree, and the JD is (obvioulsy) a law degree. The MBA has to do with business and networking and such. These degrees fulfill entirely different needs. </p>
<p>My take on it is that while I agree with you that in general, there may not be a whole lot of practical advantage of getting multiple MBA's, hey, if you can get somebody else to pay for it, whether through scholarship or through sponsorship, then why not? Lots of EMBA students are fully sponsored by their companies. If I already have an MBA, even an elite one, and my employer offered to sponsor me to get another MBA from Wharton or Kellogg or wherever, I certainly wouldn't turn it down.</p>
<p>sakky, thats cool. I have no problem with that. Unfortunately though, degrees require time, money, and foregone income. It is one thing to say that you would like to have 7 different MBA's but it is a whole other thing to actually get them. We are talking a minimum of 12 years of additonal school work here (assuming you already have one MBA). $40,000 *12 = $480,000. Now take into consideration all the money you are losing by not working during that time and even you must admit that there is going to be a negative return on your investment. I think in general you reach a point of diminishing marginal returns after your first MBA. Face it, most MBA's have only one for a reason.</p>
<p>Btw, I am aware that you never said you would actually attempt getting these degrees. I was just making a point on what you already agreed on, i.e. the practical issues involved.</p>
<p>Who says you won't necessarily be working while getting the MBA? Lots of these EMBA and MBA programs are part-time. The Wharton EMBA program is intended for working people. So is the Kellogg one. So is the one at Chicago. So is one of the EMBA options at Columbia (Columbia actually has several EMBA options, with varying amenability towards maintaining a job). </p>
<p>Furthermore, it's not even a matter of expense out of your pocket, because often times as far as the EMBA goes, you're not paying. Many EMBA programs actually require that you be sponsored, and the ones that don't strongly favor it. </p>
<p>I do concede time is an issue. But I think it would be something worth investing your time in. So let me rephrase - if I already held an MBA from Stanford, MIT-Sloan, or Harvard (the 3 of the group of 7 that don't run a part-time MBA program) and my employer offered to sponsor me to do the part-time MBA/EMBA programs at Wharton, Kellogg, Chicago, or Chicago, or heck, at all 4, you're darn right I'd take it. Why not? I'm not paying, and I'm keeping my job, so I'm not losing income either.</p>
<p>I know what you said sakky. I sounded like I was disagreeing with you but I really was not. So now I'll play along with your hypothetical scenario and will still come to the same conclusion. I dont have to tell you that it is only my opinion because I know you are capable of telling the difference. Anyway, school is a pain in the a**. It is not all fun and games. It requires hard work and dedication. Since you will likely be covering similar material over and over again, I know that the real "thinking" part should go away after the second MBA or so. Still, it will take time. Now we are talking about a limited social life for an additional 21 years (Assuming an average of 3.5 years per program). That would make you approximately 51 years old by the time you are done. Here is how I see the inequality.</p>
<p>Utility from attending different schools + Utility from increase in financial returns (a relatively small number) + Utility of bragging rights > Disutility from opportunity cost of time + disutility from additional school work (a relatively small number). </p>
<p>I may have forgotten some things but I believe I have captured the main points I am trying to make. I think for most people this inequality will not hold. My point is that even though having many different degrees sound good, achieving that goal has many implicit costs that would lessen its worth it to most people.</p>
<p>Yes, I'm aware of what you're talking about. It is obviously true that the marginal utility of degrees goes down as you get more of them.</p>
<p>But I would just point out here that we're not talking about real school. This is B-school. B-school is not real school, because grades are really not very important in B-school, and especially unimportant if you already have one MBA. In B-school, basically, everybody is going to graduate, nobody is going to flunk out, and in particular, if you already have one MBA, then you really shouldn't care about your grades for any later MBA's. </p>
<p>I would also dispute the idea of losing some social life. I would argue that B-school is social-life. Again, remember, we're not talking about a 'real school' here , in the sense that academics are the driving force the way they are in most graduate-programs. This is B-school we're talking about here. B-school is, for many people, little more than socialization and networking, with a few classes thrown on top. A lot of people who are getting their first MBA have already engaged in the strategy that they don't really care about classes, they're really there to socialize. And if you already have an MBA, then you really shouldn't care about classes, you should be happy to throw yourself full-force into the socialization aspect. Again, remember, this is B-school we're talking about. </p>
<p>Nevertheless I obviously agree with you that the value of more and more MBA's clearly goes down. However, I would contend that if somebody were to pay for me to attend a part-time MBA program, especially an elite part-time MBA program, I would go even if I already held an MBA. I would go if, for nothing else, for the opportunity to expand my network and the access to another alumni association.</p>
<p>I probably would not get another one.</p>