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I have a BS in Mech Eng and a MBA in Operations Management. My career path has taken the following steps: Mfg Eng, Design Eng, Svc Management, Sales and Bus Mgmt, now in Bus. Development/Marketing. I'm struggling to break through to the next level. In my company, and industry, this is a General Manager position.

I know that a firm grasp of financial accounting is a common trait to virtually all of the executives in my company and larger US Corporations. I sense this has as much to do with experience as training. However, I'm thinking a 2nd MBA in finance (at the company's expense) might be a difference maker in terms of short term prospects and long term benefits.

Does anyone have any experience with that combination? Is it worth it? I know its a company expense but its still my time.

Other options?

raulcasta's picture

All I can comment on this, my friend, is that there is no free lunch.  I cherrish the idea of learning and obtaining a new title.  I'm not so comfortable with the fact that this might not be as effective as it appears.

Sorry, I have no experience with this combination.  Not sure it's worth it based on the above.

cheers,

Raúl

raulcasta's picture

All I can comment on this, my friend, is that there is no free lunch.  I cherrish the idea of learning and obtaining a new title.  I'm not so comfortable with the fact that this might not be as effective as it appears.

Sorry, I have no experience with this combination.  Not sure it's worth it based on the above.

cheers,

Raúl

ManagerDave's picture

A second MBA seems like overkill. Won't there be a lot of overlap between the two degrees? Why can't you just take courses such as financial accounting to address your perceived weakness?

Also, you indirectly attributed "struggling to break through" to your lack of financial accounting knowledge. What made you arrive at this conclusion? I would be sure about that before investing the time.

Jazzman's picture

I agree with Dave. 

How will another MBA add to your effectiveness and capability?  Would training specifically on finance provide what you're looking for?  At the school I went to the difference between any concentration (e.g., Finance, Ops. Mgmt.) was 3 electives.  The other 19 or so courses were exactly the same.

Also, not that I have great experience evaluating resumes of MBAs, but I've never even heard of someone with two MBAs on their resume...it may not be looked at favorably.

If the money from the company can only be used towards a degree program, look for an alternative...or save the company some money and you some time.

-Jazz

maxsaint's picture

Hi,

I am currently doing my 2nd MBA. Personally, I think one should never stop learning. My first one was 10 years ago. No I have decided to do it in a more prestigious school (top 10 in the world). I see so far two benefits:
 1. Networking
 2. Extra specialisation

First, all the students I meet are already on high positions or going towards it. You can see the latter during the work on assignments we do together. I need to say that the part-timers are better though. A draw-back may be that most of them are really younger than me - average 26-29 years old. An executive MBA may be a good option to look at.

Second, I think the top schools have really serious programs and can not be compared with single courses. My first year took 4 financial and accounting courses, but again, the level will be different based on the school you chose. I have some background in it and they were still tough. I am not waving any courses because there is always something new to learn. The efforts you will need to put are huge.

Third, most of the people that plan a 2nd MBA want to switch industries or it is a requirement from their organization, which already promises a higher position after graduation. I would not do it if you are planning to stay but no one guarantees you the higher ranking. If going to a different industry, this is where the name of the school comes in play.

On the other hand, I do not think a 2nd MBA looks good on a resume. Does it mean that the 1st one was worthless? This is a question everyone will ask you, believe me.

Finally, just the specialization you have chosen may not help. People look at experience when hiring executives. It will depend on how early you are in your career. I know some alumni had to go on lower positions to get the experience in their new specialization. And networking always helped.

Please consider everything above as one more opinion. It is your choice. Talk to alumni from the school you want to evaluate. Maybe Master of Finance is sufficient.

davisjc's picture

Yes similar advice I've heard from friends and colleagues. Still not there on the decision as I'm doing more research (yes I'm a high C). To address a few comments, it appears that the 2nd degree can be achieved with a "minimum" effort when compared to the 1st. I wouldn't have to repeat classes. Online seems as a valid option, I'm not a fan of online, the networking comments hit home there, but as it is a 2nd I'm thinking this is less critical in my case.

As I dig further the real objective is to get the right people to realize that some are serious about there careers while others in my company are just "playing". It might work out that seeking the financial approval in itself my get the desired result without going all the way.

dony_22's picture

 It is impossible to calculate exactly the effects of bear bets made by the elite traders, but they were added to the influx of offers for sale of foreign currency, and investment advisors  thus pressed the European Union in order to stop the Greek debt crisis.

darrensy's picture

I guess it's worth and It doesn't a big lost if you have it... you earned it,, so it is your knowledge.

 

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AManagerTool's picture

I think you have enough degrees to "break through to the next level".  How are you on Achievments? Relationships?