Friday, August 3

More about my new plans...

Million Dollar Journey asked yesterday what I plan to do after my MBA, and I realized that I haven't really put very much context around this decision so it must seem a little bit random. So here's a bit more background....

I have been working in a computer related field for the past 8 years, and frankly I am feeling very burnt out by the low-level detail-oriented nature of this work. It is also very stressful because clients don't notice all the good things that are working as quickly as they notice even one thing that is not, so the ringing of my phone is not a happy sound. Putting these things together, I decided that I wanted to shift my career to a higher level, escape the evil world of details, and leave computers behind.

After much thought, I concluded that I am quite good at working with management types to explore options and determine strategies, and this is something that will clearly satisfy my objectives. So I am heading to MBA school to become a management consultant in the area of strategy. Believe it or not, this is actually a genuine career. I hope to continue as an independent consultant, although I may work for a couple years for a large consulting firm after graduation if needed to get some good experience and pay off my MBA.

The good news is that my financial position allows me some flexibility to go back to school full time. The bad news is that MBA's are very, very expensive so it kind of feels like I am cannibalizing my finances. But I have realized that a full retirement would leave me floundering a bit, so if I'm going to keep working then I need something new to do.

And that's the story in a nutshell. I don't know where I'm going to school yet - I'm actually going to visit a couple of MBA fairs in September to try to narrow down where I might apply. And there are many other details to address over the next year. But I have set my general course, and now I feel much more invigorated and enthusiastic in knowing that I am moving forward in a positive new direction!

8 comments:

no more spending said...

Good luck with your plans. You are an inspiration.

Anonymous said...

I don't mean to rain on your parade but I'd advise you against the going back to school idea. I've been there done that and it worked out badly. You have a great career now and an excellent financial position. Sure the grass always looks greener on the other side and careers like spouses can get boring with familiarity. Don't expect life to be perfect. Looks to me like you have a great deal to be thankful for where you are now and based on my experience your plans could just take you backwards, a great deal!

All the best!

Promod said...

Einstein said that education is what remains after you've forgotten everything you learned at school. I take that to mean that the purpose of school is to teach you to learn on your own.

In The Trouble With MBAs (Fortune, April 2007), Jack Welch tells business students at MIT that they only needed to learn networking --- the rest could be learned on the job.

I seriously considered a 2-year executive MBA (even wrote the GMAT). At the time (latter 1990s), the cost was $26K/yr, a commitment of 20-30 hours per week, one day off-work each week. A major commitment of time and savings.

I knew how to learn and was ambivalent about adding another designation. I was fortunate to have a mentor and wide scope in my job. I concluded that I'd be better off building on what I already was. That was a great decision for me.

Qcash said...

MD

If you are serious about the MBA (and I am not all that convinced you need it), why not do it part time and keep your business going?

Q

GoldnSilver said...

I just got my MBA.
Jack Welch is 80% right. A big part of it is networking. However, being reasonably competent with technical knowledge is important, too.

I personally feel what I learned during my MBA program was very valuable. If I had to do it again, I would.

That being said, I did it part time. My co. has tuition reimbursement.

krystalatwork said...

Good luck with the MBA! That's a very ambitious goal you have, and I look forward to reading about your progress.

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