What are the advantages and disadvantages of earning an MBA with these degrees?

Question

I am pursuing a B.S. in Marketing and a B.A. in Mass Communications, I would like to know a bit more insight on these two scenarios. I get a B.A. in Mass Communication then go for an MBA or I get a B.S. in Marketing and a B.A. in Mass Communications then get an MBA. What are the advantages and disadvantages of both? And, of course, what jobs would I be most logically qualified for. Big points for an in depth answer!

I forgot to mention that I am 28, I have about twelve years of work experience, I am getting these two degrees on a full ride to a top 25 undergrad business school. I will have about 10k in student loans after all is said and done.

Answer 1

The amount of money you make is independent of the undergraduate degree you get and completely dependent on the quality of the school where you get your MBA.

You can expect a six figure salary if you get an MBA at a top 15 school. You can expect a nice bump in salary if you go to a ranked school not in the top 15. You can't expect much in the way of improved salary if you get an MBA froma school that is not ranked.

The top schools want you to have three to five years of work experience before you get your MBA -- so you have plenty of time to decide what you want to do before that.

Answer 2

Well, think about what it's going to cost you to do that and then realize that the jobs are mostly being outsourced and you might not have one. Think about what it's going to cost you to pay back your student loans and how long it will take to pay those loans back. That would be the "opportunity cost" of getting an education. Then compare that with the salary for MBA, BA and even PhD. Figure out the interest costs on the student loans and the costs to get that piece of paper. Then figure out how many hours you would have to work to pay that money back. How many hours would you be required to work, travel, etc. and think about those costs as well. Do you want to have a "life outside of work"? If you do, then you really need to look very hard at the costs of the education and figure out whether or not you'd be better off just getting out of school and studying on your own. Take a job that has little or no responsibilities (in other words, don't take your work home with you) so that you can enjoy your wife and kids and go to a movie or have a picnic without feeling guilty about leaving work behind. Get down to basics and think about what you want out of life? Money, things, or time and money to enjoy them? Do you want to start your "new life" after MBA or BA or BS being $60,000 in debt with $500 per month in payments plus interest or do you want to work for $10.00 per hour and have time to study on your own and experiment with hands-on training?