meggie Posted June 3, 2011 Share Posted June 3, 2011 (edited) In light of some of the other threads going on, I feel really bad posting this. If you think I am being too selfish, please say so (though in a nice way:001_smile:). I'll try to keep this short: DH's job pays $12.50 an hour (I say this because by US standards, it's not much. But everytime I look around at our apartment and see what we can afford, I feel so well off compared to those living in third world countries. The fact that we are well blessed is not lost on me). Compared to nothing, it's a lot. He was unemployed for 18 months before he got this job. For the past 6 months we've been feeling rich because we could pay for rent and food and utilities and not have to stress too much. But he keeps getting in trouble at work for doing his job well (customer service/tech support). The company is really stupid. I'll save the hows and whys, but they are really stupid. He's considering going back to school to get an MBA. We'd apply for every scholarship, assistantship, and fellowship we could. I would work overnight at McDonald's or do childcare in my home. Obviously we'll be praying about it. But the hard part is the amount of debt we'll be taking on. There's a program in the next town up that he could do, but there's one two hours north of here (we'd have to move) where the cost of living is so much cheaper, it might help to lessen the load. And it seems like the further away one has more scholarships, assistantships, and fellowship opportunities. The only problem is that it seems to be a smaller town, with less work available in the community for me to find something that would work. *sigh* I'm just so conflicted, I don't know what is best. What would you do? Edited June 3, 2011 by meggie Quote Link to comment Share on other sites More sharing options...
wulfbourne Posted June 3, 2011 Share Posted June 3, 2011 What degree does he have now? What would he want to do with his MBA? I'd lean more towards going back for either a short medical program (X-ray tech or surgical tech are only 2 years I believe) or a certificate program in an employable field (paralegal, HR, etc) Those are fields I've seen more jobs in that pay 50K+. Quote Link to comment Share on other sites More sharing options...
Giraffe Posted June 3, 2011 Share Posted June 3, 2011 DH is going back to school this fall. We're fighting for every scholarship we can manage but I will probably go back to work in the fall (and have DD in full day preschool) to make ends meet. I think more education is a good thing if you know what you'll do with it. DH has a plan and it's a good one, IMO. If your DH has a plan as to what he'll do with the degree and it seems viable, then go for it. Quote Link to comment Share on other sites More sharing options...
meggie Posted June 3, 2011 Author Share Posted June 3, 2011 What degree does he have now? What would he want to do with his MBA? I'd lean more towards going back for either a short medical program (X-ray tech or surgical tech are only 2 years I believe) or a certificate program in an employable field (paralegal, HR, etc) Those are fields I've seen more jobs in that pay 50K+. Oh right, sorry. Sometimes I talk too much I lose my train of thought. His degree is in film. Absolutely useless. He wants the MBA so he can know more about setting up his own production company and hopefully make it more successful. If needed, we're hoping the MBA would give us a better paying job so we could save enough money to start that company. I'm very good at being frugal. Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted June 3, 2011 Share Posted June 3, 2011 Oh right, sorry. Sometimes I talk too much I lose my train of thought. His degree is in film. Absolutely useless. He wants the MBA so he can know more about setting up his own production company and hopefully make it more successful. If needed, we're hoping the MBA would give us a better paying job so we could save enough money to start that company. I'm very good at being frugal. This is not what an MBA would accomplish. An MBA is for people who want to get ahead in corporate America. Go to your local Small Business Administration, they offer tons of *free* classes on how to start and run your own business. http://www.sba.gov/about-offices-content/2/3154 Quote Link to comment Share on other sites More sharing options...
meggie Posted June 3, 2011 Author Share Posted June 3, 2011 This is not what an MBA would accomplish. An MBA is for people who want to get ahead in corporate America. Go to your local Small Business Administration, they offer tons of *free* classes on how to start and run your own business. http://www.sba.gov/about-offices-content/2/3154 This is exactly my thought. Go to one of these quick training/trade schools. Usually it involves an internship (sometimes paid) and this gets you a foot in the door to a company that may hire you. Either way you have a specific skill that gets you a job. MBA is kind of vague. A lot of people go for an MBA who are already working in a business field and want to get promoted or be more marketable in that field. Thank you, thank you!!! Quote Link to comment Share on other sites More sharing options...
wulfbourne Posted June 3, 2011 Share Posted June 3, 2011 This is not what an MBA would accomplish. An MBA is for people who want to get ahead in corporate America. Go to your local Small Business Administration, they offer tons of *free* classes on how to start and run your own business. http://www.sba.gov/about-offices-content/2/3154 Exactly. MBA's groom CEO's, not entrepreneurs for the most part. Have him look for a couple classes in starting and running a small business at your local community college. Some are for credit, some have non-credit ones for adult learners. Quote Link to comment Share on other sites More sharing options...
MindyD Posted June 3, 2011 Share Posted June 3, 2011 It depends on what your dh wants to do after he earns his degree. I can tell you from experience that your dh going back to school will be hard on all of you. Any free time he has now will be taken up with studying and homework. My husband finished his MBA last August and graduated in December. His program was 2 years and even though some of it was covered with a GI Bill, we still had to take on more debt. He did get a new job as soon as he graduated but it was actually for his experience, not his new degree. That said, the degree will help him move up and in different directions from where he's at. The people in my dh's class that already had business type jobs were helped with the degree, but those that were out of work or not necessarily in the area they wanted to go to weren't finding a lot of openings. IMO, you and your dh need to really think through why he wants the degree and what job he expects to get with this degree. Maybe talk to someone doing what he wants to do and see what they think. Right now experience seems to be a big selling point for employers. Quote Link to comment Share on other sites More sharing options...
Twigs Posted June 3, 2011 Share Posted June 3, 2011 quick training/trade schools a short medical program (X-ray tech or surgical tech are only 2 years I believe) or a certificate program in an employable field (paralegal, HR, etc) :iagree: I've also heard that fields like plumbing, etc. have large job opportunities since so many people want jobs that require a college education and no one wants to go into the plumbing type fields. E.v.e.r.y.o.n.e wants their plumbing / electricity / etc. to work! Quote Link to comment Share on other sites More sharing options...
MindyD Posted June 3, 2011 Share Posted June 3, 2011 You answered my questions while I was writing the first post! It sounds like he'd be better taking some business classes than going for the full MBA. My dh also has a completely useless degree (as do I since we have the same degree!) Quote Link to comment Share on other sites More sharing options...
Mama Geek Posted June 3, 2011 Share Posted June 3, 2011 A BS or a BA in Business might be more helpful. Getting exposure to accounting, public relations, advertising, finance and so forth would be good. I have known several people in different fields that have been successful running their own businesses. They got their foundation this way. Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted June 3, 2011 Share Posted June 3, 2011 Exactly. MBA's groom CEO's, not entrepreneurs for the most part. Have him look for a couple classes in starting and running a small business at your local community college. Some are for credit, some have non-credit ones for adult learners. This is a good point too. My local community college offers some *very* affordable (as in $50 for 4 weeks) non-credit classes for this purpose. Quote Link to comment Share on other sites More sharing options...
learningmama Posted June 3, 2011 Share Posted June 3, 2011 Bachelors in Business would be good or a skills-based career. MBA is used to go up the career ladder, but is only really helpful if the person has a "go get em" attitude. I know a couple of people with MBA's that already had jobs in engineering and marketing while going to night school for their MBA's. They though the MBA was the quick way to a great job and top money. One person received a small raise after completing the degree, the other has had two failed jobs since the completion. Both are fairly passive and quite honestly not into managing other people. Will be the MBA's pay off in the end? Hopefully over their lifetime, but they thought it would be a quick fix. On the other hand, I know someone else who has worked in accounting for almost 10 years and has always had a job that involved lots of international travel. This person is also going for a MBA and I believe it will do the person well since the individual has a very strong corporate ladder mindset, even setting work before family. Choosing any degree path right now is very difficult because of the economy. I have learned though that a business degree paired with good work experience helps alot. Other degrees such as engineering and nursing still have good prospects too, I believe. Quote Link to comment Share on other sites More sharing options...
NoPlaceLikeHome Posted June 3, 2011 Share Posted June 3, 2011 What degree does he have now? What would he want to do with his MBA? I'd lean more towards going back for either a short medical program (X-ray tech or surgical tech are only 2 years I believe) or a certificate program in an employable field (paralegal, HR, etc) Those are fields I've seen more jobs in that pay 50K+. I would carefully research any field before choosing to make sure that their are actually jobs for that field of study. Lots of schools push areas of study knowing that there are not many jobs in said field:( Quote Link to comment Share on other sites More sharing options...
wulfbourne Posted June 3, 2011 Share Posted June 3, 2011 I would carefully research any field before choosing to make sure that their are actually jobs for that field of study. Lots of schools push areas of study knowing that there are not many jobs in said field:( Very true as well, though OP's husband wants to run his own business, so I'm not sure if it applies as much. The suggestions I threw up are based on openings and salaries I've seen in my area as well as what the BLS says is growing greater than average. According to a NYT article about recent college grads, those who have had the most success finding careers in their field of study have been teachers and engineers (if memory serves). Quote Link to comment Share on other sites More sharing options...
shinyhappypeople Posted June 3, 2011 Share Posted June 3, 2011 I second the suggestion of getting a BS in Business. My husband is starting at Western Governor's University in July (knock on wood). It's fully accredited (regionally and nationally), self-paced, competency-based and fairly inexpensive. They participate in federal student aid programs, including Pell Grant. My DH earns a bit more than yours and he qualified for the full Pell Grant, which will cover everything except books/materials. We'll take out a very small student loan to cover books and we'll be set. :) Just another thing to consider. :) Quote Link to comment Share on other sites More sharing options...
ChristineW Posted June 3, 2011 Share Posted June 3, 2011 :iagree: I've also heard that fields like plumbing, etc. have large job opportunities since so many people want jobs that require a college education and no one wants to go into the plumbing type fields. E.v.e.r.y.o.n.e wants their plumbing / electricity / etc. to work! Plumbing and x-ray tech won't help them start up a production company. Paralegal won't help either, and law firms are starting to outsource much of that work to India. Some MBA programs have great entrepreneurship programs, for example UCLA and Stanford, I'd compare the course listings at both schools, and see which fits in with the plan more. I think that MBAs are similar to law degrees--the reputation of the school does matter in what you will be able to do when you graduate. Christine Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted June 3, 2011 Share Posted June 3, 2011 Some MBA programs have great entrepreneurship programs, for example UCLA and Stanford, I'd compare the course listings at both schools, and see which fits in with the plan more. I think that MBAs are similar to law degrees--the reputation of the school does matter in what you will be able to do when you graduate. They are in Utah with kids making $12.50/hour. You think they can afford to move and for the hubby to go to UCLA or Stanford? Maybe he will never make big-budget films without that sort of a background, but he can get some business skills for a low cost and start a production company that does local stuff in their free time and build from there. Quote Link to comment Share on other sites More sharing options...
Sputterduck Posted June 3, 2011 Share Posted June 3, 2011 Well, FWIW, my ex-husband was told at an interview by a man who's started successful computer companies that the best thing he could do with his life is get an MBA. I'm going to be getting mine. It certainly won't hurt having one, but I'd try to find a way to get it without all the debt. I won't have any debt from mine, but I'm staunchly debt free in my life. Quote Link to comment Share on other sites More sharing options...
meggie Posted June 3, 2011 Author Share Posted June 3, 2011 ok, very happy that I get to tell him we don't have to get an MBA (thanks everyone for saving us thousands and thousands). But he can't go back to BYU to get a bachelor's in business:glare:. There is a city college here that can do an associate and a university the next town over that can do either an associate or a bachelor's. Not sure how many credits would transfer for that though. Oh well, it gives us plenty to think about. Quote Link to comment Share on other sites More sharing options...
Twigs Posted June 3, 2011 Share Posted June 3, 2011 Plumbing and x-ray tech won't help them start up a production company. True, but the pay is better than 12.50 which will help with keeping the debt under control and give some job security until the production company starts to make money. Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted June 3, 2011 Share Posted June 3, 2011 True, but the pay is better than 12.50 which will help with keeping the debt under control and give some job security until the production company starts to make money. I will agree that the post (although not explicit in this) did seem to be two-fold: how can my dh get a better paying job and he'd eventually like to have his own production company, how do we do that? Quote Link to comment Share on other sites More sharing options...
meggie Posted June 3, 2011 Author Share Posted June 3, 2011 Eep! I missed stuff while posting. My responses in red. Plumbing and x-ray tech won't help them start up a production company. Paralegal won't help either, and law firms are starting to outsource much of that work to India. He probably wouldn't be opposed to plumbing or xray tech. I say probably because we've never actually had this conversation before but he's worked hard physical labor most of his life without complaint. He's not above doing what he needs to to provide for the family. He just doesn't know much about either right now. If that's what we'd have to do to make money and save it, we could. But it terms of the big picture, you are right, it won't help with the production company. Some MBA programs have great entrepreneurship programs, for example UCLA and Stanford, I'd compare the course listings at both schools, and see which fits in with the plan more. I think that MBAs are similar to law degrees--the reputation of the school does matter in what you will be able to do when you graduate. Christine They are in Utah with kids making $12.50/hour. You think they can afford to move and for the hubby to go to UCLA or Stanford? Oh you are right, that definitely won't be happening :svengo: Maybe he will never make big-budget films without that sort of a background, but he can get some business skills for a low cost and start a production company that does local stuff in their free time and build from there. Thank you, yes, you are so much better with words than I am. This is exactly what we would like to have happen. He does not want to make big budget movies. We ran into a problem before when he and some others tried to start up a company, but one of the partners kept trying to take the script and raise the budget. No one was going to give them $10+ million when they had no track record. True, but the pay is better than 12.50 which will help with keeping the debt under control and give some job security until the production company starts to make money. This is true and definitely something we will consider. I am almost positive he'd rather be a plumber than the job he has now. He hates desk jobs, he likes to be active. :confused: Who knew? I will agree that the post (although not explicit in this) did seem to be two-fold: how can my dh get a better paying job and he'd eventually like to have his own production company, how do we do that? This is exactly what I was thinking, but didn't know how to say. Thank you, you are amazing. And I hope I am not reading tension in this. I hope it's just in my mind :crying: but please no tension on account of me. Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted June 3, 2011 Share Posted June 3, 2011 And I hope I am not reading tension in this. I hope it's just in my mind :crying: but please no tension on account of me. No tension, I just think people read things differently. I read it one way at first, but as other people answered I could see what they were seeing. :) I hope you guys get the information you need to make a change. :grouphug: Quote Link to comment Share on other sites More sharing options...
G5052 Posted June 3, 2011 Share Posted June 3, 2011 (edited) If his goal is to start his own business, you can take low-cost classes to explore his options through a local small business office. I work for various people as an independent contractor and run it through my business for the write-offs, and classes I took through a small business office gave me plenty of background to get started. Then if there is a community college nearby with a good reputation, you might look into business classes there. The one that I work for has a solid business start-up program that some students have used to get a full BBA at a local 4-year college with transfer agreements. Not saying that it is like that where you are, but the MBA programs in my area are looking for people with professional-level job experience and they're very competitive from what I've been told. You have to be already fleeting up and then the MBA is icing on the cake. FWIW -- Upfront planning will save a huge amount of effort, time, and money. I'm so glad that I took the trouble to write a business plan at the beginning because I was able to phase in easily at a low level and then ramp up without making too many mistakes. We have a relative who just went out on their own, and they're killing themselves marketing with very few leads and are considering contracting back to their original employer because the $$$ just isn't coming in. Edited June 3, 2011 by GVA Quote Link to comment Share on other sites More sharing options...
In The Great White North Posted June 3, 2011 Share Posted June 3, 2011 Maybe he will never make big-budget films without that sort of a background, but he can get some business skills for a low cost and start a production company that does local stuff in their free time and build from there. Thank you, yes, you are so much better with words than I am. This is exactly what we would like to have happen. He does not want to make big budget movies. We ran into a problem before when he and some others tried to start up a company, but one of the partners kept trying to take the script and raise the budget. No one was going to give them $10+ million when they had no track record. Has he considered starting to free-lance making ads for the local cable station? Quote Link to comment Share on other sites More sharing options...
meggie Posted June 3, 2011 Author Share Posted June 3, 2011 Has he considered starting to free-lance making ads for the local cable station? Yes he has, but we'd need a camera. I have an aunt in the advertising industry in D.C. and she strongly recommended against getting into advertising as it's such a cutthroat industry with people taking unpaid internships just to get in the door. It's still something we're considering, but thinking we need to do more research on. We've also considered doing wedding videos on the side (we're in Utah, tons of weddings here). We've considered getting a super small business loan (we're Dave Ramsey listeners, we don't like debt) to get some equipment. Quote Link to comment Share on other sites More sharing options...
ThatCyndiGirl Posted June 3, 2011 Share Posted June 3, 2011 It depends on too many factors. You have had some good advice here. The only other thing I would add is to avoid places like University of Phoenix as they do not have a good reputation. Quote Link to comment Share on other sites More sharing options...
Trish Posted June 3, 2011 Share Posted June 3, 2011 I don't know what the stats say at the moment, I'm strictly offering an anecdote. My niece graduated from a good state school with a 4.0 three years ago. She had her heart set on a faily prestigious MBA school which cost big bucks. She did extremely well in her coursework there, had a local internship in her second year. They loved her at that job, offered her a job upon graduation. It was for no more pay than while she was an intern. (i want to say $10-$12 an hour) They were a financial firm. They were apologetic about it, but they were laying off staff due to the bad economy, so she was lucky to be offered anything at all. That was last June. For the past year she has been job-hunting. Interviews have been few and far between, but she's been diligent about pursuing Anything and Everything. Right now she's working part-time for a non-profit. Obviously not much pay, but something to put on a resume while she continues looking. Meanwhile, there are loans to pay... Personally I think it's a bad time to take on debt. But I realize you have your own factors to take into consideration. Good luck either way! Quote Link to comment Share on other sites More sharing options...
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