Two Years After Completing My MBA

It has now been two full years to the day since I completed the MBA at Queen's. I find myself in the same apartment after a day at work three years after starting the MBA, two and a half years after the worst financial crisis in my memorable history and two years after completing the MBA. The economy is improving, slowly, and it is much stronger than when I graduated. The good news for me is that my chosen industry, oil and gas, is doing better than most. “A rising tide floats all ships,” as they say, and I feel like I have chosen the right tide indeed.

Right now I am working in Calgary, Alberta, Canada. However, I am not in the role I took originally. After six months in my previous position, as a Market Analyst with a manufacturer of tubular products for the oil and gas industry, I conducted a self review. I took stock of where I was at, where I was going, how I was fitting into the organization I had joined and where I would fit in the future. The tough truth was that it wasn't the right fit.

After taking time to figure out exactly where I wanted to go, I started talking to friends, colleagues and recruiters. In the end, a friend referred me to a position that I absolutely love.

I am currently an Exploitation Engineer with a large Canadian exploration and production company in their Acquisition and Divestment team. As a professional engineer with a background in reservoir engineering and evaluation engineering I have a solid understanding of the technical and economic aspects of oil and gas. With my MBA I am able to go through the financial and corporate materials of small companies we are assessing for acquisition opportunities. It is the perfect place for me to be since it satisfies my desire to learn more about the corporate finance side of the business without necessarily having to take on a banking role, while at the same time allowing me to maintain my professional engineering status I worked so hard to get in the first place.

In addition, this role is definitely helping me advance toward my long-term goal of assembling a skill set that will allow me to be a member of a senior leadership team within an oil and gas exploration and production company in the future. Also, this position came with a raise that has put me above my pre-MBA earning level. It took bit of time with the downturn, but everything is looking up now.

This past year has seen some of my MBA colleague move into new positions as they found their dream jobs. In addition, the last few people who were holding out for the perfect job were successful. With those changes, I would say that the majority of my class has been successful in pursuing the dreams they set out to achieve when they started the MBA.

The class has drifted significantly apart in the past year. I see the one classmate here in Calgary about once a month, but I only hear from my other classmates about every six months and then it is only a few select people who make the effort. This is completely understandable as people move forward with their lives. From what I have been able to tell it is the same even when there are a lot of them in the same city (i.e. Toronto).

I have been attending a few of the alumni events for the business school and for the MBA program. It is here that I stay in touch with the administration staff and meet past as well as new grads. Through the administration staff I am able to hear about what my other colleagues are up to and what is new with the program. Also, I am able to help with information sessions when the school comes to town to promote the program and the school. It is during these visits as well that I have been able to learn that the placement level of the current class has returned to pre-crash levels.

Overall, my decision to complete an MBA has been a good one. It is taking a little longer for my career to get moving again than I had anticipated, but that is to be expected with what happened in the economy. However, I can definitely see where the MBA is already helping me advance and where it will help me in the future.

Well, that sums it up for my two year entry.

Until next time,
Appleseed

One Year After Completing My MBA

It has now been one year to the day since I completed the MBA program at Queen's and I find myself sitting in my apartment enjoying the weekend re-charging for another week of work. Twelve months, gone. It is hard to believe so much time has passed. Even more strange is contemplating that almost exactly two years ago I was just starting the MBA program at Queen's. So, one year later, what has the MBA done for my career, would I do it again and where is the class? Hopefully I can answer these questions with this posting.

Right now, I find myself working back in downtown Calgary,Alberta, Canada. I'm in a role as a Market Analyst for a large multinational corporation that manufactures pipe and sells it to the oil and gas industry. The role I have been hired to fill uses both my engineering and industry experience as well as my MBA. The organization is very MBA "friendly" as there are people with MBAs throughout; even a few with the MBA/engineering combination I have. I did, however, have to take a slight pay cut from my pre-MBA salary, but that is to be expected with the economic downturn. In addition, it took me seven months to find this position. Also, I am working with my supervisors to expand my role as I am finding I could take on more responsibilities.

Overall, I am very happy with my decision to return to for an MBA. Although it took me seven months to find a position and I had to take a pay cut afterwards, I count myself lucky. I believe both of these can be attributed to the economic downturn, which I would have needed to navigate regardless since I couldn't have stayed in my pre-MBA position for much longer. I look at where I would have been if I had not returned for my MBA and I am very glad I did return to school. Without my MBA I would have had to try to find a different purely engineering position in an environment filled with more qualified people, with no additional skill set to offer and I would have had to take a pay cut since I would have been leaving the lucrative world of consulting. The MBA allowed me to leverage my previous experience and find a rewarding job with future growth potential with only a minor pay cut despite the economic downturn.

The summary, bullet point format, of where I am one year later:

• In an MBA role that uses my previous experience
• With a company that values both my MBA and previous experience
• With a company that has long term career growth potential
• Slight pay cut, but this can be attributed to the economic downturn
• Took seven months to find this job after graduation, but again this can be attributed to the economic downturn

As for the class, there are still a few people looking for jobs. However, it seems that the biggest barrier for these people is there limited work experience prior to completing the MBA and/or their commitment to staying focused on just one type/segment of work (e.g. only want to work for bio-tech start-up firms in a business role). As a whole, almost everyone has found employment. I'm sure the employment statistics are not pretty for my graduating year, but that holds true for MBA grads across the board.

The class has managed to say in touch somewhat, but some people have disappeared. My wife and I have returned to Toronto once for a classmates wedding reception, which was great since we got to see a lot the class. Also, there are a lot of weddings happening now that the program is complete. These are couples that were met while in the MBA as well as people who had been together prior to starting the MBA. Overall, a lot our classmates have lost touch as their post-MBA jobs and lives take up their time. However, since we all know each other so well, because it is a smaller program, there is never any hesitation to pick up the phone or drop someone an e-mail to say "hi" or to meet up if they are passing through town. I have met up with several of my colleagues as they pass through my town on business and I suspect I will continue to do so as the years go by.

Another interesting aspect of the post-MBA life is being invited to attend information sessions to answers questions from perspective MBA students. It is strange since I know I was once in their shoes. Also, it is a nice way to stay in touch with some of the faculty that travel to put these information sessions on. Furthermore, it has been interesting to become a member of the Queen's University and Queen's School of Business alumni community in my city.

That about covers my one year entry. If you, as a reader, have questions please feel free to write, but be aware that I don't check this e-mail as frequently as I once did. I may write a one and a half year or two year entry if the mood strikes me, but if not, this is likely my final post. It has been fun to write this blog and I hope others have enjoyed reading it.

Until next time,
Appleseed

Six Months After Completing My MBA

Six full months have passed since I completed my MBA at Queen's University in Kingston, Ontario, Canada. I find myself sitting at the kitchen table of my in-laws. When I returned to school, I definitely did not think I would find myself still looking for employment six months after completing my degree. I am very thankful for the support my family has given me during this trying time. It has not been completely without opportunity, it is just that none of those opportunities have turned into job offers.

I have been fortunate enough to be included in an article in Canadian Business magazine that was just released and is centered around MBA degrees. I am one of several people they profiled. The Business Career Centre and Marketing Department at Queen's University recommended me as a potential candidate when asked by the magazine. This may turn up some leads, but it might also not. Great exposure to get during a job hunt and I'm thankful for the opportunity.

A lot of my classmates have found employment. I'm not sure what the exact numbers are, but next month the school is due to publish the class stats. Although I have been counting the days since my last test, the career centre counts them from graduation. Their"six months" employment stat count is a month further away. Speaking of the career center, the career centre saw two of their most experienced people depart. A loss for the students, for sure, but the opportunity for new people to try a new approach perhaps. Should be interesting to see where things go.

There has been a lot of opportunities since my last post three months ago. One alum I met with contacted me to see if I would work on contract for his newly forming oil and gas advisory service. However, after this initial contact I have heard nothing. After tracking him down, it turns out that he is doing okay, but there is no room to take someone on with no experience. Although it was flattering to be contacted regarding this opportunity, there is no way it will actually result in a position, which is frustrating.

I have also been exploring traditional engineering jobs that would not make use of my MBA. A recruiter that contacted me had a client who was looking for an A&D/Exploitation Engineer and I was the first name that came to mind. Again, however, this turned into months of delays. First it was that they were "taking their time to review candidates". Then it was "the VP is on holidays for two weeks". Next it was "they are very busy". Then I hear they bought another company. All of these delays are understandable. After all of these delays, they went with another candidate and I never even got a call for an interview. I was a perfect fit for the job description, but with the economy the way it is, there is a lot of highly qualified people in the market making competition tough. Once again, it was flattering to be thought of for this opportunity, but very frustrating it hasn't turned into anything substantial. Following this same stream of job hunting I have found a Development Engineering position with a great organization in Calgary, but I still need to see if anything happens with this position after meeting with the recruiter trying to fill it.
Yet another opportunity came from the Queen's Business Career Centre (BCC). A former alumni asked the BCC , in confidence, to provide a few candidates for a potential position. They did not want to post an advertisement and they had not been happy with the results of the internal recruiting process they had almost completed. So, myself and one other classmate were recommended. I met this individual for coffee. It seemed like a dream fit and that everything should be a "go". This was just after the middle of August and the next round of interviews were promised for the first week of September. Then it was that it would take four to six weeks for HR to get things going and get an official interview. Next it was that he had been "too busy to start the process". After that it was that he would be on vacation for the next week. Then he gets back to me only to tell me he has been too busy with merging different division to start the process so it should be another four to six weeks. Then I get a message that a job posting has been sent out that closed on Oct. 7th and I will find out on Oct. 13th if I make it to the next round. It was delayed, again. Now interviews are supposed to be happening on Nov. 11th, but with a track record like the one this potential opportunity has, I won't be holding my breath. I was fortunate enough to discuss this with a career coach at Queen's and the conclusion I have come to is that all I can do is keep being "nice" and find other jobs. Yet again, it was flattering to be thought of for this opportunity, but very frustrating it hasn't turned into anything substantial.

The opportunity with Hatch that I mentioned earlier has dried up. They sent a few e-mails delaying the process and now they have just gone silent.

One of the best things I have done is contact and meet the Queen's University alumni in Calgary as well as attend a Queen's School of Business alumni event in Calgary. Both of these have resulting in strong leads. I couldn't believe that Queen's University has a person in Calgary that they pay to stay in touch with alumni and put them in touch with each other where appropriate. Contacting and meeting this single individual has resulting in an excellent opportunity I would never have found on my own. I have already had a first round of interviews for a position in the Marketing Division of a Multi-national company that sells pipe and the second round is for next week. This could be the opportunity I have been waiting for.

On another note, there have been some interesting consequences of expanding the class. The class size is 111 people. However, there are only a maximum of 80 people per class allowed in the electives. As a result, when it came to choosing electives there was a line-up of people outside the office at 6:30 AM, which opens at 8 AM, as people tried desperately to get the classes they wanted. I'm sure with different students having different goals and people going on exchange that everyone will get what they want for the most part, but its still tough on the students.

All that aside, I have strengthened my resolve to simply find a position that uses my skills and has decent compensation, whatever that may be. I am casting my net as wide as possible, applying for anything that I could even plausibly think of doing and that my skill set could fulfill, even if it is a long shot. From all business (i.e. Investor Relations or Financial Analyst) to all engineering (i.e. Exploitation Engineer or Development Engineer) and everything in between. I have designed myself a business card and put a three bullet point "mini-CV" on the back so I could network like never before and continue to look for and attend any possible alumni or professional event as I can. This "new" approach is starting to bring in a number of opportunities to apply for. 28 in the first week alone. Will this new approach work compared to the careful targeting of individual organizations and positions encourage by my career councilors? Who knows? Only time will tell...

Three Months After Completing My MBA

Three full months have passed since I completed my MBA at Queen's University in Kingston, Ontario, Canada. I find myself sitting at my in laws still without full-time employment. I split my time between my in laws and my parents living in subsistence as I job hunt. I'm very thankful I have this safety net to fall back on as I don't know what I would do if I didn't have it. The previous few months have not been completely without opportunity, but none of them materialized into a full-time position. As a result, I remain on the sidelines as the economy continues to improve and my bank account continues to empty.

I have not heard what the official class employment stats are, but from what I have heard through the the people I have been talking to, I am guessing we are more than 25% but less than 50% placed. (Aside: one of my readers wrote me and said they asked about this in their entrance interview and they says it is close to 65%) Many people have found and started jobs, but some have had to return to their previous employers which I know was not their first choice. Additionally, I have heard of one person who had signed on with a consulting firm last fall and had their position put on hold. As a result they are now looking for other opportunities as this may no longer pan out.

I understand that this year is by far the exception with the economic downturn, but it doesn't help ease the situation for those of us caught in the thick of things. If this had been next year, or two years earlier, most of the class would have been hired by this time. I'm curious how long it will take until everyone is employed. The only saving grace seems to be the work experience we brought with us into the program.

Through my face-to-face networking, I was able to secure an opportunity to interview with the business consulting practice of Deloitte with their Calgary practice. After countless hours of case interview prep and two interview session of three hours in length each, Deloitte informed me they had decided to go with another candidate. This is what I disliked about the "consulting" route from the outset. The enormous investment of time and energy just to hear "no". However, that isn't what really got to me about this process. Deloitte didn't pay or offer to pay for the expenses I incurred to travel to these interviews. I have interviewed with many different companies in a variety of industries in the past and all the companies, except the very small "ma & pa" outfits, offered to pay for the expenses incurred. Deloitte is not a small company and for them to pick-up a few dollars of gas wouldn't affect them, but it would make the world of difference to an unemployed MBA saddled with debt. Other than this factor, Deloitte was very professional and the interview process was an excellent experience. I would advise others considering this route to keep the time, energy and capital requirements in mind at the beginning.

Another consulting opportunity that has been slowly working through the process is with Hatch Management Consulting. Hatch has traditionally been a technical consulting company providing engineering, construction management and project management for very large mining, metal and infrastructure projects on a global scale, but they are looking to add management consulting to their other offerings. Although the company has been taking their time to launch their projects and hire people, they do seem to mean business and I'm interested to see where this opportunity could lead.

Additionally, I have been seeking out business development opportunities related to my previous oil and gas background. When I find an opportunity, I look for alumni who are in the ranks of the companies I have been targeting via the alumni database. Through these contacts I have been able to learn a lot about the position(s), people and future outlook of the organizations I'm hoping to join. Furthermore, these conversations often lead me to other opportunities. One specific case led me to a finance position with CIBC under a top energy analyst as a research associate. As luck would have it, one of my former classmates from my undergrad was working in a similar capacity with CIBC. After discussing with him the details, I decided this position would not work for me. Research associates are expected to work 12 to 14 hours a day, starting at 5 AM, 6 days a week and potentially more during "peak" periods like quarterly reporting. They spend half their day finding data and crunching financial models in excel for the companies they are covering. The other half of their day is spent writing research reports on the data and correcting the reports after their analyst has reviewed them. When I asked my friend about life out side of work, he didn't have one. No time to workout. No time for a relationship. No time. The compensation isn't even that good. Most of these positions start at 80,000/yr salary, no overtime and the "potential" for a bonus of 100% of your salary. The hourly rate on these jobs just doesn't seem worth the HUGE sacrifice required and the career path is simply to move up the ladder one rung to do slightly less work for more money or to move to managing a portfolio for an investment firm. As I am married and would like to stay that way, this is not the path for me, but for someone who was willing to sacrifice this much for a few extra dollars, there are opportunities to do so in the way of Equity Research.

Other opportunities I have been considering have been more in line with my previous background in oil and gas engineering. These positions wouldn't specifically make use of my MBA, but I need work and I figure if I brought the skill set to the table it would get used as I proved myself. More importantly, there are positions being posted in this area, but these positions have only been showing up in the past month and not nearly in the same quantity as when I left industry. Although the economy is "improving" and the Bank of Canada has declared the recession "over", things are still limping along. Yes there are more positions being posted, but when I discuss with recruiters about being considered for these positions, I am told that companies are waiting for individuals with significantly more experience. As many companies went through downsizing, mergers and acquisitions, there are highly experienced people displaced by these events available to fill these positions. This makes the job market very difficult. I have heard this all before when I graduated from my undergrad. "If you just had five more years experience...". Well, if over five years of experience, a professional engineering designation and an MBA doesn't cut it, then nothing ever will. I can't think of a better candidate to hire into an organization. So, I continue to persist and ask simply for the opportunity to be presented as a potential candidate.

At this time I have been reduced to looking for any opportunity that offers fair compensation and a chance to expand my knowledge while providing a reasonable work-life balance. I am no longer holding any grand delusions that I will find my "dream" MBA job right out of school. That will have to wait for the next position I take down the road or perhaps the one after that. I have invested a lot of time, money and energy into my education and I need to start seeing a return on that investment. The loans and lines of credit I used to finance my education will need to be paid back and sitting on the sidelines unemployed will not accomplish that goal. To top it off, I'm bored. I want a challenging job that requires me to use my skills and knowledge to solve difficult and dynamic problems.

Overall, the best method of seeking out information and potential positions has been contacting alumni and either conducting informational interviews via phone or over a cup of coffee. Meeting for coffee has by far been the best. This method has worked so well that I have received an e-mail concerning a potential opportunity that I would never have found on my own from one of these previous contacts a few months after our meeting. Moreover, during a different meeting my contact provided me with a different perspective and list of ideas to continue looking for opportunities when I thought I had exhausted all avenues. Also, sending "thank-you" cards after these meetings is essential. These people are taking time out of their busy schedules to meet with me and I really appreciate it. In addition, I think they like to be recognized for the gift of their time and it sets me apart from anyone else they meet. Meeting with them has also helped boost my moral and keep me in a positive state of mind. Both essential when conducting a full-time job search. In addition to this method, I keep checking eluta and indeed as well as the school's job website and many company career websites for postings. This is my holding pattern for the moment until I find employment.

In summary, most of the class still does not have a job. I have seen good results using the methods encouraged by our career center, but it still has not resulted in a full-time position. I have explored the traditional "consulting" and "finance" avenues taken by MBAs to no avail and I don't think I would find them especially rewarding. My expectations have been significantly reduced and I'm curious to see where I will find work as well as how long it will take for my cohort to do the same.

One Month After Completing My MBA

A full month has now passed since I completed the full-time MBA program at Queen's University in Kingston, Ontario, Canada. I now find myself sitting alone in my parent's house at this keyboard in Alberta, Canada and have had a lot of time to reflect on the past year.

After the program I took a fairly substantial road trip to see the Maritime Provinces as well as some of the major eastern US cities. The trip was a good way relax after the program. When the trip was over, I was back in Alberta and three weeks had passed.

I know that I should feel pretty good about life right now. After all, I'm a a professional engineer with a MBA from a top business school. However, I don't feel that way. I'm actually kind of down since I don't have a job and I have no idea where I might end up. The only comforting fact is that I have felt this way before, when I completed my engineering degree.

Right now, though, I am of the opinion that going back for the MBA at Queen's was a great decision and a solid investment. I learned so much about business, myself and others. After discussing just few of the topics we covered with friends and former work colleagues, I know that what I learned is of HUGE value. The MBA will definitely position me well for my future career aspirations.

I heard that convocation was a good time and a lot of the class attended. However, I did not return and only two of my six team members were in attendance. As I currently do not have a job lined up, spending the funds to return to Kingston for a couple days did not seem wise. The day after convocation, the school took out a whole two page spread in the Globe and Mail to post the photos of all the MBA graduates this year. This included graduates from all Queen's MBA programs (i.e. Exec, Accelerated, etc.). I remember how stoked I was last year to see that and know that I would be in there in a year. Seems a year has come and gone.

Just after the convocation ceremony, I received several text messages and even a phone call from my classmates congratulating me on our graduation. It was nice to know I was missed and even nicer to hear the familiar voices. That is one thing I miss the most - the people. I miss being part of a community of so many smart, driven, positive and fun people. You are often fortunate enough to have a few friends of this nature, but to be with 74 others is something else. I hope I get to see them again soon.

Other than the odd e-mail letting me know about a job prospect, I really have not heard much from my former classmates. The "water cooler" (i.e. online web portal space for posting messages) has gone quite. Only the odd e-mail from the Business Career Center staff.

As I mentioned earlier, I am without a job. To my knowledge, the employment stats one month after the program are pretty much the same as when we all left. This is likely due to the fact that a lot of people were moving, needed a little time to rest up after the end of the program and haven't had a chance to really further their job search, but I haven't heard from anyone, so this is just my speculation.

Now that I am in Alberta, I am ramping up my search for full-time employment. I have found positions to apply for through company websites, the Queen's career website, recruitment agencies and other industry career websites. In addition, I am arranging to "network" with past work colleagues, friends, and alumni that I have been in touch with over the past year. This is all part of the strategy imparted on us as we went through the program. It will be interesting to see how this job hunt compares with my previous ones. The economy is quite different from a year ago, but I am confident that I will find a job with in two or three months. All that being said, I didn't necessarily anticipate that I would be in this position. I really believed that I would find a job prior to graduation.

On another note, I still find myself with a kind of "highway fever" after going so hard. You get conditioned to ALWAYS being busy with learning, socializing, planning, studying, etc. that you find yourself constantly "chomping at the bit" when there is nothing better to do but enjoy a sunny day.

That is all I have to report one month out of the program. Hopefully in my three month posting I will have good news to write about. In the mean time, I will keep watching the blogs of the new cohort to see how they are fairing...

Financing: Take what you can get.

Well, it is finally done. The paperwork for the line of credit that Queen's will pay the interest on during and for 12 months after completing the program is on the way. Queen's is covering tuition plus fifteen thousand dollars. I tried to get more, but to no avail. That is as high as the bank is willing to loan on this particular "product". I also had to have a co-signer since I have zero assets.

Nothing reminds you how poor you are like asking the bank for money.

We provided a detailed breakdown of the years expenses to the banker. After reviewing it, the picture the banker painted for me of my financial situation upon graduation was pretty bleak. I got pretty depressed about the whole thing and was almost ready to pull the plug and cut my losses at that point. I had to sit down and crunch some numbers. I also took yet another look at what prospects might be available after graduation for employment. If I manage to find a job that pays well while I'm in school and I can start right after graduation I might be okay.

As if that isn't worrisome enough, the finances I have set up won't be enough to cover my expenses for the whole year, but I figure with the little bit I can save, a good tax return, and taking what little I have in RRSPs out through the "lifelong learning program" I can make it to September. Maybe December if things really stretch. At that point I will have to look for an additional line of credit for the final four to six months. I feel like I'm calling "all in" with a pair of tens pre-flop and I haven't even reached the final table.

I really need some sort of entrance scholarship, but I don't know if that is going to happen. From my conversations with the students during my interview it sounded like scholarships were few and far between. Still, I can hope!

I'm also going to apply for another scholarship I found, but I'm not writing about the details here until after I have found out if I get that one or not. I don't want extra competition.

(This deadline has come and gone. It was the Engineers Canada-TD Meloche Monnex scholarship for professional engineers in Canada returning to school to study a subject other than engineering. There is also a scholarship for professional engineers in Canada returning to school to study engineering futher.)

I've even started to "pay the stupid tax." By that I mean purchase lottery tickets. If I ever needed a small financial windfall, now is the time, but I have a better chance of getting hit by lightning.

It is unnerving to be setting out on this kind of venture with two thirds of your financing in place. Everyone keeps telling me that, "this is a great opportunity," but who really knows? It's not them climbing out on the thinnest tree limb hoping it doesn't break. Is "the fruit sweeter further out on the limb?"

For now I will take the tuition plus fifteen thousand that is on the table and hope for some kind of scholarship to help, while continuing to look for other ways to make this work. I'm either incredibly brave or incredibly stupid. The only difference between the two is the result. Time will tell since I'm jumping in with both feet.

Contemplation: Is An MBA Worth It?

(Addition: Just found an interesting article on "Is an MBA worth it" from the Globe and Mail in March 2008 and thought I would edit this post to include a link to this site.)

Is an MBA degree worth it? After lost wages and tuition does this opportunity payout? Would you be better off just sticking to your current position for the next decade?

The majority of us will work to earn a our living. In today's society you could be working a long time. Although I am attempting to quantify the monetary advantages of an MBA, I cannot even begin to assess the emotional, intellectual, and social rewards of an MBA. Can you really put a price on enjoying your employment? If you are like me then you had to suffer through countless student summer positions that redefined boredom and uselessness firsthand. Perhaps you had a position that tried your patience to the point of driving you to the brink of insanity? If you have, then I'm sure you can agree that finding enjoyable employment is PRICELESS. I believe an MBA will help me with this, but it may not do that for everyone.

With that stated, let's continue with the analysis of this opportunity.

To test the value of an MBA I assembled a few scenarios. All of these involve certain assumptions, which anyone can criticize, but as they were used in all cases I would argue much of the error caused by incorrect assumptions cancels out.

To provide a sufficient time scale I chose to look at 10 years. All of the scenarios started with 1 year of employment at my current position. After that they explore a variety of paths. I then compared them to the base case of staying at my current position. All cases assumed an 8% pay increase every year, but it doesn't matter as the affect is irrelevant as I explain further down.

• Scenario A: Base case. Do not return to school. Work at your current job with steady pay increases every year.
• Scenario B: Work in previous position for 1 year, return to school, enter new industry at a slightly lower salary, but receive a 50% one-time increase after 3 years in after gaining experience. (Note: This increase would either come from changing organizations or being recognized for your new expertise within your current organization)
• Scenario C: Work in previous position for 1 year, return to school, enter previous industry at same salary with potential to enter management position, but never get the chance.
• Scenario D: Work in previous position for 1 year, return to school, enter previous industry at a higher salary with potential to enter management position.
• Scenario E: Work in previous position for 1 year, return to school, enter previous industry at a higher salary with potential to enter management position and extra compensation
• Scenario F: Work in previous position for 1 year, return to school, enter previous industry with a much higher salary with potential to enter management position and extra compensation

The specifics of these scenarios are interesting, but the detail is too heavy for this venue.

Results:

• Scenario A: 1.00 times base case since this is the base case
• Scenario B: 1.09 times base case
• Scenario C: 0.87 times base case (the only case that was worse than not taking an MBA)
• Scenario D: 1.34 times base case
• Scenario E: 1.34 times base case
• Scenario F: 1.68 times base case

For specific values I looked at my current position and where I could reasonably be in 10 years if I didn't go back for an MBA. Fortunately for me I have my professional association's salary surveys to consult (APEGGA Salary Survey Page) (2006 Results). For post MBA positions I checked various Canadian business schools placement statistics. All the MBA information I found was similar to what is posted at Queen's. (Site with stats) (2007 Results)(2006 Results). All of the results were discounted to today's dollars. If possible, I would recommend all people contemplating an MBA to complete a similar exercise so you can really see the effect.

I ran sensitivities on the influence of discount rates and inflation rates of salary. The discount rate had no effect. The inflation rate of salary directly affected the magnitude of the difference between the cases, but the cases always ranked the same.

The only scenario that didn't workout for the better was the case where I returned to my previous employment position and nothing changed. Even taking a pay cut to switch industries was beneficial provided you are able to see a large, one-time increase in your salary after 3 years.

In other words, don't take an MBA and go back to doing the exact same thing you were doing before.

None of these scenarios considered the substantially rewarding situation of starting a business that becomes incredibly successful or catching that one-in-a-million opportunity that is out there if people are really willing to dig for it. Those opportunities would be much more rewarding. Perhaps a senior management position?

In conclusion, financially an MBA is worth it. You should easily be able to get the MBA to payout. The magnitude of financial benefit is a directly proportional to what you do afterwards. How much and when? Well, that lies squarely on your shoulders.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?

Discussion with MBA Grad: Full-Time University of Alberta MBA

Recently I bumped into an old classmate from the University of Alberta. Like myself he had also completed a bachelors of science in mechanical engineering. However, he has also returned to the University of Alberta to complete an MBA. We arranged to go for lunch to catch up and I took the opportunity to ask him about his experience.

After graduation he worked for approximately a year as an engineer-in-training for a mid-size engineering firm that specialized in facilities and well tie-ins for the oil and gas industry. After being accepted to the program he returned as a full-time student to complete his MBA.

Once he graduation he returned to his company. He mentioned that his supervisor asked him to remove the "MBA" from his business card because it "intimidated" people. I don't think he was very impressed with that request.

Shortly after that he found employment as an Oil and Gas Analysts with a very well respected investment firm that describes themselves as, "a full-service, independent, Canadian owned investment bank and brokerage firm," that, "provides a wide range of financial services to both its corporate and retail clients."

He seemed to like what he was doing and appreciated that his MBA allowed him to get there while his engineering degree gave him the technical skill to specialize in the oil and gas industry. However, I did get the strong sense that he regretted not being able to get a stronger engineering knowledge base before returning to school. The MBA re-branded him as business and really overshadowed his previous degree.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Decisions: Which Canadian MBA Programs to Apply Too

I've pretty much decided to stick with a Canadian school since choosing a US program has all kinds of strings attached to it as I discussed in my previous posting.

This leads me to my next obvious decision...

Which Canadian MBA programs to apply too?


For several years I have been waiting to return to school to earn an MBA. During this time I have had plenty of opportunity to review rankings from one year to the next, read articles criticising various aspects of MBA programs, and track down and discuss the programs with MBA graduates. Hopefully this information will help me.


When I started, the study guide I was reading suggested a person apply to at least 3 schools. One "dream" school, one "above average" school, and one "for sure" school. Is this right for me? I don't think so.

Looking at my GMAT, work experience, and abilities I believe I could reasonably apply anywhere. Although I'm not the "dream" applicant I do have quite a bit to offer. Therefore, I have decided that my first two schools will be "dream" schools that have excellent reputations and programs. My final school will be something more reasonably obtainable.

Queen's is my first choice. Since I they are at the top of my list and they offer a May start date I will apply to them first. The program has ranked well in the past and present. I like the people I have met from there and I like the potential opportunities an MBA from Queen's offers. Also, there is no application fee to apply to Queen's.

Ivey is my second choice. Ivey has a good program historically, but they have been having issues with ranking in recent years. Although they have an extensive alumni network I don't think it is going to help me with where I want to go, so that isn't really important. Also, I haven't really like the people I've met from Ivey so far. Since Ivey's start date isn't unit September, I can apply to Queen's and see how that goes and then apply to Ivey. This will also save me money since Ivey has an application fee and there is no point in paying that if I get in at Queen's. I will also have to consider why I didn't make it into Queen's since the reason might also prevent me from getting into Ivey.

Haskayne is my final choice. I don't think I would have any issues getting onto Haskayne's program given my GMAT and work experience. Also, the program is local and I wouldn't have to move. Unlike my first two choices I would be stuck in the "bubble" that is Alberta. Alberta is very fortunate to have oil and gas, but it is so over powering that it penetrates ever aspect of society here. I would prefer to study business outside of Alberta since I have had plenty of exposure to the business of oil and gas already. Unlike the other two programs, if I chose this program I would probably do it part-time while working. That would take longer, but I would save money in the long run. At the end I would still get my MBA from a pretty good school, but not one of my "dream" schools. I'm only going to go this route if my first two application are unsuccessful.

I know there are many other schools I have ruled out, but they aren't right for me. Also, I really want to get an MBA from a school with a well respected name. All the MBA programs I looked at offered a lot, but only a few had the 12 month length I wanted. I'm not posting my choices here to slight any other programs, but I thought my decision process might help others.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?

Aside:

Google within Queen's ( http://www.google.com/univ/queensu)

Discussion with MBA Grad: Part-Time Haskayne MBA

During the discussion I had with the individual who took his MBA part-time at Bath University he mentioned he worked with another MBA graduate that I might want to talk with. The individual in question had taken an MBA part-time at the Haskayne School of Business (University of Calgary) while working full-time.

I was given a phone number for his office and called the guy up after working late the same day I had met with the guy from Bath University. He answered and we had a good conversation about the program he went through and the MBA.

His company had paid for the program since he continued to work full time while taking the part time MBA. Since he was working and living in the same city as the school there was no need to video-conference, which did make it easier. He said it was tough to balance work, school and family. Almost too tough, but he would do it again and was happy with the results.

There is one comment that really got to me though. He said, "I have a two year old daughter and I'm only getting to know her now." Ouch. I could tell from his voice that this hurt him a lot.

This discussion has made it clear I should probably take an MBA before I have a family or not at all.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Discussion with MBA Grad: Part-Time Bath MBA

A coworker heard I was considering an MBA and she mentioned her husband had one. I asked if he would be willing to meet to discuss it and she put me in contact with him. We scheduled a meeting at a local Tim Horton's coffee shop on a day he would be in the neighbourhood on business.

This is a fairly unique scenario as the couple in question had immigrated to Canada from the United Kingdom. He had taken his MBA part-time at Bath University. Bath MBA. His employer, a British telecoms company, has sponsored the whole thing! He was very happy about his entire experience and would do it again. Some regrets were expressed about doing the program while having a young family, but he said it was all definitely worth it.

The amazing part I found quite interesting was they originally moved to Canada after he had been hired by a very large Canadian telecoms company. Shortly after hiring him the telecoms company got into serious trouble, was laying people off, and downsizing like mad. This went on for a few years as they dot-com bust occurred.

You would think that he got laid-off or demoted or took a pay cut, but no! He was actually promoted and given successive raises because of the results he was able to produce. He was quick to point out that he was able to do this because of a combination of the education he had received during his MBA and his work experience.

I don't know if many people in Canada can find companies that would sponsor their MBA, but I would sure like to find one. It would make the prospect of working full time while going to school almost likable.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Meeting with Ivey: 1st Class On The Road

Today I attended the "1st Class on the Road" put on by Ivey. They have a professor travel to different cities and meet with perspective students. The professor discusses the MBA program, but also hands out a sample case study, which they work through with those in attendance to help give an idea of what the teaching style as Ivey is like. All you have to do is sign-up, which I did a few weeks ago.

I am very seriously considering Ivey since they did so well in the latest rankings. They also have a really good reputation. I was pretty set on Queen's, but after taking a closer look I'm back on the fence. I don't know who to pick now as both Queen's and Ivey are strong schools.

It was very interesting and definitely helped me get a better feel for the case-based teaching style of Ivey. There was a member of the recent alumni present who also answered questions. The event was held in a conference room of a hotel in downtown Calgary after work hours.

I won't get into the details, but I think if you are considering an MBA it is worth going to one of these just to get a feel for the case-based teaching style offered by many schools. It definitely isn't the same as visiting a school and sitting in on a class, but sometimes travelling to every school isn't feasible. This event comes to your town and you show up.

The extensive alumni network of Ivey was continuously pointed out. I know that is good thing, but there is more to a program than the number of people that went through in the past. I'm more concerned why Queen's beat these guys in the rankings. Also, being the oldest MBA program in Canada, as well as one of the older ones in North America, means you are going to have a larger alumni network.

I'm sure alumni are going to consider other alumni for positions that become available in certain organizations and in those cases you would be wise to select your school based on where everyone else has gone. The alumni that was there was from Deloitte and Touche. After looking at the ranks of management they had posted on their website I found one person who had taken their MBA at a school other than Ivey. If you want to work for these guys you have to go to Ivey.

I was a little concerned about the emphasis the professor made concerning how grades are awarded. He was very certain we knew that grades were heavily influenced by class participation and by that he meant time each student was able to occupy during group discussions of case studies. I think this approach could hurt the quality of a program since students are more likely to just say anything to get "airtime" for their grade as opposed to say only what needs to be said.

There was something about the personality of the Ivey staff and alumni present that I didn't quite like. Can't quite put my finger on it, but I didn't like it. That "gut feeling", my concerns about "airtime", and the fact that there are schools rank ahead of them may have moved them to my second choice. Going to have to do more research.

(Update: checkout what a Queen's 2010 candidate found when visiting Ivey)

Decisions: US or non-US MBA?

After reviewing all the MBA programs listed in The Financial Times, Business Week, and The Economist I found myself presented with a very obvious choice.

US or non-US MBA? Or should I say, "Do you want to live in the US?" Answering this question first is essential.

The rankings are filled with well recognized American schools. They do insert the international schools, but they never rank as well. They also separate the international schools off to the side, but that only makes them look more conspicuous. How to process all this information into a choice? Inspecting the international schools closer I could see a few of the higher ranking ones were from Canada and offered the 12 month intensive program I had been considering instead of the traditional 24 month program with an internship.

What does going to a US school means really mean? If someone were to go to the trouble of moving to the US for an MBA they would obvious want one of the better schools. Almost all of them are 2 years in length and cost $60,000 or more a year for tuition alone. Of course the schools are more than happy to hook you up with an agent who would loan you the money. Not only do you have to finance the tuition, you also have to pay for living in the US. Since you are a student you can't really work to earn money to offset the cost and since you are on a student visa it is unlikely your spouse can work either. At the end of the day you are out $200,000 to a US lending institute and you have an MBA from a well respected school.

Now what?

To make that MBA payout you pretty much need to accept the highest paying position, which is more than likely going to come from a US firm than anywhere else.

Transport yourself to the future 5 years. You have paid off you loan after slaving away and you are finally getting somewhere with the organization you have joined. Now that you are done you want to move home, in my case to good old Canada, right?

WRONG! There is no way you are going to uproot your wife, kids, and mix-up your career AGAIN! Remember, she still remembers how you went back to the "student" budget to complete the MBA and pay it back. Now that she has a house, kids, a car, friends, and a comfortable lifestyle there is no way you will convince her to give that up. Besides you would have to leave all your new friends, career, and lifestyle behind. Who is going leave all that?


I wouldn't mind moving to the US, but for it to be a requirement seems like I'm giving up a lot of freedom for future choice. I think I will stick to the Canadian programs. At least that way I get to choose if I want to be in the US.

Do you want to live in the US? Answer that question first because that is the real question you are answering when you are considering a US MBA program.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?

(Update: check out what a 2010 Queen's MBA Candidate has to say on this issue on their blog)

Discussion with MBA Grad: Full-Time Ivey MBA

I mentioned my MBA ambitions to one of the consultants working at my place of employment and he said he knew someone I absolutely had to meet. He put me in contact with a longtime colleague of his that was currently working for a junior oil and gas company.

This individual had been working as a professional drilling engineering in the early 1980's. He had enough experience at the time to be an expert in deep basin drilling, but decided to take a year off to travel Europe. After travelling he returned for a 2 year full time MBA at Richard Ivey School of Business at the The University of Western Ontario located in London, Ontario.

Upon graduation he returned to Alberta, but it was 1987 and the oil and gas industry was in ruins from the National Energy Program (NEP). He found work in other industries, but nothing as lucrative as what he had been doing. After about a decade the industry had recovered enough that he was able to find a suitable position.

He swears the MBA cost him at least a million dollars of lost opportunity if not more. His assessment includes the decreased wages he took because he couldn't come back to the oil and gas industry immediately.

He may be correct, but as a high paid expert deep basin drilling engineer I don't know if he would have been safe in the post NEP economy of Alberta.

One thing is for sure, leaving the industry you want to be in at the wrong time can be bad news. I will definately have to think this decision through before I go back.

I am really glad I met this guy because I know I have done my research when I have someone telling me the otherside of the story. All I have been hearing from the media, friends, and colleagues is that the MBA is great. Now I have found a guy that is telling me the MBA ruined his life.

Is an MBA Overrated? Checkout this article.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Discussion with MBA Grad: Part-Time Queen's EMBA via Distance Ed.

After mentioning my MBA aspirations to a friend it came to light that he knew someone with an EMBA. A friend of the family had taken the Part-Time Queen's EMBA through distance education and offered to put me in touch with this individual. I jumped at the opportunity.

Queen's EMBA

After a couple of e-mails we settled on a telephone conversation during the afternoon. He had used his EMBA to switch industries. Previously he had been working with a pharmaceutical company in a non-management role. After the EMBA he found work marketing a network of ski-resorts in the Canadian Rockies.

He had done the EMBA part-time and it was tough. He had a wife and two young children while working full-time and doing an EMBA. Thrusday evenings were crammed with last minute team work. Friday and Saturday they would video conference with a professor at Queen's. Sunday was more work. Tuesdays the team would meet again to review the latest assignment. That brings us full circle. Now repeat.

Every night of the week he was busy with the program.

This went on for 12 months.

Then he had to travel to Kingston and live there for 3 months to study full-time to finish off the degree.

I don't know if I would pick this option unless I really had to.

Other discussions with MBA Grads:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

Plethora of Programs: Which one to choose?

So, you have decided to return to school to earn an MBA. Now what? As if deciding to go back to school wasn’t enough! The choices are just beginning my friend…

There are thousands of business schools throughout the world and many of them offer MBA programs. How do you choose which one is right for you? It is like trying on hats. Each one fits a little different, but which one fits just right while accomplishing the goals you setout at the beginning?

Before you begin it is important to look at what you want to get out of the program and which options will provide this for you. After eliminating the ones that aren’t an option, you have to narrow the field still more to ensure you are picking programs that will really “click” with your individual learning style, personality, and goals.

Below I have compiled some very basic information on MBA programs I found during my search a program.

I must pay credit where credit is due. The majority of this information was obtained from a online presentation given by Lori Garnier, the Associate Director for Queen’s MBA, during the Canadian Business Expo 2007. I knew it all from my research, but the way it was presented just really made everything click.

Types of Programs

Full-Time (Pros)

• Allows you to fully immerse yourself in your studies; can go deeper into subject matter
• Not distracted with workplace responsibilities
• Allows for greater access to faculty, administration, alumni, guest speakers, resources, and career management

Part-Time (Pros)

• Ideal for someone who is not in a rush to earn their MBA
• A flexible learning environment .evenings or weekend classes are sometimes possible
• A more risk-averse approach (keep working while you study)

Executive MBA (Pros)

• An experience-rich learning environment; executives bring their considerable experiences to bear in class
• Minimal risk .participants continue to work while completing MBA; many are sponsored by organization

Full-Time (Cons)

• Greater financial risk (lost wages during your studies, no guarantee of employment upon graduation)
• Must conform to class schedule

Part-Time (Cons)

• Could take 3 years or more to complete your degree
• A less rigorous learning environment than a full-time program

Executive MBA (Cons)

• Participants must juggle significant workplace and home responsibilities with their studies
• Participants must possess managerial work experience to be accepted into these programs
  

Teaching Methods

Traditional Classroom Teaching (Pros)

• Maximizes face-to-face interaction with fellow students and faculty
• Students are usually in the same building as program administration and career management staff

Distance Learning (Pros)

• A self-directed approach: learn what you want when you want

Videoconferencing (Pros)

• Technology allows for live interaction with fellow students and faculty despite physical separation

Traditional Classroom Teaching (Cons)

• Can be a challenge to be involved in your studies and interview for potential jobs

Distance Learning (Cons)

• Can take 3 years or more to complete your MBA
• Student/participant must exercise self-discipline
• Limited (if any?) opportunity to interact with professors
• Limited (if any?) opportunity to collaborate with peers
• Limited interactions with program administrators, guest speakers, alumni, career management staff

Videoconferencing (Cons)

• More limited interaction with class as a whole
• Possibility of technical glitches

Individual versus Team-based Learning

Individual Learning

• A more conventional way to learn
• May have had bad experiences with teams earlier in academic career
• Team-based model is not for everyone

Team-Based Learning

• Mirrors the workplace; students are asked to treat learning teams like a job
• Students/participants learn to function in a high-performance team setting
• Team facilitators monitor team’s interactions
• Learn valuable project lead, team-building, and conflict management skills

1 Subject versus Integrated Subjects

1 subject at a time

• More conventional method of learning; used throughout elementary, secondary, and most postsecondary institutions
• Can zero in on a particular topic

Integrated, cross-functional approach

• Most business decisions are complex, multidisciplinary considerations; shouldn’t management education reflect this?

Teaching Styles

Case-based teaching

• a useful tool to analyze business problems
• analyzes issues from a multi-disciplinary approach (e.g. finance+marketing+human resources)

A blend of teaching styles

• cases not well-suited to all subject matter; some courses require some theory up front
• we do not have the luxury of hindsight to deal with real-time business decisions
• business simulations can be effective means of exploring subject matter (e.g. .Beer Game that examines supply chain management)

International Exchanges

International exchanges can allow you to experience life in a different culture first-hand while getting an understanding of how business is conducted elsewhere in the world and increase your global awareness. Exchanges can also open door to career and networking opportunities abroad.

Electives

Specialize in an area that’s important to you since you probably will want to end up working in that aspect of business. However, you may need to be cautious when considering schools that offer too many different electives. They may be spreading their resources a bit thin and the result will hurt your education. Sticking to a solid core of four or five specializations (e.g. Entrepreneurship, Finance, Marketing, and Consulting/Project Management) allows a school to offer top notch instruction since they can devote more resources to them than if they were offer more.

Additional Designations

Many MBA programs are starting to offer the opportunity to students the option to earn additional credentials beyond the degree itself such as a Project Management Professional (PMP), Certified Management Accountant (CMA), or Certified Management Consultant (CMC) designation. You will need to consider if you want to try to take on this additional challenge and if it is important to you.

Coaching?

Some MBA programs are beginning to offer professional coaching and guidance to their students while they are in school. Why is coaching important? For the same reason coaching is important in so many other competitive venues it is can also play a key role in your MBA experience. Having someone there to assist and you in your “training” can allow teams to work more efficiently. A good coach can develop your leadership and interpersonal skills faster and beyond what you may have been able to achieve on your own. All this combined means having a really great MBA experience which will develop your confidence in your education and your capabilities. Therefore, access to professional coaching and guidance could be a part of which MBA programs to consider.

Play to Your Strengths

Although most MBA curriculums will emphasis areas as accounting, economics, marketing, and IT will be sure to address any of your weaknesses, what about areas of strength? In the end you not only want to reinforce your weakness, but you want to vastly improve your strengths.

Once you have taken it all into consideration you will have several schools to choose from. Narrowing that list down can be an even tougher task. Hopefully this information can help you pick out a few trees among the forest and make your decision a little easier.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?

Comtemplation: Who should do an MBA?

This is a re-posting of a brief write-up I did for an MBA forum. I thought it was pretty good so I am re-posting it here. Hope you enjoy it.

Hello,

I am an engineering working in Alberta, Canada and I have my P.Eng. designation. I have spent the last several years working in the oil and gas industry and prior to that in the utilities industry. I am applying for a full-time MBA program at Queen's School of Business in Ontario, Canada. I am doing this now because it is the last major academic task I want to complete prior to settling down and starting a family.

Over the last 2 to 3 years I have been researching the MBA and have had the privilege of finding several people who have completed the program in various ways at various times in their careers. Some have gone back part-time or full-time earlier in their careers, some part-time or full-time later in their careers. Some have gone to non-Canadian schools and others to local programs. Some switch industries after graduating while others stayed in the same industries. I have found some people who swear it was the best thing they did, others who have regrets about the time it took away from young families, and still others who swear it wrecked their lives and cost them at least a million dollars in lost wages and opportunity. If possible I recommend you take the time to call up various schools and ask to be put in contact with alumni. Also, let people know you are considering it as quite a few people know someone who has an MBA that would be willing to discuss their experience. For the price of a cup of coffee and some of your time you can discover a lot. Most people want to discuss and share their experience and jump at the opportunity to do so.

Most of the individuals I talked to swear the MBA helped them get to where they were at, but finding that person who swears it wrecked their life was truly the icing on the cake. It let me see the other side. I eventually concluded it was a combination of unrealistic expectations and bad timing with the job market. I would tell you more, but unless you do it for yourself it is just more babble on the internet.

In the end I have decided to return to school; not because I think it will get me that high paying job instantly upon graduation, but because it will provide me with the business and management education I need to find personally rewarding employment. I don't want to switch industries; I just want pursue a career more involved with business and management rather than a career focused purely on my technical knowledge and skill. If I don't take the initiative, I feel I'm just waiting for someone else to decide that I'm the right individual, the "chosen one", to learn those skills. An MBA will allow me to acquire the skills and knowledge needed to make that path available, instead of waiting to be pre-selected for grooming; an opportunity that may never arrive.

Whether it is managing coffee franchises or running a multi-million dollar corporation, I believe money will come if you excel at what you do, with or without an MBA. Different paths do offer different compensation, but on the whole if you excel and enjoy what you do, advancing on that chosen path will be considerably easier and the associated compensation should follow in turn.

Going back for an MBA is about learning. If working on a daily basis with the knowledge an MBA teaches will make your work rewarding so you want to excel at your job, then do it. If not, find something you enjoy and pursue that instead.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?

The Choice: Why go back for an MBA?

Why did I decided to go back for an MBA?

I am a professional engineer working in Calgary, Alberta during a time when the oil and gas industry had just experienced some rather impressive growth. Finally my hard work to earn an engineering degree and put together some work experience are paying off and I decide to put it all on hold? Why leave a position I enjoy that is compensating me well? Why take on even greater debt?

After having worked with a few consulting companies and meeting several other senior engineers I realized I was likely looking into my the future. These individuals have spent a life time acquiring specialized technical knowledge. Some of them have had the opportunity to rise to management positions and other not. If I stayed in the industry I would likely be subject to a similar fate.

I could not see myself in 20 years being able to get up every morning as a technical expert that didn't make it into management. Although I love engineering and the challenges that come with it, I couldn't risk not having new challenges in my future.

Economically the cost of the MBA will likely pay for itself and then some. Not in 1, 2, or 5 years, but in 10 years I am sure it will. Besides, there is more to life than money.

In the end I have decided to return to school; not because I think it will get me that high paying job instantly upon graduation, but because it will provide me with the business and management education I need to find personally rewarding employment. I don't want to switch industries; I just want pursue a career more involved with business and management rather than a career focused purely on my technical knowledge and skill. If I don't take the initiative, I feel I'm just waiting for someone else to decide that I'm the right individual, the "chosen one", to learn those skills. An MBA will allow me to acquire the skills and knowledge needed to make that path available, instead of waiting to be pre-selected for grooming; an opportunity that may never arrive.

In short, I'm taking an MBA to preserve my sanity.

Other related links with in my blog:

• The Choice: Why go back for an MBA?
• Contemplation: Who Should Do An MBA?
• Plethora of Programs: Which one to choose?
• Decisions: US or Non-US MBA?
• Decisions: Which Canadian MBA Programs to Apply To?
• Contemplation: Is the MBA worth it?
  

Discussion With MBA Grad: Full-Time Queen's MBAst

When I asked Queen's to put me in touch with some of their alumni they were quick to respond. They even found someone who was a professional engineer, had graduated in the last couple of years, and was in a location where I could easily meet with them.

First off let me summarize that the individual I met with was very happy he took the MBA, would do it again in an instant, and was very happy with the results after graduation. The program he when through was specific to students who already had a degree in science or technology. Since then the program has been changed and now is not specific to people with science or technology degrees.

Queen's MBA

The individual I met with was a few years older than myself and had used the MBA to switch industries. Prior to going back he was working as a facilities engineer in a small city between Alberta and Saskatchewan for a major oil and gas producer. After he completed the program he was recruited by a private company that describes itself as, "a global, energy advisory firm that provides comprehensive Investment Banking, Acquisitions & Divestitures and Global Equity Capital Markets services." Basically, he now helps oil and gas companies buy and sell properties. He analyzes and creates sales packages for oil and gas properties that companies want to divest.

When asked about the international component of Queen's he said that a large majority of the international students were from India.

He discussed the merits and drawbacks of a 12 month MBA in contrast to a 24 month MBA program.

Merits of a 12 month program:

• Less time spent out of the workforce means the opportunity costs less
• Don't have to pay for an internship

Drawbacks of a 12 month program:

• No internship to try out an industry you have no experience in
• Program is so intensive and busy that finding time to look for work is difficult

He had known several people who had taken the 2 year MBA and they all mentioned that the 2nd year wasn't as busy as the 1st allowing them time to search for work. His only word of advice was that the program was very demanding and to be prepared to be too busy to look for work until after completing the program.

Other MBA Grads I had discussions with:

• Queen's Full-Time MBAst
• Queen's Part-Time EMBA
• Ivey Full-Time MBA
• Bath Full-Time MBA
• Haskayne Part-Time MBA
• University of Alberta Full-Time MBA

The Start.

Welcome.

This blog is to document my journey taking a full-time Masters of Business Administration (MBA) at Queen's University in Kingston, Ontario, Canada starting in May 2008 and finishing in April 2009.

I am writing this blog with the hopes someone will find the information useful. After discovering a blog that did something similar I realized how useful it was to be able to refer to someone's experiences. The blog is linked and documents his journey through the program a few years ago.

The program has been totally revamped and now is no longer just for individuals with science degrees. They accept everyone who meets the new entrance criterion and the result is a very diverse class resulting in a broad range of people.

I will attempt to post weekly and keep my posts on topic and to the point. I will attempted to keep other topics and issues to another blog to ensure the purity of the information posted here remains high. In this way I hope others are able to find and use this blog as I did the aforementioned blog.

The true birth date of this blog is Nov. 15, 2007 at 9:29 PM mountain standard time. I have back posted entries to recreate the timeline of the events because I think this information is important.