MA Degree: Worthwhile or Waste of time?

Today’s New York Tmes includes a discussion of the Masters Degree. “Is the degree worth getting?” the editors ask. Dozens of people wrote to comment.

An MA degree never has been particularly helpful except in certain fields, such as business and social work. But graduate school can offer opportunities beyond the value of the degree. For instance, you make connections that can lead to jobs.

So I would answer this question with, “It depends.” I wrote an ebook about going back to school at midlife. You can learn more here.

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Mid-life Career Change By Degrees

Should an MBA degree be included in your mid-life, mid-career game plan? The answer is, “Getting a degree can be the best *or* the worst career decision of your life.”

Recently a national newspaper featured an article questioning the wisdom of escaping tough economic times by returning to school. Their article was targeted to twenty-something managers. What if you are mid-life and mid-career?

As a former college professor, I’ve learned that university enrollment is counter-cyclical: many people go to school when they have a hard time finding jobs. Many are in early career stages but we’re seeing more and more mid-life professionals following this pattern.

If your career has stalled or hit a few speed bumps, a return to school may be a good move. But “school” may not mean a conventional degree and your choices will be different from those of an entry level colleague.

School might mean a certificate program, an online distance education program, a continuing education course and/or a conventional degree program. Each offers benefits as well as downsides.

Some programs are so bad they’ll actually harm your career. Others are so valuable for specific professionals that I would encourage a client to negotiate for reimbursement as part of an employment or severance package.

(1) I recommend online distance education only if you have a very specific career goal and attending a live class is just not practical. For example, you might want to become a librarian, but the nearest live program is a few hundred miles away. You can’t leave your job and/or your family. If you’re a military officer deployed to a war zone, online education makes a lot of sense.

(2) A graduate program with a live component will offer valuable networking opportunities. Even if you just get together for weekend classes, you get to make connections and learn about other companies. I’ve heard many success stories from mid-career professionals who chose this path.

(3) Before investing time or money, investigate any program (especially if you’re hoping for a degree or certification). Degree programs should be accredited, but that’s a minimum standard. You need to find out who completed the program and where they are now.

(4) Enrollment and admissions counselors will help you, but you should not rely solely on their promises to make a decision. And if you rely on promises, get them in writing.

For example, “James” had a tough travel schedule. His enrollment counselor assured him that professors would be flexible about deadlines. In fact the school had a very strict deadline policy. The counselor honestly didn’t know: in many academic places, faculty and admissions staff rarely cross paths.

(5) You may be able to get a job at a university that comes with tuition for yourself and your family. Be sure you will get time off to attend the classes you need. If you need that 9 AM accounting class, but you can’t leave your job before 4 PM, you won’t enjoy the benefit.

And now I invite you to learn more by downloading my Mid-Life Back to School Guide. I got so frustrated with inaccurate info out there, I wrote my own.

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Career Advice From Your Alma Mater (30 years later)

Today’s Wall Street Journal article (“Back to School for Career Advice,” by Joann S. Lublin) describes a 51-year-old woman who returned to her MBA program for career coaching. The coaching apparently focused on accountability (a staple of just about any coaching) along with career tips.

The article goes on to note that many universities still do not offer these services to alumni. You’re most likely to get help from a business school although some other professional schools may be stepping up.

Definitely worth a try, although you may have to pay for the alumni coaching.

If your career office doesn’t offer help, you can still get help from your alumni office. Ask for a list of alumni in your geographical area. Most likely you can use this list to develop an information network.

These days, if you find people who will return your calls when you seek an informational interview, you’ve struck gold. Of course, you can’t abuse the list and some alumni will not feel the connection is strong enough to justify a request for help.

As usual, you have to choose words carefully when you clarify your reasons for calling. And you need to follow the usual informational interview courtesies.

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Will a midlife MBA be a waste of time?

Interviewed for Guy Kawasaki’s blog, Brazen Careerist Penelope Trunk says time off for an MBA makes sense ony if you’re at the beginning of your career (which I would translate to 3 years or less) and if you’re attending a top program.

Ninety percent of the time, I would say, “She’s right.”

But if you can comfortably afford a full-time or executive program, the MBA can make sense for midlife career changers. If you choose the right program, you can make contacts fast. If you’ve been a stay at home mom, a full-time artist or generally undirected, you may be able to shift your image and get hired by companies who wouldn’t look at you otherwise.

I would not recommend going into debt for a mid-career MBA. If you’re totally stalled without the degree, you might be better served by changing fields. I met a banker who can’t rise above branch manager without the piece of paper. Will the extra money he earns post-MBA recoup the investment? Or can he find a bank who will pay for the degree?

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