Make an educated decision with these informative articles.

Financial Aid Options for Online Learners

MBA or CPA? You Do the Math

What Your Boss Thinks of Your Degree

10 Tips to Writing a Winning Résumé

Achieving a Work-Life-School Balance

What Your Boss Thinks of Your Degree
By Wendy Lalli

If your employer is like most managers, he or she regards an undergraduate or even a graduate degree as a “must have” qualification for employment. Of course, this is hardly news. After all, a college education—and often a post-graduate degree—have been viewed as mandatory for many white-collar positions for the last 40 years. Even in traditionally blue-collar trades such as plumbing and construction, continuing education is not only common but expected.

Learning Is a Prerequisite for Employment
The simple fact is, in today’s volatile economy, technology, manufacturing processes and business models are constantly changing. Employers are very aware of this fact and recognize that they’re own success depends on hiring and retaining a well-educated workforce.

If your professional goals include joining the ranks of management and you haven’t already acquired a graduate degree in business, you should certainly consider doing so. An undergraduate degree may prove you have the intellectual capacity to lead others but what you learn after you leave school—both on the job and in the classroom—can be the determining factor in whether or not you get promoted. Furthermore, your ability and willingness to expand your skill sets in order to improve your job performance marks you as a winner, whatever your field or academic credentials.

An MBA—the Gold Standard
For business managers, a Master of Business Administration (MBA) is the premiere degree in management. Peter Calladine, Educational Services Manager of the Association of MBAs, defines an MBA as “a generalist qualification designed to widen the student’s horizon in order to take account of all the major functions of a business.”

“No sector is now exempt from the influence of the MBA. Employers know the value of the qualification,” Calladine explains. “Whether a candidate studied in North America, Europe or elsewhere...such candidates are likely to be dynamic self-starters who will be an asset to any organization.”

The Value of an MBA
Although an MBA degree may be well regarded by employers worldwide, the salaries paid to degree holders differ greatly. In a recent article on Monster.com, Dona DeZube, the website’s finance careers expert, explained that the salaries paid to MBAs “depend on many variables, including which school you attend, your prior experience and whether you enroll in a full-time or part-time program.” But, in fact, there may be far more to it than that.

In his article “Does an Elite College Really Pay?” written for MSN.Money, Don Askt cites a recent study by Alan B. Krueger and Stacy B. Dale that challenges the traditional belief that an Ivy League degree is worth more than one from a less-prestigious institution. Krueger and Dale explain, “Elite colleges do not pay off in higher earnings. They only appear to do so.” Their findings suggest that while Ivy League schools certainly draw the best and brightest students, the success these scholars enjoy is due more to their own innate ability than the school’s curriculum.

Another Route to Advancement
For those who already have some business courses and want to zero in on a particular profession, a specialized master’s degree may actually be a better choice than an MBA. BusinessWeek Investor reporter Mica Schneider explores this alternative in some depth in “Who Needs a Whole MBA?” She found that these new specialty degrees are becoming more popular with B-schools, students and their employers.

For one thing, it’s easier to get into these study programs since fewer people apply for them than MBA programs. But more importantly, they serve a need that’s definitely growing. According to Dennis Mahoney, director of System Design and Management Programs at the Massachusetts Institute of Technology, “Because of the complexity of the products being developed these days, there’s a real need for people who understand both the technical and the business side of things.”

Online Versus On-Site Campus
Over the last decade or so, more and more colleges have been offering degrees via online courses, and more and more employers are accepting them. In “Who Would Hire an Online Grad?” Jennifer Mulrean cited a Sloan Consortium report showing that “more than 1.6 million people logged on to at least one online class in the fall of 2002.” Certainly that number is considerably higher now.

According to Mulrean, Evan Jacobs, marketing manager for Columbia Video Network (CVN), part of Columbia University, claims, “the degree [CVN Students] earn is identical to what the offline students are getting.” Mulrean goes on to note, “Many of the CVN students are adults with full-time jobs and…have their tuition reimbursed by their employer. …‘They have the full support of their companies,’ Jacobs says. ‘The fact that the employers are reimbursing them for their tuition is really a validation of our program and of long-distance learning.”

Get Your Boss to Buy In
Your company may be willing to assist you in your education as well. The reason is obvious: the new knowledge and skills you’re learning will enable you to be more productive on the job. At the very least, your manager should recognize and appreciate your initiative.

To make sure that your employers react as positively as possible to your plans, tell them what your intentions are before committing to a particular path. Ask your manager for feedback and advice. He or she may have some suggestions to make your studies even more productive. If management feels that your education will improve the company’s productivity, they’re more likely to reimburse all or part of your school fees. Even better, they’ll view your education—and your success—as a worthwhile investment for the company.

Wendy Lalli is a career counselor who writes frequently for the Chicago Tribune and business publications. Her advice column, “Dear Lalli” is a regular feature in the Daily Southtown and Star newspapers in Chicago. Before making a transition to a career coach three years ago, Wendy was a business-to-business copywriter for more than 15 years.

Bibliography
Schneider, M. (2002, March 25). Who Needs a Whole MBA? BusinessWeek Investor. Retrieved on December 5, 2004, from BusinessWeek online (link).
Mulrean, J. (2004, December).Who Would Hire an Online Grad? Online Degrees. Retrieved on December 5, 2004, from MSN Encarta (link).
Calladine, P. (2004, December). Why an MBA Is Important. Article Index & Course Vacancies. Retrieved on December 5, 2004, from StudyOverseas.com (link).
DeZube, D. (2004, December). The Value of an MBA. Monster Finance. Retrieved on December 5, 2004, from Monster.com (link).
Askt, D. (2004, December). Does an Elite College Really Pay? SN. Money. The Basics. Retrieved on December 5, 2004, from MSN.Com (link).