Saturday, March 22, 2014

Talk about Opportunity Cost: Why I am Considering Attending a California State University

I attended a low ranking school for my undergraduate education, yet I intend to go to a low ranking school for my graduate degree as well. Why would I do this? I currently manage a small division of a nonprofit organization that provides educational services, such as after school programs, for youth. I have this job because I do everything I can to be good at it, and I am willing to learn - not because I am qualified. My position usually requires a master’s degree in business or education, and I have neither.

I seem to have hit a wall. Even if I perform at my best, it is not likely I will make the jump from mid-level management to an executive position in this or any other organization without additional education and training. so I do need to think about what is next. My goal is to run my own business or obtain a position of significant influence in an existing business. Here’s my resume in brief:
     A useless bachelor’s degree.
     Experience in nonprofit and business management, and a passion for efficiency.
     Just enough of an understanding of educational theory to be dangerous.
     A passion for leading, developing, and caring for people.
     An ability to learn from my mistakes.
     Grit.

In order to make it over this wall I need to obtain a Masters in Business Administration. Every job that has piqued my interest in the past year has required this. Only here’s the rub, I know just enough about education to know that business schools don’t provide an education. They provide an alumni network. I suppose in addition to that the best of them provide a lot of the information that is foundational to success in business, but I believe a driven person can find that information if they know where to look. Since I have a completely useless BA, I have learned how to teach myself that which I need to know to be successful.

So in choosing a business school, what should I look for?
     Should I prioritize the actual content of the instruction? - It sure would be easier than figuring it out myself. Then again, I took three years of Spanish and didn’t learn much of the language until I spent three months in Mexico. Everything I know about how to do my current job I learned on the job. This will be true at my next job too.
     Should I focus on the reputation of the school? - Surely Harvard grads go farther, but are they better employees? I would think Ivy League grads are impressive before they even get in. Are Harvard and Stanford turning out successful people or only accepting successful people? I am not well known by influential, rich, or important people, but the reputation I do have has been earned. This is true for all of us. You cannot buy a reputation.
     How important is the alumni network? - I suppose knowing the right people is powerful, but is it worth a $200,000 degree? What about $100,000? $50,000? I suppose you can buy your network, but eventually the reputation you earn will show its face. I intend to focus on who I am, not who I know.
     Full time or part time? - I know full time might be faster, but how can I afford two years out of the work force? I have a baby on the way. I can’t imagine paying $50,000 for school and giving up two years of salary right now for the possibility of a higher salary later. It seems the greatest cost of college is the opportunity cost, not the tuition.
     Online or On Campus? - My priority is my family. My wife of three years so far is pregnant with our first child. Every second I spend in night classes or at work is spent away from them. Talk about opportunity cost.

I am a resident of California and I can attend a State school for as little as $15,000… Total. I can attend online and spend more time at home with my family. I will walk away with an MBA. This degree would help me be qualified for the career I would like to have. I will not come out of this school knowing many important business contacts, but I will be able to continue to support my family while I attend. I may not receive the quality education that I might at an Ivy League school, but Ivy League students aren’t paying for the education, they are paying for the reputation. I am not settling. I am doing this myself. I am pulling myself up by my bootstraps. I am figuring it out as I go. I may not be making the right decision, but I have made my decision and I am going to move forward and take responsibility for my own learning. I am an example to my son.

Son,
No one is going to hand you anything; you have to work for it.
You cannot pay your way out of problems.
Care for people and others will care for you.
Give your best and never make excuses.
Take responsibility.

If I prioritize the prestige of my degree above my family, or did anything other than take responsibility for my own learning I would not be the example my son needs. Talk about opportunity cost….



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