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MBA in Finance vs MBA in Information Management Systems

cunoodle2 183 178 July 6, 2016 at 07:32 AM in Finance (2)
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Me: 38 year old restaurant GM of a big fine dining restaurant. I love the job but am tired of the late evenings and the holidays. I don't want to take the next level up from where I am as it involves insane travel schedule. I've been trying to get out of it but at this time I am typecast as a restaurant/hospitality manager and have not been able to get out. I'm looking for something with a better quality of life. After doing some research I've found out that I can take an MBA for Harvard almost entirely on-line. This is going to take me at-least 2-3 years (class during day on-line work at night) and I will eventually have to move to Boston for a semester to finish the degree.

My question: What is going to give me the most job security and best quality of life? A degree in Finance or a degree in Tech? I actually have huge interests in both. With finance it is more so the real estate investing side of things. With tech its all things tech. I actually have a bachelors degree in computer science. The first bookmark Iook at almost daily is Google's tech blog.

Finance Degree [harvard.edu]
(Real Estate Certificate [harvard.edu])

Information Management Systems Degree [harvard.edu]

I feel like deep down I like tech better but have friends that work for google and they are working insane hours. Computers never sleep. The financial market is very limited hours. I've worked too many hours in my life and looking for a change.

Thoughts??

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#2
it really depends on what type of IT or Finance you get in to. I had an Accounting background but now oversee all our Accounting and Finance systems.

While I do have some nights/weekends that where I have to work the Finance guys have it every month and especially every quarter like clockwork.

As far as the markets go from a Finance point of view something is always open so the guys I know in that line of work worked a hell of a lot more hours than I ever did.

I also really question whether at your age (sorry but you're not young anymore) whether a MBA would really be worth it. I don't have one and frankly I don't need one. I have far more valuable on the job experience than I would ever get from a classroom. Some employers can recognize that while others, say McKinsey won't.

Why not try getting a job in one of the fields and see if you like it before you drop a ton of $ and time on a degree. Then if you feel the MBA would benefit you go and get it. Hell, your employer may eve pick up some of the cost!
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#3
God, I can not believe people still think IT is a good field to go in with all the outsourcing, long hours and general abuse\treat you like dirt attitude of companies. If you are worried about quality of life and long hours, IT is the WORST. And I will also point out that with outsourcing and the like, no one is going to look kindly on a 40 year old IT person right out of school with no experience. They can hire a 22 year old, pay them a relative low wage and not have to deal with high medical costs and insurance costs to say nothing of the fact that they can more easily abuse young workers into working 60+ hour weeks and weekends which is typical in the industry.

And as to job security, IT has NONE esp. in this outsource and H1b visa market. And it gets much worse when you get older and into your 50s and are making 175k plus, they will look to get rid of you and outsource your position to someone off shore making at most 1/3 of what you probably were making. I have seen this happen to a lot of people (including myself). Anyone who thinks there is no age discrimination these days is living in a fantasy world. Ask yourself how many IT folks are in their 60's...not a lot. And yes the industry is very good at making everyone think that they are elite and special and a company can never find a way to part with them because of all the knowledge and experience they have...nonsense. Most companies management do not care and will simply go with the cheapest option.

My advice, for what it is worth is stick to your current field if you are making good money. If you want to pursue a degree, then finance might be an option. IT should be avoided like the plague.
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#4
finance. if you can get the right gig.

i have friends who work private banks that due to commercial loans that make 200k and work 50 hours a week or so.

i have other friends in finance that work bankers hours. 9-4; holidays off; weekends off. make 60k. nice life balance.

it just depends what you want. finance seems more flexible and more money then tech
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#5
I actully love my current job and the pay is good (low $130k + benefits). It's all in the hours that I don't care for (nights, holidays and weekends). I have a meeting with a very big venture capitalist in 2 weeks and I'm going to discuss options with him and see what advice he has.... if degree is worth it etc...

Any other insight would be greatly appreciated
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#6
Well if you are going into IT the only field that is really growing is information security and you need to get your CISSP take courses that will get you the training to pass that and get your CISCO certification too. You really can't outsource computer security. The other thing would be to become a very good programmer and work on government contracts which require people to be US citizens.
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#7
you state "My question: What is going to give me the most job security and best quality of life?"

i dont think any job out there is secure.
Financial filed have lot more business opportunities for you which more secure than a job. Good luck!!!!!
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#8
I think it is better to acquire some IT skills somewhere for free (google - course central). It will help somehow or somewhere.
Every job has its bad points.

I don't think going to work in IT is a good idea in general unless you have incredible/.extraordinary talent. Besides security and certain things, a lot of things are outsourced. Don't be fooled by those high salaries in San Francisco and elsewhere.

Many companies in different areas other than IT are trying to reap savings from these H1B visas . Nursing is not safe. I audited a few hospitals and have noted a significant numbers of nurses with these visas. When I graduated, I thought accounting was a safe option. Oh Boy was I really wrong. I have all these H1B visas after the same job as me. The media always makes it a big deal that companies can't find qualified workers to do the job. In the long run, it is a negative sum game for all us. Training and education costs money and time for everyone. We will all get old.
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#9
Are you sure Harvard will accept you? I'd go finance over tech due to outsourcing cheap labor in other countries. You can outsource people for $5 an hour out of India and Phillipines
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#10
Quote from 8mpg View Post :
Are you sure Harvard will accept you? I'd go finance over tech due to outsourcing cheap labor in other countries. You can outsource people for $5 an hour out of India and Phillipines
So I've started the program (chose finance) and will update this thread periodically. So anyone can actually take classes at Harvard through their extension School. If you get a B average in the first two classes you are automatically accepted into the master's program. As part of the finance master's program I do have to take the last four classes on the Harvard campus. The online classes are $2,500/each so it's a gamble. I'm just taking one right now to get my feet wet and slowly get back into it. This will be a multi year project. I just eventually want out of restaurants.
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#11
I am writing this so you are clear on what you are getting.

You are taking coursework that will get you a Master of Liberal Arts in Finance. It will officially be listed as the following on your resume:

Harvard University degree: Master of Liberal Arts (ALM) in extension studies, field: Finance.

I don't want to downplay what you are doing. I just want you to know that once you compete your studies you will have access to the alumni network amongst the university at large. You will not be considered an alumnus of Harvard Business School. That is the school that grants the MBA.

Best of luck with your studies. This sounds like a wonderful next step in your career. With the right effort you can leverage this opportunity and earn a bright future.
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Last edited by jhawkjason September 15, 2016 at 08:01 PM
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#12
Quote from jhawkjason View Post :
I am writing this so you are clear on what you are getting.

You are taking coursework that will get you a Master of Liberal Arts in Finance. It will officially be listed as the following on your resume:

Harvard University degree: Master of Liberal Arts (ALM) in extension studies, field: Finance.

I don't want to downplay what you are doing. I just want you to know that once you compete your studies you will have access to the alumni network amongst the university at large. You will not be considered an alumnus of Harvard Business School. That is the school that grants the MBA.

Best of luck with your studies. This sounds like a wonderful next step in your career. With the right effort you can leverage this opportunity and earn a bright future.
Can you please elaborate on the official listing of the degree? I was under the impression that it was going to be the exact same degree? I do have to attend some classes on Harvard campus. This is not a 100% all on-line degree. Also, can you please clarify the source of your info? Thank you again.
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#13
Quote from cunoodle2 View Post :
Can you please elaborate on the official listing of the degree? I was under the impression that it was going to be the exact same degree? I do have to attend some classes on Harvard campus. This is not a 100% all on-line degree. Also, can you please clarify the source of your info? Thank you again.
I know nothing about Harvard's MBA program so I'm guessing his assumption was this?

http://www.extension.harvard.edu/...te-degrees
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#14
Quote from cunoodle2 View Post :
Can you please elaborate on the official listing of the degree? I was under the impression that it was going to be the exact same degree? I do have to attend some classes on Harvard campus. This is not a 100% all on-line degree. Also, can you please clarify the source of your info? Thank you again.
The extension school is NOT the same as the Harvard business school. A liberal arts degree is not the same as a MBA. This program has limited value IMO so make sure it actually does align with your goals.

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