MBA Update
I’m just past the half way point in both my current course and in the 4 year, part-time, distance, MBA program that I’ve been taking through Colorado State University.
Is it a good program? I’d say that it’s all that I need but, then again, it’s all that I know when it comes to MBAs. My other graduate degree is theological in nature, an M.Div that I completed at a large, Baptist school in the early 90s. In comparison, I do miss the face to face interaction of the classroom but the tradeoff, for the sake of time and convenience, is worth it to me right now.
Colorado State’s program is based on a web client for class interaction, submission of assignments, exams, and distribution of materials as well as a textbook and a weekly DVD recording of the most recent class. DVDs arrive within five days of the class for distance students but distance assignments are due a week later than for on campus students.
Is it credible? While not a top 25 school, Colorado State is a major, top tier, research university and the program is AACSB accredited. For someone seeking either personal growth or advancement within their field, it’s perfect!
Lessons from a Hedge Fund
Amaranth hedge fund participants lost half of their money as the fund suffered the losses from several bad bets, $5 billion in the last week alone. Analysts suggest that Amaranth was overly dependent on bets on natural gas and on one trader in particular, 32 year old Brian Hunter of Calgary, Alberta. Analysts further suggest that Hunter illustrates the problem of over dependence on debt by hedge funds, estimating that Hunter had to borrow $8.00 for every $1.00 of funds in order to cover his positions.
Broader diversification within the fund would have mitigated losses, though at the expense of the better than 20% returns that the fund had been enjoying. Still, the staggering losses of the past month underscore the value of the diversity principle, that the standard deviation of a portfolio is less than the weighted average of the individual components.
Name Change — this blog only!
I’ve changed the name of this blog to both broaden the content area and to establish a point of view.
Business School Applicants, MBA Grad Salaries, MBA Demand: all Up
The Albany Business Review reported that “A down economy hit U.S MBA programs hard, but schools across the country are now reporting a surge in interest from both students and employers.
The New Mexico Business Times found that the University of New Mexico’s Anderson Schools of Management has seen a 33 percent jump in the number of applicants for its master’s of business administration. The Charlotte Business Journal notes the University of North Carolina at Charlotte has seen a 30 percent increase in applications.
And most schools says they’ve seen a big increase in recruiters on campus. The Portland Business Journal reports that the University of Washington said MBA recruiting doubled from 2005 to 2006. The National Association of Colleges and Employers says MBAs are among the job market’s hottest prospects, with starting annual salaries as high as $120,000.
Schools competing for MBA students are also increasing the options available, from part-time and executive MBA programs to increased specialization, the Portland Business Journal continues. At the same time, though, fewer employers are picking up the tab, the Charlotte Business Journal says. While 55% of executive MBA students had full employer sponsorship in 2000, only 45% did in 2004, according to the Executive MBA Council.”
In a Wall Street Journal article from 06/28, columnist, Emily Meehan writes about twenty-somethings who log 80 hr work weeks in the hope of getting ahead. (see “Logging in Long Hours in a Bid to get Ahead“) One of them, 26 year old Martin Keck, has ditched his $125,000/yr day job to return to business school at Dartmouth. He sees the opportunity as one to pause, reflect and acquire skills for the next step. He doesn’t deny that life after Business School will be just as busy as before but he hopes to pick it up again at a senior level.
For the past couple of years the decisive verdict (much like immediately prior to the dot com bust), was, “who needs it? With the economy slowing and credentials in demand the market for sheepskin is on the uptick.
Personal MBA - “Is it all about the books?”
If you can’t afford to devote one to two full time years to graduate business study, can you get the equivalent by reading the books? The central thesis of the PMBA concept is that you can come close.
While you won’t derive the equivalent by reading alone, and while you won’t actually read all of the books that you might encounter in a traditional MBA, and while you won’t benefit from the lecture and team-based project components, you will absorb a lot of the content. The reading program has the potential to extend your leadership potential and familiarize you with core concepts.
One of the books, “How to Read a Financial Report” by John Tracy provides a startlingly clear “dummies” guide to wading through financial reports. This is useful. It is less than comprehensive however, the natural shortcoming of a primer.
Josh Kaufmann lists several PMBA resources on his site with extensive discussion. There is also a PMBA site for participants to gather and discuss individual books. Well worth a serious look if you are interested in business concepts and in acquiring new skills and insights.
Introduction
My name is Eric Back. I’m a registered nurse, currently working on an MBA through Colorado State University. The CSU program is either part-time, evening or distance. Both groups work together as teams in given courses. The degree is 36 credits and may be completed in either 2 or 4 years. This blog is about business and business-related issues. If I digress into other areas please indulge me; if I’m off-base on a point please correct me. If I can answer a question please email me (ericback@gmail.com).