Continuing Your Education Is It Worth the Investment?

Transcription

1 SPONSORED SECTION EXECUTIVE EDUCATION Continuing Your Education Is It Worth the Investment? What options may be right for you? By Stacy Blackman

2 YOU UNDERSTAND DEDICATION, YOU KNOW THE VALUE OF HARD WORK, AND YOU NEVER BACK DOWN FROM A CHALLENGE. YOU VE GOT THIS. Earn your bachelor s or master s degree in teaching, IT, business or healthcare (including nursing) on terms that fit your busy life. With tuition of about $6,000 per year that hasn t been raised since 2008, it s more affordable than you think. We re online, accredited, and we re seeking students who are driven to succeed. washington.wgu.edu/seattlebj S#

3 Get ahead by going back to school. Advance your career with the #1 Executive MBA in the Northwest. If you aspire to new career heights, then it s time to discover what many Northwest business leaders already know: The UW Foster Executive MBA provides the prestige, credibility, experience and alumni connections to help you take your career to the next level. Whether you lead now or aspire to, now s the time to increase your skills by going back to school. Learn more at foster.washington.edu/emba

4 SPONSORED SECTION EXECUTIVE EDUCATION You ve found that dream company or maybe not. Maybe you re happy, but you feel like you could be doing more. At some point, all professionals consider making an investment to further their skills. But at the same time, everyone wonders will it be worth it? First, ask yourself these questions: Have I gained enough experience in my preferred area? Am I curious about other sectors to which I ve not had exposure yet? Is there any specific knowledge I feel I m lacking? Am I part of a solid professional network? Have the most respected professionals I know furthered their education? Then, familiarize yourself with the various types of further education available: MBA, EMBA and continuing education Let s begin by discussing MBA s. An MBA is a master s degree in business administration and it typically takes two academic years to achieve. Along with taking the GMAT the 34

5 Graduate Management Admission Test and submitting a full application with references and essays, students are encouraged to enter the program with a bit of real business world experience under their belts, as a basic knowledge of the current terrain will help them focus on areas where they feel they need the most training, be it finance, marketing, human resources, etc. Students can then augment their real-world training with the skills and knowledge of business divisions to which they have not yet had substantial exposure. This previous experience also enables them to better contribute to classroom discussion, creating an environment in which every student is also something of a teacher. At the program s completion, students will be prepared for high-level business opportunities not just because of their 35

6 SCHOOLS Washington colleges offering continuing education for executives. Argosy University argosy.edu Bellevue College bellevuecollege.edu City University city.edu Central Washington University cwu.edu DeVry University devry.edu Corporate Training Your Way We ve trained over 30,000 managers in leadership, professional, communications and technical skills. Customized to your business objectives. At your site, at ours, or online; your choice. Proven facilitators with specific industry experience. Measurable results. Call us to find out more. C ONTIN UING EDUCATION Business Training Institute [email protected] gotobcc.com/bti We develop talent to drive business results. Eastern Washington University ewu.edu The Evergreen State College evergreen.edu Gonzaga University gonzaga.edu Northeastern University northeastern.edu Northwest University northwestu.edu Pacific Lutheran Universtiy plu.edu Saint Martin s University stmartin.edu Seattle Colleges seattlecolleges.edu Seattle Pacific University spu.edu Seattle University seattleu.edu University of Phoenix phoenix.edu University of Washington washington.edu Washington Governors University washingon.wgu.edu Washington State University wsu.edu Western Washington University wwu.edu Whitworth University whitworth.edu 36

7 SPONSORED SECTION EXECUTIVE EDUCATION new degrees and education, but also because of that all-important cornerstone of every successful business school: its network. As we all know, the right connections can be priceless. Speaking of prices, US News & World Report states that in 2013, the average cost for a two-year MBA program at the country s top 10 business schools was $111,418. Some of that cost goes to room and board, which can be mitigated if one were to take advantage of the online programs many schools have begun offering, though a strong consideration there is the lack of networking and faceto-face interaction with others, as well as pedigree and reputation. To get the most out of your MBA experience, it is important to choose the program that is the best fit for your goals, personality, budget and lifestyle. Full-Time MBA This is the typical and most common MBA program, taking two full academic years with semester and summer To get the most out of your MBA experience, it is important to choose the program that is the best fit for your goals, personality, budget and lifestyle. breaks in between. The student is able to work full time at a summer internship in between first and second years. This internship is often valuable in helping the student gain experience for a fulltime role after graduation. Accelerated MBA Just as it sounds, this is a concentrated get-it-done program of classes, with minimum breaks between semesters and no summer recess. It takes less than two years to complete, but the result is the same. It is a program designed for those who are interested in obtaining their degrees as quickly as possible, and it requires a student s full attention. Frequently, these accelerated options are available only to students who pursued a business degree in undergrad as well. Part-Time MBA This program is for working professionals or others who do not have their days free for school. Classes are 37

8 HIS STARTUP GOT ITS START AT NU. Nathanael Nienaber managed distribution for Georgia Pacific. One day, it dawned on him: what if there was a way to quickly match an empty truck with someone nearby who needed to make a delivery? Nathanael took the idea to his MBA class and was encouraged to pursue it. His concept, Ghostruck, was eventually chosen as a finalist at the prestigious Startup Weekend in Seattle. The MBA classes really helped me through each phase of the startup process. From project management to leadership classes, I wouldn t be where I am today without them. MASTER OF BUSINESS ADMINISTRATION (MBA) At our Kirkland campus or online. HOW CAN NU HELP YOU PURSUE YOUR DREAMS? Visit: northwestu.edu/business

9 SPONSORED SECTION EXECUTIVE EDUCATION held at night or on weekends and the courses are spread out more, stretching the program to three years. Modular MBA This is much like the part-time MBA, only the curriculum is a bit more regimented, with specific classes packaged together in blocks. Executive MBA (EMBA) Also like the part-time MBA, this program is characterized by classes at night and on weekends, but the difference is that the EMBA is for professionals with at least five years work experience, oftentimes many more. Most programs will waive the GMAT requirement, as applicants will be considered based on professional status. Students are expected to continue holding their jobs as they go through the program, which is designed to meet the needs of upper-level managers. The cost is typically just a bit higher than a regular MBA, but students who complete the program are so well equipped to handle upper-management duties that it is quite common for employers to subsidize the tuition. What About Continuing Education? Of course, it is also possible to further one s learning in specific areas such as finance or marketing by taking single courses or a set number to achieve a certain credential such as a CPA (certified public accountant) or a CFA (chartered financial analyst). These are less expensive programs than MBA s but also much more narrowly focused. This is the perfect route for those who know exactly the credential they want or who simply want to bolster their knowledge in a certain area. There are three basic types of continuing education programs: Continuing Education Unit (CEU) Programs These are very specific courses aimed at specific professionals such as doctors and nurses. As certain professional fields evolve, workers in those fields may be required to take new CEU courses every year or so. Ask your employer about sponsorship in an MBA program. Some do sponsor MBA students and some don t, but there s only one way to find out. Degree/Certificate Programs These courses provide credits that can be accumulated and used to earn a degree or a certification. Non-Credit Programs Not as formal as the other types, these courses are designed to further your knowledge on a specific subject, with no credits or units earned. With these options and more available to you, it is easier than ever to further your education by mapping out the road that best suits you. So back to our original question: Is it worth it? The answer is not black and white. It really depends on your ultimate professional goal. This decision cannot be made on a whim, nor can it be decided after putting fist to forehead for a few hours. No, this topic requires research. If you dream of being high-level management in a certain company, look closely at that company and read up on their leaders. Did they get MBA s? Call a recruiter at that company and ask if it has a strong position on MBA s, whether they are preferred or, quite possibly, necessary. If you re already working at a company and have aspirations to rise up in the ranks, investigate the lay of the land in those upper echelons and if MBA s played a role in any of the executives paths. Follow the patterns. Ask your employer about sponsorship in an MBA program. Some do sponsor MBA students and some don t, but there s only one way to find out. Chances are your employer will respect you even more once it s known you are considering an MBA. It says that you are serious about your own career path. Can you write off your MBA tuition with the Internal Revenue Service? That s a tricky one. While it is possible, the IRS has been known to look closely at tuition deductions and to judge them harshly. The general rule is that the IRS likes to see professional consistency. If you have been working in a field for a number of years and you proceed to get further education in that field, you may be able to write off the tuition. Likewise, if your employer insists you obtain an MBA, the tuition deduction will be allowed. Is it worth the investment? Only you can finish this article with an honest assessment of what advanced education will mean for your career, and whether the expected return on your investment is reasonable. Founded in 2001, Stacy Blackman Consulting (Stacy Blackman.com) has helped thousands of MBA applicants gain admission to the most selective business schools in the world. The Stacy Blackman team, composed of MBA graduates, former admissions officers and expert writers, editors and marketers, helps clients develop and implement a winning marketing strategy. Stacy Blackman clients have a significantly increased probability of admission to top schools and are frequent recipients of merit scholarships. The company is regularly featured in publications such as BusinessWeek, The Wall Street Journal and The Economist. 39

10 The Spirit of Hire Education The Seattle Colleges continue to be the place where students prepare for careers and employers find graduates who are ready to work. We offer certificates and degrees in career fields from culinary arts to welding, from nursing to real estate, from aviation to information technology, and so much more. Our colleges have several Bachelor of Applied Science degree programs in the region s fastest-growing industries: Allied Health at Central Application Development at North Applied Behavioral Science at Central Hospitality Management at South International Business at North Professional Technical Teacher Education at South Sustainable Building Science Technology at South SeattleColleges.edu/bachelors/

11 SPONSORED SECTION EXECUTIVE EDUCATION WSU College of Business Washington State University s online MBA and Executive MBA programs are specifically designed for successful mid-career professionals seeking a convenient, high-quality and relevant educational opportunity that will advance their careers. Taught by world-class faculty, WSU s programs meet the highest standards of business education and provide a personal, hands-on and interactive learning experience. Students in our business programs examine real-world scenarios, garner business insights and create actionable solutions. David A. Whidbee Interim Dean, Washington State University College of Business business.wsu.edu WGU Washington WGU Washington s model is unique. We re competency based, which means student success is measured by knowledge and skills gained, not by time spent in a classroom. An added benefit of that approach is it allows students to work at their own pace and, in many cases, graduate sooner. It also ensures they graduate ready to contribute at a higher level in their chosen fields. Jean Floten Chancellor, WGU Washington washington.wgu.edu QUOTABLES UW Foster School of Business There are many ways to attain your MBA credentials, but the true value of the degree goes well beyond the letters on your resume. At the Foster School of Business, our faculty, students, facilities, rankings and alumni set us apart. Nationally ranked and globally recognized, we offer a range of MBA options that don t compromise when it comes to rigor and relevance. We invite you to examine your options and learn more about the ROI of a Foster MBA. foster.washington.edu/emba Northwest University MBA Students choose Northwest University s MBA primarily because of our collaborative learning environment and the convenience of taking just one class at a time, one night a week, and yet still finishing in two years. Our program provides even more convenience now that we also offer an online MBA. Students appreciate our cohort learning model for its support and openness as classmates encourage and challenge each other. Beth Boyd Project Coordinator Marketing, Northwest University northwestu.edu/business/mba Seattle Colleges Seattle is one of the great small cities of the world. It has world-leading companies anchoring our regional economy and a distinctive and diverse environment. But the most critical driver of long-term competitiveness is human talent. That s where careerbased education at Seattle Colleges comes in. We are developing that human talent. ~Kurt Buttleman Vice Chancellor for Finance & Technology, Seattle Colleges seattlecolleges.edu/enrollnow Seattle Pacific University s School of Business and Economics Seattle Pacific University s School of Business and Economics is known for its academic quality, outstanding faculty, small class sizes and a faithbased commitment to ethics. Students can choose from an MBA, an MS in Information Systems Management or an MA in Management. Our nationally ranked, AACSB-accredited graduate business programs are designed for the working professional, giving you the flexible scheduling options you need to advance your career while managing your busy life. What truly sets us apart is our core belief that the highest purpose of business is to serve customers, employees and communities. Joseph Williams, MBA, Ph.D. Dean, Seattle Pacific University School of Business and Economics spu.edu/academics/ school-of-business-and-economics 40

12 What if Business could be a force for good? In the School of Business and Economics at SEATTLE PACIFIC UNIVERSITY, we believe the purpose of business is more than just maximizing shareholder value. We believe it s creating good products and jobs that people need while being a responsible contributor to society. It means serving customers, employees, and communities. It s business you can believe in and it s our bottom line. Our nationally ranked, AACSB-accredited graduate business school is deeply connected to the business community. Here, we offer all students mentorship opportunities from some of Seattle s top industry executives. Designed for the working professional, our programs also give you the flexible scheduling options you need to manage your busy life while you advance your career and make a difference in the world. CHOOSE FROM: Business Administration (MBA) Information Systems Management (MS) Management (MA) Human Resources Social and Sustainable Management Faith and Business CERTIFICATES: Faith and Business spu.edu/graduate Data Analytics