Furthering Education

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Feb 15, 2007 3:21 pm

I am about to Start at Smith Barney and was wondering if it is possible, or just a stupid thought, to pursue further education? Would it be possible to successfully build a practice and maintain getting an MBA at the same time?



If not at the beginning, could this be done after the initial survival period?



Feb 15, 2007 4:23 pm

If not at the beginning, could this be done after the initial survival period?


You have good instincts! Just focus on survivial, now - it will require all of your talent and energy. As you start this career, why do you want an MBA?

Feb 15, 2007 5:06 pm

If this is your career of choice, I think a CFP will do you more good than an MBA.  An MBA is not something that clients and prospects will screen for, but the CFP sure is.

Feb 19, 2007 3:53 pm

Having an MBA could potentially appeal to some investors, but mainly it is for personal integrity and to set an example and standard in my family.



sappy, I know.

Feb 19, 2007 4:11 pm

Education is a great standard - more important in some cultures than others.


But there is nothing worse than a "wasted" MBA. Making the investment, and not using it, would be a bad example, in my family.


You might have more integrity without it. ( For example, you could take the time and money and invest in golf. What you learn about yourself and others might be or comparatively more valuable).


Maybe I'm just sour grapes, since I don't have one.

Feb 19, 2007 8:55 pm

It is unrealistic to plan around completing the training program at a wirehouse and obtain a graduate degree at the same time. You should realistically expect to be working (soliciting clients, networking, learning the ropes, etc) 60-80 hours a week through this period.


If it is something that you really have your heart set on, then I would plan to get the degree after you've built a sustainable practice and you have sufficient referrals coming in that you can slack off without getting fired. Think $400k in production...


The value of an MBA, from a business development standpoint, only applies when the school is a fairly impressive name. Think Harvard, Wharton, Stanford. If it isn't in the top 20 of the US News rankings, then what you're paying for is the education - not the prestige. And there may be better ways to get the education that aren't so hard on your pocketbook or your business.


Just my thoughts... Take them for what they're worth...

Feb 19, 2007 11:48 pm
awesome:

I am about to Start at Smith Barney and was wondering if it is possible, or just a stupid thought, to pursue further education? Would it be possible to successfully build a practice and maintain getting an MBA at the same time?



If not at the beginning, could this be done after the initial survival period?




It would be advisable to put it off for 2-3 years until you have your feet under you.....