Choose your own adventure! JESDA EDITION

[Jesda]

After graduating and catching up on your back issues of Bacon Aficionado Weekly and The Pants Report, you find yourself with nothing to do.

Do you:

1. Go to medical or dental school -- 3 years premed, then 4 years med school, and finally 4 years residency.
The good: Parents pay for the bulk of it [really, all of it] including living costs. Stable with the promise of a respectable income and some prestige. Lots of business opportunities within medicine. My interest in medicine is slight, but it could be due to a lack of exposure. Its a huge time investment, but I dont want a family so maybe I'm suited for it. As for dental school, I have a weird obsession with teeth. Almost every girl I've dated has received a Sonicare brush as a gift at some point [lol].
The bad: Crappy time to get into medicine. Huge investment of years of my life. Growing liabilities and fewer rewards for new doctors. Americans have a sense of entitlement and treat their docs like crap. Some young doctors I know have regrets about choosing their profession. If I was really interested in healthcare, wouldn't I have done something about it by now?

2. Get an MBA -- 2-3 years, then find work somewhere in the auto industry, in some managerial capacity. Would put an emphasis on economics and continue to study music on the side.
The good: I love the car business more than I love cars. I follow it obsessively. I've never been into motorsports or modifications, but I love automotive history, management studies, and watching global trends.
The bad: What a horribly unstable business to be in. Unemployment in the auto sector is HIGH.

3. Start another small business. Because, why not? If I'm successful at my next venture it would be the shortest route to the income level I want. It could also be a disaster, but I operate very conservatively and avoid liabilities.
The good: Ongoing freedom and independence. I'm genuinely privileged right now with the time and control I have over my life.
The bad: Sometimes I miss working as part of a bigger picture. There's risk involved. Not every business guarantees personal freedom. Some are more time consuming than full time jobs. I'm also short on ideas.

4. Get an MHA -- 2-3 years, become a hospital or insurance administrator.
The good: Get involved in medicine without having to deal with ungrateful patients. Pays well. Takes advantage of my existing business education.
The bad: Few opportunities to be completely independent, always working for a large organization.


I've ruled out law school. As time went on, the profession only got worse. Lawyers are d!ck, the hours are hell, and the competition is brutal.

[Razi]

I chose choice 2, but what do I know!

Good call on not becoming a lawyer.

What do lawyers and sperm have in common?
One in a million have a chance of becoming a human being.

[Dattebayo]

You forgot the "learn an instrument and become a rockstar" option.

[Jesda]

I'm too old to try out for American Idol. X-Factor is coming to the US though and they have a 28+ category.

[Dattebayo]

I don't view voice as an instrument tho, because it can't be fixed if it gets messed up.

Learn the pan flute, join with Swedish band, profit?

[nissangirl74]

Eliminate #1 - that is obviously your parent's dream, not your own. The free education is not worth it if it's not for something you want. It's like someone going out and buying you a brand new Chevy Aveo. It might be free, but you sure as hell don't want it.

#2 is my pick. Get the MBA. The car business will come back. Use your resources here and on your other forums to get your foot in the door and get involved in something you love. The instability will pass. The powers that be will be more selective and that's fine if you are in the smart group - and YOU ARE in that group.

#3 - If the business you have is profitable enough to suit your needs, stick with it. Use the flexibility it offers you to do some more self-discovery. Find what you are really passionate about and throw yourself into it completely. It's OK if it takes time to figure out what that something is, as long as you have a way to support yourself in the interim, which you do.

#4 - would drive you absolutely f*** bat s*** insane. There is nothing creative, innovative, or stimulating about either of those options. AT ALL. the money wouldn't be wroth it.


Just my .02, hope it helps.

[AZhitman]

My take is a little different:

Do 3 and 4 simultaneously.

If 4 sucks, it's motivation to hammer on 3. The beautiful thing about entrepreneurship is that every morning, you wake up unemployed. If you can hold down a stable, non-taxing gig that provides health insurance and a small retirement, you're free to go apes*** on a personal business venture.

[RCA]

I voted for you to fix Detroit.

It's the most entertaining option.

[Jesda]

On your way to Michigan, you have a flat tire. While digging through the trunk for your spare, a bear emerges from the woods, growling at you angrily. Her cubs are nearby. You are driving a Swedish convertible which doesn't offer a whole lot of protection from bear claws, and the top is currently down. What do you do?

-- Jump in the car, put up the roof, hope it closes and latches in time, and say a prayer. -- Turn to page 35.

-- Fight the bear with the tire iron in your hand. -- Turn to page 130.

-- Cheat and bookmark the page you're on so you can go back if a bad choice gets you killed.

[Razi]

UHHHHHHHHHHHHHHH
USE CHARMANDER.

[Amays U G37S]

1) Open a non-profit organization (church)
2) Build a church (tax payer money)
3) Become an educator (pastor)
4) Build a house with more tax payer money (4000sq ft.)
5) Buy phat caddies
6) Preach about - - - - - - - - - - Henry Winkler.
7) Make millions (profit)

Oh, and I thought I was reading a book about your fantansies. Where is the part where I turn to, to read about your hot make-out session with Megan Fox.

[frapjap]

Id say MHA. Pays big, weekends won't be tied up as often as if you were a doctor. It'll give you the sense of managing, following trends, and studying that you enjoy. Plus, after you graduate there is a job in that position ready for you to fill. Its the most stable and leave you with the most free time, cash flow, and long term employment.
My second suggestion would be MBA, but I put MHA above it because even with an MBA, the automotive field- like you mentioned- may not have recovered just yet. Sure it will eventually, but you could find yourself taking a lesser job, lesser pay, lesser benefits, etc just to be employed within the field that you enjoy for a longer period of time than you would have liked. Then some new schmuck with daddy's company will take your place.

[MinisterofDOOM]

My dream job (short of stuff that involves spacefaring and other planets) is #3 and #4 combined. Start your own auto business. Something exotic that transcends both economic woes and the instability of the auto industry. Everyone wants a Ferrari, and that hasn't changed.

Start the next Koenigsegg.

Or, perhaps more realistically, start an auto shop. The auto industry falling apart just means more job security there. Cater to car-guys and let them be involved with repairs. Let them on the shop floor, be willing to install parts purchased elsewhere. The world needs good auto shops. And good auto shops need owners. Own one.

[Jesda]

I sort of kind of want to open a Subway.

[MinisterofDOOM]

Hire attractive brunettes. I'll fly out to eat there.

[Amays U G37S]

I've heard from a person that has been in the auto sales industry for over 30 years say to me that:

"Any independant shop that does automobile repair work, will have to upgrade their tools to something more computerized within the next 5 years, substancially."

Meaning that, if you own an independant shop, you will have to upgrade to computerized tools on a large scale, because of the next generation of automobiles and the computerized components they are using today. Most of these independant shops that have been around for decades do not have the tools that are required to work on most domestics and imports.

He said, she said, s***. Never know, but this guy knows his stuff. I believe him 100%. I mean his last name is, Gurly.

Jesda, come open a subway across from my store. I needs it!!!!! I NEEDS ITTT JESSADAAAADSSSSSS I NEEDEEDDSSSS ITTTTTT... mmmm spicy italians.... mmmmmm

[Eikon]

I'll offer some advice on the MBA thing.. Great idea to get the education, you can't go wrong with an MBA degree.. but it won't get you a job unless it's partnered with specific skills. The auto industry doesn't hire random people who have a passion for the auto industry. They hire people with specific job skills like ERP, logistics, accounting, engineering, etc... Even the general management and project management staff winds up needing to have engineering or logistics backgrounds. They may not really need those skills do the job, but if HR has a choice between two MBA's and one has an undergrad in engineering, guess who they pick.

Basically what I'm finding is that an MBA is a great way to improve yourself and prepare you to be successful in business. But, it won't guarantee you a job unless you already have the background and skills for specific part of business.

My recommendation.. Get the MBA and start another business at the same time. You will get a ton out of your education because you'll be applying it to your own business. When your done, if the business was successful, stick with it, apply your education and keep it up. If it doesn't live up to your expectations, follow your dream and hope for a job in Detroit (if you can stand living in the pits of hell of course).


My plan.. I'll have my MBA complete in May.. I've already applied for Nissan's MBA development rotational leadership program. I doubt they'll hire me, but it's worth a try.

[Jesda]

I might be the only person outside of Detroit who likes Detroit.

[sultan]

#3 + run for mayor of detroit?

[sbird1]

I voted MBA. I just graduated on Friday with my Economics degree. I'm going straight into the job market though. No MBA for me. I voted MBA because that's what I would want to do most in the list except for maybe opening a business. Opening a business seems freeing.

When you open a business, the hours you put in somehow seem less... important. It's more of what you WANT to do instead of what you HAVE to do. But yeah, MBA or new business.

[elwesso]

My aunt currently works for the MBA department for UNC. She was the VP of HR for a huge company (DFS), and retired about 8 years ago I think...

I asked her about the value of an MBA. Especially now due to a rough job market more people are going back for an MBA.. Many times now it depends on where you go to get more credibility, since many people are now getting MBA's.

I would think it might be a wiser decision to try heavily to get into the automotive field and then go for an MBA once you're already in the door.. Not to mention you would either be making money AND maybe you could get the company to pay for your schooling, either in part or in full.

Everyone in my family owns their own business, my mom's side with our marina, and my dads side with his medical practice.. I'm one of the first to actually work for a company (and own a foreign car for that matter).. There are many benefits that seem nice about owning your own business, and there are many downsides. Insurance is KILLER, a single or small health insurance plan is crazy expensive.

[HashiriyaS14]

MBA, but only a good one (top 25 or nothing).

Then do whatever. If auto industry doesn't work out, then do something else, or start a business, or whatever. MBAs help with everything, a top-25 MBA is largely a networking exercise anyway.

Hell, come to DC and get it at Georgetown. Go part-time and work for the IMF or something in the meantime. It's fun shxt, and I know where all the good restaurants are.

[Eikon]

You are right that the top-25 MBA schools are largely about prestige and networking, but I still don't think they are worth the $100k+ that they cost for the tuition for a 2 year period. Unless you live in one of the few states that have a highly ranked public school... Otherwise, save the big money and get the MBA at a local school.

My MBA will cost about $20k in tuition for my three regular semesters and one summer session. I just don't see the other schools being worth 5x the future earnings. Certainly Harvard would get me more money and a better job.. but 5x??? (Not that I would have gotten into Harvard even if I had tried)

[HashiriyaS14]

^^
WAT? $100k?

Maybe if you go full time?

I'm paying like $1200/credit hour and I'll only have paid about $35k TOTAL for a 3-year part-time program at GW.

Going full time is much more expensive because you can't work and you're generally borrowing for room & board and living expenses. I ONLY pay tuition, nothing else.

It's quite possible that I'll make my entire tuition back in my first year's Associate bonus.

[Jesda]

A friend of mine earned his MBA at BI in Norway. Cost him a fortune to live there even though he had a scholarship. Definitely a huge advantage in networking, but in the end most of his contacts were mostly relevant to European opportunities. He was recently hired in part because he knew me who knew someone from NICO who worked for the same company in the same position his was applying for who was then able to offer a bit of advice on the job and what managers were looking for.

So I guess where I earn my MBA, especially if its not top 25, could heavily influence where it will be useful. I could carry on another 2 years and get one from my school, but outside of St Louis it doesn't have much weight.

I also like Wes's idea to find entry level work, then go for the MBA or advanced degree as a promotional/educational tool that might even come with tuition compensation. I <3 econ.

[Eikon]

Hash.. $35k / 1.2k = 29 credits. You are getting an MBA with only 29.. maybe 30 credits... only 10 classes? They must have waived a few for you?
I had only 1 class waived because I got my undergrad 10 years ago, so my total MBA with finance concentration is 51 credits. 17 classes. In-state tuition at Kent State is $422 / credit hour... so the total is $21500.. but I could have the basic MBA with 6 fewer credits if I wanted to settle for it.

Harvard is $45k per year plus another $4800 or so for books and fees, etc... So yeah, the top schools can run 100k for a 4 semester full time program. Part time isn't much different in total cost.

Jesda, if you can find a job you enjoy right now, it's a good idea. A lot of my classmates are going to school part time while working full time, and many if not most of them have part or all of their tuition paid for by their employers. It's a good way to do it.

I personally wanted to go after the degree full time as quickly as possible. I'll have it done in 15 months instead of the 3-4 years that many part timers take.

[nissangirl74]

Here is some tax info for my fellow students. there are tax cuts out there, just for us.

http://www.irs.gov/individuals/article/ ... 41,00.html

[HashiriyaS14]

Haha, my MBA-caliber math was wrong.

I will have BORROWED about $35k. I'll have paid more like $52k in total I suppose, and yes, they waived a few.

48 total credits to graduate, although it was 45 when I enrolled, and I got "grandfathered" in a few respects.



If you come get a job at WB/IMF or something like that, they should fund a decent bit of your degree, as will most normal private firms. Fannie Mae will PAY FOR THE WHOLE BLOODY THING, if you can get a job there.

[AZhitman]

Ugh. Wonder whose money FNMA is using for that? Hmmm?

Anyhow, I think we're all (including Jesda) overlooking the glaringly-obvious here, and it involves making use of one's talents.

I can't see The Pants holed up in a cubicle whipping out workpapers and spreadsheets for more than a month. He's too creative. I'm thinking there needs to be some component of travel AND a creative outlet.

Jesda, you could very easily become one of those people who's famous for, well, being famous. Start with a blog. See where it leads.

[HashiriyaS14]

^^
A Youtube channel would be funnier.

Become the next queen of /b/