$35k Saved-- MBA or Get my Wings?

[RUNNINHORN]

That is where I am right now. Im trying to decide if I should go back and get my Masters Degree in Business Administration here in Dallas at S.M.U. OR go to one of the Flight Training School's and pay for my training all the way to A.T.P. If you were 24 years old, and given the current economic situation, which would you pursue, your wings or MBA? I absolutely LOVE flying, was earning my private in college until the $$$ ran out, and am now trying to decide which way to go in life. What would you do and why? Which would be most beneficial in the long run to have? Thanks in advance for the input.........

 

[jetexas]

I would get the MBA. By the time you are done with your MBA, the current economic situation will have hopefully improved. You could then get a good job and perhaps buy your own plane. You could fly when you want to where you want to and continue your ratings from that point, if not prior.
You are young enough to make the switch from businessman to pro aviator down the road if you so wish. The industry is dead right now and likely will be for years.

I'm just telling you what I would do at 24. Good luck!

 

[bobbysamd]

Degree

S.M.U. has a great business school. Do I assume correctly that you have your four-year from there?

I think I would second the above. If you can finish in a year you will still be young enough to start flying, if you still want to. You will be armed with a great backup plan that can still involve you in the aviation business.

Good luck with your decision.

 

[Eagleflip]

As much as I love flying, I'd also recommend you get your MBA. Given the current state of the industry as well as your potential earning power as a freshly minted MBA, you'd be better off getting the education. To be frank, I've never met anyone who has regretted getting an advanced degree. In other words, no formal education is wasted.

You would then be able to earn a great living, take care of the babe-a-saurus you will soon meet, and still save enough money to again have the option to get your licences. By the time that happens (say, in four years) the industry will have stabliized and you will still be young enough to start a new career if that is what you wish.

Still, even given the MBA route, perhaps you will have just enough left over to get your PPL--that would maintain your dreams of flight for the long term.

Best of luck, and don't let my advice diminish your dream. Just get there via the smartest path available!

 

[Draginass]

That's a no-brainer. Get the MBA. The airline industry is changing rapidly, and not for the better. Airline management, both present and future is devoid of strategic thinking. It is rapidly approaching a Walmart mentality and business model, complete with proportional compensation, prestigue, and ambiance. Given the hostility of the government to unions (dems/republicans . . take your pick), I think you will see unions emasculated by management. If you want to live in New York City on Bugtussle Alabama wages, go ahead.

If you love flying as a recreational pilot, you will probably hate it when doing it for a profession. Considering the probable long-range prospects for good compensation, and given the long road of starvation wages and extremely high costs of reaching an decent paying airline job, it's just not worth it IMHO.

As an major airline pilot now, I can tell you that this profession is not enjoyable, and is about to get much worse.

Pick your own poison.

 

[KingAirKiddo]

MBA

Get the MBA. Ditto all previous posts without the dripping pessimism and outright surly attitudes. (Anger management, people!)

 

[Timebuilder]

MBA! MBA! MBA!

Here's why:

Look at this from an investment standpoint. You put 35 grand into flight training. In the current climate, it may take three to four YEARS before you recoup your original principal and start to make a profit in aviation, and a good fifteen years before the pool of available pilots shrink sufficiently to get you hired as an FO at a major, so you can be ontrack to an eventual good income. That's fifteen years beginning from the time that you FINISH your training, so we are close to 2020 and you are close to forty. It can be done, but if you are over sixteen, I don't recommend it right now.

On the other hand, you get your MBA and in three years you are making more money in one year than I will make in three years. Sad, but true. So, you now have the money and leisure time to pursue aviation as much as you like. Heck, you can get typed and sit in as occaisional first oficer on the company jet, if you have enough "pull". You can start your own company and fly yourself around. You can do what you like, as much as you like.

As an MBA candidate, I think you see the numbers speak for themselves.

 

[JediNein]

Howdy!
Also look at the types of MBAs. Riddle has an aviation one, they shove Southwest versus XX Airlines for the majority of classes. (Write one honking paper about Southwest and the rest of the degree is easy.) There are MBAs in small business, big business, corporate management, finance, accounting, and so on. Unlike the undergraduate degree, the masters programs require cramming every day.

What is your exit plan for the degree? Where do you want to be working in 2 and 5 years? 10 years?

Now look at AllATPs. They are still hiring instructors, even after Sept 11, 2001 & 2002. At the 15 month point, I have a friend with over 800 ttl and 600 multi. When he decides to move on, his times will be competitive with everyone else AND he will have the recommendations of several airline pilots. (This is also a guy that almost everyone likes anyway.)

What is your exit plan for the ATP? Where do you want to be working in 2 and 5 years? 10 years?

For either choice, what will you do if you can't find a job immediately?

And which job would you rather be holding out for? Assistant peon to the head peon of the backup accounts payable Denver office for mega-global international corp? Or airline pilot/flight instructor/corporate pilot/FLYING?

What if you got paid enough to buy your own airplane?
What if you started your own business and earned enough to use the plane in business?

I'm biased, I gave up the office job. Pay was initally lower, but the happiness factor is far greater. I expect to exceed that office job's pay this year, as a flight instructor.

Fly SAFE!
Jedi Nein

 

[Lrjtcaptain]

Here is what i did...
went to riddle, got the B.S.
got a flying job, have held it for over a year and im quiting cause there is no advancement in this company

im off to the ATC world in August and plan on getting the Masters when i arrive in calif.

I would definatly do the MBA. Unless you have high hopes of getting a career going as a pro pilot but its a rough world out there right now.

to each his own, do what makes you happy.

 

[flydog]

I vote MBA

 

[350DRIVER]

OR

I disagree with the "go get the MBA because the industry is in bad shape" attitude. A four year degree is more than enough to secure employment in the aviation industry even present day. There is no reason why he can't get a job after doing his training and if that is where his "love" and "desire" is then that is where he should go. Obtaining a MBA shows that an individual is very structured, dedicated, and I am sure we could keep goin..... The main question is "why" would you skip training when you have the money to achieve this "dream" of flying which down the line the money may not be available.? - If it were me then it is a no brainer, go to a flight school and get your training. Getting the MBA is going to be of little help to you since you will S T I L L need to get all your certificates and build your flight time up some way some day. You can always get the MBA at some point in the future when you are flying for a profession. I would probably shoot myself if I spent all my "flying money" on the MBA, finished it and was stuck at a "desk job" cause I ran out of money and couldn't do my flight training. Not only is "money" at issue, "timing" would also be a key in the equation. Little hiring is going on with regards to the 121 carriers present day (still quite a few are hiring), 135 hiring is remaining steady as well as the 91 departments so I couldn't think of a better time for you to begin your training than now.

If flying for a profession is what you really want to do then by all means get into flight training now and worry about the MBA at a later time in the future. I find it hard to buy into the concept that having this will make you that much more likely to gain employment as a pilot within the industry. It really all boils down to what "YOU" really want in life and in aviation. Having the MBA would be great but it sure won't get you a job over the thousands of pilots who "only" have a four year degree, lotsa flight time, experience in many airplanes, prior 121 or 135 experience, etc, etc, etc, .... We have had a few pilots drop off resumes who have obtained the MBA who were not even given the interview due to the fact that the MBA did not help their "flight credentials"- I have not seen too much emphasis given to the MBA. Most flight departments are much more concerned with FLIGHT TIME & EXPERIENCE and many other things that are more important.

Don't get me wrong, the MBA would make a resume look better on "paper" but in real life I don't see how this is going to get you where you need to get to.

good luck

3 5 0

 

[seagle]

Get the MBA! Get a great job and work on the ratings (part time) with the proceeds from your new job. There is no substitute for an advanced degree! Good luck to you.

 

[ceo_of_the_sofa]

I looked into it myself, and it seems as though, MBA field is saturated and will be for a few years. Also, for an MBA to carry weight, it has to be from top ten schools, otherwise the investment won't be worth it in the long run (wharton, penn, you get the point)...It'll be a while before you can afford to fly again with an MBA. Like some have said above, a four year degree in something other than aviation is more than enough, so just get to work. And with 35 big ones...well, at a small Part 61 school you'll have all your ratings and have left over money to take a Kaplan LSAT prep course and steer yourself toward getting a degree in law (now that, my friend, is always good to have)

Just my thoughts (coming from a four year degree in economics holder who's gone through the same process as you, except I allready have a private)

Flame suit on...zzzzzzzzzzip

 

[350DRIVER]

Like some have said above, a four year degree in something other than aviation is more than enough, so just get to work.

EXACTLY - "overkill" is not good especially in aviation not to mention that you will have to make up for lost time if you do decide to delay flight training and pursue the MBA. "IF" you do achieve the MBA then you probably will have to be just as "impressive" with regards to your flying credentials/experience/flight time/accomplishments and anything less may be viewed as a negative possibly down the line during an interview. Your degree is enough to get you where you want to go now just concern your thoughts with flight training and taking the best possible route.

I would definitely look into the MAPD program which will get you into the right seat of a CRJ at a low time in a short time period. They train you the airline day from day 1. If I could do it all over again I would have went this route in a heartbeat after I realized where I could have been by now. Much better investment (in my opinion) IF flying is what you REALLY want to do which seems to be the case after reading your post.

IF you want to work a 9-5 desk job, move and fly just for "fun" on the side then the MBA route may be a better choice to help you get there.

good luck

3 5 0

 

[Sean]

To do or not to do

After reading your post, I have to say, I was in your shoes a few years back.

After graduating with a (4) year degree in business I was wondering if I should follow my dream in become a professional/Military pilot, or get that fancy MBA.

At the time I was working full-time in a finance job working 13 hour days sitting behind a computer and not making all that much money. I decided to get the MBA, so I worked full-time and got the MBA at night. It took (2) years but I got the MBA and a lot of business working experience. Obtaining your MBA at night and working full-time was hard but worth it.

I then decided after the MBA even though I was making good money that the office job was not for me so I went to FlightSafety and got all my certs. I'm now a CFI making zero money but having a blast!

The decision comes down to what you want out of life. I knew sitting in an office was not for me but I wanted to master and hone my business skills for if ever called upon I had some real life business experience. I will always have something to fall back on, or could start my own business. Why do you pay insurance? If you ever need it, it's there....think of the MBA as the best investment you could ever pay for, spend the time, work hard, do well and then go after your dream and fly, that's what I did anyway....it seems to be working fine except all that debt.

Talk about funny, I have a student that is President of a hospital making big money, he just bought his own plane and I’m instructing him on his instrument…after talking to him it turns out he has his MBA, after telling him I have mine…I had to take the controls…most people in the aviation industry do not have an MBA…rightly so, it’s not required, but having one is just one more war story for YOUR folder.

Good luck with your decision!
--Sean

 

[Don]

Do what I'm doing and get both. I'll finish my Masters in IT in December. I also am a CFII/MEI and hopefully I'll have enough time to apply to a regional in December.

Lots of people will tell you that a Masters does not mean anything in aviation, but regardless, if you get furloughed you will have a Masters to fall back on. When two equal candidates apply (it will always be that or more for a job as a pilot) and you have a masters you will get picked because while education does not make you smarter, it does mean that you have lots of practice with school. I'm sure that a large part of being a professional pilot is getting through classes. A masters degree shows you can and will do that successfully on the first try.

Please don’t flame away because you think I’m saying people with no degree are dumb, that’s not the case at all! I’m just people who have degrees went to more classes. And like anything else, the more you do it the better you get at it. Educated does not always equal smart!

 

[bobbysamd]

Degrees, in general

We have a regular contributor who holds a Master's and always says you don't need a degree to succeed in aviation. In and of itself that may be true, but it can help things along in a big way. Education is one of the few aviation quals over which you can exercise control.

For one thing, there's that little question about educational background. The question usually asks, did you graduate? Better to check off "yes" than "no" and give them an immediate positive than a negative. As written above, a degree shows that you can succeed in an academic environment and have the follow-through to complete what you have started.

A degree(s) is not necessarily an intelligence barometer. But it is proof positive than you can handle difficult academics. Last I checked, airline ground school was not exactly Underwater Basketweaving 101.

 

[SkyWestCRJPilot]

fly

 

[bart]

I had the same option when I was 25, but had a scholarship. You might ewant to look at a few other MBA programs out of state that might be willing to give you a scholarship. I would recommend Wake Forest, Univ of GA or Emory. They are all looking to expand their geographical reach and might leave you with some money to pursue flight training too.

 

[quigs]

Get the MBA. What will you do if you lose your medical? I would start the MBA and monitor the aviation industry closely. Four year degree's are now what high school diplomas were twenty years ago, everyone has one. You can always start the MBA and if things look like their picking up in aviation switch over. Getting an MBA will not make that much of a difference in getting hired at an airline, however an MBA could be the goldmine when looking for any other job outside aviation. You could always work for an airline with the MBA at a different level than pilot.

Good Luck!!