My friend needs advice and I am pasting his email below..
"Rehaan, pls post this on gupshup.. thx
Currently I am doing B.Eng (in Computer & Electrical Engineering) @ a Canadian Univeristy. Just like everyone else, I want to make big $$$. For that I am willing to do masters (or basically further studies after my bachelors). Someone recently adviced me to do MBA after my B.Eng is over with, so that I can get one of those high paid executive jobs (sounds nice). Some say I should go ahead and do masters in my own program which I am in right now. A few months ago myself, I had decided to do another degree (Computer Science) after finishing my current degree program beacause I saw an advertisement which said “Another Degree in 1 year, if you already got a degree” lol.
I would like to ask you guys for some advice upon what to study/do after my current bachelors program is finished. Pretty frankly, after studying alot, I want to get paid good enough ($120K+) so I can tell myself that spending all that time was worth it on working hard.
Sorry for sounding like a cheapo as I am not in reality, just trying to get the idea through. Kindly omit “do what you enjoy the most” stuff pls (sorry).
doing Masters from anywhere is no guarantee that one will get a job let alone a highly paid one.. and it looks ur friend doesnt care much about profession but $$$$.. to get a job bachelors is enough and masters is usually done after few years of experience and according to career path or interest.. i would advise that if ur friend is looking for $$$ as the most important thing then he should become a lawyer..
All the fields he has mentioned sound marketable to me. I think he should go after the field that he really feels a passion for. I don't think earning money is hard if you are really motivated. The thing to look for is motivation. He should see which field motivates him the most. There are opportunities to excel in every academic discipline. If he is in a field of his interest, he will automatically put in his best and success will come to him for sure. Hard work in any field always brings rewards.
He should get done with the bachelors and get some decent work experience. That is more important then getting a masters. Once he has about 3-5 yrs experience then he should start thinking about a masters or MBA and once he is done with that if he has had a good career path with decent companies and good school for his masters he can start thinking about the 120+ If he wants to make that starting out then he has to be really good in what he does - as in exceptional. have him check what his career office says about typical salary ranges for people in the Bachelors program. Based on the numbers and his mathematical skills he should have a fair idea of how good he needs to be to make 120 starting out.
Thanks for the instructive responses. However, he was looking for something really specific here. He does have a fair idea about his academic skills but what he wants to know is that right after his undergrad/some work experience, which would be a better path to take MBA or MASTER in his program?
Moreover, which path would generate the most amount of money?
An MBA job requires a significant amount of experience in the field which the employee will be working in.
A significant amount is defined by the employers and is usually between 7-10 years
With no experience whatsoever i dont believe that anyone can make large amounts of money. In reality all a degree does is give you an insight into a field you wish to work in. Most degrees have little to do with what goes on in the real world.
For example most PhD's are professors and some of them do research as well.
I think to make lots of money your friend should pursue a degree in
MBN or MIKA
An MBA generally would lead to more money (as in the cap is much higher in most cases) but going straight out of undergrad to MBA is a waste of time. you need a minimun of 3-5 years of steadily increasingly challenging work experience for the MBA to be really useful to you.
if he wants to go straight out of undergrad then he should aim for a masters.