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[auva0811]

Last spring, I finished a M.Ed. in Higher Education Administration and accepted a full time position in fundraising.  After investing nearly a year in development , I've come to realize the fundraising profession may not be for me.  I earned a bachelors degree in communication in 2008, and worked for two years in advertising/public relations before starting my masters program. During my undergraduate career, I served in several capacities in student government that allowed me to work with senior administrators on various projects and initiatives.  These experiences sparked my interest in building a career in higher education.

I'd like to move into a more administrative role in areas such as institutional budgeting/management/financial strategy, governmental relations, or possibly positions in academic leadership.  Ultimately, I could see myself serving as a university vice president for administration, planning or finance.

Which graduate degree, or combination of degrees, would make the most sense to pursue in order to make the transition into more of an administrative role?  PhD and EdD programs are great terminal degrees that offer relevant coursework and internship opportunities that would be very beneficial, but I generally don't enjoy the research component.  MBA programs would allow me to strengthen my background in finance, management, and accounting, but could be very expensive.  My undergraduate grades were decent, my graduate school grades were very strong, and I generally don't do as well on standardized tests.  I anticipate completing program applications next fall.

I'd really appreciate hearing any thoughts you all may have on my question. 

[obprof]

It sounds to me like the MBA would definitely be useful to you. It would also open up more possibilities in terms of other career paths, in case you change your mind about being mostly interested in University administration.

Sure, it can be expensive, but you can also look into scholarships and State programs.

[brixton]

MBA is better than a terminal degree in higher ed for VP in finance.  Not all MBA programs are expensive.  Maybe look for one that allows you to intern in the VP for finance division?

Good Luck!

[simplesimon]

As noted above, if your goal is something along the lines of vice chancellor or VP of budget/finance then an MBA is the degree you should pursue, but before doing so, some homework is in order.  It was not so long ago that you believed development was a suitable career path for you.  You have been doing that for less than a year, and you have already decided to bail?  Why should anyone (including you) now think that budget and finance is the more appropriate path for you? 

What successes have you had in development?  What failures?  What skills have you gained?  What specifically have you learned?  What networks have you cultivated?  What conferences have you attended?  What campus allies have you identified outside of your department?  These questions are obviously rhetorical; my point is that less than one year is not a lot of time to spend in a position and accomplish much of anything. 

From your development desk you are imagining career paths in budget/finance, government relations, and academic leadership.  These positions do not necessarily overlap. You sound unfocused.  Were you to transition to a budget position now, I can imagine you posting another message in this forum next December about how the budget position “may not be for me.”  To prevent this, you need to do some serious self-assessment, conduct informational interviews, and take counsel with suitable mentors to refine your next steps.  You may also need to adjust your expectations with regard to any future position.  Obviously, all jobs have negative aspects you cannot control (cyclical work, toxic personalities, bureaucracies, budget cuts, etc.)

The homework I prescribe cannot be done in one month or even two.  You should be prepared to put some time into it—presumably while you remain in your current position.  Bear in mind that any future employer will want to see that you held your previous position for a respectable tenure (at least three years), otherwise you may be perceived as a job hopper, flighty, or worse.  Rushing to get another degree is not necessarily the answer.

Many posters in this forum aspire to a position in academic leadership or a presidency.  Curiously, many of these same posters do not appear to be interested in academics.  In order to be a credible academic leader you need an academic background (teaching classes, mentoring students, published scholarship in your field, leading a department, managing degree programs, etc.).

Once again, the most reliable path to the president’s office is to obtain a Ph.D. in an academic discipline and move from assistant professor to associate professor, to professor, to chair, to dean, to provost, to president.  This is a very long road and many things can go wrong along the way.  It is nice to have a long-term goal, but junior professionals should focus on climbing one mountain at a time.

Good luck.

[auva0811]

Thank you to everyone for your feedback.  I greatly appreciate your thoughts on my question.  In response to the last post, I think in many ways you are correct.  My initial post did not include much depth into the specifics of my professional experiences leading up to this question.  I hope my comments below will help clarify my question.

Prior to completing my undergraduate degree, I was highly involved in various capacities within the student government. I oversaw the budget allocation process for all major student organizations, worked with the president's office and other senior staff on several hands on lobbying initiatives in the state legislature, and was often tapped to serve on many of those boards and committees that needed a student representative. 

When I graduated, I knew I wanted to go to graduate school at some point but wasn't sure about which discipline I would want to pursue.  Higher education administration was at the forefront of my mind due to the great experiences I had as a student leader, but I was concerned I would select higher education without giving anything else a chance.  The state of the economy in the summer of 2008 was really tough.  I bounced around from sales job to sales job until I ultimately landed in my advertising, political consulting role.  The work was fun for the most part, but I learned I hated sales and politics was fun.

When I got to graduate school, my coursework focus was largely centered on postsecondary fiscal policy and administration.  My masters thesis was largely focused on higher education funding model of the state.  I spent many afternoons conducting informational interviews.  I met with several administrative associate deans, the point person for state and governmental relations, and several faculty members seeking advice.  They all told me I was on the right track, but I needed some work experience under my belt to get where I wanted to go. 

Given my lack of a business/accounting background and my lack of interest in student affairs, my options were limited.  One of my mentors suggested I look into development.  Development officers have the unique opportunity to see a university's management and financial needs from a different angle, and I have found tremendous value in my job in that respect.  I've had the opportunity to meet with many types of university administrators and have had the chance to get to know them and more about what they do.  But as much as they tried to hide it when I interviewed, development is sales.  Deep down I knew it was sales, but given the state of the economy, I was just so glad to have a job offer.  I don't mind asking for money or traveling, but having so much of my success being largely based on the generosity and availability of others is not my ideal career scenario. At the end of the day, I know I can do any job for two years and could try to make a change after I had paid my dues doing something in university administration. 

Overall, I believe any of graduate degrees I mentioned will help me move forward.  The MBA would certainly offer the accounting/finance/management background I would need to step into a more administrative role.  Understanding these concepts could open doors that previously were unavailable to me.  And I certainly understand not earning the PhD would prevent me from pursuing leadership positions within the academic ranks.

[zharkov]

If you do go for an MBA, I strongly suggest trying to get into one of the top programs, say the top 30.  Businessweek has a good listing.  Go full time, borrow the money, and you will make enough to pay it back.  If you can't get into a top 30 program, go full time to a highly ranked program and only consider those that are AACSB accredited.   For a person early in their career, it makes most sense to get a credential that will accelerate their career.  You can afford to invest that time now.  If you were 35 or 40, and had established yourself, then a part time MBA (even a somewhat generic MBA) would be fine, IMHO.  You are too young to settle for a generic MBA from a no-name school or program. 

[chronanon]

If you do go for an MBA, I strongly suggest trying to get into one of the top programs, say the top 30.  Businessweek has a good listing.  Go full time, borrow the money, and you will make enough to pay it back. 

You are out of your gourd.  There is not a snowball's chance in hell that a person will make back the tuition of a top MBA program by working in higher education.  I know you imagine it's all Porches and winter cabins, but you're talking about someone at an entry level here. 

I went and picked out #15 from your businessweek list; it turned out to be Carnegie Mellon.  Total cost for the program?  $109,600.  Assuming a subsidized loan at 5% and a 10 year repayment period, you'd be paying for that MBA at a rate of $1162/month.  Of course, if you have to borrow (or draw from savings you hope to replenish) living expenses because of lost salary from the two years of the program, assuming a $50k/yr salary, then the repayment jumps to over $2000 a month.  Assuming it gave you a $10,000 salary bump and assuming 5% raises every year (ha!), after you finish paying off the loans, it would take you 15 years in additional salary to make up those payments.  So it's 25 years before you're making a "profit" on your CMU MBA.

I don't think it takes an MBA to figure out that is insane.   

The advice to get an MBA isn't bad given OP's goals, but the advice to go pay full freight for a top flight MBA is madness.

[zharkov]

If you do go for an MBA, I strongly suggest trying to get into one of the top programs, say the top 30.  Businessweek has a good listing.  Go full time, borrow the money, and you will make enough to pay it back. 

You are out of your gourd.  There is not a snowball's chance in hell that a person will make back the tuition of a top MBA program by working in higher education.  I know you imagine it's all Porches and winter cabins, but you're talking about someone at an entry level here. 

I went and picked out #15 from your businessweek list; it turned out to be Carnegie Mellon.  Total cost for the program?  $109,600.  Assuming a subsidized loan at 5% and a 10 year repayment period, you'd be paying for that MBA at a rate of $1162/month.  Of course, if you have to borrow (or draw from savings you hope to replenish) living expenses because of lost salary from the two years of the program, assuming a $50k/yr salary, then the repayment jumps to over $2000 a month.  Assuming it gave you a $10,000 salary bump and assuming 5% raises every year (ha!), after you finish paying off the loans, it would take you 15 years in additional salary to make up those payments.  So it's 25 years before you're making a "profit" on your CMU MBA.

I don't think it takes an MBA to figure out that is insane.   

The advice to get an MBA isn't bad given OP's goals, but the advice to go pay full freight for a top flight MBA is madness.

Here's my logic: A no-name MBA will get you a job paying $40K, let's even say $50K as you suggest.  But CMU?  I'd figure twice that, but let's even lowball to $75K.   You'd pay off the $109K in less than 5 years by that delta.   Just to be clear, would West Central State University pay that $75K to a new-ish MBA?  Probably not.  But the high end schools would. 

PS:  It would also help for a person with this career track to focus on something like non-profit finance in the MBA  (or non-profit management and finance).

[higheredguy]

As someone who is on the same track as auva0811, I believe most of you are right....mostly. It would help to get an MBA. It doesn't have to be from a top 30, but it does need to be respectable. This is because that won't be your last degree. If you want to seriously be considered for a VP of Administration post, you need an earned doctorate. An EdD would be the key for you. However, if you get your EdD in Higher Ed Admin you could just bypass the MBA. Don't waste your time and money on another Master's degree. I have a BBA, MBA, and am currently working on my EdD. My goal is to be a VP or President of a university. You can do this, just make sure you know what you want to be before you dive into more school.