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Thread: Master in I.T. Management or Masters in Economics?

  1. #1

    Master in I.T. Management or Masters in Economics?

    Hey guys, havent started a thread since the end of the epic season we just enjoyed but wanted to throw a question out there to get random opinions on. I have recently graduated with my BSBA with a major in economics and am currently working as a Consultant for a Home Remodeling and Building Company in Nebraska. The job is decent, pay is above average and I have a flexible schedule, but I am not in love with the job (working with homeowners gets old) and am looking to make a move into something that would be a little more intellectually stimulating and skill driven. I have 10+ years experience in the construction industry ranging from framing to general mangement with construction companies, but I am bored with the industry and aside from starting a real estate development company, I want out.

    So I am exploring a couple of opportunities that I have infront of me that involves earning my Masters in a couple of different fields, all of which I am very interested in and believe I would enjoy given the righ opportunities.

    Masters in IT Management: I am currently working with the director of the Masters in IT management program at a local private school (Creighton Univeristy) here in Omaha Nebraska. From what I am told the degree focuses around strategic and developmental aspect of IT applications within organizations and companies. I would like to use the degree to either do small business IT consulting or to start a Data Storage Center being that data storage and capacity is in such demand. I also like how this industry is still quickly evolving and if I can get the right skill set I could take advantage (from a business start up point of view) of a good opportunity.

    Masters in Economics: My undergrad degree was a major in Economics and I thoroughly enjoyed the program. I was good at both the math and theory side of economics and would like to use a masters in this field to do either risk analysis or consulting for the real estate industry. While its not the growing industry that IT is, it would be an interesting and potentiall useful degree if I found the right niche to apply it in.

    Or would an MBA be better being that it would provide me with much larger scope of options and not pigeon hole me into one specific industry or field?

    Does anyone work in any of these fields / industries with degrees like this and if so were they worth attaining?

    I am trying to further refine my skill set to make myself more marketable and create a situation where I can actually have a career working in a filed I enjoy but also have the expertise needed to develop a solid, rewarding career.

    Any opinions are appreciated here as I have been racking my brain the last month or so about going back to working towards one of these degrees.

  2. #2
    I know what it's like to be at a crossroads and explore different grad school opportunities. The only thing I can tell you is that there seems to be a flood of MBA students/graduates right now with not enough jobs going around. Maybe someone in the financial industry can confirm that, but that's just my observation.

    Good luck.

  3. #3
    [QUOTE=pauliec;3541072]I know what it's like to be at a crossroads and explore different grad school opportunities. The only thing I can tell you is that there seems to be a flood of MBA students/graduates right now with not enough jobs going around. Maybe someone in the financial industry can confirm that, but that's just my observation.

    Good luck.[/QUOTE]

    Ive heard the same stuff about getting an MBA, it tends to be the first thing all business people go for when the economy takes a crap like it has. One of the reasons I like the potential of a ITM Masters or Econ Masters is that it is a much more specialized area and something of which most people either wont consider or dont want to take the time to learn or they are flat out not interested in.

    Thanks

  4. #4
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    A few questions/thoughts...

    A Masters in IT Mgmt. likely sets you up for managing a data center, a team of IT project managers or developers, or eventually being a CIO (Chief Information Officer). Do you have a desire and aptitude for technology? And specifically, do you want to be on the Management side of things versus actually developing or programming systems? CIO's typically fall under the CFO branch of a business organization and will report up to a CFO since the CIO is key to providing information, reports and running the systems that manage the companies books.

    What draws you to Economics? I have a minor in Economics (BS Industrial Engineering) and I've always liked Economics but it is very academic and theory/model based. Macro economists do research and look for trends, but it isn't as "tactical" a field as something like Accounting or Finance. Businesses hire accountants and finance majors in much great numbers than economists. But if you love Economics, go for it. Just don't do it because you majored in it and think it's the shortest path to a Masters because of your undergrad degree in the same field.

    Good luck.

  5. #5
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    [QUOTE=JYtheJETSfan;3541085]Ive heard the same stuff about getting an MBA, it tends to be the first thing all business people go for when the economy takes a crap like it has. One of the reasons I like the potential of a ITM Masters or Econ Masters is that it is a much more specialized area and something of which most people either wont consider or dont want to take the time to learn or they are flat out not interested in.

    Thanks[/QUOTE]

    You might also consider some type of certification or accreditation. For example, certified project management professionals (PMP) or technology certifications like CISSP or specific Microsoft-related technology certs like MCITP or MCSE. Many are in demand right now.

  6. #6
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    [QUOTE=jetstream23;3541142]CIO (Chief Information Officer)[/QUOTE]

    LMFAO!!! Oh, the fake job names these kids will think up these days. Is there any limit to their imagination?

    Hey. I had to leave my prestigious job as a Hydrothermic Technician(plumber) at my local Hydronic Plant Installation Service Center(plumber) to get a job as a Construction Fiduciary Preparation Technician(project manager) at a Residential Real Estate Development Oversight Firm(contractor) in WNY. Word. :D

  7. #7
    [QUOTE=jetstream23;3541145]You might also consider some type of certification or accreditation. For example, [B]certified project management professionals (PMP)[/B] or technology certifications like CISSP or specific Microsoft-related technology certs like MCITP or MCSE. Many are in demand right now.[/QUOTE]

    More information please!

    edit: info like real life information...I just looked it up so I know what it is...but answers to questions like: is it in demand? what type of positions seek out certified pmps? average salary?

    ...again, I'm asking about people who know someone or have personal real life experience with this certification...I've never heard of one and I'm intrigued.
    Last edited by greenwichjetfan; 03-30-2010 at 08:57 AM.

  8. #8
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    So you would have a Masters in IT management but no undergrad in computer science? Could be a recipe for disaster since you would only be a manager and not have a good tech background. Not to mention total lack of respect by geeks wherever you're hired.

  9. #9
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    Economics, please (Austrian school only). Your country needs you now.

  10. #10
    The only reason to get an MBA is to make yourself more attractive to very large corporations as a management candidate.
    I got my MBA after the Army and while working for a large corporation.
    The courses I tood offered me nothing except that degree at the end which then accelerated my career.
    I derived zero from the actual material and in fact could have taught every course except the accounting ones required. It will probably not help you in running your own business. Actually courses from a tech college will probably be more valuable.
    Oh, and unless you plan on working for Warren Buffett, get out of Nebraska and go to a big city.

  11. #11
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    [QUOTE=palmetto defender;3541291]The only reason to get an MBA is to make yourself more attractive to very large corporations as a management candidate.
    I got my MBA after the Army and while working for a large corporation.
    The courses I tood offered me nothing except that degree at the end which then accelerated my career.
    I derived zero from the actual material and in fact could have taught every course except the accounting ones required. It will probably not help you in running your own business. Actually courses from a tech college will probably be more valuable.
    Oh, and unless you plan on working for Warren Buffett, get out of Nebraska and go to a big city.[/QUOTE]

    My wife works in Corporate retail and has Harvard MBA"s coming through for interviews that are clueless. She has had more success with less educated but more practically experienced candidates.

  12. #12
    [QUOTE=32green;3541310]My wife works in Corporate retail and has Harvard MBA"s coming through for interviews that are clueless. She has had more success with less educated but more practically experienced candidates.[/QUOTE]



    Couldn't agree more.
    My first job was with a Dow 30. They cared about me being an Army officer and having played college football.
    They and the Army split the cost of my MBA. It was from a good school but everyone in the program had no clue as to practical application. Most never even held a summer job. Sad.

  13. #13
    [QUOTE=jetstream23;3541142]A few questions/thoughts...

    A Masters in IT Mgmt. likely sets you up for managing a data center, a team of IT project managers or developers, or eventually being a CIO (Chief Information Officer). Do you have a desire and aptitude for technology? And specifically, do you want to be on the Management side of things versus actually developing or programming systems? CIO's typically fall under the CFO branch of a business organization and will report up to a CFO since the CIO is key to providing information, reports and running the systems that manage the companies books.

    What draws you to Economics? I have a minor in Economics (BS Industrial Engineering) and I've always liked Economics but it is very academic and theory/model based. Macro economists do research and look for trends, but it isn't as "tactical" a field as something like Accounting or Finance. Businesses hire accountants and finance majors in much great numbers than economists. But if you love Economics, go for it. Just don't do it because you majored in it and think it's the shortest path to a Masters because of your undergrad degree in the same field.

    Good luck.[/QUOTE]

    I definately understand the principle path that a masters in IT Management would lay out for me within an organization (management oriented vs application-skill oriented) and this is what draws me to the degree. Whether I am working for a data center, consulting firm or corporation I would like to be able to identify the best possible technology opportunities and then apply them strategically within the company or through consulting to help bring about efficiency and profitability. One of the things I am looking at it the boom in data center construction here in the midwest (low property costs, cheap electricity and water for operations).

    If I could get the degree and experience I would like to either start my own data storage company or start a consulting business for small to mid size companies here in the midwest helping them manifest their business in the ecommerce realm. I get the idea that if I can understand the technology and how to apply it through the masters program I can hire the computer science guys to install and maintain the systems we would theoretically install. Just some broad ideas but I am hoping the Masters in IT would provide the foundation for them.

    On the economics side of the idea, I truly have a passion for it and involve it in many conversation I have throughout the each and everyday. I am very politically driven and understand the need for economists that truly understand the capitalist driven principles in a competitive economy. Aside from using this degree to sharpen my arguments that would make milton friedman proud, I would love to be able to apply it in a practical way again either as a consultant for small to medium size businesses in real estate and what not.

    Both degrees would also allow me to dabble in a profession I would like to work as I get older and more experienced in a real world sense which is teaching. While I probably would have a hard time finding a teaching position at the university level with only my masters in econ or ITM I could easily teach at the community college level. Just another side idea that would be enjoyable and rewarding.

    One last thing. Omaha, while compared to New York - East Coast population bases is significantly smaller, it is one of the fastest growing business corridors for IT firms and Finanical institutions. Due to the low tax burdens on businesses, favorable commute times and stable of national companies there is a wealth of opportunities in the moderately sized but growing city. I know its no wall street but we have a population in the metro area of roughly 850,000 people and a unemployement rate of 4.8% (1/2 the national average). It also helps with property prices being half to a quarter of what one would find along the coasts.

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