FEMBAs choose to be or end up being unemployed for part of their MBA. Fully
Unemployed MBA (FUMBA) is a somewhat sarcastic term coined for this brave lot.
I myself chose to be a FUMBA and will talk about the reason for my decision and
the common struggles and joys of being a FUMBA.
FEMBAs looking to switch careers usually quit their jobs towards the end of the 2nd year and part or whole of the last year. Usually taking up an internship at the end of 2nd year is an impetus to taking this step. You can either land an internship through the On Campus Recruiting (OCR) process or outside of it. The OCR process requires FEMBAs to quit their jobs before accepting the internship. If you land an internship on your own outside the OCR process then there is no such requirement. In the latter case I have known FEMBAs who have taken a sabbatical for the summer and returned to their jobs in Fall. In rare cases I have known FEMBAs who continued working full time with the companies that they interned with.
FUMBAs are able to immerse themselves in the full time experience and also use this time to find their next gig. Some activities include, playing leadership roles with the clubs they are associated with, attending on campus events as well as industry and alumni events.
One common concern I hear is how to manage expenses without a pay or a lower pay. Here are some methods that are possible:
1. Consider downgrading vehicle insurance to
2. Consider downgrading medical insurance to catastrophe only. Possibly get rid of it totally and rely on public clinics such as Westside Family Health Center in Santa Monica. Unfortunately you don’t qualify for university sponsored insurance offered to Full Time MBA students.
3. Pursue internships in the industry and function that you are interested in.
4. Consider moving into University Apartments (http://map.ais.ucla.edu/go/1002103 ).
Three years of FEMBA can take a toll on you, especially if you have a spouse or a steady relationship. Taking some time off allows you to focus on what is best for your family and reenergize yourself before getting back in the workforce.
Submission by Saurabh Khurana
Bio: Saurabh is a FEMBA 2013. He is an avid outdoor enthusiast and a Lakers fan. His background is in technology and is interested in Big Data and Digital Marketing Technologies. He was VP of the HTBA club and an active member of the MCA club. You can find him on LinkedIn: http://www.linkedin.com/pub/saurabh-khurana/0/787/459