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It’s worth it if you can get into a top 30 school, not just those 3, and again, for some service lines, you need it to make anything past manager. Also, getting it gives you options. There’s a great chance you won’t be with the same firm in 10 years. The MBA is a helpful qualifier if you change careers, firms, etc
P2 - def a time investment. My classes take up 4 full days a month but the time outside the classroom on case studies, group work, and readings adds up. It forces you to learn how to be even more efficient with your time and time management.
OP - the tier of Mba matters to some, and they certainly have their networks and benefits. I would encourage a top 15 program if that helps you cast a wide enough net. MBA doesn’t necessarily help you make partner (not required to have one) but it doesn’t hurt you and the skills and network you gain will come in handy.
Not worth it, get into a firm and grind from the ground up. The work is way more learning than MBA and opportunity cost is insane
Get it sponsored. I’m in one of those programs you listed and while I love it and have been learning, it is not a requirement to continue growing within any of our firms.
P2 - I wanted the challenge and the ability to prove I can be better. I don’t come from much and I’m getting it fully sponsored, which makes it an incredible opportunity regardless if it’s required or not. I looked at it as a way to make myself better, increase my network, add to my skills. There are others in my program who are paying out of pocket and I couldn’t imagine doing that but seeing as it’s free and the only thing I contribute is mental capacity, I’m good with it. Plus I do get a social life, you end up doing a lot more fun things with classmates than you think - a lot of the value in the program is who you are learning with and the network you gain. That’s just the way I thought about it, of course it’s very situational and if you decided it isn’t worth your resources than totally fair.
Absolutely worth it - in some firms you can’t move up without it depending on your service line. Also, the alumni networks and reputations + your work experience will take you to new heights if you decide to jump
I am in Advisory - Reg/Ops. Most folks I speak to tell me if I leave in 4-5 years as an SM, my industry opportunities will be great and I don't need an MBA.
And the consensus is that the MBA gets you in the door to a big 4, the degree is common, and not worth the investment - especially in the compliance world.
While that may be true, I also have an operations background and my goal is to become an MD or even C-Suite one day.
I am still young (33), have a very good resume, and think a degree from a top 10 school would secure my family's future.
But, am I able to accomplish my goals with spending $200k? This is my dilemma.
Only worth if you get into Top 3. The brand will carry you into MBB and beyond. Otherwise, you’re already Manager just grind it out
Thanks P1.
But would you only recommend if I can get into Columbia/NYU/Wharton? Or is an MBA in general sufficient?
Also, How does an MBA help me get to Partner? (If at all)
P1 - you're the best as always. Thank you kindly.
Who looks at education anymore if you have x years of experience already worked for some of the best companies in the world, you know people on the street....how's a MBA a qualifier?
Another thing I will add is that the business world is always changing. While yes, there are some timeless principles that always ring true, their application shifts. More education is never a bad idea, even after the MBA. Whether it’s structured or formal, never stop learning. Know how to read financials without help. Know how to crunch data without help (use spss, excel, tableau, etc.). Know how to do a strategic plan (that’s truly strategic and based in reality) and how to communicate it and implement it. Are you a good leader? That can (and should) be learned. Do you know the difference between management and leadership and why both are absolutely critical in different environments? Are you a good team player? That’s also a must. Can you understand operations and organizational design and why form only follows function once, and after that function follows form until the company restructures? Why is running a digital development project different from a regular, run of the mill corporate dev project? What aspects of marketing and production are now basically obsolete (if any)? These are the things (and many more) one needs to know or at least be aware of to be a really effective leader in today’s environment. Yes, absolutely learnable with years in the job. The magic of an MBA is the same magic consulting brings. Compressed time to learn a lot more than one might typically get exposed to in a day-to-day role. To me, that’s always a good idea, if the program you choose can truly do that
A final thought and then I’ll leave you alone. There’s a great book called “The 10 Day MBA.” A guy was looking over his notes after graduating from a top 10 program (20 years ago) and basically published them. It’s well written, and provides the key “need to knows” from the core curriculum of a typical top 20 general management program. Take a look - it may be enough (I exempted 2 core courses after studying it for a week). If it doesn’t all look pretty obvious to you, and if it looks like useful info you don’t already know, an MBA may be something to consider, even if only for your own development and growth. That’s almost never a bad reason to do something.
Advisory doesn’t full sponsor. Just 10k a year and have to do part time
P1- If it is not a requirement to grow then why to bother about it ? I heard these programs require lot of hard work.. and u don’t get any social life for 2 years..
P1 - Thanks for clarifying.. Just asked as, along with money , it is a big investment of time as well...
MBA is only a must if you want a high level job in industry. People get MBAs from top schools for the network and relationships. Not worth it all if you are going to a non-elite school in my opinion.