Calculating the total cost of tuition, living expenses, and “student activities” for my *potential* MBA

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From a cash standpoint I think $40k is best for the 2 years if you live in a M/LCOL city. All in my MBA cost ~200k incl the trips I took, I didn’t travel much. Fall break x2, spring break x2 & 1 summer trip. I would dip off some weekends though but nothing big.

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Evaluate if you really need one. If your not almost immediately making your money back, maybe it’s not for you.

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I doubled my comp so will make it back in two years. I don’t factor in opportunity cost of missed salary, because the growth and experiences I had + a new set of close friends which is rare in adulthood made up for that alone. But depends what you want to do! If you want to go into social sector, for example, I would prioritize places with scholarships

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For what it's worth, I got into the Deloitte graduate program deal (GSAP) and sat down to do the math myself. I ended up exiting to a well funded startup and make the same as what I would have been offered returning to Deloitte after an MBA. My anecdotal experience has shown me that an MBA isn't as necessary as it used to be, exception being a few sets of companies.

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Do it part time?

Applying to dual degree programs, which both limits part-time options and increases the cost. I thinks it’s worth it to switch industries into something I’m passionate about but it’s still very scary looking at the amount of debt I’ll need to take on

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Is that $40k per year?

I feel this. At the end of the day, it wasn’t worth it for me after looking into programs for almost 2 full years. I ended up doing a specialized masters for my job function (online program) and I’ve still had a great experience, learned a TON and made some great connections - all for less than $30k and didn’t have to take any time off from work. MBA is, in my opinion, very overrated, but I think you need a masters in something to remain competitive in the business world nowadays.

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