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Depends on what you’re starting at. I was ~70k TC pre-MBA, went to a top 25 program and now at ~230k three years out. Ended up taking out about 80k in loans plus maybe 160k in opportunity costs so about 250k. Assuming my comp would have kept increasing uniformly at my old job, I hit breakeven this year
Strategy consulting
I was making $72k at 26 years old, went to a top 50 program and made $120k starting 2021, now at $150k, so doubled income in 4ish years.
It really depends on your starting point. If you're already in a field that hires a bunch of MBAs (e.g., strategy consulting) the MBA may not help much and you should either look to get sponsored or forego (hard to get positive ROI when you miss two years of income and experience).
FWIW, I'm class of '18 top 20 MBA weekend program. Pre-mba was engineer at ~$90K. Now I'm in strategy consulting at ~$320K. Deciding how much I want to commit to this career path, but if I keep going, 7 figure income is not out of reach.
You might want to try for top programs that are able to pay out a lot in scholarship, for example booth, Darden, Kellogg Etc., all have great aid/scholarship packages. Darden has been big in providing full scholarships. I’d say if you’re trying to pivot into an industry where MBA programs have strong affiliations with tech companies, will be totally worth it, in addition to getting the scholarship of course. Try and avoid schools that don’t provide any scholarship- not worth getting into 200k+ in debt, might as well network on your own.
I have the same concerns which is why I'm going for an online MBA while still working. That way I don't lose out on income, plus it's a bit cheaper.
Of course it might not give me the same value due to fewer networking opportunities, but hoping I can still make the most of it. I think it also gives me more value compared to someone who has been in business/consulting already.
I'm starting at Warwick in January. I think there are three separate weeks across the 2 years where you attend in person, so some networking should be possible
I’m in an MBA program right now. If you’re worried about losing income from not working, I would recommend an in person but evening MBA program. 100% enjoy/get more out of my in person classes than my online one. Plus I feel like the true benefit of an MBA is the networking which is way easier in person.
I’m not sure an MBA is a good choice if you want to move into tech. My MBA enabled me to pivot from engineering to consulting. Salary immediately went up about 30% from memory. For tech I would look into specialist courses or accreditations in your target niche to ramp up faster.
What is your YOE / TC / background?
I did a T15 Executive MBA with 5 YOE and have been able to double my salary from pre-MBA in 3.5 years. Currently 1.5 years post MBA.
4 YOE currently making 100K in consulting at midsize firm. Been with same company since graduating college. Hoping to apply to GSB or HAAS to stay in CA