Currently an S1 in tax. Trying to decide whether to stick it out in PA or try to do an MBA and pivot to IB. I think I would like the work in IB more and have a higher earnings ceiling, but I’m not sure if it’s worth the extra risk and putting my family through all the stress of moving and working through an MBA. Should I stick it out or go for it?

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If you can get into an M7 MBA, it's a no brainer imo. At the end of the day, doing tax for 40 more years of whatever sounds pretty miserable to me, and putting your family through that isn't great either.

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That’s a good point.

If your family can weather through the next 5 years (2 years MBA + 2/3 years IB) and can stomach the $200k+ price tag the upside is pretty good compared to staying in tax imo

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Yeah, I’m hoping to get into a T15 with scholarship or maybe Booth or Kellogg part time to help keep costs down. I’ve heard from people who have good results from those PT programs.

Im not sure if banks really recruit from part time programs. That was really during the boom post-covid but not so much anymore.

Just as a reference, IB as an associate is 80hrs a week on average every single week for ~3 years. That means ~14 hours days in office during the week plus time on weekend. Its going to be a huge burden on your spouse/ child. So before going down this path you should have a serious conversion with your spouse.

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I had the same thought a few years ago, I chose to stay in PA for a few years and now I’m a homeowner and just left PA to pursue a new career. I wish I had more money when I first made it to S1, if your family willing to support you I recommend you leave right now, if not, you can stay for another 5 years and see how things goes.

Right.

Are you married with kids? Really depends on that tbh. Opportunity cost of an mba is probably 500k plus without scholarship. (Tuition+Interest+Foregone Salary)

Married with one kid. Cost/risk vs reward is my biggest hang up. To bring some perspective, I think IB associates are compensated similarly to MDs in my service line, which will probably take me another 9 years to get to, so I think the opportunity cost favors IB, assuming I actually succeed at breaking in and holding a job. I’m also hoping to keep the cost lower by going PT to Booth or Kellogg, or getting a scholarship at another T15.

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