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You don’t need it. You’re already making a good salary with only 3 years of experience. Keep doing what you’re doing.
If you really want a master then just make sure capital one pays for it. No need to go out of pocket
What are your long term career goals? If you plan to stay at Capital One, you probably don't need an MBA.
Rising Star
Have an actual, written down plan that lists the tangible pros and cons/cost benefits. If you are wanting to get an MBA "just cuz" then just stop the analysis there as it's an absolutely bad idea.
However, if the outcome you want is better than what you have and it requires an MBA, then sure at least you can entertain the idea. Take the GMAT and apply to some places. However, with 3 YOE to quit that and borrow money to go get an MBA is quite the high opportunity cost. If you are going to entertain this idea, I really would only consider an M7 school and/or it's on someone else's dime (or you get a lot of money in scholarships).
Anecdotally, I know plenty of consultants coming out of HBS that start at around $160k and are $200k+ in student debt. If that's the outcome you are gunning for, I don't think it's worth it at all from where you are. If this were me, I would need a pretty damn good reason to put my career development on hold for an expensive MBA, even more so if you are married/kids etc. MBAs (even from the M7) are a dime a dozen now and not as valuable of a signal as they once were imo.
Doing an MBA right now, went full time online with the least out of pocket I could find, it's a checkbox for me to make sure in the future I'm not boxed out on a promotion or a job because I have one less box checked.
After company pays their share I'll be out around 4k.
LSU Shreveport is a cheap solid cheap option without sounding like it's an online only school.
what do you do and how did you get there?
Xx
Please do not listen to the people who are telling you that you do not need it. Because it will be expected or required by your employer later that you get your MBA degree in the very near future. If you look at most senior executive management positions they either prefer or require an MBA. If they prefer an MBA they will expect you to get one like I said while you work there in less than or at the two year mark. If not they might just terminate you and find someone else who is qualified.
I would not have the position that I have today at Goldman Sachs if I did not have my MBA/JD from Harvard University. Because in investment banking positions past the analyst level require you to have an MBA. If you plan on moving into senior executive management positions in the future it would be smart to get an MBA especially for senior positions in Finance, Consulting, and Strategy. Even though people do reach these positions sometimes without an MBA they are not well respected.
You can get it done at TopResume.com
Actually a lot of people would be shocked to know that you hold a senior executive management position without an MBA because it is expected that someone at that level be a holder of a MBA degree. They would be like I assumed you had an MBA because you have such a powerful and influential senior executive management position.
Capital one offers $5,250/year for tuition reimbursement. I'm about to finish my MBA in less than 2 years. It cost me $500~ out of pocket + cost of books. I'm getting my second masters, which will take about a year that work will probably pay for fully.
If you want to stay at CapOne forever, probably don't need an MBA. If you want to open more doors outside of CapOne, get an MBA and make them pay for it, there are plenty of places to do it online and for CHEAP. Don't know how? Google Cheap Online MBA, you'll find some hits.
Depends on where you get your MBA. Honestly, I haven’t found mine added any value to my career but if you are talking an Ivy League school then it certainly will help get you in the door at companies who don’t care about degrees from schools nobody has ever heard of. The curriculum is similar regardless of the school, but unless it’s a personal goal to have an advanced degree then you probably don’t need it
You probably don't need the academic part at this point and the 1 or 2 years spent doing it is a very big ask. The biggest benefit would come from meeting your fellow students. You should look into the 1 - 2 week executive courses at prestigious schools; this way you can have your cake and eat it too. Additionally Capital One would support and probably pay for this approach.
Don’t listen to the people who say you “need” an MBA. That’s bullshit. Getting an MBA now a days is the equivalent of someone getting very generic degree. Doesn’t mean much anymore. If you really want a master, get one in a particular subject matter area (cyber, data analytics, accounting, etc.)
Well worth it personally and professionally. After being with the same org for 20 years, I didn't know what I didn't know about what else was out there in the world!
If paid for by employer, do it. Will help you get higher level roles. Puts you above other candidates
Not worth it. If you only have 3 yrs of experience and you’re making $130k consider yourself blessed.
I got my mba 6 years ago paying out of pocket. The opportunity cost of doing a Full Time MBA is not worth it at all! If you are not going into IB or roles where network is more important, its not worth it at all. You will miss a promo, end up paying it off over next four years.. essentially setting you back by 5-6 years..