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Dnt go for an MBA if you are comfortable with your current work ans industry. BTW it also depends on your years of experience.
Less than 3 years: Stay
Around 4-5 years: You could do an executive MBA from IIM A, B, C only if you are not interested in your current work
I loved my tech work. But didnt want to leave an opportunity from IIM. I was in this exact same dilemma :)
Be sure, if everyone commenting NOT to do an MBA has even purused a ivy league mba (IIM-A/B/C)..
Its utterly myopic to think that pursuing an MBA is all about a package u earn..! It's just a by product btw!!
1. If you don't pursue, you'll be the one who will face mid life crisis once you're 35.. You're young for yourself, but a burden to your firm...
2. MBA from top 3 institutes will give you peace of mind and value, where you can tackle sudden misfortunes..
3. Value in your firm - the kind of projects you will work on... You will have amazing career transistions..
4. Most importantly, the peer group and the network of yours - trust me - you'll never ever get in your normal life, here you will get to live to 100-150 of guaranteed future leaders...!
If you want to know more, ping me personally..
- IIM - A Grad, been there & done it!
@author. If you're already earning well then yes, it only makes sense from top B schools (Old IIMs + ISB)
PS: IIMB grad here and I totally agree with Accenture 1 above.
Following this thread.
Anytime..! Reach out to me personally - if you need any more info 😇
Rising Star
Here's a different though I can propose-
Go for the new job. Don't persue MBA now.
Post MBA salary would like to be around 15-20LPA fixed and bonus.
Have a good career for 3-5 years at this new firm. You'll raise by position and by salary in this time.
At around 6-8 years of total experience, look for options where leaders do MBA of 1 year (exec MBA) without leaving their job. Research on this.
Or
Go for executive MBA from CLG like instead or Stanford/Harvard. It's your way to get into C-league positions earlier than others.
Things to think-
At 6-8 years exp, your priorities will not be same as today. Family might play a key role for your decisions.
If at all you wanna go for MBA now, make sure the clg is in top 5.
Your YOE is in the sweet spot for a 1yr MBA from India. But make sure it is from one of the older IIMs. PGPX from Ahmedabad is at a different league. The remaining 4s are more or less the same.
MBA won't be a good decision in your case. You were able to secure 200% hike that shows you have potential. You switch to a start-up in a year, you'll be north of 30L with Stocks. If Startup does well you'll make money alongside.
Plus you will get a balanced, less stressful life. MBB jobs are extremely hectic compared to an Amazon SDE or Startup coder earning the same. Your options to switch will be more.
In very long term (15 years) you may feel stagnant and feel MBA would have been better, but that's likely only if you had made it to top at every move after MBA. Plus you should may sufficient savings by 45, you may be happy living a stagnant life :)
So I hope to seek all your guidance on what are non quantifiable benefits of an mba from a premier B schools and do they outweigh the cost for me?
Calculation of mba cost:
2 years no pay - 36 lacs
Student loan and emi - 37 lacs (NPV)
Instead if I invest the emi amount elsewhere at 12% interest I can generate 1cr+ in 10-12 years.
So net investment would then be 1.7cr. NPV ~ 1.3 cr
Thanks a lot! This is very insightful
Hi
I am in a similar dilemma. Also may I know the details of the position you got this package at ?
Pls dm
MBA definitely gives you an advantage over the long term.
Let's say you land in a top 3/4 school and manage to get a job in MBB/ Investment Banking. Your salary will be easily in the north of 40 LPA after 3 years or experience.
Evaluate and see if you'll be in a position to make 40+ lpa in your current job after 5 years. The gap will only widen with time.
Ofcourse there's a risk that you might not land those dream jobs in campus, in which case you'll be back to 20-25 lpa.
But if you're confident, then you should go ahead and do an MBA.
Do not go for MBA. Do part time MBA later if required.
I was in the exact same boat a month ago. Good pay and loved the tech. So what I did was get a sabbatical to join back the team in a higher role. Best of both worlds. See if you can manage something similar.
To add, I joined one of the old IIMs for my 1yr exec MBA. Since yours is a 2 yr PGP, I would suggest leaving your current work to go for it. If you're in the tech industry, work should not be an issue even during the pandemic.
Hey , apart from MBA , what are the other part time courses that can help me to have me a better package ,.
Currently I have 4.4 years of experience
Can anyone suggest me ?