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At what age did you sell your first project?
I am a director pursuing my Exec MBA at an M7 school at the moment.
Personal View:
If your sole objective behind the MBA is pursuing Partnership at PwC, then it is not strictly a requirement, I have seen many partners without a formal business degree at the firm
That said, there can be several other pluses in consulting (or outside consulting) to pursuing an MBA:
- Depending on the school, MBAs give you a powerful network of classmates you can reach out to (yes, that includes winning consulting work)
- You can use your MBA to pivot functions or industry sectors after your career starts (which is much harder to do without formal education - you have to consistently get staffed on your target industry sector/function projects if you are in consulting)
- If you are looking for outside opportunities, MBA networks, your school’s career services, and depending on the brand of your school, even linkedin can help you land your next opportunity
- Lastly, depending on the classes you take, you can acquire soft management skills and/or specific skills such as marketing, accounting, negotiations etc. which are useful in consulting or outside
Pretty sure there are other pluses too such as increased compensation, I just listed the ones I thought were most impactful in the long run. All comes down to what your goal is.
Honestly, I wish there was a good answer to that. It is very situation dependent, but my top 3 tips would be:
1. Set clear expectations with your teams, and delegate aggressively (use the burning house rule - until you get an inkling the house is about to burn down, train up your teams to pick things up before you start the course)
2. Substitute money for time on the personal front - things you wouldnt previously spend on (cleaning seevice, or the occasional laundry or online groceries) - budget for it, because the hours and effort you save there will help
3. Have a clear understanding about your time commitment with your significant other (me and my wife have worked out how to get “us time”, and she has been incredibly supportive). I dont have kids, so that makes it a little easier, but even with kids the principle is the same
Bottomline - it is a lot of tradeoffs, just pick and choose ones you can live with!