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The value of the degree seems low, in that you pay big bucks for information you won’t use. I view it as checking off a box to put yourself on a higher trajectory so you’re eligible for the promotion since you’ll be competing with other people that have the degree. You don’t want to give leadership any reason NOT to promote you over somebody else.
I think it’s most useful for entrepreneurs or people starting their own businesses. If you want to work for a McKinsey or a Goldman Sachs, you don’t need the material, but you need it on the resume.
So is the general consensus that an MBA at M7/top 10-15 put you on a faster track for promotion/comp growth?
I am in finance, have some tech skills, so wonder if I should try to get technical roles to increase comp/comp growth (but don’t like tech); or get an MBA to switch to a different career in finance (which I like better, but higher risk with putting 200k MBA investment down).
Lots of scholarships as well, especially if you are from an underrepresented group. Got a nearly full scholarship and doubled my salary from a top 15 MBA. Coming from a social sciences undergrad major, I feel that it’s significantly increased my business credibility and credentials in the long term and changed my career trajectory.
At my program about 20% of students got scholarships - they are merit based and many are focused on underrepresented groups
Think it depends what you are doing now and what you are trying to pivot towards. I generally think MBA is a bad idea unless you don’t have a business degree.
If you are already in finance I feel like networking, making calculated jobs changes, and certificate programs should be all you need!
Yeah I’d be patient and save the $200k personally! But agree to reassess in a year!
Does “tuition reimbursement” cover cost of MBA? Trying to figure out what that means when companies market that as a benefit
No it’s like $10k a year lol
MBA was good for me because I was stuck due to my undergraduate degree not being in business or finance. If your undergraduate is in those fields it's probably better to focus on some certifications that help you excel in your direct field. You probably won't need it to reach a decently high level and if you're planning to retire early won't need it for the later career executive positions.
Also highly dependent on your short and long term goals. For those like me who are looking for a career change, it’s one of the only paths that has a tried and true track record of success versus trying to jump from audit/tax straight into consulting
For anyone considering another degree, saving on 529 under your own name for tax-free growth.