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Can anyone please case me today?
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I completely disagree with A1. Trying to get the cheapest degree possible is very shortsighted. An MBA is, in part, a long-term return. I personally think you should go to the best school that you can get in to. The recruiting opportunities at a top 10-15 school are unmatched, along with the doors that they will open up and the network that you will gain.
But in all seriousness OP, you can’t expect to receive advice from the smart people here if you ask an extremely vague question and don’t provide a single detail about your situation.
@walmart if you are making $80k pre-mba and $140k post-mba, assuming you take $200k in loans, you are essentially spending $360k due to foregone income. However, you are making $60k more per year, so there is essentially a ~6 year payback period, then you are in the black. And if you assume equal percentage raises, it would be even more in the black since you are making the percentage on a higher salary.
To answer your question, if you assume a 40 year career after your mba, and holding everything constant, 40 × 60,000 is $2.4m. I'm on my phone, so I won't do an NPV calculation, but the opportunity cost (next best alternative) would potentially be to make less money.
Quite the measurement P1🤣
It will definitely help your pay. And more appeal for manager roles outside the firm.
I personally wouldn’t focus so much on the school tho. Just get the degree for as cheap as possible!
I started my part time MBA earning $65k, I left earning $147K+ 20K in bonus. It was definitely worth it for me.
Yes it will. Figure out what you want for your career. Have an honest discussion about why you want your MBA. Manage the debt well. Don't be entitled or live up to the MBA stereotypes. Network and make friends while in school, that is the most valuable piece of the MBA equation.
@SA1 that’s a lot of assumptions. Some industries do not value it.
I make about $180K now with 3 YOE in Tech. A fresh MBA makes around $170K, so would be negative ROI.
I’m debating it myself and it’s really hard to figure out how it could possibly be worth it, especially since I don’t need it to advance.
If you have the money, do big things. But I’ve seen people, including myself, get more money than peers for just having any decent masters even if it’s not an mba. And not necessarily from a big known school
I’ve seen more people frustrated with their loans than notice a difference based on the school they went to.
Biggest benefit I see personally is if someone is paying for your school directly because of the tier of your school
Good luck OP
Yes
MBA is useless. What’s the opportunity cost ?
What firm are you in now OP? What industry do you want to be in?
It depends on the firm/title/pay level that you’re exiting from.
Any thoughts on full time vs executive/blended MBA formats? Some great schools offer blended programs (in-person/online classes based on work schedule): UNC Chapel Hill, Rice, Carnegie Mellon
It would impact relatively little in the long run. In the short run, it can boost income significantly and open up a lot of doors previously unavailable to you. All of this depends on the industry targeted as well
Honestly I’ve never heard of anyone making $60k a year more for life just because they have an MBA. how many people actually make that much more money? For most people’s jobs a MBA will not improve their skill at their actual job
I was recently at a job where my manager had an mba and I did not. I changed jobs and I’m likely making the same salary as him now
This is just a 20 year estimate, already about a $1.4m difference between a top 10 mba and the average undergrad degree. This is also one reason I previously said that you should go to the best school you can get in to.
@Linkedin1, you are definitely an exception, at least monetarily