{ "media_type": "text", "post_content": "I'm 35, have 2 kids and at least 2 years away from Senior Manager. No debt. Really want to pursue an MBA. I want to afford myself the opportunity to move up in banking to a D/MD role. Is it worth it??", "post_id": "5ef2b2b0737b8b001cfe93d2", "reply_count": 30, "vote_count": 6, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

I'm 35, have 2 kids and at least 2 years away from Senior Manager. No debt. Really want to pursue an MBA. I want to afford myself the opportunity to move up in banking to a D/MD role. Is it worth it??

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I’m in the same boat. 37, one kid, contemplating the move to SM. Honestly, I’m leaning toward either staying at my level or leaving the firm. I want to see my kid grow up. I’m already effectively working 3-5 jobs regularly at Deloitte (multiple clients, multiple firm activities, business development) and don’t really want more work for what I consider to be less money than the role/level deserves. I’m not poor, and I have no interest in partner. So what’s my motivation to advance?

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Agree with D3. The motivation is to get to SM where the compensation levels go much higher and recruiters will fawn over you (as compared to SM)

Depends on who you ask. Being invited to the “big boy table”- as it was told to me, has its perks and downsides. Generally speaking, you WILL have a work life imbalance. You will work hard to keep that. If this were normal times, I’d say it’s worth it. But speaking for myself, your 2 years is likely going to be 4 and Big D has a lot of unknowns. What we do know is that promotions will be retarded, raises will be much less and AIP will be next to non existent. We know this. This isn’t speculation. There will most likely be more cuts. Our expense accounts were frozen. Yes, we get one. So, I would not think it’s a strategic move but at least you know what you’re up against. With that, the way to promotion is stay billable, find the most high profile SM and P you can find, tell them your goal and make them a shit load of money. THAT’S how you get promoted in 2 years. See work life imbalance as the consequence of the above. No way around it.

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In my last 3 years, I have held utilization of over 120%, published twice, and had my most recent client ask my PPMDs if they can offer me a job. Trust me, I'm pretty well-positioned.

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Do emba, it may fit your experience and lifestyle better

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M1 it varies and depends but I’ve seen it from consultant at big 4 to director at T2 strat firm. We look at applicants as a whole and not just a single metrics. In addition, we have fellow applicants section basically for people who are under 30 years old and less than 8 yoe (roughly 15% of the class or so) I was one of those guys that didn’t wanna give up my job and wanted to hang with the more experienced folks so I went with this.

If you go into banking post MBA, you’ll go in as an associate and need to work your way up to VP, then Director. Maybe it makes more sense to go into a middle office role at an IB as a director and shift into front office. I’ve seen it happen at my client.

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OP, that’s why an EMBA might be a better route or experienced recruiting without an MBA.

I'm gonna say F it. I don't care what other people think about whether or not its "worth it". How can getting a top flight MBA "hurt"?? I'm gonna go balls to the wall and get the highest GMAT score I can to get into the best school I can for myself and for my wife and kids.

likeuplifting

Best of luck OP! If you get an ibanking role you’ll certainly be making a lot more than $165k!

Motivation to advance would be to be doing similar about of work you are already doing for significantly higher comp + exit options.

helpful

Probably if u go to a top school and you want to switch careers

helpful

Coming out of an MBA you’ll be an associate along with a bunch of 26 year olds. Worth it to see if you can lateral to an associate role without an mba first

helpful

Great points 👏 will definitely do this... thanks!!!

Well, to be clear, no debt besides my primary home.

Sounds like you’ve done well. Congrats. Out of curiosity, at what age did you move from senior to manager (if you made this move)?

Made M at 32, just wrapped up my 2nd Manager year just now with sterling reviews.

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Op, I’m in similar boat. 33, manager, but in cyber, and don’t have dependents nor a debt. Debating whether or not emba or the exec certificate courses like lean from Stanford or MDP from Wharton add value. Long term goal is to fit back into a Dir or Sr. Dir in preferably TMT industries. Also, I’d not mind going into a start up right after emba for 2 years to then go into a large organization

OP : what are some of the programs you are considering? I heard MIT’s SDM is good as an alternative to mba

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