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For most MBA applicants, rationalizing the cost isn’t going to work. Most people that get into top schools don’t NEED the MBA to be successful. They do it for optionality, better positions / promotions down the line, to meet new people, to travel, to explore new interests, etc. Not everything is immediately quantifiable.
That makes a lot of sense, I think I’m just trying to figure out how like “networking at MBA” is convincingly better than “networking in consulting,” you know?
Mentor
Most people get MBAs to pivot into a different career path. You made good points if you like what you’re doing and don’t see yourself leaving anytime soon than I would agree with you, no need to spend the 2 years not working.
What percentage of those who get an MBA get those positions though, that’s also not a given either
I’m going to PE post MBA. 80% TC bump vs. consulting post MBA comp.
Subject Expert
Ah gotcha, thanks for clarifying and congrats on the great job!
I think your concerns are totally valid, a few thoughts: 1. Coming from MBB probably it still makes sense to do H/S/W. This is because you will be exposed to people with buy side backgrounds or stuff that is marginally more impressive than what you see at McK. Another element is that a lot of people at these schools are massively wealthy, so it helps creating a network of people who you would not otherwise meet 2. Many people simply need a break. My friends who started IB after UG are all in BX, KKR etc. They are crushing it and I doubt anyone will ever go for MBA (based in London, not NYC). On the other hand I am not sure I could keep grinding after 3 years in consulting, maybe I am weak but I just want to get wasted for one last time 3. Many people come from international MBB offices and they use MBA to relocate to US (it is not that easy otherwise)
Just one small point - no finance/IB/PE in London cares about MBA, period. Not the case in US where a lot of PE firms still want their associates to go get an MBA