{ "media_type": "text", "post_content": "I’m trying to apply for MBA in the next two years but the amount of tuition is insurmountable. Any tips on really saving, or leverage student loan really well? I’m trying to take the next step towards brand marketing or a product marketing manager, so any tips would be great re: the app process! 🙌", "post_id": "5f7e53df1980d1001af21313", "reply_count": 8, "vote_count": 4, "bowl_id": "5d2771fa908b0d001ba3c77a", "bowl_name": "Brand Side" }

I’m trying to apply for MBA in the next two years but the amount of tuition is insurmountable. Any tips on really saving, or leverage student loan really well? I’m trying to take the next step towards brand marketing or a product marketing manager, so any tips would be great re: the app process! 🙌

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I’d question whether you need an MBA for either of those paths and would seriously encourage you to run the numbers to decide if that amount of debt is going to serve you going forward (with increased earning potential). Brand marketing cares SO much more about experience than degrees (you could take a few classes and exhaust online resources for education, then move to a marketing job and grow upward). For Product marketing you could learn UX/design thinking, then pair that experience with marketing OR move into program management then into product marketing. Same notes apply: those jobs care about experience over education. That said—if you are committed to an MBA, and it’s not to go into business (founder), finance (trading) or with a primary focus on networking, then you can seriously dial down the $ by going to a state school, smaller program, that focuses on the learning—not the clout. Funding is tough—you’ll need loans it sounds like. Best thing for now is to MAX out your deductions and tax liability (401K, IRA). You could start a business (side hustle) to claim more deductions, maybe? I’m a business owner and was able to write off my entire education as professional development on corporate taxes. Major $ saver. What else. Don’t take private loans.

smarthelpfullike

I got an MBA. It checks the box with recruiters and employers, helps you negotiate. As for tuition, look for an employer to sponsor an executive MBA program. Many cover most if not all of the tuition

When I was in my MBA program I had a job on campus overseeing undergrad student businesses. It paid for a big chunk of my 2nd year. That said I’m 12 years out and still paying $500/month (with 6-7 years to go)

likesmart

First, if you are interested in getting your MBA and feel it’s important for career development you should go for it! I don’t know anyone who has gotten theirs that regrets it. 10 years ago, My manager told me that it wasn’t necessary for me to advance in the industry and get solid salary increases. While this is true, I learned more during my MBA program than I did in undergrad and found that it does offer a useful and applicable foundation for my day to day work. I worked full time at an agency and got my degree at night over 2.5 years. I do not regret for one minute the choice I made to get my MBA, even as I work to pay down $45k in loans (those checks definitely hurt each month). What I do regret is getting personal loans instead of federal loans. Personal loans won’t be forgiven or reduced by the government as administrations change and funding for college education is reviewed. You should look into your current company benefits - many organizations will provide some reimbursement annually for education as long as its job related. It won’t be 100%, but every bit helps! Many schools also offer scholarships for MBAs. You won’t know what you are awarded until you apply. You can also look at: -career focused programs; some take work experience and apply it to waive certain classes -transfer credits from recent undergrad to help waive some courses and save $ -credible online only programs Good luck!!!

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I am in the same boat I am a strategist but want to move into product marketing or a senior brand Strategist cause the salary for product entry level 100k but the cost for a good Mba program is 100k+ 😬 I cut way back on expenses got roommates, freelance, COVID has helped not to spend on social outings and gas. When looking at programs a lot of them sell their on campus resources new buildings but they price doesn’t justify their alum starting salaries. Look at where you want to work and how long it would take you to pay off the loans based on your current expenses. For product ther are certification that may be better for your budget or online Mba.

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