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The only reason I did an MBA was because I wanted to change geography. I could not justify the incremental value of MBA for someone in the US or other developed market, who already has business background and especially if they already work in consulting given the massive cost (opportunity cost + direct cost).
Both I and my wife did MBA but almost for no direct cost. I am not saying MBA has no benefit but there are very few situations in which the benefit deliver 200-300k value even in the long term.
I was making $40k a year 9 years ago prior to my MBA. I’ve now more than 10x that. It makes sense only if you get into the top schools that allow for such growth at the cost associated with the degree.
The thing is you made it into BCG. What is the chance that you would make it last year or this year with larger class sizes and halved recruiting across MBB ? Maybe, you were exceptionally good, and could still make it. What is the chance that average MBA student, even at top school makes it into MBB ?
The real question is - is the incremental chance (relative to working your ass off networking outside business school) MBA creates to get into high paying careers worth $200-300k? That answer depends on a lot of personal factors as well as timing of when you do your MBA
I’ve heard both sides of it, and really it just comes down to your reasons before you decide to pursue it. If you are doing it specifically just for one thing, a raise at your current place, then I could regret, because who knows what will happen with that. But if you have a lot of reasons, generally works out better.
I got my then employer to pay for it. The only thing I regret is not starting sooner
I did an MBA at a local state school. At 50 I did it more for interest and also to give me more opportunities outside of nursing/healthcare. I took a career break to care for my parents at end of life. Now I come back to the job market and so hard to get a decent job. I don’t regret the MBA since it enriched my life and wasn’t so costly. But I’d think very very hard considering your age, cost, opportunity cost. It doesn’t guarantee a high paying job.