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Only 2 more days till Consultant Friday!!
What’s your most important skill and why?
I wasted my youth being responsible.
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I went to Booth and feel it was worth it in terms of network, salary progression, and the course work. It’s also basically a two year break from the work force, which was awesome. I took out the max in loans (around 180K at the time), and just paid them off this week. I’m almost 5 years out of school.
I went to Darden, well worth it. My employer paid my second year, which helped. There’s also tons of scholarship money thrown around at Darden, esp for second years based on first year performance (and resume) - I had some
scholarship money too.
Hey P1, the scholarship money is coming from Darden for students that are doing well? How are they measuring that, GPA? Application?
I went to a Top 25 gave up two years of earnings and came out only making 15k more. The only reason I dont think it was a waste is because I went for free.
Absolutely, came in through military recruiting program, many of my peers are same level and salary without MBA...not saying it wont pay off down the road. I dont have regrets because it was a fun 2 years but if I had taken out 100k+ in loans like some people I would be pissed.
Wharton. Second year paid for by consulting firm where I did summer internship. Now, I work from home and make my own hours. I say go for it!
Get nervous thinking how hard it was for me to pay my undergrad debt of only $30K. Felt like the first 2-3 years I was only paying interest. Do people who graduate feel they can pay the debt on their loans and manage a decent lifestyle (apartment, car, kids, vacation) at the same time?
It depends on your life style and expenses. My wife and I have dual income and no kids, so it’s been fairly easy to aggressively pay down my loans. Between the two of us, we go on a lot of vacations but don’t live an extravagant lifestyle. We spend about $120K per year all in (but not including loan payments), so with salary progression post mba, it’s fairly easy to pay off the loans, put money in savings, and still live comfortably.
Took out lots of debt ($160). Likely worth it but it is annoying to pay back (but honestly doesn’t impact my lifestyle).
If you think you can achieve near (not necessarily the same) comp trajectory without, than skip. For me, no way I’d be in the 200-250 range in my late 20s without Booth
Got dat GI Bill baby! Nothing better than coming out debt free. Thou my knees and back are still paying for it
#arthritisforschool
I did part time program. It required time investments on the weekend but alleviated $$ stress and allowed me to continue progressing in my career
Took a gamble and declined an M7 offer for a full ride to a ~top 20 program. I never recruited for MBB, but Deloitte was the top overall recruiter (tied with Amazon) and I ended up at a tier 2 firm. This is just to say, there are options beyond H/S/W where you may not even need a student loan and still have a shot at the top employers
@A1 in the past I would have agreed with you but have read tons of stories on this forum of folks that worked in hotel operations, went to a top 30 school and are now earning >3X their pre-mba salary 2 years out. Completely situational.
Lol pretty sure you’re referring to me! Well worth it for career switchers like me who would have had no shot getting into consulting pre-MBA. Top 30 school here and don’t regret a second of my full time experience. I knew I’d need to go big with post -MBA job to pay the loan off, and I’m making progress. I consider my loans a long term investment and I pay $1500/month. It gets more comfortable the further you are out of school.
Went to top 15 school, came out 10k higher base but moved from services to consulting. Progression after MBA is double salary in 7 years
Went to top 20. Took out 120k in loans. On pace to pay off all loans within two years of graduating. Had a blast
Luckily had scholarship so didn’t have much debt. It was worth it.
Depends. I know someone who has an MBA and is barely making 70k. Tough world.
Yeah, which is why the person is accepting an offer at another big 4.
40k more!
Lots of debt, but nearly 2 years out of MBA, I make $90k more before bonus
Yes definitely worth it; repayment was super easy as my employer at the time paid for it.
Which/do any firms fully pay for an MBA?
Deloitte, ZS, LEK (pretty sure) in addition to the MBB already mentioned
Totally worth it. M7- went from $75k before school, all in, to $200k all in directly out of school. $200k+ debt from mba + masters + undergrad- plan to pay off within 5 years. Never could have made this $$ without the degree.
I think C1s strategy is good, particular at a UVA / duke / Tuck level school... if you can get a lot of $$ there can be worth it. However, M7 is still better option if you want to go in general and cost difference is smallish ( say less than 40/50)