Related Posts
Does Coforge pays the Variable full?
More Posts
Rising Star
Anyone going to PAX this weekend??
Additional Posts in Consulting
PwC and Strategy& are hiring - DM for referrals!
Chief
Top 10 books to read about consulting life ?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
If you think that Investment Banking and Corp. Development are more fulfilling career-wise, maybe. Other than that, hard to think this would make financial sense.
I’m extremely skeptical you’d find IB or Corp. Dev. more fulfilling beyond the $.
What are your hours right now btw?
Dude! You are making $200k and working 60hrs a week?? Stay there for a few years and build up a pile of cash. Then, you can look at options
Was given this advice by a young CEO that I’ve been working for recently, I think it applies to your situation:
the worst trap a young leader can fall into is putting too much weight on opportunity cost. When you’re afraid to take the next step in your career because your current job pays a lot you get stuck, you become someone who’s doing it for the money, and you lose your purpose.
Love it!
I think the $$$ is believable but the VP role and title is incredible. I think plenty of MBAs make $200K+ and still go for the network or fun. So there’s always some value. I agree the value to you is probably not as high but it’s more of a personal decision than those here make it seem.
I wasn’t a VP but also cleared $250K at 25 and chose to not go to business school. But every single one of my peers who went to business school cleared $200K before they left. With that said, they were all in finance 😢 so 60 hour weeks weren’t necessarily the norm.
The main point is: you can rationalize going and you can rationalize not going. Just a personal preference on the tradeoffs. I don’t think you’ll be “stupid” either way
How were u clearing 250 at 25? What were you doing?
If you go to grad school, can I take your job? ☺️
No…1-2 yrs in lost income and debt. You just answered the question for yourself.
You go to an MBA at your position to party, travel, make new high achieving friends, and live it up for 2 years in your mid to late 20’s. If you value that at all, it may still be worth it despite the monetary loss.
Otherwise financially if you can get to ~$150k all in by your mid 20’s, there is limited to no value proposition of an MBA unless you want to change industries.
People might scoff at it, but that 2 year break doing things may well be worth a lot once your older - imagine if you could do your junior and senior year of college again but with no pressure, actual real savings, and more maturity.
At your income level the debt will be overcome quickly - you can get significant financial aid if you go to a top 15 school instead of M7 and wait 2ish years before starting - you’ll have savings by then.
If you leave I’ll take your current role!
Maybe you graduated from High school with an AA at 17. Then you got your bachelor at 19. Started working for them right away. Then you had to work a little bit and be white so you can be promoted every 12-16 months. Yeah yeah
The insecurity in this thread is frightening. OP came with a legitimate question and could actually benefit from FB perspective.
Yeah man. That’s reasonable. Great outcome for 25, but not unrealistically good.
What does banking get you? What’s the goal?
Plus a M7 (hopefully) on my resume
Rising Star
You don't need an MBA. You'd be hard pressed to find a post-MBA with this starting salary.
How does being male make a difference? That needed to be said?
Agree with most of the fishies on here. I’m in my mid 40’s, with my MBA and I’m now close to cracking the 200k threshold. If you really are making 200k at 25, then keep doing what you’re doing, since you’re doing better than 97 or 98% of the US.
Wait a few years and have the firm pay for your Executive MBA.
You’ll be golden either way! I was making $5/hour at 25. Now I’m 38 and at $250 (non-MBA). IB will burn you out. Think of 27 year old you crushing 80+ hour weeks for marginally more to start.
From a career perspective, very hard to say but if you’re already doing so well at work then it is hard to get that payoff / recoup the oppty cost. However from a life experience and fun / enjoyment perspective I would HIGHLY RECOMMEND doing your mba. It’s the time of your life and you meet tons of amazing people.
This. Might not be a good financial reason but a a real consideration.
Similiar boat but not 25. To me it’s not worth it at all. Your current position will teach you anything an MBA program will or even more. You can network, but again your position should allow you to build steong connections anyways.
Not all learning is on the job.
If you are making 200k at 25, you probably don't need the MBA.
If you really want to pursue your masters consider an evening/weekend program and you may not need to quit your job.
Was in your shoes and went to INSEAD (1 year program). I think money-wise it might not add much (or won’t add anything in the short-term), but it was an amazing experience to study on 3 continents, meet people from 50+ different countries and get connections around the world.
You could also wait a bit more and do an EMBA later like some folks here said. Or if you have a good cushion you could go to some incubator and start a business instead.
I’m just saying if you 100% know you want to go into banking, and you 100% don’t want to go back to your prior industry, INSEAD could check the box, but it’s not really what the school is known for. H/S/W Booth and Columbia are huge feeders to US IB and much easier to recruit from. You’ll have people from every major office from every bank on campus recruiting interns. Based on INSEADs numbers I doubt they draw the same kind of process. Going to be much more you pushing for what you want. That’s not a dig on INSEAD at all but in reality not every school is equal for every industry and every geography. INSEAD is the best school for sponsored students going into consulting, and is a huge consulting feeder in general but less so for IB.
Stay at the job and go into an executive MBA program. It’ll cost more but your cohort will be better and you won’t lose the salary. It will be an exhausting 18-24 months though so be prepared.
The only people I know who liked their executive MBA programs are people looking to advance in their own firms. The network value is pretty low, actually, it’s a lot of very focused people trying to qualify for the next level up in their own org. If OP wants to get into IB, full time is the way to go. Plus, EMBA under 30 is a hard sell (and harder socially).
Part time or executive MBA would be worth considering if you really want to.
Do you have CFA?
Critically what are you hoping to get out of the experience?
Rising Star
No