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Rising Star
That’s because it depends on the brand. Someone who went to Harvard will likely see a difference and be satisfied. Someone who went to a no name school may not see a difference. For me if you have an ivy undergrad you don’t need it. If your undergrad doesn’t have a strong brand then you absolutely need it.
Some people with an ivy undergrad may benefit if they are looking to switch industries or didn’t get MBB out of UG. People on this app act like everyone at Ivies gets attractive offers or is immediately able to leverage network. That is only the case for some. You are correct though it’s pretty much M7/T10 or bust if you do have that background.
The value depends a lot on where you're coming from and what MBA you get. For many in consulting, they don't learn as much since they've already learned a lot on the job but the network and connections from a great school help a lot. If you're looking to change careers into business, it can be very helpful
So then does part time MBA vs full time mba make a difference in terms of value apart from the networking component? I’m also in tech consulting but thinking of pivoting in the future. Not sure if I can leverage the mba 5 years from now to pivot as much as I could if I get it now and pivot now. Just curious
I don’t understand MBA admissions. I understand the need for a diverse class (wrt breadth of professional backgrounds) but it seems insane that consultants, bankers, tech people are docked while random fashion people from T200 liberal arts schools with no actual business experience can waltz into HBS???
In some cases those individuals may add in a financial component for the school (ie donors kid) unfortunately you see a lot of that from higher ranked schools as well.
Rising Star
This comes up frequently and is the age old question…
1. Not all MBAs are created equal. Top 5-10 should be the target zone. Top 11-20 should be back up zone. Beyond that the return (both employment opportunities and network) diminish significantly. Now, if you’re in a career with modest salary and slow trajectory, <$75k, this kind of goes out the door and any MBA could potentially be beneficial.
2. Top MBAs are good vehicles to switch career paths while not taking a hit on total comp or having to start over. However, there is an opportunity cost which must be considered. They are also good if you miss a recruiting opportunity out of undergrad- gives you another shot.
3. They are less common as a requirement for progression than they were 10-20 years ago. This goes for VC/PE, top banks, and consulting firms. Many have removed the requirement or “encouragement” altogether.
Hope this helps
Might be possible to go to a lower ranked school and get a scholarship (though I think the higher ranked ones are better investments) or have firm pay for all or part of it. I have found it useful even staying in consulting.
Chief
I mean you’ve summed it up, right? It’s not a replacement for experience, in the same way a Bachelors degree is not a replacement for experience. It is an expectation for entry into some areas and totally superfluous in others.
What are you trying to accomplish? That will determine for you. Don’t do it just because others did.
Chief
It’s tough. FT would allow you to focus and build deeper connections to that network. PT obviously you get to keep your income and work FT while in school. So, less upside from the MBA but mitigating some of the hard/tangible opportunity costs.
I’m not sure I have a strong opinion, it’s really about your preference there
85k pre MBA
100k during PT MBA as boss thought he might lose me.
125k upon graduation (promoted to Manager)
200k jumped to industry (am pretty sure my MBA was a point to get there)
Better yet, EY paid for a portion of the MBA.
Is it expensive, yes. Can it backfire, yes.
Think they're talking about the 5-6k some companies offer a year. Chump change compared to MBA cost but still something
Rising Star
It seems on the strategy and business side of things they want both.
From my side on the tech end of things, it wasted time and money so, take that for what it’s worth 🤷♂️
The value add of an mba is pivoting industries.
Get the experience first then get MBA, if needed.
Pro
I’m in the same boat. 27 next month and 4+ years into a career. Strong chance I can hit manager level by this time next year, at which point there’s not really an immediate (or maybe even long term) payoff salary wise for me to go get one.
I’ve always held it in my back pocket as a pivot move if I want to change career trajectories. Much easier to get the credential and jump as opposed to applying for roles where my experience doesn’t truly align.
Career paths, personal aspirations, quality and strengths of particular MBA programs are so diverse that trying to apply general rules the way you are is silly. The particular school / program has to make sense for the individual and what they are trying to do in their career.
Just get some online MBA. Study harder, take on extra business cases. Networking is the hardest part, but what counts is the first job you get after graduation from it.
This topic is literally the second most listed topic on the app…right behind: ‘I make $400k and feel behind my 23yr old friends..’ 🙄
Knowledge and learning will never justify an MBA's price tag.
There are two clear cut, logical cases reasons to get an MBA:
1) pivot - you want to do something or be somewhere you aren't
2) you have a hard ceiling in your org, you want to stay, and you need the MBA for advancement
In my view, all other scenarios are emotional justification and won't provide substantial long-term ROI. It may be "the best two years of your life" but at a six figure price tag, there had better be material upside.
Fair point on tech
You don’t get an MBA to learn. You go to network, get a name on your resume, and access the alumni network. And party for 2 years. If you don’t understand this, you are at risk of getting a degree that is not worth what you paid in time and money.