When is an MBA worth the cost? I did way better than expected on the GMAT and would love to go back to school, but I don’t know if I could ever justify taking on student loan debt at this point in my life.

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Depending on your GMAT score, job history, target schools, undergrad school and GPA, and demographics, scholarship $ maybe very feasible. I don’t qualify for any demographics based scholarships and still got my mba with full merit $ by going to a school considered slightly less prestigious than the best places I got into. Had plenty of friends who did the same. All wound up in jobs comparable to what we likely would have gotten if we’d gone to the M7s that admitted us.

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For me it was a pretty straightforward balance between current long term earnings potential and (realistic) post-MBA future earnings potential. Plus a couple of more personal but less quantifiable reasons (career change, network in new country).

Where my career was pre-mba compared to where it is now would have been impossible, and my long term earnings potential has radically changed. So in that sense it was very worth the cost. Clearly that’s probably not the case if you are already well paid, have career traction in the sector you want to be in and are not looking to move to a new area/country.

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