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Full time MBA is only worth it if you attend top 10. Otherwise do a part time check off the box MBA. It takes about 10 years or so to break even on the cost of paying for a full time MBA + two years of lost wages. By then, you’d already be SM or Partner level (which effectively renders the MBA useless).
Below is a rough estimate accounting for 5% raise per year + 15% on promotion years. I kept my figures fairly conservative because not everyone is going to make $150k out of college with an MBA.
You should know that a consultant’s answer would be “it depends”.
1. How old are you?
2. Married? Kids?
3. How much debt do you have?
4. What are your career ambitions?
5. Do those ambitions require an MBA?
6. Did you always want to do an MBA?
7. Will the entire funding come out of loans?
I just put some starter discussion points. Doing an MBA is a big decision and depending on how you plan to use it, will be a very valuable one too. You need to have a long conversation with yourself and some of your closest confidants and mentors. Once you have all those done, make your decision.
Oh, do you have your GMAT score? If not, start prepping. All the best
Also....when it comes to rankings. Choose your exec program based on your schools full time mba ranking.
The exec and part time mba rankings are worthless
Also...you should be able to get into a better exec mba program than full time
The real difference between the exec mba and the full time mba has to do with where you are in your career and what is your next step.
The mba gives you thr basic skills to be successful in business / consulting.
The exec mba assumes you have already developed those basic skills and are already crushing it professionally. It then prepares you to run major sections of the business
As for pay..exec mbas are usually crushing it. This degree either bumps us into a new level or it gives us something else to justify our salaries. For the most part mbas hold their value better than consulting names on resumes in the long run
Answer is always FT. Pays back many more X in both experience during school and after. Think about it from a value perspective vs a $ only perspective (as long as you don't have a lot of debt and family to support as is)
I know plenty of people that got their exec mbas while continuing to work in consulting and upon graduation had a pretty easy time getting an offer from mbb.
It is easier to join after the exec mba because you are competing to get in based on your actual work performance. If you have been crushing it before...them the exec mba is the cherry on top.
Op what is your age and level
Exec.
Go exec mba....which exec programs are looking at
I did that route and had offers to go strat
SC1 - 32, Senior Analyst, pretty much decided on EMBA, but always like to hear another perspective!
Well top 15 exec mbas are going to evaluate your work experience before letting you in. Senior analyst seems pretty early in the career track. Did you do something else before this career
What would you gain from an EMBA? If your company won't pay for it and/or it doesn't come with a promotion and pay bump then I don't see the point.
FTMBA offers way more in terms of recruiting and networking - the real values of an MBA
@d1 the exec mba provides a lot of value.
1. Your peers are usually dealing with the same issues as you. Everyone is crushing it professionally, most everyone is an svp, vp, ceo, etc. So my network is amazing and more appropriate to my level than an mba
2. We cover more leadership, negotiationx and organizal dynamics than mbas. We donless nitty gritty number crunching. The reason is that the former are more important to the types of issues we deal with at our level.
3. The emba helped to prepare us for our next major move. The schools we developed were all about running our own division, partnership silo, etc.
SC1 - Yes - military career