Consulting to MBA to Consulting?
After a few years of post-undergraduate consulting work as an entry-level analyst, my firm encourages pursuing an MBA.
After getting the MBA, the firm will reimburse me for the tuition costs so long as I return for 2 more years afterward.
In this case, the MBA seems more like a 2 year networking vacation that I could spend earning an income in the industry.
Is it worth it to get the MBA, should I return to the firm or seek new employers, and does the quality of the MBA program really matter in this case?
The quality of the MBA program always matters... unless you intend on staying with your firm for life. I've been looking into MBA programs myself, and this is a pretty sweet deal your employer is offering you. Full MBA reimbursement for 2 years of work after graduation is sick.
Think of it this way, since the cost of the MBA is free, you are only missing out on the lost income those 2 years. Lets say you make 200K in those two years, which after tax is roughly 125K. Even with PV and all that crap, I am almost positive you will make back 125K within 5 years should you attend a solid MBA program.(Top 15) Not to mention you can land a better job out of the MBA and maybe you can negotiate with your future employers regarding some sort of tuition reimbursement program?
Seems to me you have a lot to gain with little to lose
Taxes in Texas are a bit lower, but I agree with your assessment otherwise.
The decision should be based upon the quality of MBA program that I get accepted to. A non-top 15 program would probably not yield the same financial coattails down the road to offset the missed two years of work.
Thanks for your reply.
Your firm will probably sponsor Top 15, at most Top 20 programs. Taking the two years off for MBA also makes sense from monetary perspective. Seems like this year new MBA hires and interns are getting $130K-$140K/yr even for Texas/Atlanta locations. My guess is it will take you a while to get to that amount without the MBA bump.
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