Guys,
I have to make a decision and I would really appreciate your input (hoping to squeeze out some of the brainpower from this place).
I am currently working for an MBB in the CEE region with a tenure of ~2 years and I now need to decide what to do next: push for direct promote to post-MBA level, go to MBA and return, go to MBA and do not return or leave the firm without an MBA (you can add other ideas if you feel like it).
The problem: The office I am in is relatively small with few consultants and projects. As such, a lot of time is spent not doing projects and doing internal work (utilization of around 60%). This limits my development but I expect this to improve as I increase my tenure. Also, because of the above, there is little power in choosing industry/projects and have had both very positive and very negative experiences. Lifestyle is poor with a lot of travelling and an average of 70 hours p.w.. Oh, and the leadership not very inspirational.
Now I have been pondering on what my next move should be:
1) Push for post-MBA position: there is a 50-50 chance that I can be successful in this.
Pros if successful: you get the best ROI as I could keep earning $ in the time I would otherwise do an MBA; also, I would get more time to develop my skills directly
Cons: I stay in a job that is not as good as it could be.
2) Go for MBA and:
2A) Return to former employer:
Pros: would put me in a better position to get staffed, I would have a blast during my MBA as I would not need to spend time doing recruiting stuff, return salary after-tax would be good
Cons: need to stay with the employer for 2 years and would make most sense to leave after 3-4 years actually (in order to develop project management experience)
2B) Use MBA to switch employer/industries: I would like to switch to more finance-focused jobs (incl. IBD, despite the crappy lifestyle) or tech
Pros: Would most likely switch to a different industry and city (most likely London); Better long-term career prospects.
Cons: Over a five year period, I would lose ~150K EUR (vs returning after MBA) due to: BSchool tuition and interest, reduction in earnings (net salaries in London would be lower due to higher tax rate and cost of living)
3) Leave the company, without MBA: I would have to find another job in the same country (due to personal reasons only applicable if I don't go to an MBA) and salary-wise there are very few jobs that would be a match.
Notes:
- I would have enough savings to support my living expenses for 1 year (internships would help me cover other costs)
- Target schools: LBS/INSEAD (easy to do recruiting as I can work in the EU, could afford living expenses w/o loan), H/S/W, MIT, Booth, Northwestern, CBS/Stern (for New York).
- I am very open to moving outside Europe, as well, but I am aware that it would be difficult to get a sponsored US work-Visa.
sorry for the long post.
Hey, I was in a similar position to you few years ago and decided to leverage the global staffing model and focus on global projects instead of the local market. Not that the lifestyle improved dramatically but I had a) far better selection of available projects allowing for more pick & choose b) I worked with inspiring managers / leaders from all over the world c) it allowed me to reduce the bench time & client development work resulting in an increase of utliisation and stronger case for promotion (didn't do MBA) d) I worked on bigger clients and more complex projects than I would have in the CEE. A second option that comes to my mind - have you considered an internal transfer to an office in another country? London/NYC/Australia/New Zealand - or if you speak German maybe Dusseldorf or Munich? You've been at the firm for long enough to actually to that - speak to your Partner / counselor about this.
How well does CEE BBM place into the MBA programs you mentioned? Specifically, HSW? I find that with that info, it's easier to evaluate your situation, as I'd argue that theres a difference between heading towards INSEAD/LBS vs. HSW in terms of assessing the value of the MBA for your further life & the possibilities after. E.g. 1 year programs make job transition more difficult than 2 years (exception january track INSEAD), INSEAD/LBS have relatively old student body etc.
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