Buying a home while pursuing an MBA?
Basically title. Let me know if my vision is messed up.
To preface this, assume I'm living at home and commuting. I could move out and rent but that would make it even harder and I have very loving parents who housed my Doctor / Lawyer siblings until 30ish. Not that that's the route I want to go. Anyways:
Graduate at 21 - 22 // Work as an analyst for 2ish years, pay off school (0) // Pursue MBA at 23-24 // Graduate at 25-26 (Conservitavely -120k) // Pay off debt and get a down payment ready at like 28-29?
My bad for the napkin math but you get the gist.
This just concerns me. A big reason I want to get into IB is the opportunities straight out of undergrad but everyone destroys part-time MBA's. Does a MFin give you the same opportunities? I hate the leaving, working and going back to school concept of an MBA. Thanks in advance!
read it wrong the first time. what I did was buy a place before MBA so that I could get approved for a mortgage using my last 3 years of income. From where I am from, they look for your last two - three years of average income to determine your mortgage amount
Just a few things for you to consider:
Where are you at in your professional career? Can you land an analyst gig at a reputable platform? If so, pursue this approach and table business school for now. An MBA might not be needed if you can land an analyst role and transition after your analyst stint.
It will be quite difficult to get into a reputable program with only 2 years of work experience, as most programs emphasize significant professional experience (4-5 years) prior to matriculation.
What's the rush in owning a home? Keeping up with your older siblings? If anything, homeownership could potentially limit your post-MBA career opportunities. Furthermore, with the consistent discussion around an impending market correction, why would you pursue heightened levels of leverage at this time? Homeownership, depending on the locale, may not be as attractive financially as in past generations.
I have no intentions of being crass, but I am of the opinion that a part-time MBA program will add little value to your professional experience should you land an investment banking analyst role.
At soluta explicabo neque cupiditate. Vitae assumenda harum odio provident animi adipisci. Impedit nihil consequuntur officiis eveniet et officiis. Numquam aut ipsam corrupti ab fuga. Expedita non nemo nemo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...