I created a new account separate from my regular WSO account to maintain anonymity, so hopefully this question doesn't get disregarded as trolling because the answer is probably self-evident.
So I'm in my mid-20s, making $300k+/year in a director-level F500 position typically held by MBAs 5 years post-graduation. I previously made a few million from start-ups being acquired (so I can pay for a FT MBA easily out of pocket), and am in the industry/function of choice (not stuck in a technical role).
The long-run goal is to stay in the industry, and keep doing what I did prior to the F500 - start-ups and VC.
I don't have any near-term ideas for start-ups that are worth incubating right now, and I don't really need a break either. The only catch is that my college degree is a state school, therefore I lack pedigree or for that matter, any graduate degree.
Since I'm in the sweet spot age-wise for MBA admissions to, are there any long-term benefits that would justify doing a FT MBA and breaking my momentum? My hypothesis is no, but curious if there is something intangible or relevant in the long-run that I'm missing.
A friend of mine was in a similar situation.
He decided no, then made so much money on his second company (>$50 million in the late 90's) that he got bored.... So he did an EMBA at Columbia when he was 31.
My friend was in a very similar situation, a philosophy major from one of the good Canadian schools (Mcgill)
He decided not do it. 5 years later he sold his second startup for so much money (he personally made >$50 million in the late 90's) that he got bored... So he decided to do an EMBA at Columbia. For the record he said he learned absolutely nothing from the program.
The next company he built he started with friends from grade school, so I guess b-school networking wasn't worth much. The pedigree may have helped him because he was the CEO and face of the organization, and I guess it's possible that it was easier to raise funding because of the credential... But he would've been ok without it I'm sure.
It honestly looks like a no lose situation for you.
First I'd love to learn from you to have some more disposable income if I can.
Second, I think it depends on your risk profile. Startups and VCs have higher fail rates than F500s, so the worst possible downside might be such that you have no money and no startup (probably very unlikely anyways)
in that scenario, if you believe you might need some help with the school brand (alumnis, career services), then you may find the MBA network expansion worthwhile (read: MBA probably not online MBA or the part-time EMBAs).
Otherwise, if you already have a strong network, and in bad situations that your existing network is enough to lift you up, then maybe you can save some fortunes.
Why exactly are you working for the F500 now? Most F500 guys and MBAs want to be where you are right now. In VC / tech the prestige is in exits and being an early investor, not MBAs so im not sure it would provide you any additional optionality in the future. When it comes down to it, if somebody is more impressed that you went to HBS than that you exited / invested in a business making you $X million - that person is an idiot you don't want to do business with.
Interested to hear others thoughts.
The short of it is that you're in a pretty great position. Your net worth is enviable for your age, you're several rungs ahead on the corporate ladder for your age, and you have credible successes (multiple, not just one) under your belt.
An MBA isn't going to do much for you if you want to go back into the corporate world. It makes no sense to leave the F500 for two years and $200k in school costs only to return later. If you want to get funded as an entrepreneur again, an MBA isn't too much of a credential; as you probably know, there are a number of VCs who hate seeing an entrepreneur with an MBA (that number is waning). Your prior startup experience is going to be much more valuable, and with multiple successful exits to your name (you must have been a founder or on the founding team for your equity to be worth seven figures), everyone will take a meeting with you.
The real value I see in the MBA is if you want to be a VC. Again, your operating experience means a lot of VCs will want to talk to you about a Principal position regardless of grad school. Some firms, however, will want a senior hire to have an MBA, (whether you want to work at a firm that places a premium on something so arbitrary is up to you).
The value wouldn't be in the classes, it'd be in the network and the two-year free pass to email absolutely anyone in the world with "Hey, I'm a student and I have a question." The network will be useful in (i) dealflow - all the entrepreneurs coming out of your class and the ones immediately above and below yours who you overlap with on campus ... plus your ability to go back to the entrepreneurship club or campus lab or annual conferences as a member of the tribe, and (ii) when it comes time to support your portfolio companies - easy to shoot an email to your classmates or anyone else in your school community at any company one of your startups is trying to sell to, buy from, or partner with.
Were I in your shoes and interested in an investing role, I'd be looking exclusively at Harvard or Stanford, and if I went, it'd be for a two-year period to get to know as many people as humanly possible and to have the free license to get in the inboxes of every single VC on both coasts. Regardless of which firm you ended up at, you'd have a long headstart on all the new associates coming out of b-school who then spend a year or two trying to get to know their counterparts at other firms - you would have already known all the partners and principals from flying around to meet them (shouldn't be an issue given your liquidity) and being in good email contact.
You could probably come out of the MBA into a Principal role. You should also look into the Kauffman Fellowship; your profile probably beats all the other applicants.
In short, there's value if you're looking to move into a senior investing position. If not, then way less so.
This makes perfect sense. I really appreciate the detailed and thoughtful replies.
In short, there could be some benefit from venture capital and investing, but I guess it depends entirely on how deal flow is sourced, and how networks are built in your particular industry vertical (i.e. do the people that matter in that industry intersect with the people holding or attending MBA schools).
You are one of the most successful people in your age group. With your credentials I would be stunned if you don't get into all of HSW MBA.
Given your current station and net worth, I don't see any economic or professional reason for you to go. There are 2 intangible areas that could be of benefit: first, a chance to interact with pretty smart accomplished people and potentially meet a future business partner and second, having a prestigious degree that could be helpful when out in the business world trying to raise money or make connections. Regarding the latter, my understanding of startups and VC is that pedigree is not as nearly as important as actual prior success in the space and technical/operational know-how. In terms of the former, I do think there is some value, but I don't think business school is a great place to learn the ins and outs of starting your own firm. Although schools are trying to aggressively mold future startup tycoons (HBS' mandatory FIELD your first year is an example of this), the classes and case studies still rely on traditional business models. Outside of the classroom, yes, there are tons of clubs where you can explore your ideas, but at the end of the day, b-schools is NOT a startup incubator, nor should one go in with such expectations. Given how much stuff is going on in school, you're simply not going to have the time to be 100% focused on your startup ideas like you would if you were say at Y-Combinator or working on stuff in your free time outside of work.
This is not to say that you wouldn't enjoy HSW. I'm sure if you went, you'll have a great time, make friends, and overall have an enjoyable experience. But the key question here is whether the tangible benefits of 2 years at HSW will outweigh what you're giving up, not just in financial terms but more importantly stepping away from your rocket career trajectory. I think a lot of potential MBAs underestimate the impact of not working for 2 years, in terms of knowledge and skill deterioration.
Either way, you're in great shoes, and I'm sure you'll be successful regardless of what decision you make.
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