Is a US MBA Worth it?
Looking for advice from incoming, current and former MBAs on both sides of the pond. I'm an EU citizen working in consulting in Europe. I am considering pursuing an MBA but have run into a roadblock with regards to where I should apply.
My personal work and life preference would be to stay in Europe. I'd happily move around, but all within the continent. Even with post-MBA recruitment, be it to a corporate role or staying in consulting, I plan on staying in the Old Continent. With this in mind, my question is: would going to the US for an MBA really be worth it all things considered?
I want to clarify that I am in no way suggesting US MBAs are of inferior quality to European ones, but would an American one give me a leg up in recruitment for European jobs? Even considering the respective best of the best (e.g. Harvard/Wharton vs INSEAD/LBS)?
Another point that came to mind which I would appreciate clarity on is the networking aspect. No doubt 90%+ of the benefits of MBAs are the network of potential clients/colleagues one acquires and I am aware than US MBAs create strong networks. For the purposes of my goals, wouldn't the best European MBAs also lead to strong continental networks? I know that people often land highly respected management roles from European MBAs, so I am skeptical about the potential benefit of an American MBA in this field too.
Lastly there is cost. No MBA is cheap, but American ones are particularly expensive and the added cost of moving across the Atlantic is also something to consider.
So, in summary, would a US MBA be worth it for a European career?
bump
If it’s at Stanford GSB or HBS, I would think the incremental benefit would be worth it. Any others, I’d probably argue it wouldn’t be worth it.
Really? Even compared to the top European programs? How much European recruitment do companies at US MBA career fairs actually do?
Are you being sponsored by your firm, or do you plan on re-recruiting for another consulting firm, or do you want to leave consulting?
I'm a European who did a US MBA; I worked in MBB Europe; and I've since left that (European startup world).
TL;DR: if you go to INSEAD, and you are 100% sure you want to stay in the Old World, then go for it and don't look back. You already know what you want, so don't be focused on other people's opinions of prestige.
More detailed supporting thoughts:
Overall, US business schools are better than European ones. The number 5 US school is better, in my and frankly, much of the global market's opinion, than the number 1 European school. INSEAD is somewhere between Tuck and Columbia; LBS is somewhere between Columbia and NYU Stern; and IESE is somewhere between UCLA and Duke.
Note: I love those European business schools. I was admitted to the ones I applied to; I have great friends and colleagues from them; I have family who are alumni. I can still think very highly of them, while also thinking the US Top 5 are definitely better.
That said, the European alumni network from a US business school is obviously weaker than their US network, and often also weaker than the European network of a European school. This is not rocket science.
I see INSEAD and IESE having very active and useful European alumni networks. LBS, surprisingly, doesn't seem very active.
INSEAD has the best European network. Booth and Sloan are better schools, but have a weaker European network. HBS, Stanford, Wharton are better schools, and have comparable European networks (requiring more in depth comparisons), but cost basically twice as much.
As you know from being a consultant, one thing is getting the interview, and the other is your interview performance. Your school has a large bearing on the former, while the latter is very much on you. At my US business school, getting European MBB interviews was a breeze. The interviews themselves were exactly the same as coming from anywhere else.
US MBAs have much less traction in European IBD. European bankers tend to hate MBAs. Something to bear in mind.
European corporates are more of a mixed bag. Many of them can't afford to hire US MBAs. Some prefer to promote from within; others hire the consultants on their projects.
EDIT: typos.
Thanks for the detailed reply. I still need to have an in-depth conversation with my firm with regards to funding the MBA, but it would likely be funded and taken from my salary gradually as I work back (essentially an interest free loan). If I re-recruit I would have to also consider that any new firm would have to buy out my debt with my current firm which is to be factored in.
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