MBA Value - My Situation
Long story short, will be starting at EB full time and attended semi-target. Have already started to think about long term prospects like everyone else, particularly the value of an MBA. For someone who is already in investment banking, where I wanted to be, but doesn’t have the family connections and traditional school prestige from undergrad degree, is an MBA worth it in the future?
I’ve thought about it a lot, and would only do it if it meant attending a top MBA program. But say in my late 20s I wanted an excuse to take a 2 year break from IB and gain a powerful network, is that a good reason to pursue an MBA? Have no debt from undergrad, and can begin saving for future life/educational goals thankfully. Would appreciate any commentary, thanks!
I have heard of individuals pursuing an MBA just for that reason, but personally that would not be enough for me.
Also - nothing comes for free. It's not like you all of a sudden get a 2 year break and strong network. You are looking at $200k in debt that you otherwise wouldn't have, months of studying for the GMAT, months of preparations for your MBA applications, interview prep, etc...
My thoughts - keep the MBA in the back of your mind. Study for the GMAT if you have the time to do so. Don't actually go for your MBA, unless you have an absolutely need for it.
What may be some of your needs? Your firm may have an up and out policy. If you don't perform, maybe they want you to leave/do an MBA. If the long hours don't suit you, maybe you need an MBA to transition to another role (Tech - PM/Internal Strat/Corp Fin, Ext Cont, etc...). Maybe you want to break into PE, given you have IB experience - MBA may be a cherry on top to pursue it (not always required).
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