Should I drop out of my MBA to work full-time REPE
Hey Everyone.
Context: I am currently enrolled in an accelerated MBA program that totals 18 months total, beginning with a 6-month internship of which I completed 5.5 months already. I'm transitioning into real estate private equity ("REPE") from a non-finance background and currently interning as an analyst at a small, rapidly scaling REPE firm where I can see a future for myself. My CEO and VP frequently express their desire for me to stay full-time, citing my top-performing status and exceeding the other analysts and associates.
My year-end review is in two weeks. I'm thinking that if they promote me to full-time associate/senior analyst, I'll strongly consider pausing my MBA pursuit to work full-time. Otherwise, I will continue with the current plan in place, which is to (1) work part-time for a spring semester, (2) work full-time this summer, and (3) work part-time again in the fall semester and ultimately graduate in December. How would you approach the year-end review negotiations? If I stay in the MBA, I could lose the opportunity for an early promotion and full-time work immediately, which would be better than my best-case scenario of staying in school and working simultaneously, racking up debt, and then coming back to the same firm regardless.
Factors:
- Money: The MBA program's cost is a significant factor. By working, I would avoid ~$65k of debt and continue to work full time, a roughly ~$210k 1 year difference.
- Loss of leverage: They're hiring 2-3 analyst/associate-level employees, including one under me. However, I fear needlessly losing leverage within the firm when I leave for part-time studies as the top-performing junior.
- School Relationship: We all want to maintain a positive relationship with the school. The rest of the front office attended there, and they have a strong connection with the MBA program director who directly connected me with the firm. The school wouldn't be happy with me or the firm if they essentially placed me here and then I would leave before paying and completing my degree.
- Career Timing: Ultimately, I enrolled in the MBA to break into the industry and gain connections. I wonder if it would be wiser to pursue the MBA later if/when I reach a ceiling in my current trajectory.
Thanks in advance.
Hey there!
This is quite a pickle you've found yourself in, but don't worry, we'll peel it layer by layer.
Firstly, it's fantastic that you're doing so well at your REPE firm. It's not every day that you hear about a top-performing analyst who's also juggling an MBA program. Kudos to you!
Now, let's break down your situation:
Money: The financial aspect is indeed significant. Avoiding a debt of ~$65k and continuing to work full time, which results in a ~$210k difference in a year, is a tempting proposition. However, remember that an MBA degree also carries a certain prestige and can open doors in the future.
Loss of leverage: If you're already a top-performing junior, your value to the firm is clear. However, your concern about losing leverage if you leave for part-time studies is valid. It's essential to communicate your plans clearly with your superiors and assure them of your commitment to the firm.
School Relationship: Maintaining a positive relationship with your school is indeed important. If you decide to pause your MBA, it would be wise to have a frank discussion with your program director about your reasons and assure them of your intention to complete your degree in the future.
Career Timing: You enrolled in the MBA program to break into the industry and gain connections, and it seems like you've achieved that. If you feel that the MBA program is not adding significant value at this point, it might be worth considering pausing it and focusing on your career at the REPE firm.
In your year-end review, be open about your situation and your thoughts. Discuss your concerns and see if there's a way to balance both your MBA and your role at the firm. Remember, it's your career and your future. Make sure whatever decision you make aligns with your long-term goals.
And remember, as I always say, have compassion as well as ambition and you’ll go far. Good luck!
Sources: REIT career path to REPE, What was your path to a Real Estate Private Equity job? Looking for advice, Quitting to do REPE
What is the MBA program?
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