Engineer torn between Full Time or Part time Long Term
EDIT: Just found and read Charles Aris Compensation Study. Looks like I was wrong. Full MBA appears to be well worth it. But I would still appreciate any further insight. What about MBA straight into industry?
I'm currently 27 working as an engineer in an electrical utilities co-op. Making 60k. I was originally set on going to a full time MBA, but now I'm second guessing myself. The reason being I now know how much managers and directors make at a smaller company and I'm comparing it to what I have read about exit opps after MBA and consulting.
Our engineering manager started at around 130k and a few years later was at 160k. Our director of electric opps pulls 240k. The only thing is bonuses are much smaller, a 5% max based on company performance. I'm doing well and am confident I could eventually reach manager, maybe director level in another 20 years if I jumped around co-ops. If I go to a full time MBA, I am currently leaning towards consulting, but am interested in the financial sector as well.
From what I've read on here, if you leave consulting as an associate, you are likely to be a manager at a F500 pulling about 115k and a 5-10k bonus.
If you leave as EM, you could be director of a F500 making about 190k total comp
Leave as AP/Principal, you could be VP, and I'm not sure what they pull.
I always thought leadership positions in F500 would blow the management positions at a smaller co-op away. But unless I'm really wrong, that isn't the case.
So my question is: am I better off getting a full time MBA in another 3-4 years (assuming i get into a top 20), or just keep working here, maybe get a part time MBA and try to rise to leadership. The reason I was thinking of going full time in the first place was because the salary ceiling here isn't as high as I would like. There would also be less competition here. Just looking for some advice, as this is a huge decision.
I have tried finding median post MBA salaries 10, 15, and 20 years out to no avail.
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