I don't want to spark another general ,,MBA worth it or not" discussion, instead I'm interested in your opinions based on my specific situation. Some background info:
- European citizen
- 31 years of age (yes, old but quite normal where I'm from)
- Master's degree in Economics at a Tier 2 uni
- 2 years DCM at a Tier 2/3 bank in Frankfurt (think HSBC, BNP, RBC)
- 2.5 years Private Debt Fund at Tier 1 AM in London (think Pimco, BlackRock, MetLife)
Last week, I have been accepted at INSEAD for the full-time 1-year MBA program starting in summer 2018. When the program starts I would have 5 years of work experience in total.
Generally, I'm in a very comfortable position at work. The salary is fairly competitive (>$200k) and I have a good standing in the team. On the flip side, I don't feel very committed to my work and I start wondering what else could be out there that is more aligned with my interests. This is where the MBA comes into play. I see it as an opportunity to make a step back and to try out new things.
All this comes with a massive price tag of $130k, including tuition and living expenses. I know this is still cheaper than US schools, which was exactly the reason why I only considered 1-year European programs. However, when I add opportunity costs to the bill, it can get quite scary. The feeling of using almost all of my hard earned savings frustrates me but education is priceless, isn't it? I won't get any scholarships and my family doesn't have the financial resources to support me.
So, this is where I'm now, at the cross roads of either continuing with my current comfortable path and maybe look for new coherent moves within AM or maybe within corporates, or take the leap of faith and enrol at INSEAD and see what the year brings. I'm aware that it is quite likely that I may end up in a similar role again or even in a role that is far less paid, looking at median salaries in INSEAD's employment reports. I know that it doesn't make any sense in my case to look at it from an ROI perspective. The question is how much do I value the option / the bet that the MBA would give me, the new experiences, the new friends and colleagues and the network overall, as well as the signalling effect and the feeling of accomplishment.
I don't expect that you guys have the right answers for me but any comments are appreciated. Maybe one of you has been in the same position, attended INSEAD or has decided against an MBA, whatever it is please share your experiences with me that could be helpful in my decision making.