Hi All,
I'm having second thoughts on whether I should try to get into a full-time MBA program or consider alternatives. Firstly, I've spent approximately 100 hours preparing for the gmat test.
I'm 25 (turning 26) and currently work in Big 4 consulting as a Manager in Transactions. I wanted to get into an MBA to move more upstream and learn about deal strategy and finance; I have the dream of starting my own firm one day in M&A integration/separation and believed the MBA would give me credibility in doing so. Partners in my firm and many external partners at boutiques (even overseas) have said to me that an MBA may not be worthwhile given my current trajectory; however, the notion of doing it, learning, networking and experiences I would yield overseas entice me.
Over Easter my family and friends reasoned me to believe that the cost (opportunity cost, salary and living expenses in London (using LBS as an example) of doing a full-time overseas MBA (at LBS specifically) would outweigh the benefits. They also made it clear that what i have is excellent and that i'm walking away from something great.
I'm stuck.
I want to go overseas for work and/ or study but I really don't want to take astronomical financial set-backs.
Which leads me to my second viable option:
Go on Secondment or Transfer with my firm and do part-time MBA at LBS or another target university.
What is everyone's thought on this and my current situation?
Please appreciate that this is time critical as I had intended to sit my GMAT in July.
Partners may be incented to tell you what keeps you in the company. Everybody knows a MBA from LBS is an ace card for salary debates or for changing jobs. Whether you do it full-time pr otherwise is a separate story
@whattherock" This is true for partners in my firm and I noticed this in the discussion which was based on whether MBAs are valuable. However, partners outside seem to share a common train of thought.
Yeah, conflict of interests is powerful. idk where you're based to take LBS as "overseas", but it requires a lot of things in the back end. hope you consider those to specify your MBA choices, etc.
@whattherock" I'm based in Australia - US or UK MBAs are much more valued than domestic.
Is there an issue in doing a part-time MBA while working for my firm over in London? Unless it's Tier1 consulting, Australians seem to be very relaxed about part-time/full-time; they are simply impressed by the fact I would have an MBA. AND I don't know whether it would be a good idea for me to branch out into pure strategy consulting to begin with!
online? fly weekly? and you don't have a life already with big 4. Ask yourself how can you make MBA of any worth except wasting a chance to recruit? or are you planning to just show your degree papers for a raise?
Doing a US/UK MBA without quitting is skeptical. It'd at least make more sense to do MBA with CEIBS HKUST or MBS if you really want to keep working....
@whattherock"
I travelled quite a bit while doing my CA and am travelling quite a bit right now while doing my GMAT prep. I agree Full-time would yield better results in terms of making a horizontal career shift; however I think part-time would be better suited for me if I'm looking to make jumps in seniority and potentially side-step a bit from the strand of consulting I do now.
People need to look at this like I'm already in consulting.
MBS - Melbourne Business School? I personally have no desire whatsoever to study in an Asian country.
Would your firm pay for it? Some would if they see you valuable enough to be around... If they think MBA is a waste of time, then it may be a risky discussion about sponsorship/making partner without an ace card to quit, but hey, you know the situation better than anyone.
I don't know if working part-time helps much. It could help locally, but honestly, you won't have enough life left to do any "side step" recruiting if classes are on top of your consulting dayjob...
@whattherock"
My firm would subsidise part of it if i was working while studying. I don't know of any cases in the Big 4 where people have received full financial support.
I would be working full-time, studying part-time. I think I would consider any side stepping toward the end of the program.
What are your clear objections against part-time @whattherock" ?
Hypothetically If I wanted to break into a strategy house then is this achievable on part-time?
I'd suggest you focus on the advice that Alex gave you below and don't let yourself be influenced by certain people.
Being a manager in TS at a Big 4 firm is solid. If you want the MBA to advance in this field and provide brand enhancement you don't necessarily need to go FT.
I see two things. One, you want an MBA for future career goals. Two, you want overseas experience.
IMO, you can try a couple things. You could get a transfer internally and build your experience internationally. You could do a PT program overseas OR you could work overseas and then come back and do an EMBA (Columbia in NYC, Booth/Northwestern EMBA/PT in Chicago, etc depending on where you end up working). You'd be an even better candidate with overseas experience and you could probably get your firm to pay for a bulk of it being at your level, with an overseas stint.
You need a FT MBA if you are looking to career change, but you can pivot internally with a well respected PT program. Issue really is how few of the top MBA programs offer PT options. The EMBA is really the most offered, flexibly program, but you're a few years off for that one.
If you have a chance to live/work overseas, then go for it. It's the kind of life experience you'll rarely if ever regret - and it seems like in the immediate term, that's what's driving you more than whether it's school or not - that is, the desire to experience living overseas. And if that's the case, financially speaking, better to do so while working than going to school.
You don't need to go to b-school this year. You still have a 3-4 year window (2-3 years at time of application) before your age becomes a material handicap for full-time MBA admissions.
If you get a chance to work in London or overseas for a year or two, go for it. It'll be a fantastic life experience. And then decide after you've been overseas for a year or two whether to apply to b-school or not.
Thanks Alex.
Wouldn't it be good to try knock off two birds with one stone if I had the opportunity to work overseas?
well i'm in similar situation but i convinced myself to apply anyway maybe i will have another change of heart
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