Hello! I am looking to apply to a MBA programme particularly LBS and hoping to do next August 2023 for enrollment in August 2024.
My main reason for the MBA programme is mainly for geography change as I am from Singapore and also hope to go into corporate role after I do a fair amount of time in consulting.
Will MBA worth the opportunity cost? Any advice is welcome!
hard question and in reality the best answer varies greatly depending on what you want out of the MBA. The choice will be different if you seek:
1. Significantly accelerate your career (go for the top 5 max top 10 worldwide)
2. Network (search which are most relevant by field/industry)
3. Challenge
4. Reputation
5….
There are many different reasons why people take MBA, if your primary reason is enter MBB, look for the target schools (the top 10 max).
Still, in any case take into consideration:
- your background/experience, how relevant it can still be to eventually not start from 0
- cost/ROI
Good luck
Lucie
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(edited)
Hi there,
This is a big question and I'd seriously advise you to consider the decision very seriously. Careful with any Q&A for such a life-changing decision.
Ultimately, an MBA programme is worth it for some and not worth it for others.
In my view it's almost never worth it if the school is not a top 20 worldwide program. Generally, individuals pursue an MBA for the opportunity to grow their career, open new doors, and, importantly, build a very strong professional/social network.
Remember that there are risks here. There is the opportunity cost of a lost 1-2 years of your current salary. There is also the direct cost of the MBA program. We are talking hundreds of thousands of dollars here.
That cost has to outweigh the benefits of your future job and increased salary prospects. But, what happens if you join consulting, thinking you'll make Partner and pay it all off, then realize you either don't like the job or don't have what it takes?
This is all probabilities and individual circumstance + values. Think long and hard!
yes, that's a really good point of view. Just be cautious, for some geographies the top B school in the country may not feature in top 20 globally so you would have to factor in that as well. For example, I don't think the best b-school in China would rank in top 20. Overall, I think MBA from a top tier place would end up breaking even in terms of direct (job, network...) and indirect benefits (diversity of classroom, transformational experience...).
The reasons you have listed out dont seem genuine and strong enough to do a top MBA, invest $100k, be out of work for 15-21 months and relocate to a country which is nearing recession and has massive Visa challenges.
Please think through this properly and pay attention to your situation. Will you benefit in terms of business & functional skills through the MBA, which industry and type of role can you transition into, does the financials work out for you etc.
