Applying to MBA

lbs London
New answer on Jul 15, 2022
3 Answers
149 Views
Anonymous A asked on Jul 12, 2022

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!

Overview of answers

Upvotes
  • Upvotes
  • Date ascending
  • Date descending
Best answer
Lucie
Expert
updated an answer on Jul 12, 2022
10+yrs recruiting & top BCG trainer and coach & BCG Project leader & experienced hire & ICF coach

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

Was this answer helpful?

 

 

(edited)

Was this answer helpful?
Ian
Expert
Content Creator
replied on Jul 12, 2022
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

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!

Was this answer helpful?
Anonymous B on Jul 14, 2022

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...).

Adi
Expert
Content Creator
replied on Jul 15, 2022
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional 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.

Was this answer helpful?
Lucie gave the best answer

Lucie

10+yrs recruiting & top BCG trainer and coach & BCG Project leader & experienced hire & ICF coach
16
Meetings
3,064
Q&A Upvotes
21
Awards
5.0
6 Reviews