Hi,
At one point I was going through this entire line of thinking myself at McKinsey and I could not justify it to myself. Here are a few things that persuaded me not to do an MBA
1. Debt! - Too much money and even if McK paid for it, I would still be out of pocket from a salary perspective for 2 years and have spent at least $40k or $50k on various expenses. That is a LOT of money if you have to pay for it yourself especially if you already have a high paying job
2. Value of the degree - in 2020 there are extremely few careers that definitely require an MBA to succeed. The degree had its heydey in the 1980s/early 90s.
3. Alumni network - The McK network is just as strong as any business school alum network
4. Limited options if you are international - If you are not doing an MBA in the country in which you have the right to work, then your exit options are severely restricted to firms that will sponsor you. It made very little sense to spend 2 years to restrict my options
5. Drastic changes in the workforce - As people move more towards tech careers, the topics covered in an MBA program (for the most part) seemed to be more traditional and less relevant to the dynamic changes in the workforce
The following are things I believe I lost out on by not doing an MBA
1. A strong network of friends in a country I am not originally from - There is no doubt that an MBA exapnds your friend cirlce and network by a lot and for that alone it can be a worthwhile experience (if money is not an issue). Plus you meet some incredibly talented people from all across the world
2. Chance to take a break and really think about career goals - Sometimes 1 or 2 years away from your career can give you a lot more clarity and sense of purpose than continuing in your line of work. There is a strong focus on self improvement in an MBA
3. One thing some friends of mine find useful is the school brand name that they can leverage forever especially in developing countries - this can open doors previously closed to you
4. Travel - Sounds silly but almost all top US MBA programs have many exciting trips that you take with your friends and you truly get an immersive experience in a new country unlike traveling as a tourist. For example trips to Palestine, or trips where the host country students take you around. These are experiences you can't put a value on but can be very meaningful
(edited)
Doing MBA atm? Could u share ¿
Starting 2019 in MIT :)