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Clara

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5

MBA after joining MBB

Hey all,

Currently at an MBB firm and was wondering what the value add is of attending an MBA program if you're already within the consulting industry. From what I hear, people tend to pursue an MBA either to make a career change (usually to consulting) or to develop their professional network. However, if you're already in consulting (and intend to stay there) + have access to an arguably better network than the one you would develop from business school, I'm struggling to see the benefit of losing 2 years of salary + accruing 2 years of debt.

Would appreciate your thoughts. Thanks

Hey all,

Currently at an MBB firm and was wondering what the value add is of attending an MBA program if you're already within the consulting industry. From what I hear, people tend to pursue an MBA either to make a career change (usually to consulting) or to develop their professional network. However, if you're already in consulting (and intend to stay there) + have access to an arguably better network than the one you would develop from business school, I'm struggling to see the benefit of losing 2 years of salary + accruing 2 years of debt.

Would appreciate your thoughts. Thanks

5 answers

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Book a coaching with Clara

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Hello!

I think it´s a very personal option, and it highly depends on your personal circumpstances as well (e.g., whether you have any debts already, if you can get it financed, etc.). However:

  • It´s an amazing personal growing experiece -not everything needs to be measured in terms that you can monetize-.
  • Network is strong, international and much wider and richer than the one you get in your local MBB office
  • Great for the CV -if you can get in a good school, of course-.

I would talk to people who returned from MBAs in your office and ask them about it. In McKinsey Madrid, it was a no-brainer for (almost) all BAs.

Also feel free to reach out since I´m starting in no time my MBA in MIT

Hope it helps!

Cheers,

Clara

Hello!

I think it´s a very personal option, and it highly depends on your personal circumpstances as well (e.g., whether you have any debts already, if you can get it financed, etc.). However:

  • It´s an amazing personal growing experiece -not everything needs to be measured in terms that you can monetize-.
  • Network is strong, international and much wider and richer than the one you get in your local MBB office
  • Great for the CV -if you can get in a good school, of course-.

I would talk to people who returned from MBAs in your office and ask them about it. In McKinsey Madrid, it was a no-brainer for (almost) all BAs.

Also feel free to reach out since I´m starting in no time my MBA in MIT

Hope it helps!

Cheers,

Clara

(edited)

Doing MBA atm? Could u share ¿ — Inés on Jan 13, 2020

Starting 2019 in MIT :) — Clara on Jan 13, 2020

Book a coaching with Vlad

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Hi,

Based on what you are saying, MBA does not make sense for you. However pls consider the following:

  • The average lifetime in consulting is 2 years. Even if you want to stay there and grow to a partner - there are too many obstacles that can make you leave the firm.
  • If you apply it's either the company paying for it (no debt) or you get the scholarship (up to 95% of tuition), so no debt as well
  • After a couple of years in consulting it's very often important to take a break, even if now you think you don't need one
  • MBA network is much stronger and better than your consulting network

Best

Hi,

Based on what you are saying, MBA does not make sense for you. However pls consider the following:

  • The average lifetime in consulting is 2 years. Even if you want to stay there and grow to a partner - there are too many obstacles that can make you leave the firm.
  • If you apply it's either the company paying for it (no debt) or you get the scholarship (up to 95% of tuition), so no debt as well
  • After a couple of years in consulting it's very often important to take a break, even if now you think you don't need one
  • MBA network is much stronger and better than your consulting network

Best

Book a coaching with Udayan

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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

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)

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Hello,

You have raised a fair point, more and more people inside consulting firms are deciding not to do an MBA. If you have a business background, an MBA is not going to add so much in terms of knowledge. The benefits that you can get from an MBA are still many: CV and reputation, international experience, excellent network and exit options


As you can see those are important plus if you want to change and leave consultancy. I would recommend to do an MBA just in that case, otherwise I would focus on my career.

Best,
Luca

Hello,

You have raised a fair point, more and more people inside consulting firms are deciding not to do an MBA. If you have a business background, an MBA is not going to add so much in terms of knowledge. The benefits that you can get from an MBA are still many: CV and reputation, international experience, excellent network and exit options


As you can see those are important plus if you want to change and leave consultancy. I would recommend to do an MBA just in that case, otherwise I would focus on my career.

Best,
Luca

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Hi,
it's an unique opportunity to get a strong network with exceptional people, top international experience, a big brand in the CV, and development of leadership and communication skills. Understanding if this outweighs the cons you mentioned is up to you and depends exclusively on what aspects more matter to you. I recommend having some talks with senior consultants that got MBA and join again the same firm after the master.

Best,
Antonello

Hi,
it's an unique opportunity to get a strong network with exceptional people, top international experience, a big brand in the CV, and development of leadership and communication skills. Understanding if this outweighs the cons you mentioned is up to you and depends exclusively on what aspects more matter to you. I recommend having some talks with senior consultants that got MBA and join again the same firm after the master.

Best,
Antonello

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