I’m 35 and considering going back to get me MBA. I think that it’d help me land the types of jobs I want and *could* help me increase my average earnings.
It’s a big commitment. Studying for the GMAT > applying > going to school > debt. I see a lot of people with MBAs on LinkedIn who can’t find work, but I also know that an MBA can often get your resume to the top of the list. I hear they’ve become deluded. I hear they’re useful. It seems like there’s a lot of conjecture around them.
7 comments
You should ask this question on r/MBA
Where are you now and where do you want the degree to take you?
My advice: don’t pursue a degree, pursue the work you want to do, and get the degree if it becomes an obstacle blocking your next step.
Pursuing the degree in hopes that it will get you somewhere is, while possible, a really good way to lose 2-3 years of your life and burn $100k.
I did an MBA that had a management of technology focus. I was pursuing multiple potential career paths so I went in to the GMAT without a whole lot of preparation because my intention was to retake it later if I became serious. I ended up exceeding the requirement for my institution of choice so that worked out well. I think the MBA by itself doesn’t add much value over an undergrad business degree. I came from a science undergrad and I felt that all the courses I took were like an intro to the various business specialties; hr, finance, economics etc. It was quite expensive and the cost impacted my ability to progress in other aspects of life like home ownership and children. I think the special value is networking and maybe a bit of prestige but I agree the credential is diluted. Lots of non-accredited places offer MBAs so it’s not the golden ticket it may have once been. I would say the MBA was more of a compliment to my existing education. Like I am a real property subject matter expert who also has an MBA, not an MBA that can do whatever in the world of business. Also I did not experience an immediate return on the investment. It’s been a slow grind and I’m not sure it was necessary to get me where I am now.
I see from your post history you’re a small business owner considering getting out. Do you know what types of jobs you’d be considering if you don’t get an MBA? What types of jobs are you hoping that an MBA would help you get?
It was worth it for me as someone that changed industries. I made a TON more money doing something I actively liked.
That said, I’d recommend looking at job placement rates for graduates (typically within 90days of graduation). As the prestige of an MBA program falls, you’ll see job placement rate fall as well.
Right now, I’d advise against anything but an M7 school, anything below seems to have a hard time with a 80%+ job placement rate. Back when I graduated, pretty all T25 schools had a 90%+ placement rate, but thems the breaks with a shitty or great economy.
Find another way to get promoted unless you work in finance or finance adjacent. If someone else is paying for it- go for it. If you are taking out loans- find another way to learn the things included in the MBA curriculum.
I started my MBA in 2018 and graduated in May of 2020 right as the job market froze for lots of folks due to COVID. I went back to get the degree to pivot into a new field and have yet to find a way to make that happen. The job market isn’t really ready to take risks on career shifters right now.