Is an MBA worth it?

It most certainly is worth it irrespective of the top 10 school nonsense you hear people spout. It opens up doors that would be closed to you otherwise and it also accelerates your climbing of the corporate ladder.

If you can afford to do it, I suggest you go and do it now. You will reap many many rewards. I and my friends have done.

arandomwalk wrote:

If you don't go to a top 7 (maybe top 10) MBA program, the opportunity cost for an MBA is not worth it.

This is a good answer, although only top 10 may be a little strict. For an MBA, you ideally want it to open doors- & an avg school doesn't do that. But if you have a job that reimburses the cost, then yes.

I graduated from a mid-tier MBA program back in '09. I now make over twice what I made before I started the program, and I went a nontraditional route afterwards (nonprofit/government). My employer at the time reimbursed some of the tuition with no strings attached; rest was loans but not an insane amount.

In retrospect, I wish I went to a more nationally recognized program in case I want to move. That said, I'm happy with my choice as I just wanted to learn more about management. finance, etc. I have steadily moved up in my current organization since joining it back in '10.

However, if you do want to work in Wall Street, Silicon Valley, etc., top ten is the only way to go. Friends who went to top schools such as Berkeley and Chicago are doing very well in tech and finance. I also think an MBA is enormously helpful if you want to start a company someday. Don't need an MBA to start one, but you'll want one (or more) around when it grows beyond what a few people can handle.

I went back to get my MBA at a top school even though I didn't really need it from a career/earnings standpoint. It's super expensive which is really the only downside, but I made great friends and a network of very smart, accomplished young people which is irreplaceable. IMO you shouldn't go to an MBA to learn accounting/finance since those are basically technical skills you can learn from Wikipedia or free online courses. But basically everyone I know ended up with great jobs, many paying over $200k (all-in) the first year out of school. The hardest part is getting in, and btw most b school students are high achievers but also pretty outgoing and sociable, so if you're into partying hard and traveling a ton then it might be for you.

Once you get outside of the top 10 or so programs, I think both the experience and job prospects tend to change signicantly, but there could still be good reasons to attend a lower-ranked program (especially if your company is paying).

Grad School Q wrote:

Is an MBA or similar to Master's degree worth it? I have a bachelors in business now and wondering if it's worth the time and the money. Does it really help you very much in your career?

All things considered, I would say it is worth it. When you are starting out, having a Wharton MBA for example on your resume automatically puts you ahead especially in the top tier financial institutions. However, as a graduate of a T1 program latter in life, I can tell you that my graduate degree didn't have much impact on making me a better employee or my overall career success. I have had graduates with a 2-year degree from ITT Tech run circles around MBA graduates. With all of that said, if you look at the CVs of industry leader, a lot of those guys have MBAs, which I guess says there is definitely value.

Most B-schools will have "class profiles" for the previous degrees and work experiences of their entering MBA classes. You will see that most have worked a few years in their careers and most don't have undergraduate degrees in business. In general, you will make a better decision on graduate school (in any field) with 2 years (or more) of career work experience. Give a lot of thought to duplication in your situation with an MBA program with your undergraduate degree in business.

I work at a top 20 program and agree w/ most of what has been posted. If you want finance or consulting and some brand manager roles - it can be well worth it. As others have said, on campus recruiting (OCR) will open up interview spots at companies that you would not have access to otherwise (many top firms hire most of their talent from "feeder schools" and "feeder internship programs." I would stay top 20... maybe top 30 - depends on where you want to end up. If you are at a top 15-20 program but it is geographically where you want to end up, that can increase the concentration of alums and open doors easier than if you are at a top 10 program but on the wrong side of the country from where you want to end up. It can still easily be done... but the number of firms traveling to visit for OCR will decrease and you'll have to do more travel yourself.

Look at the schools you're considering and check out their employment reports. That will give you salary data for the industry/function you are considering. That can help you do the ROI math.

Finally, as others have sad - GMAT is VERY important - especially in finance/consulting. It can open up possibilities for scholarships... and some firms have a minimum they will consider for OCR positions. Time spent studying for that is well worth it.