Tue 20 Mar 2007
Fifty Grand For An MBA?
Posted by RichSlick under Careers, Money Management
Thanks for visiting. This blog is intended for individuals with Net Annual Income of $105,000 or more. Get Rich Slow + Get Rich Quick = Get Rich Slick. If you're new here, you may want to subscribe to my RSS feed.
I’ve recently been accepted to an Executive MBA program and school starts this fall. I applied for admission back in November when my job began to get a bit boring and I wanted something a little challenging. Unfortunately, now that I’ve been accepted I’m really debating on whether sinking 50k into an Executive MBA program is really worth it.
The average MBA graduate I think makes 80k or more but I’ve been way above that for quite some time now that I don’t think monetary returns justify the program.
An argument could be made that an MBA program will help secure an executive or upper management position but I’ve held those positions for the past 10 years so I’m not sure that is a selling point either.
Networking with peers is also a selling point for MBA programs and while I certainly wouldn’t mind getting to know other professionals and executives, is it worth 50k to do so? Couldn’t I do similar things in other venues: charities, community activities, political events, etc?
Lastly, my wife has decided that she’d like to return to school to possibly pursue an MBA and perhaps it may be better for her to do so since she’ll likely receive a great benefit from it that I would.
I have a couple of more months to decide but I’m leaning against it for now.











March 20th, 2007 at 2:32 pm
I thought about going with the MBA plan myself, but decided against it. I would have had to get in and complete a two-year deal at Sloan or HBS for it to really increase my income enough to offset the cost and the time. My test GMAT scores may have been good enough, but in the end, I decided that it wasn’t for me.
Now if my work would pay for an MBA, I’m all over it. Alas, I work for start-ups and money isn’t available for tuition reimbursement and the like.