MBA at age 30
Would you go to bschool at age 30 and sacrifice 2 years of salary to enable a career change? Pros and cons?
At that stage of life it depends a lot on other personal situation (spouse, kids etc) and reason behind changing (specific career goal or wanting to go to a specific country for education or change of field). Else not worth it since you will start at level at 32 where someone who is 27 will also start
Age doesnt matter that much for mba graduate if they have a clear career goal.
Well prior experience matters when you go management route. It's not like software engineering where a 24 yrs old are potentially paid half a mil.
The earlier the better I would say. If u keep thinking about it, you will feel sorry after 5 years and as time goes on MBA is less valuable. I'm 42 and I wish I had done it at 30.i thought I was too old at that time. Now still a techie and can't break the bamboo ceiling
Bamboo ceiling?
Google it
Do it only if you can get into one of the top schools. The upside falls off rapidly below that...
You're a little late, but maybe not too late. Average MBA age is 28. Factor in another year to GMAT prep and apply. A typical job post MBA will be in the $200k TC range. If you are already past that, likely not worth it unless you just want to take 2 years off and party, travel, and build your network. Only go to a top 10 maybe 15 school and only full-time. Source: went to a top 5 program at 28. Partied and traveled the world for 2 years and easily got job in big tech. TC went from $60k to $220k. MBA brand stamp has gotten me fast track promos and new jobs (business oriented roles).
That’s great. What’s ur tc now?
May be you were not a SWE , for non SWE it makes great sense to do it. For SWE numbers don't work out.
No. At age 30, I had already founded a few startups and didn’t see the educational value in an MBA. I wouldn’t have gotten into a top five program, so without top classmates to network with, I didn’t see the social value either.
Are you the CEO of OpenTable?
I only plan to go to bschool if i can get into top 15. Im currently doing corp finance but want to break into consulting at either BCG or McKinsey. I have 5 years work experience. My plan was to apply this year ( currently studying but gmat score is not improving to the score i would like it to be) and start school in june 2020. Ill be 29 when i start. There is another opportunity that is out there at a young start up but dont want to keep putting off bschool. Was thinking of going to the start up now, work 2 years and vest some equity, then to bschool in 2021. Id have atleast some equity saved and can improve gmat score . Thoughts?
I finished mine through a top 25 online program while working FT in tech. It took discipline to miss brunch every two years on Saturday with my friends but it did lead to a promotion and I saved myself ~$400k in opportunity cost (TC of $200k/year over 2 years).
Wow that’s awesome. From which university did you did your mba? And how much was the total cost?
Also curious to know which university?
Probably. Money is not everything and you should optimize your life for doing things you’ll be satisfied with doing.
Yes, an MBA was super valuable!
If you really want to change your career and a new adventure, it is definitely worth to try.
There are oppotunity costs everywhere. It is your call to make that bet.