MBA at 6 YE
I’m considering going for a top 5 MBA, hoping to move higher into management compared to my current situation. Current position: Senior Data Engineer Is it worth it? TC - 200k in LA
The heart wants what the heart wants... Imagine if you don't like your current job but keep it anyways... And the same question comes back after another 5 years... Then it'll be "11 yoe, MBA or not"... So if you're able to do it without getting into a lot of debt and have a clear plan post- graduation, go ahead!
Do you think it would help my career substantially?
Yes, if you're looking to change your career path to management/strategy etc. and if you are self aware and confident that you're a better manager than your current role. Are you able to think strategically and be able to lead during firefighting... Do people incl. your peers look up to you or come to you for solutions (not necessarily to work related problems)? Are you able to influence people to do what you want? Are you a breadth person and have a knowledge of lot of subjects? Are you able to tell if a certain idea will work or not with conviction within a few minutes? Are you a numbers person? Are you able to correlate seemingly random ideas that are in fact intertwined? If you have these traits you'd become a good manager. Also do you have a specific area and a plan of what you want to become after spending a significant amount of time and money? If you're positive on most of the questions above I think it'd be beneficial for you to proceed with an MBA.
Do it if: a) you really need a break to learn, travel and have a bit of fun b) you want change career paths c) short term money is not a concern Don't do it if: a) you want to stay at the company you work at and just move up the ladder b) you're risk averse. You already make more than vast majority immediately after MBA. Hence, your opportunity cost is very high. b) just for an MBA stamp on your resume. Only ones that truly oozes prestige are Stanford and HBS (Wharton in finance). All the remaining top 10 are great schools and people take notice but nobody will be dumbfounded just because you went there.
Would you say that if I can get into HBS/Stanford it would be worth it? For me it’s mostly about cost benefit financially - with a small portion being the networking opportunity
Hard to say for sure since there are many factors at play but definitely Stanford and HBS would improve cost benefit. If you're a pragmatist and want to maximize your NPV then probably shouldn't consider an MBA. It will cost 500k for you considering opportunity costs and you will get a job with similar tc afterwards.
Part time MBA is the only way to play this game. As you gain experience/money you fill that resume with a good MBA.
What is your current job role and industry? Hardware engineer? PM? Sales?
Senior Data Engineer
I attended one of the HSW business schools, and it's a great opportunity to practice social skills and network, if budget isn't an issue. In terms of actual knowledge for business analysis as a data scientist, however, it's better to just learn independently.