Those of you who work in the finance/investment field, and even those of you who don’t, what are your opinions of getting an MBA in today’s age? I just turned 23, working in Real Estate development at the moment and graduated 6 months ago from a solid school and would only consider getting an MBA from an Elite School, but still dont feel fully convinced to put in all the time at the moment into GMAT studying. Any thoughts?
You could always start studying for the gmat. Scores are valid for many years. MBAs are just a fortune and don’t really guarantee you much return
How doesnt an MBA from a top school generate return? You are making $200k your first year
$200k isn’t worth much when at any FANG or unicorn you’d be in the $150k-$200k range anyway without an MBA, so assume you lose $200k of salary (over two years, when you take out taxes). Plus another $150k in tuition. So you’re $350k in the hole compared to just continuing to work.... and that money that would have been generating returns for years to come is instead accruing student loan interest. So if you’re doing it don’t do it for the cash but for personal development. Top part times like Berkeley, Kellogg, NYU, Booth might be another alternative but are best for those not looking to switch companies. You still get the networking that you can’t get with an online course.
Get an online masters from a better school for less money. Plus you wont miss work experience this way
Bad idea. This is coming from someone who has one from a top school
What’s a bad idea? Going after the mba?
Please elaborate
because of opportunity cost?
I have an MBA - at 23 it would be too early, I'd wait a few more years and start applying around 25 if you still want to. You won't get hired to an MBA job if you don't have real work experience pre-MBA; most companies want 4-7 years because it's supposed to be a pipeline to leadership and if you've never had any real work experience there's no way they can evaluate your potential.
Not at 23 at least. Average age of a good MBA class is in high 20s afaik. MBA after some solid work experience may be more helpful.