Is your MBA worth it?

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thp510: Senior | Next Rank: 100 Posts; Posts: 48; Joined: Sat Apr 03, 2010 8:35 pm; Thanked: 1 times; Followed by:1 members

Is your MBA worth it?

by thp510 » Tue Jan 22, 2013 8:39 pm

So a website called SoFi.com is basically giving people an estimate of whether or not the MBA a person is pursuing is worth it (also does a breakdown for undergrads as well). Unfortunately, not all MBAs are the same and it depends on where you live. This may be intuitive but I'm still surprised at how many people don't realize this. Check it out: https://www.sofi.com/calculators.php

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Source: Beat The GMAT — Research MBA Programs | Tue Jan 22, 2013 8:39 pm

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brianlange77: GMAT Instructor; Posts: 417; Joined: Mon Jan 07, 2013 8:49 pm; Location: Chapel Hill, NC; Thanked: 132 times; Followed by:93 members; GMAT Score:750

by brianlange77 » Wed Jan 23, 2013 7:10 pm

THP:

Interesting find -- just a word of warning. Calculators based on averages, are just that -- average. It's a fun exercise to do, but how can you value "I hate my current job and want to move into a different career field?" or "I love the rush of NYC, want to be a banker and am tired of living in sub-Saharan Africa in the Peace Corps?"

Think about your reasons -- do they warrant an MBA? Only you can truly answer that.

Just my $0.02.

-Brian

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ivyctor2010: Master | Next Rank: 500 Posts; Posts: 254; Joined: Thu Aug 23, 2012 9:42 am; Thanked: 46 times; Followed by:13 members; GMAT Score:740

by ivyctor2010 » Wed Jan 23, 2013 7:20 pm

An MBA is generally a long term investment in your career and your career path sometimes take an entirely unexpected turn, not sure how can anyone quantify that?

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brianlange77: GMAT Instructor; Posts: 417; Joined: Mon Jan 07, 2013 8:49 pm; Location: Chapel Hill, NC; Thanked: 132 times; Followed by:93 members; GMAT Score:750

by brianlange77 » Thu Jan 24, 2013 5:14 pm

ivyctor2010 wrote:An MBA is generally a long term investment in your career and your career path sometimes take an entirely unexpected turn, not sure how can anyone quantify that?

I don't think anyone would disagree with you there -- but there is value in doing the math, recognizing that every situation is different, and that not all MBAs are created equal.

For example -- if your company is willing to pay for you to go, and you like your current job/career, but you'll 'owe' them four years afterwards -- is that a better/worse investment than quitting and paying for it yourself? The biggest watch-out I can offer for folks to consider is that I don't believe the decision to go get an MBA cannot be quantified solely through an objective formula such as this. These calculators provide a helpful data point -- but it's just one data point, not something on which an entire decision should be made.

Just my $0.02.

-Brian