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job or bschool in 2009

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job or bschool in 2009 [#permalink] New post 10 Mar 2009, 19:59
Okay I have a tough choice to make comming up...I got into couple of top 15 schools but and somewhat unexpectedly I got a job offer for about 100K + 30K singing bonus. Now I have to make a decision between getting into a top 7 school with no money, a top 15 school with some money or take the money and run while I can...

The job is farily interesting too with opportunities to travel abroad and good training opportunities...although definitly not I-bank/consulting career type of money. It's tough cause b-school is something that I've always thought that I'd want to do at some point.

Any thoughts from GMAT clubbers??? Espeically those who are already in b-school.

I tried to use the value of bschool calculator just to see but it doesn't really factor in the non-financial/life planning type of things I have to consider...btw I turned 26 this year.

Last edited by zhl226 on 10 Mar 2009, 21:37, edited 1 time in total.
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Re: job or bschool in 2009 [#permalink] New post 10 Mar 2009, 21:20
zhl226 wrote:
Okay I have a tough choice to make comming up...I got into couple of top 15 schools but and somewhat unexpectedly I got a job offer for about 100K + 30K singing bonus. Now I have to make a decision between getting into a top 7 school with no money, a top 15 school with some money or take the money and run while I can...

The job is farily interesting too with opportunities to travel abroad and good training opportunities...although definitly not I-bank/consulting career type of money. It's though cause b-school is something that I've always thought that I'd want to do at some point.

Any thought from GMAT clubbers??? Espeically those whare are already in b-school.

I tried to use the value of bschool calculator just to see but it doesn't really factor in the non-financial life planning type of thing I have to consider...btw I turned 26 this year.



Just a warning, this crowd might be a little bias. I think we're all giving up somewhat decent salary to go to a top 10 school.

It might be better to ask people who already graduated, or maybe where you want to be in 5 years.
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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 03:08
It's an incredibly personal choice, and as GoBruins said a lot of people on here have already made the decision to give up good jobs to go to school.

I would approach it by asking myself whether this job would better position me for my long term goals after 2 years than going to school would. Also, you said getting an MBA is something you're personally interested in, so factor in that as you get older it gets harder to enter a FT program.

A few years ago I had a similar choice to make, and decided to postpone applying to bschool in order to take an incredible opportunity I was offered at work. In the end, I think the experience I gained during that job made me a better candidate and probably a better student as well. But the deciding factor for me wasn't the pay I was offered, but the experience itself.
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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 05:15
I used the “creative destruction” concept to convince myself that MBA is the right move for my career.

In an economics class, they probably taught you about the concept of “creative destruction” with typewriter engineer as an example.

When less and less people started purchasing typewriters in favor of other options such as personal computers, jobs and incomes for companies that make typewriters, or people who fix typewriters disappeared. These individuals had to return to trade school or find new skills in order to reinvent their careers in fields other than typewriter-related industry.

I see my career the same way. Right now, I can live a pretty comfortable living and have a great job with my resume alone. However, sooner or later – there will be a need for an advanced degree. I don’t want to wake up one morning and find myself in a situation where my skills are no longer in demand. I want to prepare myself for the future and I always want to improve myself before the needs arrive.

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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 05:36
To me this is an age thing - if you've got the time maybe 2 years you could postpone an MBA saying you are 23-26ish I'd say I'd take the job, if as listed it is a good experience and not just the money.

If you are smart with your money and you save a lot I think you could save enough to pay for a very large portion of your mba outright without having to take on debt. As others mentioned this might make you a better candidate and with that might come additional scholarship money and/or a better school. However if you are in the older range of MBA applicants 27+ and you put off school for 2 years you are approaching the 30s mark and that means you might find it harder to go back and harder to give up that 100k job.
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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 05:38
lsuguy7 wrote:
If you are smart with your money and you save a lot I think you could save enough to pay for a very large portion of your mba outright without having to take on debt. As others mentioned this might make you a better candidate and with that might come additional scholarship money and/or a better school.


:-D
I am probably misunderstanding you so I have to ask.

Are you saying that if one saves more money, it makes one's profile for bschool better?
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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 05:56
GoBruins wrote:
Just a warning, this crowd might be a little bias. I think we're all giving up somewhat decent salary to go to a top 10 school.

It might be better to ask people who already graduated, or maybe where you want to be in 5 years.


Agreed. Everyone is biased to some degree, myself included.

One more thing to ask yourself: Why are you interested in getting an MBA? If it was for a shot at big time banking or consulting, you may be advised to wait due to the economy. I know that's what I want, and I am waiting.

If it is for general educational purposes, self improvement, long-term value, to break into general management/stay in the same industry or role -- then you should just go for it. You'll reap the benefits more at an earlier age.

And of course, you have to grapple with your age, your personal life situation, how happy you would be with the new job, and everything else that we probably won't be able to help much with.

Last edited by DK on 11 Mar 2009, 06:01, edited 1 time in total.
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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 06:01
BearStearner wrote:
lsuguy7 wrote:
If you are smart with your money and you save a lot I think you could save enough to pay for a very large portion of your mba outright without having to take on debt. As others mentioned this might make you a better candidate and with that might come additional scholarship money and/or a better school.


:-D
I am probably misunderstanding you so I have to ask.

Are you saying that if one saves more money, it makes one's profile for bschool better?


hate to drift off topic--but that's a pretty spiffy profile picture bearstearner!

as far as the post goes, i voted for the job...especially since you're relatively young.
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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 06:03
young_gun wrote:
hate to drift off topic--but that's a pretty spiffy profile picture bearstearner!


I can't agree with you more! :-D
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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 12:07
I vote for the job.

It sounds like the job is interesting to you and pays well. You have to revisit the reason for a MBA. It sounds like you want an interesting job with good pay. The job market for i-banking is down (maybe the same for consulting), so even if you are done with MBA, you may not get the job you wanted. Maybe it’s better to take the interesting job now and see where it takes you. If you don’t like it, you can always go back to get a MBA when the economy is better and the MBA applicant is down. With more experience and lowered competition, you’ll most likely get into a better school (especially since you are only 26), and even with $.
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Re: job or bschool in 2009 [#permalink] New post 11 Mar 2009, 12:47
It all comes down to what you want to do 10 years from now. Do you NEED a MBA to get there? If so, you'll have to go eventually, right?

Or can this new job lead you to the same place?

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Re: job or bschool in 2009   [#permalink] 11 Mar 2009, 12:47
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