Thanks for reaching out to me and thanks for your well-laid out thoughts. It's definitely appreciated.
What you really have to consider is what you are giving up here. I imagine that at your place of employment you are making a pretty decent amount of coin. So how much is a year away at an accelerated or 1 year European MBA program really going to cost you? You really need to do the ROI on that one. How is it going to take you to make back that lost money? If you have to pull money out of savings, you need to calculate the lost earnings from an appreciation in asset value. Will your employer be providing you any tuition assistance? It sounds like they are on board, can you hit human resources up for some cash?
I'm sure you know the math and can work the numbers.
Also consider the role that you are going back into at your employer. It seems like you have had some pretty good progression at your current employer, will you be giving up any opportunities in the meantime and over the year that you will be gone? If so, you may want to consider an executive program. Additionally, if the role that you will return to is the next logical step in your career progression at the company (or close to it) – then you might also want to consider an executive program. Looking at it in a slightly different way, if you are not been a change careers or companies, why the need to do a full-time program? BTW, is your current company definitely open to you switching functions within the firm?
Personally, I like your reasons for why you want to go get an MBA. I think that you're thinking about it the right way. If you can get into a one-year program and it won't cost you too much financial strain, then go. If you don't think that you can get that internal job (internal switch), than go executive.
I would like to know whether you would advise me to go for Full-time MBA or EMBA Program and which schools might be best fit?
1. Age (at application): 34 Yrs
2. Education: Bachelor (4 Yr full-time, engineering, IIT), Masters + PhD (5 Yr full-time, management science, one of the top schools in Europe).
3. Work exp (at application): 2Yrs prior to PhD and 5 Yrs after PhD
4. Current Job: Planning Manager. Accountable for financial planning & managing spend of ~250M USD p.a. for an IT dept of Fortune Top 5 firm. 10+ direct reports (planners & analysts). 20+ indirect reports (extended team)
5. Progression: In my 4 yrs (present) work experience after PhD within the firm, I have grown extremely fast (several promotions - 4 job grades, significant increase in budget & FTE accountability) and I am seriously considering MBA to broaden my skillset.
6. GMAT: 700 (Q49 V35)
7. Application Target: R1 2015
8. Target Schools: IMD (#1 for me); INSEAD; MIT Sloan Fellows
9. Post-MBA: Largely Industry. Business Development/Commercial roles with my current employer (#1); CEO or COO office of large multinational (#2) in certain industries.
I have a strong preference for full-time MBA as I would like to take the time off for learning, development and reflection and would like to join back my employer but in a different function.
Appreciate your views. Many thanks!
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