Continue career with Promotion or MBA (or some mix)

Question

I recently took the GMAT and a 710 (82% quant, 88% verbal) and had plans on beginning my apps in a year once i figure out which schools were best, what my plans were, etc.

College:
BU 3.33 (3.4 major, final 4 semesters on dean’s list) 
BA in Math & Economics

Career:
1 Year cost accountant at Food MFG
2 Years as Senior cost account (working as controller without title) with same Food MFG

My dilemma arises now that I had this plan my company calls me and says that they would like to groom me to take over a regional controller job (overseeing 4-5 controllers) in 2-4 years when the current regional controller retires. At my firm there are 3 regional controllers and 19 controllers (if you count me) so this is a good opportunity for me.

I am wondering if I get to that level without an MBA why rush to peruse it? 
If I decide to go back soon could I even use the offer of regional that I turn down in my application?
Is the GMAT truly valid at the top schools for 5 years (probably paranoia more than sense asking this one)?

Which would be the better long term option for my career, i think the mba would offer more flex and leverage if I want to change companies but that job is very respectable and less sacrifice in time and money (plus similar salary as expected upon grad).

I know this is very hard to give advice but more curious on your opinion on large promotion vs mba. If you feel you cannot answer I understand.

Thanks,
Explorer21

jb88 · Answer

A few thoughts here: Do you have the opportunity for a Part-time MBA? Would your company ever pay in the future to have you get an Executive MBA? Perhaps you could negotiate it into your "grooming" process.

Schools claim GMAT is valid for 5 years and should honor that, but keep in mind the entire test will be changing soon.

For me it would be hard to evaluate the decision without looking at salary numbers, since that makes a huge difference. The salary potential with an MBA generally outweighs the cost of attending, but not necessarily for everyone.

ex21 · Answer

i'm guessing around 105-130K but i do not have details yet. I will find out more next week. Another issue is that i only have worked for this company after college so i would need recommendations from them. Asking for recommendations to leave is not fun. I know i am not the first nor will be the last but it still adds an element to this decision.

jb88 · Answer

Well how much time do you have? Are you involved in any outside activities who could write your references? I'm sure atleast 1 of your supervisors now would be willing to vouch for you if you put it in the right context. Search the forum about this, tons of people have this kind of problem.

Personally, even for $130k seems like an easy answer. You will most likely get that as your starting salary out of an MBA from a top school.

Personally, even for $130k seems like an easy answer. You will most likely get that as your starting salary out of an MBA from a top school.

Hjort · Answer

Is your primary goal a higher immediate salary?

One should give careful consideration to the likely pecuniary outcome of an MBA program. Even on a gross basis, an MBA program faces an uphill battle against a base salary of about 115K. Consider, for example, the MBA recruitment stats for an extremely strong program like Wharton, where the only functions with a median salary above 115K in 2009 were Private Equity and Consulting/Strategy (of course, one could argue that the her salary would be above the median, but the median is a useful starting point). One would also need to consider the different bonus structures for the two positions, but it is difficult ex ante to say what these differences would be. Once one adjusts for the tuition and income foregone of an 18 month program, the MBA branch would need to overcome a deficit of some 250k plus. On the other hand, the MBA branch would also presumably feature faster salary increases (but also the disadvantage of two fewer years of experience).

Another advantage of waiting is that the experience of managing other employees would likely improve one's subsequent application and employment prospects.

ex21 · Answer

i am going to corporate for meetings this week and will find more details and post it. I appreciate the feedback thus far and definitely will take time with this decision.

Continue career with Promotion or MBA (or some mix)

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