Go for the MiM or go with Deferred MBA
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04 Jun 2020, 02:36
So I have quite a mess in my head and I'd like to ask you guys for help! I'll try to keep things as summarized as possible.
A little bit about myself and my goals: I'm spanish/brazilian living in Spain, graduating from engineering this summer (June 2020). I'm also cofounding an energy fund with which I hope to accelerate the transition to renewable energy worldwide (Tesla fanboy much?). Anyway, I'm pursuing business education for several reasons:
1) Complement my engineering background with general management knowledge, specially for my future as a CEO (I have big dreams, and I want big preparedness).
2) Foster a global alumni network who can help me in the future in terms of venture capital, talent requrements, co-founders, etc...
3) Access to career resources to place me in the energy industry or in consulting for energy companies in the beginning of my career (for max 2 years before jumping full time into my project).
I have a confirmed offer from IESE Business School (MiM program) and have had great interviews with London BS (MiM), HEC Paris (MiM) and Darden (Deferred MBA). I initially wanted to go for the MBA for its more experienced cohort and ROI but due to coronavirus I had to narrow down, focus on ROI and diversify (hence considering MiMs). I was dinged by Stanford GSB and Yale SOM Silver Scholar. Was going to apply for HBS 2+2 but their June 1 DL is not feasible (by the time I have an answer from them I will already have had to respond to all other admissions offers).
If I go for deferred MBA, my plan is to work full time on my startup (we'll be in an accelerator + funding) during my deferral period (2 years), and then after the MBA have a greater network to incorporate in the US to transition to global operations, raise Series B and eventually IPO. If I go with the MiM (1 year program), my plan is to work for 1-2 years in the energy industry or consulting for energy to gain field xp and pay back investment, while transitioning to full-time at startup.
I have two fundamental dilemmas:
1) Whether to go with the MiM and get my education now, or go with deferred MBA later with a possibly higher chance of career leverage?
So essentially I believe the MiM in terms of present value and IRR represents a better investment in the short run but I fear missing out on better opportunities by going into a program that's not as widely recognized. I also fear not having the same resources, especially for entrepreneurship, if I go to IESE/LBS/HEC instead of Darden (I have the american spirit of innovation in high regard and I fear being stagnant by limiting myself to the EU market [unless of course I can have good US connections with either of those schools]).
2) If I go with the MiM, which one to choose from?
On this regard, I think all MiM programs all tend to more or less converge in terms of post-programme salary, having HEC perhaps a slight upper hand according to rankings. So my main priority has been to score ROI vs opportunities.
I believe IESE is the clear winner. It's a 10-month program, I earned a scholarship, and living costs in Madrid are quite affordable. I expect my education in total to cost about 37k incl. living allowances. A different picture emerges with HEC and specially London BS. HEC is a 2-year program, and although the french goverment does help with living costs, it's still Paris. London is even far more expensive. I do believe I can break-even with IESE in 1-2 years, but I'm not as sure with LBS or HEC.
However, being a new program, IESE doesn't have all the international opportunities HEC or LBS have. LBS is particularly attractive for its Global trips and exchange possibilities with India, China or Silicon Valley (all hotspots for energy). IESE's program is great, and I believe I won't have any regrets academically, specially since I'm more fund of the Case Method. However, no exchanges with IESE. I fear missing out.
TLDR: I'll be working as an entrepreneur on the long run but on the very short run I need a program that can add me energy industry network and provide a good financial ROI.
A) Should I go with Darden Future Year MBA or with a MiM?
B) If MiM, should I go with IESE's optimal financial ROI MiM or go with LBS or HECs more developed MiM?
Thank you very much for your answers beforehand! I really appreciate all your feedback!