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338h10
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Quit $200k job for top MBA program? 26 Jul 2020, 21:38
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I am a 38-year-old inhouse (F500) M&A tax lawyer making $200k+/year. It is a stress-free, 9-5 job in an affordable secondary city that would comfortably lead to a $350k/year officer position (to the extent I don't mess up) -- my boss is 60, and other than him no one in the company can do what I do. But I want to do more and make more -- I consider myself more of an operational person, but currently I am being pigeonholed into a specialist . As is, there is no way I could become the CEO or COO of my company, and there is close-to-zero chance that I will get to have an investment or operational role at a PE (I could get a support position at PE making somewhat more, but it is not going to be a better job than my current one). Financially, my goal is to be able to make 8 figures for at least five years before I retire.

Only the M7 would make sense, but I am more focused on getting into the top 3. I should be able to ace the GMAT, having scored in the top 1% percentile in LSAT and being pretty good with math. As an M&A tax lawyer, I have to be well versed in both law and finance. But I am OLD. My legal career is also not as lengthy as my age suggests, because I had a different (but completely explainable) career beforehand that was not related to law, finance, or business.

Should I apply? What's my realistic chance of getting into a top 3 or M7 assuming great GMAT score? Would the whole MBA make sense given my situation?

The alternative is for me to get back to BigLaw or Big4 and fight my way to partnership. But that is just as hard as gunning for PE or a CEO position, and I will not be doing something I really love (which would then make the effort even more difficult).

Thanks!
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Quit $200k job for top MBA program? 27 Jul 2020, 00:38
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338h10
I am a 38-year-old inhouse (F500) M&A tax lawyer making $200k+/year. It is a stress-free, 9-5 job in an affordable secondary city that would comfortably lead to a $350k/year officer position (to the extent I don't mess up) -- my boss is 60, and other than him no one in the company can do what I do. But I want to do more and make more -- I consider myself more of an operational person, but currently I am being pigeonholed into a specialist . As is, there is no way I could become the CEO or COO of my company, and there is close-to-zero chance that I will get to have an investment or operational role at a PE (I could get a support position at PE making somewhat more, but it is not going to be a better job than my current one). Financially, my goal is to be able to make 8 figures for at least five years before I retire.

Only the M7 would make sense, but I am more focused on getting into the top 3. I should be able to ace the GMAT, having scored in the top 1% percentile in LSAT and being pretty good with math. As an M&A tax lawyer, I have to be well versed in both law and finance. But I am OLD. My legal career is also not as lengthy as my age suggests, because I had a different (but completely explainable) career beforehand that was not related to law, finance, or business.

Should I apply? What's my realistic chance of getting into a top 3 or M7 assuming great GMAT score? Would the whole MBA make sense given my situation?

The alternative is for me to get back to BigLaw or Big4 and fight my way to partnership. But that is just as hard as gunning for PE or a CEO position, and I will not be doing something I really love (which would then make the effort even more difficult).

Thanks!
Show more
This is a big decision which no one can suggest you about. Well their are folks at 38 who go for MBA but since your position in current company is sweet, except that you are looking for more, it makes the even more tougher. I can understand your concern of COO/CEO as i have seen reports/studies about why people from specific background find it difficult to reach up that level. But i firmly believe nothing is impossible.

However, I can't find anything that can add value to what you are looking. Have you given a mock just to get a raw score? Was your LSAT recent?
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338h10
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Quit $200k job for top MBA program? Updated on: 27 Jul 2020, 15:53
Originally posted by 338h10 on 27 Jul 2020, 08:26.
Last edited by 338h10 on 27 Jul 2020, 15:53, edited 1 time in total.
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338h10
I am a 38-year-old inhouse (F500) M&A tax lawyer making $200k+/year. It is a stress-free, 9-5 job in an affordable secondary city that would comfortably lead to a $350k/year officer position (to the extent I don't mess up) -- my boss is 60, and other than him no one in the company can do what I do. But I want to do more and make more -- I consider myself more of an operational person, but currently I am being pigeonholed into a specialist . As is, there is no way I could become the CEO or COO of my company, and there is close-to-zero chance that I will get to have an investment or operational role at a PE (I could get a support position at PE making somewhat more, but it is not going to be a better job than my current one). Financially, my goal is to be able to make 8 figures for at least five years before I retire.

Only the M7 would make sense, but I am more focused on getting into the top 3. I should be able to ace the GMAT, having scored in the top 1% percentile in LSAT and being pretty good with math. As an M&A tax lawyer, I have to be well versed in both law and finance. But I am OLD. My legal career is also not as lengthy as my age suggests, because I had a different (but completely explainable) career beforehand that was not related to law, finance, or business.

Should I apply? What's my realistic chance of getting into a top 3 or M7 assuming great GMAT score? Would the whole MBA make sense given my situation?

The alternative is for me to get back to BigLaw or Big4 and fight my way to partnership. But that is just as hard as gunning for PE or a CEO position, and I will not be doing something I really love (which would then make the effort even more difficult).

Thanks!

This is a big decision which no one can suggest you about. Well their are folks at 38 who go for MBA but since your position in current company is sweet, except that you are looking for more, it makes the even more tougher. I can understand your concern of COO/CEO as i have seen reports/studies about why people from specific background find it difficult to reach up that level. But i firmly believe nothing is impossible.

However, I can't find anything that can add value to what you are looking. Have you given a mock just to get a raw score? Was your LSAT recent?
Show more

Thanks.

I haven't done a real mock, but the sample questions I checked out appear easy to me. My LSAT was not recent, but what I do on a daily basis now is much more intellectually challenging than whatever the LSAT provides -- The LSAT wasn't too difficult for me at the time, and looking back at some of the LSAT questions, I find them rather straightforward now. On the math side, I should do fine -- I had a pseudo engineering background and still have to work out all the complex tax models on a daily basis. Historically I am pretty good at tests in general, having aced the LSAT after two months of self study.

I am not complaining about the situation I am in, but you only live once. Taking aside the question of admission (I do think I have a decent shot at an M7, though perhaps not the top 3), what is the real "power" of an MBA for a 40-year-old (upon graduation)? I am competent, have the relevant experience, and look/think young, but is an M7 MBA as magical a key to open new doors as people say for a 40-year-old?

I am also looking at EMBA, but I do think that for me to "transform" from an M&A lawyer to an operational person so that I am no longer the tax guy with some business experience, I will need two years of "enlightenment" and, more practically speaking, prep.
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Quit $200k job for top MBA program? 27 Jul 2020, 14:58
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338h10
I am a 38-year-old inhouse (F500) M&A tax lawyer making $200k+/year. It is a stress-free, 9-5 job in an affordable secondary city that would comfortably lead to a $350k/year officer position (to the extent I don't mess up) -- my boss is 60, and other than him no one in the company can do what I do. But I want to do more and make more -- I consider myself more of an operational person, but currently I am being pigeonholed into a specialist . As is, there is no way I could become the CEO or COO of my company, and there is close-to-zero chance that I will get to have an investment or operational role at a PE (I could get a support position at PE making somewhat more, but it is not going to be a better job than my current one). Financially, my goal is to be able to make 8 figures for at least five years before I retire.

Only the M7 would make sense, but I am more focused on getting into the top 3. I should be able to ace the GMAT, having scored in the top 1% percentile in LSAT and being pretty good with math. As an M&A tax lawyer, I have to be well versed in both law and finance. But I am OLD. My legal career is also not as lengthy as my age suggests, because I had a different (but completely explainable) career beforehand that was not related to law, finance, or business.

Should I apply? What's my realistic chance of getting into a top 3 or M7 assuming great GMAT score? Would the whole MBA make sense given my situation?

The alternative is for me to get back to BigLaw or Big4 and fight my way to partnership. But that is just as hard as gunning for PE or a CEO position, and I will not be doing something I really love (which would then make the effort even more difficult).

Thanks!
Show more
You seem well to do in the current job,
Why not get a part time MBA degree instead?
You can gain the business acumen and still progress in your current job. If your employers are aware that you want a promotion to a more C suite position post-MBA, you can do so.
Also, with your level of Work ex and desire to get a C-suite Position, EMBA is better suited. People with 12+ years of experience apply for EMBA. But I do suggest you consult with someone with regards to this.

I don't see why someone would leave a job that will get them more than the post-MBA salary (170k average for top ones). If the desire is to go into C-level jobs, you can get a part time MBA and earn as well. But I am just giving an opinion here.
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Quit $200k job for top MBA program? 27 Jul 2020, 15:49
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Businessconquerer

You seem well to do in the current job,
Why not get a part time MBA degree instead?
You can gain the business acumen and still progress in your current job. If your employers are aware that you want a promotion to a more C suite position post-MBA, you can do so.
Also, with your level of Work ex and desire to get a C-suite Position, EMBA is better suited. People with 12+ years of experience apply for EMBA. But I do suggest you consult with someone with regards to this.

I don't see why someone would leave a job that will get them more than the post-MBA salary (170k average for top ones). If the desire is to go into C-level jobs, you can get a part time MBA and earn as well. But I am just giving an opinion here.
Show more

Thanks!

I thought about part time programs. A couple of things against them: (i) it takes at least 3 years but most likely 4 -- time is of the essence in my situation; and (ii) There is no good business school in my city. So if part-time I may have to do an online program with a top school, which may not offer me the necessary level of big-city, in-person networking opportunities that can lead to the kind of offer I am looking for.

EMBA is more doable, but I always thought it is for people who want to do better on their existing track, not switching track. I also only have about 7 years of experience (as mentioned, I had a different career before).

As to my current job, I was hired specifically to do one job, and one job only -- it is THE dream job if you happen to like what I do, but I don't. It would not make sense for my company to create an operational role, with great pay and/or career upside, for a tax lawyer who just got an MBA, when there are already many waiting in line who have spent their entire career with the company.
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Quit $200k job for top MBA program? Updated on: 27 Jul 2020, 15:57
Originally posted by freedom128 on 27 Jul 2020, 15:53.
Last edited by freedom128 on 27 Jul 2020, 15:57, edited 1 time in total.
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I agree with Business conquered.

Basing on your story, it is prudent to take EMBA or part time MBA as sooner or later, you can climb to higher position.

If you feel unsecured with your current career, then full time MBA does make sense to do career switch

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Quit $200k job for top MBA program? 27 Jul 2020, 15:56
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chondro48
I agree with Business conquered.

Basing on your story, it is prudent to take EMBA or part time MBA as sooner or later, you can climb to higher position.

If you feel unsecured with your current career or/and want career switch, then full time MBA does make sense

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What I am looking for is exactly a career switch, not advancement of my existing career (which is otherwise secure and sound).
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Quit $200k job for top MBA program? 27 Jul 2020, 16:46
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It is an interesting situation!

What are your mba goals? Where do you see yourself landing post MBA? And in which industry?

Which MBA programs would you be targeting?

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Quit $200k job for top MBA program? 27 Jul 2020, 21:34
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338h10
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338h10
I am a 38-year-old inhouse (F500) M&A tax lawyer making $200k+/year. It is a stress-free, 9-5 job in an affordable secondary city that would comfortably lead to a $350k/year officer position (to the extent I don't mess up) -- my boss is 60, and other than him no one in the company can do what I do. But I want to do more and make more -- I consider myself more of an operational person, but currently I am being pigeonholed into a specialist . As is, there is no way I could become the CEO or COO of my company, and there is close-to-zero chance that I will get to have an investment or operational role at a PE (I could get a support position at PE making somewhat more, but it is not going to be a better job than my current one). Financially, my goal is to be able to make 8 figures for at least five years before I retire.

Only the M7 would make sense, but I am more focused on getting into the top 3. I should be able to ace the GMAT, having scored in the top 1% percentile in LSAT and being pretty good with math. As an M&A tax lawyer, I have to be well versed in both law and finance. But I am OLD. My legal career is also not as lengthy as my age suggests, because I had a different (but completely explainable) career beforehand that was not related to law, finance, or business.

Should I apply? What's my realistic chance of getting into a top 3 or M7 assuming great GMAT score? Would the whole MBA make sense given my situation?

The alternative is for me to get back to BigLaw or Big4 and fight my way to partnership. But that is just as hard as gunning for PE or a CEO position, and I will not be doing something I really love (which would then make the effort even more difficult).

Thanks!

This is a big decision which no one can suggest you about. Well their are folks at 38 who go for MBA but since your position in current company is sweet, except that you are looking for more, it makes the even more tougher. I can understand your concern of COO/CEO as i have seen reports/studies about why people from specific background find it difficult to reach up that level. But i firmly believe nothing is impossible.

However, I can't find anything that can add value to what you are looking. Have you given a mock just to get a raw score? Was your LSAT recent?

Thanks.

I haven't done a real mock, but the sample questions I checked out appear easy to me. My LSAT was not recent, but what I do on a daily basis now is much more intellectually challenging than whatever the LSAT provides -- The LSAT wasn't too difficult for me at the time, and looking back at some of the LSAT questions, I find them rather straightforward now. On the math side, I should do fine -- I had a pseudo engineering background and still have to work out all the complex tax models on a daily basis. Historically I am pretty good at tests in general, having aced the LSAT after two months of self study.

I am not complaining about the situation I am in, but you only live once. Taking aside the question of admission (I do think I have a decent shot at an M7, though perhaps not the top 3), what is the real "power" of an MBA for a 40-year-old (upon graduation)? I am competent, have the relevant experience, and look/think young, but is an M7 MBA as magical a key to open new doors as people say for a 40-year-old?

I am also looking at EMBA, but I do think that for me to "transform" from an M&A lawyer to an operational person so that I am no longer the tax guy with some business experience, I will need two years of "enlightenment" and, more practically speaking, prep.
Show more
Without further getting into details, it's better that you get your profile evaluated since your are focused on career switch. Add the GMAT score you are targeting in your profile.
If you are that focussed then your application would be very reflective which is good sign.