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Should I give up good paying job to do a MBA?

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Joined: 25 Mar 2019
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Should I give up good paying job to do a MBA?  [#permalink]

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New post 25 Mar 2019, 14:32
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Not sure if this is the right place to make this post.
I have been really struggled in this very question, any insights or suggestions will be appreciated.
Should I give up good paying job to do a MBA?

What I want to achieve: I want to be all time great like Warren Buffett.
Where I am now: $200K+ base a year. Not stressful, has a lot of respect at work. I don't hate or love my work.
Why I consider doing a MBA: I want to LEARN more, I want to do more, I want to work with people who also want to improve.

I'm 28, I want to be legendary in investing (what I enjoy) and making much more money.
I have checked all the top schools' report on salary of students after graduate, I have already made more than most of those people.
Also, the cost seems too high, 100k tuition + 200k * 2 (years not working) + all the time needed to spend with family.
Can the knowledge from bus school really get me to know more about investing business and make more money?
I have invested some time in GMAT, but when I'm thinking about WHY B-school, I'm lost.
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Should I give up good paying job to do a MBA?  [#permalink]

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New post 25 Mar 2019, 16:01
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Welcome to GMAT Club!

Congrats on achieving the pay level and professional accomplishments. Most Top schools these days put out folks at 150K-180 level, so barely touching where you are already and it would cost $200K for tuition and living expenses plus 2 years of opportunity cost, so financially it may not be a clear winner.

MBA is a lot of work. It is not something you buy per se - you would have to take the GMAT, then spend lots of days writing essays, bugging your boss for letters of recommendation, doing interviews, shmooze, do volunteer work if you are not engaged in that already and likely spending money on prep and admissions as well to get into a top school. It has to be worth it to keep you motivated during an arduous 9 or 12 month process and there is no guarantee of success either during this time.

Most of us have gone for an MBA because we needed a change. Change of career or change of ourselves - we may have wanted to grow professionally or personally. We may have reached a ceiling at work or a dead-end in a career. Many people don't look at an MBA as a financial equation - it is a combination of the experience, opportunity to challenge oneself, and come out stronger, better, and more confident.

At the same time, some of us are/were hell-bent on getting an MBA, whatever the cost and that's not right either. There are many roads to the end goal and MBA may not be the only one.

So it comes back to Why MBA - https://gmatclub.com/forum/why-mba-277349.html - take a look and see if this resonates with you. You can look at the PT MBA or EMBA in a few years if you think it is of value. While allowing you to keep your job, PT MBA still costs quite a bit and takes 3 years of your nights and weekends.
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Should I give up good paying job to do a MBA?   [#permalink] 25 Mar 2019, 16:01
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