GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 15 Nov 2018, 11:03

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel
Events & Promotions in November
PrevNext
SuMoTuWeThFrSa
28293031123
45678910
11121314151617
18192021222324
2526272829301
Open Detailed Calendar
  • Advice For Applicants Considering Round 2

     November 16, 2018

     November 16, 2018

     10:00 PM MST

     11:00 PM MST

    Many of you may be wondering whether you should pull the trigger and apply to business school during round 2 this winter.
  • Save up to $500 on MBA Admissions Consulting!

     November 21, 2018

     November 21, 2018

     10:00 PM PST

     11:00 PM PST

    Apply with confidence using an Accepted admissions expert, save money and get accepted!

With a $200k job, do i still need a MBA?

  new topic post reply Update application status  
Author Message
Intern
Intern
avatar
Joined: 28 Jun 2018
Posts: 1
With a $200k job, do i still need a MBA?  [#permalink]

Show Tags

New post 28 Jun 2018, 11:46
After graduated from a top UK university with a Bachelor and Master in Economics, I have spent 10 years working in investment bank in London, 7 years at Goldman Sachs and 3 years at a small bank as a Sales Trader. I'm currently earning over $200k a year.

I had some health issue recently (worked too hard!!), so I decided to take a break from work and resigned. I'm not sure what I want to do next, is getting an MBA a good way to re-charge myself and start a new career?

My concerns are:
1) post MBA average salary is about $120k, not sure spending another $90k will do any better than my current rate?
2) I seem to be a bit over qualified for MBA in terms of work experience and age, but under qualified for EMBA.
3) I want to move back to HK therefore I'd like to do MBA in HK, would that help me to get local market knowledge and connection for a future career in Asia?
4) most importantly, do I really need an MBA or shall I just go back to the job market to find a job after my break? I dont mind doing the same job again but after 10 years I'd like some change.

Any thoughts or suggestions are welcome, thank you!
SVP
SVP
User avatar
P
Status: MBA Admissions Consultant
Affiliations: MBA Prep Coach
Joined: 24 Mar 2015
Posts: 1541
Farrell D Hehn: MBA
Re: With a $200k job, do i still need a MBA?  [#permalink]

Show Tags

New post 06 Jul 2018, 20:39
amywubing wrote:
After graduated from a top UK university with a Bachelor and Master in Economics, I have spent 10 years working in investment bank in London, 7 years at Goldman Sachs and 3 years at a small bank as a Sales Trader. I'm currently earning over $200k a year.

I had some health issue recently (worked too hard!!), so I decided to take a break from work and resigned. I'm not sure what I want to do next, is getting an MBA a good way to re-charge myself and start a new career?

Hi @amywubing he first thing you should do is establish your 5yr to 10 yr career plan - otherwise it's ready-fire-aim and I feel that is far too risky when dealing with a student loan of $100K to $200K. My responses below:

My concerns are:
1) post MBA average salary is about $120k, not sure spending another $90k will do any better than my current rate?:

It depends. If you are a Wharton Finance grad, yes. I do think only thinking about this decision from the standpoint of money is ill-advised.

2) I seem to be a bit over qualified for MBA in terms of work experience and age, but under qualified for EMBA. :

You would be a good candidate for Sloan Fellows:
http://mitsloan.mit.edu/fellows/admissions/who-should-apply or possibly Stanford MSx https://www.gsb.stanford.edu/programs/msx/admission which are both intended for mid-career professionals. However you are also in the EMBA territory if that holds more interest than an MBA, I've gotten clients as young as 30 into Wharton EMBA.

If you are looking to switch role/industry/geography then MBA is best and yes, you will start at the bottom. EMBA is possible, of course, but no on-campus recruiting.
If you are looking to get into an adjacent field or establish a high-powered network then EMBA is fine. You leverage alums to find jobs, mainly.

Many candidates in your situation (Amazonians, etc) look at their potential growth into upper management and decide to take the pay cut for that reason.
However it's important to think about other, less expensive ways to get where you want to go (and balance that with the time needed to get there.)
But strongly urge you and everyone to shell out a few shekels for career coaching before throwing the dice on $200K.
Establish your goal and make sure it lights you on fire.

3) I want to move back to HK therefore I'd like to do MBA in HK, would that help me to get local market knowledge and connection for a future career in Asia?

Would look at top brands: HBS, Stanford, Wharton, MIT, Yale and maybe Columbia for US schools.
For European schools, the average age is around 30 and they like older more experienced candidates.

You might consider INSEAD and LBS to position you for a career in Hong Kong. Both are 97% international students are have an international focus.

However again, strongly urge you to do the research on yourself, the schools and your goals first. Then, contact the person/people/contacts/recruiters you plan to sell this degree to and ask them squarely!~ no reason to make it a $100K-$200K guessing game IMO.

4) most importantly, do I really need an MBA or shall I just go back to the job market to find a job after my break? I dont mind doing the same job again but after 10 years I'd like some change.

See above - answer is different if you want the same job again or change? Not sure what you mean here this seems contradictory.

Any thoughts or suggestions are welcome, thank you!

_________________

Farrell Dyan
http://MBAPrepCoach.com
"You don't often come across people so perceptive and empathetic." - EM, NYC

GMAT Club Bot
Re: With a $200k job, do i still need a MBA? &nbs [#permalink] 06 Jul 2018, 20:39
Display posts from previous: Sort by

With a $200k job, do i still need a MBA?

  new topic post reply Update application status  


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.