The last few weeks has been an emotional roller coaster!
On 5/22, I received a call on my way to work from London Business School (LBS) that I had been admitted to join the class of 2020! I was ecstatic! My 4 months of cramming for the GMAT while applying had paid off!
After the initial excitement wore off, I started to evaluate if getting an MBA would truly be worth it.
Here are the few ways I evaluated:
- ROI of an MBA
- Pro/Con list
- LinkedIn Stalked Professionals with and without an MBA
- Imagine next 5 years
- Spoke with friends, mentors, recruiters
- Pro/Con List
Pros:
- Accelerate my career
- Managerial skills
- Build business acumen
- Not be hindered by "MBA Preferred" in future job search
- Meet amazing people from around the world aka that "network" that they talk about
- Cost- going in debt $100-200K(?)
- Do I really need it? Already have 6 years of experience
- Time lost/salary foregone
- MBA as an escape
Conclusion- No distinctive difference, but I only had a dataset of 50 people, so I don't think that's enough to have significant findings.
I did find an interesting article- Only a Third of World's CEO have an MBA.
That's either a lot or a little. Up to you to decide. But do you really NEED an MBA?
- Last 5 years: In 2013, I moved to Silicon Valley in April and to Singapore in July working with a major tech company. Then in 2015, I traveled for 6 months (1 volunteering in Mongolia, 5 in Europe), then I moved back to Los Angeles. There was a lot of personal and career development, where I earned my PMP and took a Product Management course with General Assembly. Being in different countries and work environment has really taught me even more than staying in one place would have.
Next 5 years: Be in a managerial role- this is important for me, because I'd like to be able to make strategic decisions and also be in a position where I can mentor and help others.
Find another job in tech, probably start-up, and continue to work my way up to managerial role while staying in LA.
Go to LBS for 2 years, building network in Europe and around the world (90% of students at LBS are international). Be able to explore other opportunities. Then either work in EU or US building my skills up to managerial role.
- Friends/Family/Mentors: Got a lot of support in general but also a mixed review.
Conclusion: I struggled hard to make this decision. If money wasn't a factor, no questions, I'd go.
It ultimately came down to "Would I regret not earning an MBA in the long run?" While I wouldn't know for sure, I think I would regret it.
This is the perfect time for me to focus on myself before I have serious commitments or other people depending on me. Money & time are huge factors, but in retrospect, I don't think they'll matter as much as the learning opportunity! It's time to invest in myself!
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B-Schools I applied to:
- London Business School: Admitted
- USC: Rejected
- UCLA: Rejected
- INSEAD: Interviewed
Posted from my blog with SteemPress : http://joybeingjoy.com/?p=3904