Is An MBA Worth It?

Have you ever wondered whether or not you should get your MBA? 

This is one of the most common questions that I get asked by job seekers.

Here are the 7 instances when it makes sense to get you MBA 👇

1. You know exactly where you want to go AND you’ve gotten consistent feedback from hiring teams that the only thing between where you are now and where you want to go is an MBA.

Note: seeing an MBA in a job description does not equal consistent feedback. 

Many people get an MBA, only to be disappointed that it wasn’t a significant difference maker in their job search.

2. You want to pivot careers. 

Getting an MBA is a great way to pivot into a new industry or job function without having to take a massive pay cut.

Before going this route, make sure that the school has a track record of helping people in your shoes make similar pivots!

3. You want to go into consulting or investment banking. 

Another consideration here: you’ll have a MUCH easier time breaking into these industries if you go to a top 25 school (preferably even top 15). 

You can still achieve success regardless of where you go, but in general, not all MBA’s are perceived equally by employers.

4. You have considered your target school’s resources and network and how that aligns with where you want to work post-MBA. 

For example, I really wanted to be in southern California post-MBA. Notre Dame has a fantastic alumni network…in the midwest and east coast. If I had to do it over again, I probably would have targeted a west coast school like USC given my location requirements. 

Similarly, if you’re working on your own startup, you’ll want to make sure your target school has the adequate resources for entrepreneurs, funding access, etc.

5. You’ve mapped out the finances 💰

This is the BIGGEST consideration that I like to call out. Getting an MBA is expensive AF ($100K+ for tuition). If you do a full-time program, consider living expenses AND the cost of foregoing two years of your current salary.

Map out how long it will take you to recoup your investment and start actualizing the benefits of your higher post-MBA salary.

If you can get a scholarship, receive help from your family, or have your employer pay for it…then get an MBA all day 💯

6. You’re interested in the material itself or improving your business acumen.

Getting an MBA pretty much guarantees that you’ll learn more how the different aspects of a business work together.

There are certainly less expensive ways to gain this knowledge, however, so I don’t usually recommend getting an MBA if this is your SOLE reason. 

7. You’re wanting to experience world-class leadership and learning opportunities. 

Many MBA programs offer one-in-a-ki nd experiences that are incredibly fun, impactful, and memorable. I got to do consulting projects for Jack Daniels and McDonald's, and travel to Shanghai to meet with Microsoft executives and learn about running a global business.

I know people who have traveled to Israel, climbed the world's tallest mountains, volunteered and worked on consulting projects in Africa and South America, and more - all as a core part of the programming that various MBA programs offer!

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