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MBA or not?

 
#1 MBA or not?
12/12/2011 01:31

Sofiaeng

Hi,

I'm considering doing an MBA to shift my career to strategy consulting. I have been working in industry/in policy for four years and have an MSc from a top university. How likely would I be to secure a job with one of the top tier consultancies, without doing an MBA?

Thanks.

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#2 RE: MBA or not?
12/12/2011 10:16

Tony Restell (Top-Consultant.com) to Sofiaeng (#1)

I refer you to this piece I published in the last weeks which I think will provide the insights you are looking for:

http://news.top-consultant.com/UK/news_story.aspx?ID=8226

Tony Restell

Top-Consultant.com

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#3 RE: MBA or not?
13/12/2011 10:33

I to Sofiaeng (#1)

I have been also thinking of an MBA. MBA is great for networking.

One thing you should think of is the ROI.

Suppose you get into a top business school.

Tution fees= £50k

Living expenses=£15k

Your current salary= £50k

50k+15 k living expenses + 50k opportunity cost= 115k min

I would think the total cost ~£150k (including interest payments and other expenses).

So the question you need to be asking yourself is it worth the investment.

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#4 RE: MBA or not?
26/12/2011 19:09

MC Hammered to I (#3)

It's been a few months since I've been on this forum and the 'to MBA or not to MBA?' question is still going strong I see. I turned to this websites a LOT when I was in a similar situation (before and during my MBA) so for what it's worth, I thought I'd chip-in, having taken so much away from it.

I could not afford (or do not have the intellect more likely!) for the 'top-tier' MBAs, so I parted with my £20k and took a sabbatical from industry (salary £40k). Other than learning a great deal about several facets of 'business', I built a solid, albeit modest network whilst doing it.

To cut to the chase (and here comes the big-head part) I was lucky enough to be offered a job with the company I was doing my summer project with, and offered a job by a classmate who was a director. No interviews, just a straight offer.

I decided to stay in industry and return to my employer (despite hating it per-MBA) as i knew it was the least riskiest choice (given the climate and possibly due to my rather small 'minerals'), and the MBA has been a god send there too! I have been asked if I want to join our internal strategy team in Sydney to cut my strategic teeth (whilst I have learnt lots of theory, I guess there's no substitutes for hands on experience) for a year or so and return to the UK and help build a team. What, perhaps, I haven't emphasised is the amount of pushing I've had to do.

The opportunities wouldn't have happend without the MBA, but if I had returned to my employer and simply waited for things to happen, they simply wouldn't have. An MBA IS worth it, but don't simply get the letters and wait for things to fall in your lap.

Sorry, a slightly longer answer than intended, but hopefully it will convince you to do it!

Good luck and enjoy it!

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#5 RE: MBA or not?
20/01/2012 16:39

goldenegg12 to MC Hammered (#4)

An MBA can drastically turn one's career around. The most impressive change I've seen has been the success story of a former police officer who after seeing a lot of action as part of a UN patrol envoy in East Timor decided it was time to settle down. He went for a part time MBA at AGSM in Australia. You can read more on how he did it here http://www.businessbecause.com/news/MBA-Australia/from-aussie-copper-to-ernst-and-young-fraud-investigator-81263

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