To get a high paying job these days from a mediocre MBA program you usually have to be young and willing to get dumped on stress/workload/travel wise. Dont expect the 3 letters by themselves to open any doors if the program name doesnt have any clout (top 10).
You pay for the name and the network, not the education. Any moron can grasp the common sense material. If you do go, focus heavily in quantitative fields like finance, operations, or information systems.
It sounds like you dont have much to lose (other than 40k) since youre working a low wage job and have decent enough experience that if you left for an MBA you could probably get a similar position worst case when you were done.
Your biggest challenges would be your age and potentially how to successfully parlay a grad degree and job counseling into something worthwhile in the biz world. Know what you want to do before you decide to go and have an exit strategy and start working your plan the day you set foot on campus with internships and networking.
Signed,
First off, it seems you guys both live very frugally and have managed to save a lot relative to your income. It sounds like your maxing out FW deals too (7k is pretty amazing if you're actually turning that much). So congrats on that.
Most MBA programs are worthless and exist only to extract money from you. Many of my co-workers have MBAs. I'd be surprised if any of them could run a business.
I'd say you're either looking at a full on career change, which is fine if you want to do that, but I'd find something a little more specific than "business" or "finance". You need to figure out an end goal job or jobs which you think you might like and would meet your salary requirements.
If you want to start your own business, you definitely don't need a MBA to do that. It'd be great if you could find something you could work part time while you keep your FT job until you get established, but I don't know how practical that would be.
I know people dump on franchises (I do too), but in your case, maybe you could dump some cash into that and essentially "buy" a better paying job?
B
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