Can't decide if I want to go for an MBA. A question for those working in F500 industry
Have you wished that you pursued a career in other fields like medical, dental or pharmacy because of the lifestyle that they provide?
I am trying to decide whether getting an MBA is a right thing for me. I have been accepted into the MBA programs at Duke, but IB or consulting is definitely not what I would like to do. In fact, I applied to the program for the healthcare management concentration, and this was what I originally had wanted to do. I have a strong background in science field, and I have been working as a medical research associate right after ug.
I know it sounds weak and might even disgust many of you here, but I want a job that provides a good work-life balance (working 40~45 hours), and I also would like to be able to make low to mid 100k salary. I am just trying to figure out if getting the MBA and working in the industry would provide me the lifestyle I want.
Post MBA you will not be working 40 hours anywhere. Plan on roughly 50-65, more during fire drills and projects. Expect to take work home as well.
Your future lifestyle will depend largely on how you finance the MBA. If you're stuck with 200K in loans at 7% interest at the salary level you want you'll have to choose between maintaining a decent lifestyle and trying to build actual wealth; it will be near impossible to do both unless you find some cheap backwoods area to live in-which would in turn affect your job/networking prospects later on. I urge you to give serious thought to what your goals may be in the next few years-marriage? Kids? House?-and see what it looks like to have 40% of your take home gone while trying to attain those things.
I agree with the previous poster. If you are happy with staying in corp fin, I'd consider getting your CPA and/or getting a part time mba. I'm currently in a similar boat to you and haven't made up my mind either way either.
I work in Corp Finance at a F15 company. I have my CPA and got admitted to NYU Part Time MBA. Ultimately decided not to go.
Key question is: What kind of role do you want? If its Corp Finance at F500, I'd recommend going for the MBA. Are you already working at a F500 company? If so, get the part time MBA and use that to get a finance/strategy/marketing/whatever role you want. If you're not in a F500 company, go full time.
Sounds like your undergrad was not in business, in which case, you'll need the MBA.
That's a heck of a lot of debt to take on for a $100k salary. If you are a medical research associate you probably have an amazing eye for detail and a solid ability to translate information, analyze facts and communicate key concepts.
Have you considered a compliance role or operational internal audit with a pharma or device company? You could probably apply for the roles now without taking on additional debt (maybe at an $75-85k Senior level for 2-4 years before promoting) and a manager level role would have the comp you are looking for long-term. If studying for the sake of learning is worth the cost for you, I hope you have rich parents. Satisfying Duke-level debt will take a lot of your $100k income.
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