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as another option, a number of workplaces will themselves pay for you to get your MBA, if (1) It is relevant and useful to your continued service to the firm, and (2) Either A) you will do it part-time and continue to work for them during the day, or B) you commit to returning to the firm after getting your degree, for a period of several years (typically 2-4), or else face mandatory repayment of their investment in you. Getting your MBA paid for will make your financial life a lot easier.</p>
<p>The trouble is that if 2B is true (you promise your firm you'll return after getting the MBA, and do so), you miss out on the recruiting opportunities offered to 2nd-year MBAs, because you can't go back 2-4 years later and tell the career office "uh, actually, could you help me find another job now?". So there's a tradeoff. But having it paid for is not all that uncommon.
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<p>That same problem is also largely true of option A. For example, I know that the part-time Haas MBA program specifically bars you from using the career services office unless you present a formal document from your current employer attesting to the fact that they have no problem with your doing so. That is to prevent any issues with your employer paying for your part-time MBA, only for you to use the program to look for another employer. I believe other part-time MBA programs have similar policies. </p>
<p>The other problem is not just specific to 2nd-year recruiting. It's to ALL recruiting, including the first-year summer internship recruiting. The easiest way to get a full-time offer from a company is to do a summer internship with them. For example, at the leading consultancies and investment banks, a highly disproportionate number of full-time job offers are handed to those who had interned with them in the previous summer. And even if you didn't intern with that specific company, as long as you interned with a similar company, then that still increases your odds of success. If you are tied to going back to your employer, then you probably have to return to them for the summer to work, which means that you never get that internship opportunity. For example, if you want to get into consulting in the future, and you have no prior consulting experience, it is recommended that you at least get a summer consulting internship. If you don't even have that, then you're really behind the 8-ball when it comes to competing for a full-time consulting offer. </p>
<p>Personally, I would say that one of the main reasons for even doing an MBA in the first place is to get access to the career office so that you can switch employers (or, often times, to switch entire industries). If you're just going to stay at your current employer anyway, then, unless we're talking about consulting or banking, there is often times not that much need to get an MBA. Maybe you can use it to increase your skills and therefore increase your promotion chances, so in that sense, it still has some value. But the fact that you won't be able to entertain offers from other companies eliminates much of the value of the MBA experience.</p>