<p>I am not a regular poster but I wanted to ask your thoughts on whether it makes sense to pursue an MBA with my background?</p>
<p>I graduated college from a top 15 school with very solid grades (3.8+ GPA) in a competitive major. I did investment banking at a bulge bracket investment bank (think JPMorgan, Credit Suisse, etc.) and did that for about 4-5 years and got promoted from analyst to associate (which generally requires an MBA degree from a top program unless you are an analyst promote) during the financial criss, when a lot of people were getting laid off. I had a wonderful experience and was very grateful for my experience but decided to leave to pursue my entrepreneurial ambitions and left on great terms. Everyone was sad to see me leave but was very supportive of my decision, which I really appreciated.</p>
<p>I co-founded my own company and within a year, we are going to do about a million in sales. So, business is going very very well and I cannot complain, since many people don't necessarily succeed in the start-up route. I am very grateful and appreciative of the opportunities I have been afforded. However, I am facing a dilemma, since many of my peers and friends from my college are either attending or being accepted to very prestigious b-schools like Wharton, Harvard, Stanford, Kellogg, Chicago, Columbia, etc. Most of my friends think I would be "crazy" to pursue an MBA at this point, since they think it will not be required for my long-term success. I'm just not sure...</p>
<p>I know that given my experience in banking and the start-up experience combined with my undergraduate record, I would have a good chance (not a guarantee) at the above programs. But, if I don't apply, I have zero chance. My business partner is very against me pursuing the MBA route as this would take time away from the business (from completing applications to potentially going). Am I doing myself a disservice by not pursuing the MBA route? I am not sure that i need it, since I am an entrepreneur. It is also a lot of money. But, if I got into Wharton or Stanford or Harvard, would it be worth it? Would be going to a top 3 B-school for the "prestige" and "network" be worth it? </p>
<p>Thanks in advance for reading the long post! Please let me know your thoughts. Thanks again.</p>
<p>Peer pressure would not be a reason to get an MBA in my book.</p>
<p>If you are planning on changing careers, getting an MBA should help you decide what opportunity to pursue and enable you to advance in that new career.</p>
<p>If you are planning on growing your existing business as big as you can, the question is what tools will an MBA give you that you do not already have or cannot acquire through talented employees. If you think the MBA will get you to the next level, it might be worth it.</p>
<p>If you have had a life long dream of getting an MBA from a top school, that answers your question right there. </p>
<p>Is it the degree or the skills that would serve you most in the short term? How about in the long term?</p>
<p>Top MBA programs have less than full enrollment programs designed to attract people like you. It’s good for them and their students to have someone who still in the field. You should look over websites/brochures and see what alternate programs might suit you. Not everyone drops everything for two years to crank out the degree in 2 years – but if you get solid knowledge that you can apply to assist your current business and it takes 4 years, then everyone is happy.</p>
<p>I would not take on an MBA program while you are still in start-up mode. An MBA from a top school, even part-time, will take a lot of your energy that should be going towards your business. Wait until your company is really successful and you have enough employees to be able to handle most of the day to day activities. I did my MBA part-time and it was not easy to handle while working full-time. I have a corporate job, so it is not as intense as a start-up. </p>
<p>You are getting a real-life MBA with your company, and are probably learning more than you would in an MBA. You can always go back for your MBA at any point. Don’t take the risk of damaging your company for a degree. </p>
<p>What do you really learn at a top MBA program? As far as coursework goes, you dig into a variety of areas of business study – accounting, marketing, finance, business law, information systems. Then go into more depth in whatever you major in. A lot of the top schools are case study schools, so you read about a lot of companies and work through a lot of information and data to practice identifying the key information. And you network, meet other MBAs – but very few of them will have accomplished as much as you already have, and honestly some never will.</p>
<p>My opinion is it isn’t worth it for you. if you want to learn more business basics, take a few classes or read some books on the areas you want to dig into more. </p>
<p>Your friends are giving you very good advice. Pursuing an MBA would be a distraction at this time. Just as important, if your career and your business are already taking off, don’t break the momentum that you have. You don’t need the credential. Your achievements are their own credential. Steve Jobs never completed any college degree (except receiving honorary ones). Nor did Mark Zuckerberg. Larry Page never finished his PhD (but I think he was awarded one based on his achievements in developing Google). </p>
<p>If you feel you have something you want to study in a formal way, however, then take a course or program to learn that, or spend some time reading on your own. That way, you could do much more focused study of subjects that might have practical value to you. </p>
<p>And by the way, congratulations on your flourishing business!</p>
<p>1st thing I would say is that we as humans make decisions based on emotions. Emotions underlie ALL our actions and it’s very important to understand those drives. Why do you want to get an MBA?</p>
<p>Do you see all your friends going to prestigious universities and feel that you being left out or missing something?
Are you bored of your day to day tasks and long for the excitement of college? </p>
<p>Unlike the previous posters I would NOT discourage you from pursuing an MBA. Instead I say you need to justify it for yourself. </p>
<p>How vital are you to your business? Could you find a replacement.
Are you passionate about what your start-up is doing? </p>
<p>These kinda of situations are not black and white. You need to justify for yourself if it is worth it. </p>
<p>Why do you want an MBA? Do you need it to make your current business more successful? Do you need it for your future career goals? Ask yourself those questions before you take time off from what seems like a successful start up. Unlike other graduate programs where you can get funding and tuition paid through teaching or research assistantships, MBA programs are expensive. I think you need to figure out the answer to those questions before you make a decision.</p>
<p>You’ve already left one job to work for yourself. That usually indicates that you probably don’t want to work (again) for one of the types of firms that typically hires MBAs. To me, that it the biggest reason to get an MBA…the recruiting “springboard”. If you don’t expect to use that, and if you’re smart and thoughtful (probably are because of your background), I’d say its not the highest use of your time and resources. </p>