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I am debt free and in my late 20s but not currently employed. A string of bad luck last year and I missed some good opportunities. To upgrade my background while also advance my career path, I decided to apply to several MBA programs that start in a few months.
I got into full-time MBA programs such as UCLA and Duke. The problem is that after running some calculations, I will come out of school owing about $100K-$110K including living expenses. Would this debt be worth it? I believe that it will be a good learning experience and help my career, but the debt level for tuition these days is daunting.
What is your career background and what will be the focus of your MBA? The answer to these questions is needed to give you a proper opinion. Also do you have any funds saved? A spouse or kids?
Also, when you create a post on CD, how do you get the title to be in bold print?
If you are unemployed now, adding a MBA next to your business card will not help. Either you have the gift or you don't. The successful MBA graduates, at least that I know, had huge charisma, huge GPAs, and had a full ride from the university.
Some are successful now but took 20 years of hard work to get there and they did not have 100k of debt either.
I am debt free and in my late 20s but not currently employed. A string of bad luck last year and I missed some good opportunities. To upgrade my background while also advance my career path, I decided to apply to several MBA programs that start in a few months.
I got into full-time MBA programs such as UCLA and Duke. The problem is that after running some calculations, I will come out of school owing about $100K-$110K including living expenses. Would this debt be worth it? I believe that it will be a good learning experience and help my career, but the debt level for tuition these days is daunting.
Quote:
The current average salary of 1992 UCLA Anderson alumni is $196,269, while the average bonus is $214,200, for total compensation averaging $410,469.
The people I know who got MBAs did it on their employers' dime.
I think it is crazy to take on that amount of student loan debt.
That's not so common these days as it was before.
I'd really think twice about going to get an MBA while unemployed, however. On the one hand, it's the least expensive time to do it since the opportunity cost is zero. On the other hand, it's the best time to come out of school with another $100k in loans and not get a job.
I faced that decision four years ago and opted out of either Law/MBA route. YMMV. Occasionally I regret the decisions, but it's impossible to really say that it's just not grass is greener on the other side of the fence thinking.
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I say no
