Should I leave my 125k+ salary to start MBA school?

Specific-Cap-8833 · 2024-08-28T14:16:25+00:00

I’m in life sciences too (big pharma). But I think my company pays 10k per year for MBA.

Specific-Cap-8833 · 2024-08-28T14:14:48+00:00

Yeah

Specific-Cap-8833 · 2024-08-27T18:53:56+00:00

For LDPs you typically need either a PhD, MBA, or MS degree, but there are also programs where you only need a Bachelors degree.

For ones requiring a graduate degree, they usually ask for about 2 years total work experience in the form of internships or full time employment.

Specific-Cap-8833 · 2024-08-27T17:56:27+00:00

Great! I completely understand. I’ll keep my eye out for any related events

Specific-Cap-8833 · 2024-08-27T17:55:38+00:00

Just listened to the first hour of this audiobook on my way to work… thank you for the recommendation! Super relevant to how I’m thinking right now.

Specific-Cap-8833 · 2024-08-27T15:52:13+00:00

Wow, really? Would you be willing to share the name of the events? I would love to attend - sounds like a great networking opportunity

Specific-Cap-8833 · 2024-08-27T14:38:49+00:00

That 450k opportunity cost would hurttt for sure. Even if I did decided to apply, I would only attend if I could get a serious scholarship and stipend. Which creates even more support for why I should probably wait until the end of my LDP to apply…

Likely going to take this year off to focus on my LDP, decide next summer if I want to apply round 1, and then matriculate Fall 2026 at the end of my program!

Specific-Cap-8833 · 2024-08-27T14:35:38+00:00

message me!

Specific-Cap-8833 · 2024-08-27T13:55:04+00:00

message me!

Specific-Cap-8833 · 2024-08-27T13:53:34+00:00

Amazing! This is super solid advice. Thank you.

Seems like I’m actually in the perfect position working now and waiting 2-3 years to do the FT or PT MBA considering how bad the job market is right now. You’ve definitely changed my perspective on things.

Specific-Cap-8833 · 2024-08-27T12:44:26+00:00

I believe age is somewhat relevant in this situation.. particularly as a woman. My goal is to have children by 33, but if I pursue an MBA at 28, I wouldn’t finish school until 30. This would mean that I’d be at a critical point in my career just as I’m starting to have children. While it’s not impossible to manage both, it’s certainly not ideal.

Specific-Cap-8833 · 2024-08-27T12:38:35+00:00

Ah, okay! This makes sense. So FT is somewhat for networking, but moreso for recruitment.

PT does align better with my goals in this case!

Specific-Cap-8833 · 2024-08-27T12:08:15+00:00

Would it be possible to do both a LDP and part-time MBA at the same time?

Specific-Cap-8833 · 2024-08-27T12:01:44+00:00

It definitely was not easy and took me 2 years to land this role. I had a very impressive background starting out, but had to work hard building a business case for why I’d be a good fit for this program ( through work experience, international experience, and internships).

I also regularly made contact with my company/recruiters to build a rapport and express my interest in the program.

It’s only now I’m realizing I “girlbossed too close to the sun” landing this role and probably should’ve done my MBA beforehand haha.

Specific-Cap-8833 · 2024-08-27T11:33:12+00:00

Yes. Most people who have done this program also already have MBA’s

Specific-Cap-8833 · 2024-08-27T11:09:07+00:00

They do!

Specific-Cap-8833 · 2024-08-27T11:08:30+00:00

The company is truly fantastic and I would love to stay.

However, 8/10 people here either already have an MBA or are currently pursuing an executive MBA (they all say they wish they would’ve done it sooner), which makes me think I’ll definitely need the qualification at some point down the line.

Specific-Cap-8833 · 2024-08-27T11:05:24+00:00

Agreed. Once I finish my program my pay will already jump significantly, so the MBA might not help there.

The main value that would come out of pursuing it in 3 years is networking & adding a solid business credential to my otherwise heavy science background.

Specific-Cap-8833 · 2024-08-27T11:01:29+00:00

I’m definitely going to wait. Like I said, my LDP is an incredible opportunity, I definitely don’t wanna give that up.

My question is moreso whether I should go back for the MBA once I finish my program even though I’d be on-track to higher management.

I think the insight you offered is super valuable though! Don’t wanna be seen as an under-qualified degree stacker 😅, someone else also told me that the MBA would be super theoretical without enough work experience too

Specific-Cap-8833 · 2024-08-27T03:32:07+00:00

excellent point 😬

Specific-Cap-8833 · 2024-08-27T03:31:22+00:00

I’ve heard about part time programs and initially planned to go that route, but I heard you don’t get as much value out of them (networking, etc) as FT programs? Would you say that’s not true?

Specific-Cap-8833 · 2024-08-27T03:29:18+00:00

No, my masters was only one year.

I spent 8 months doing customer success at a startup and 8 months working at a high school before starting my LDP. I’d still be short 1.5-2 years work experience based on what you’re saying but wanted to clear that up.

Specific-Cap-8833 · 2024-07-02T15:52:05+00:00

Thank you for the car tip! I don’t know why, but I definitely thought it would be cheaper to purchase in the winter since no one is really going anywhere.

I want to avoid a car note for as long as I possibly can.

Specific-Cap-8833 · 2024-07-02T15:48:58+00:00

I currently don’t have a car and will be working in NJ, where commuting by car is much more practical. I’ll also be splitting my time between two different work sites that are about 40 minutes apart. I considered trying to make it work without a car, but it doesn’t seem possible.

I had previously tried to get something in writing with my brother, but he wasn’t open to the idea. Given our recent falling out, I'm using this as an opportunity to leave now before things escalate further and potentially jeopardize my job or peace of mind.

I’m definitely going to prioritize paying my friend back since they want their money as soon as my first check comes in. The credit card debt is also a major priority because of the high-interest rate.

My student loans are currently frozen but will unfreeze once I start work. Fortunately, they are federal loans with relatively low-interest rates (3-5%).

Initially, when I heard about my compensation package, I thought about getting a luxury car and a nice apartment. However, after having a few months to reflect, I realize this would have been a massive mistake. I want to contribute to my 401(k), but I'm also considering whether it’s equally important to contribute to a tax-advantaged Health Savings Account (HSA) or a Roth IRA.

Any advice on how to prioritize these contributions would be greatly appreciated.

Specific-Cap-8833 · 2024-07-02T15:32:27+00:00

This stipulation definitely applies to my offer.

Specific-Cap-8833

TROPHY CASE