MBA Decision- London Business School 2020

The last few weeks has been an emotional roller coaster!

On 5/22, I received a call on my way to work from London Business School (LBS) that I had been admitted to join the class of 2020! I was ecstatic! My 4 months of cramming for the GMAT while applying had paid off!

After the initial excitement wore off, I started to evaluate if getting an MBA would truly be worth it.

Here are the few ways I evaluated:

ROI of an MBA
Pro/Con list
LinkedIn Stalked Professionals with and without an MBA
Imagine next 5 years
Spoke with friends, mentors, recruiters

1. Money Under 30 has this helpful ROI Calculator that I used to figure out how long it would take for my earnings break even with the cost of B-school. Answer: +/- 10 years

Pro/Con List

Pros:

Accelerate my career
Managerial skills
Build business acumen
Not be hindered by "MBA Preferred" in future job search
Meet amazing people from around the world aka that "network" that they talk about

Cons:

Cost- going in debt $100-200K(?)
Do I really need it? Already have 6 years of experience
Time lost/salary foregone
MBA as an escape

3. List of people with/without MBA

Conclusion- No distinctive difference, but I only had a dataset of 50 people, so I don't think that's enough to have significant findings.

I did find an interesting article- Only a Third of World's CEO have an MBA.
That's either a lot or a little. Up to you to decide. But do you really NEED an MBA?

Last 5 years: In 2013, I moved to Silicon Valley in April and to Singapore in July working with a major tech company. Then in 2015, I traveled for 6 months (1 volunteering in Mongolia, 5 in Europe), then I moved back to Los Angeles. There was a lot of personal and career development, where I earned my PMP and took a Product Management course with General Assembly. Being in different countries and work environment has really taught me even more than staying in one place would have.

Next 5 years: Be in a managerial role- this is important for me, because I'd like to be able to make strategic decisions and also be in a position where I can mentor and help others.

Find another job in tech, probably start-up, and continue to work my way up to managerial role while staying in LA.

Go to LBS for 2 years, building network in Europe and around the world (90% of students at LBS are international). Be able to explore other opportunities. Then either work in EU or US building my skills up to managerial role.

Friends/Family/Mentors: Got a lot of support in general but also a mixed review.

Conclusion: I struggled hard to make this decision. If money wasn't a factor, no questions, I'd go.

It ultimately came down to "Would I regret not earning an MBA in the long run?" While I wouldn't know for sure, I think I would regret it.

This is the perfect time for me to focus on myself before I have serious commitments or other people depending on me. Money & time are huge factors, but in retrospect, I don't think they'll matter as much as the learning opportunity! It's time to invest in myself!

London, here I come! MBA 2020!

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B-Schools I applied to:

London Business School: Admitted
USC: Rejected
UCLA: Rejected
INSEAD: Interviewed

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