2-year MBA cheap vs. expensive options

[graphite]

so, is a 2 year MBA from a reasonably respectable university worth the 100K total cost? i got accepted to a decent, pricey, private school. i could, however, opt for the free-tuition (benefits from military service) route at a local state school which is not prestigious.

would be nice to walk away w/ a 2 year MBA and still be debt free. but maybe going to the expensive option is a better long term investment and/or provides better opportunities?

any past MBA's care to weigh in?

 

[nahneun]

aren't you getting an mba with the expectation of making at least 6 figures a year?

 

[bananananana]

what are the 2 schools, and your current job, and future job?

 

[tj100]

Originally Posted by graphite

so, is a 2 year MBA from a reasonably respectable university worth the 100K total cost? i got accepted to a decent, pricey, private school. i could, however, opt for the free-tuition (benefits from military service) route at a local state school which is not prestigious. would be nice to walk away w/ a 2 year MBA and still be debt free. but maybe going to the expensive option is a better long term investment and/or provides better opportunities? any past MBA's care to weigh in?
I think the generally accepted thinking is that a top 10 b-school is probably worth the sticker price (or more). The next ten (ranked 10-20) might be worth it, might not, depends what your lower-cost option is. Anything below #20, and you're better off doing it as cheaply as possible. I will add, seeing your location (Boston), that there are some circumstances where local schools punch above their weight in the local community. BC is not terribly highly ranked, but it has a very strong local alumni network, so it might be worth thinking about. The same can be said of USC in LA, or UT in Texas - if you're planning to stay local, they're not a terrible waste of $$$.

 

[gdl203]

All depends on what you're planning to do with your MBA. If you're going into a lucrative profession that really is only within reach of top school graduates, this will be a 2 year payback on your investment. If you're planning on becoming an entrepreneur, it's much harder to gauge which option has the highest NPV.

 

[Bhowie]

NPV method

 

[jfranci3]

If your goal after an MBA is a different job, then yes it worth 100k to go to the right school. If just education, any will do. It'll be A LOT easier to get recruited for a new job from a top-5/10/15/20 school than an evening program.

 

[graphite]

Sorry.


Boston University (private)

vs

UMass-Boston (public)


No job right now (quit to go to business school). Used to be military. Planning on a switch, but haven't figured that one out yet.

 

[tj100]

Originally Posted by graphite

Sorry.


Boston University (private)

vs

UMass-Boston (public)


No job right now (quit to go to business school). Used to be military. Planning on a switch, but haven't figured that one out yet.

That's a pretty tough call. On the face of it, BU is definitely not worth the $$$.

On the other hand, UMass-Boston gets so little respect, I wonder if that degree is even worth the two years of effort.

 

[jfranci3]

Career reset button = find school with best recruiting for the industry you want to be in. Talk to some grads, see how many have jobs...seriously. If you don't use your degree to get a better job straight out of school, it won't make a bit of difference. Boston Univ is a #34 ranked school. You need to see if you can get into MIT or broaden your location horizons.
Schools with good recruiting will also have the best networking. In grad school, you learn just as much from your class mates as the instructors.

 

[mintyfresh]

Are you able to look out of state? For a $100k program, you can do much better than BU.

 

[gdl203]

You really need to figure out what you want to do with this education/degree. That's step one. Even if you narrow it down to 2 or 3 career paths, it's better than "haven't figured that one out yet".

Based on that, you can figure out if it's worth taking any of these admission offers.

 

[newinny]

At BU, you'd probably get access to the broader alumni network which would be useful in getting job interviews. Also, I imagine there is more networking available with your fellow students than at U-Mass. Still, given all this, I'd probably choose U-Mass.

 

[imageWIS]

Originally Posted by Bhowie

NPV method

Why so angry?

 

[tks02]

Originally Posted by graphite

Sorry.


Boston University (private)

vs

UMass-Boston (public)


No job right now (quit to go to business school). Used to be military. Planning on a switch, but haven't figured that one out yet.

First, nobody pays $100K to go to BU. The tuition for two years comes out to $80, and almost everyone I knew had a grant. There were three vets in my class. If you'd like some more insight, feel free to pm me.

The best advice on this thread has been to:
1. figure out what you want to do after grad school (e.g. banking, marketing, non-profit)
2. figure out the which companies in that industry you want to work for
3. figure out which schools those companies recruit from

Period. Grad school is not the place to figure out what you want to do next.