The Pros and Cons Revisited

(Again, disclaimer, severely underslept. Baby Y thought last night was a good time to finish sleeping around 3 a.m., 2 hours after I fell into bed after a long night of studying for the 8:30 a.m. Time Series mid-term.)

So I do take requests. (Women in biz post coming soon ... ;) And I've actually been thinking of revisiting the pros/cons of the MBA (oh, the eternal question, no?) post so now is as good a time as any.

Working off the original list:

Reasons not to MBA:

1. I'm still a cheapskate - each monthly tuition bill stings in a big way
2. I still hate debt - no solution to this if you are not one of the full-ride/merit types or flush with cash
3. I still hate being graded and evaluated - but non-grade disclosure makes it less painful
4. I no longer hate paying to be graded and evaluated - neutral on this one now, see above
5. Baby Y puts a real crimp on my ability to exploit my MBA earnings - that's just the way it goes. But I can live with it.
6. MBA still feels like a 4-letter word - I just tell people that I'm in graduate school and leave it at that
7. I still prefer work work to homework - but my flexible schedule is pretty nice and the homework is easier than undergrad
8. I still like making money more than paying tuition - but the post MBA salary should make up for it
9. I'm still unconvinced that I need to attend an academic program to learn what I need for my work - honestly, while the GSB is above its peers on academics, I was hired based on my pre-MBA knowledge and could probably function just fine in my summer internship on my work experience and CFA alone. I am learning things but not as much as a career changer would.
10. I would still like to return to the Pacific NW ... someday - but I don't regret leaving and am feeling in less of a hurry to return as time passes
11. I no longer have doubts about the ROI - I would have earned a perfectly good salary w/o an MBA but I now have far, far more options about when/where/how/why/what in the way of career. The intangible rewards are huge and make it all worthwhile for me. (The post-MBA earnings should be pretty good too.) However .... this is not true for all career paths/people ... do your own calculations.

Reasons to MBA

1. I need to be around ambitious peers or I will die of boredom - I love my fellow GSBers! (Not all of them mind you, but enough of them.) Such a cliche but they really are the best thing about the experience, even for a stay at home nerd like me, ha. There is so much to do/join/lead/create/explore/discuss. No room for boredom.
2. Could not have advanced satisfactorily in my career without the MBA - If my summer internship is any indication I'm coming away from the GSB with my dream job. And if I hate it - there are other opportunities to be had. Though recruiting was a miserable, humbling experience, employers who would have previously thrown my resume into the recycle bin, now take me seriously. Works for me.
3. I'd rather get it over sooner than later - I am so glad I finally applied already. As mentioned before, no value in waiting to apply.
4. I know what I want to do and can structure the MBA effectively - this is especially important at the GSB where you have so much control over the process but I think I could have applied a year or two earlier than I did and still have been fine. Nonetheless, I doubt I would have come away with the internship I did without the experience I got by waiting to apply.
5. It's nice to leave the Pacific Northwest - as mentioned above
6. I am now able to be the "breadwinner" - which may be a nice option for my family
7. I have my choice of employers - a little less than I expected going in, but still pretty great, as mentioned above
8. Some of these classes are really interesting - the GSB has 2 years worth and more of real classes that involve real thinking and real work. It's not a bullshit degree if done properly.
9. I need more high-quality, hands on experience in analysis - have gotten some of that but more valuable perhaps has been the rounding out I'm receiving in non-finance material (painful as it is).
10. Taking a break from working is pretty great - the student schedule is super hectic but I don't miss the office environment
11. I needed a change! And I got one. A good one.