[DDylan]

I have been thinking about if I should pursue MBA for days. I listed out advantages and concerns of pursuing MBA and the other path. Any advice is very appreciated.

background

1. Got my undergraduate and master’s in accounting from state school with high GPA ~3.9
2. CPA, CFA L1. plan to finish CFA L2 and L3
3. No name small firm audit 3 years, fund accounting (large PE) 2 years
4. now large SaaS company as sr. analyst 1 year (contract/deal modeling, FP&A, reporting decks)
5. Army reserve. Plan to continue this path as part time job (sergeant or officer school if possible)

Path 1 Going to MBA and then pursuing Consulting/IB job

Advantage
1. More pay, better potential for future
2. School big name on belt

Concerns
1. GMAT is stressing my out. I may not get 720+
2. Even if I get into T15, it’s still very uncertain whether I could land a job on consulting or IB
3. Consulting or IB might be impacted by AI or automation, making it more competitive
4. Cost. The two year tuition (100K) + missed salary (200K) + living (60K) = 360K
5. Age. I am already 30. I will be 31 by matriculation and 33 by graduation. Working long hours (80h/week) will be challenging
6. Communication. English is not my first tongue. Though I’ve stayed in the states for 9 years, I still a minor accent.

Path 2 Going to online computer science/data master

Advantage
1. Keep my current job, and make some money
2. computer science is the future as all industries are trying automate everything
3. having a STEM degree is good for my army career

Concerns
1. Getting used to coding is challenging. Steep learning curve.
2. Online degree is not recognizable as degree from brick and mortar school
3. kinda hard to find a position combining coding and finance

[jeff]

Looking at this analytically – how much more pay per year? $20k? $40k? Is that a maybe or a rock-solid “definitely”?

If it's a definite – and it's a $40k increase (which seems very aggressive), then it will take you 9 years to break even on the investment, ignoring interest on the student loan (which I'm assuming you'll take).

That's a lot of money for a (best case scenario) 9-year payback period.

[thunderlips]

Not recommended with a masters already in accounting, heck better off going for a phd. I like Jeff breaking it down using numbers, like where your heads at

[DDylan]

Hi @Jeff and @THUNDERLIPS,

Thanks for replying. I am currently making around 100K at a 2nd tier city (dallas/houston/austin) but I feel the potential is very limited.

However, if I am lucky enought to ge into top 15 MBA, it's very likely to land a job with $140K base with great potential and exit opportunity.

The GI Bill will cover most of the tuition.

[Accounting_is_Taxing]

What is your goal in life? Path 2 is very different from Path 1. If you really want to get into IB, I think you already know what it takes.

[DDylan]

@ACCOUNTING_IS_TAXING

Thanks for replying. My goal of life….thats a good questions. Sometimes I even contemplate what's the meaning of life. I donot know my goal of life. But for now, I want to make more money.

[aaronmo]

If you do go for the MBA, I'd get it in something hot and useful…analytics…something with IT. Mostly I'd say it's probably not worth it.

[Jimmy Dugan]

If you can get into a T15 then go for it, but only if you want to go into IB or MBB consulting. That is the main pathway to those jobs and you don't need to worry about payback if you land one of those positions (still iffy even with a name brand MBA). You'd be considered an “older” candidate at a T15 residential program, but the window is still open if you can get the ball rolling pretty soon. But, if you aren't absolutely sold that you want to do consulting or IB, you don't need an MBA. It actually sounds like you are undecided since you also mention computer science.

[DDylan]

@Jimmy Dugan

Yeah, age is def one of my concerns, but I guess my military could offset a little, although I am in reserve who do not do too much high speed stuff.

Yes, I am undecided thats why I post this, as it's a major career decision for the next 10 years or more.

If I am lucky enough to get into T15, MBB or IB is my sole goal, especially MBB as I am probably too old as an associate in IB.

[Tan George]

Pharmaceutical companies and really anything healthcare related pay really well and you would be able to land a position where you would be utilizing both your accounting/finance background as well as coding.

[Anthony]

Not on your list: work life balance.

Do you have kids or a significant other? Do you have hobbies outside of work or enjoy time off? That is something you need to consider also if you do get a gig working 80 hours a week.

[Author]

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