It’s easy to sort of get caught up and immune to how much money all of this MBA stuff costs. I haven’t even started school yet but so far I’ve had to pay:
1) ~$200 worth of GMAT study books, MBA admissions books, etc.
2) $250 to take the GMAT
3) $250 X 3 = $750 for application fees (3 schools)
4) ~$600 for plane tickets, taxi, etc. for my 2 out of town interviews
I used to think $250 for an application fee, etc…was expensive but after awhile, I guess you just get immune to this stuff.Will it be worth it? Of course I think it will. But not in the way that most people would think…I don’t necessarily think that my salary will increase so much that it will end up paying for itself. My reasons for going back to school for an MBA really are not to find a new line of work nor is it even to make more money. I’m not filthy rich but I make enough money now and I’m fairly happy in the work that I do (although some days I do get some second thoughts).
My biggest reason for getting an MBA at this stage of my career is to open up options. I would like to open up more doors at larger companies, different industries, etc. so that if I do choose to make a slight change, I can have the opportunity to do so. Having options is really what I am paying for and I think it’s worth it.
(posted by RVD)Bookmark this article!
2 responses so far ↓
1 Chairman P // Mar 11, 2008 at 9:11 pm
At least for the self-sponsored WEMBA student, the thing that happens is that you start thinking about those $25K checks per quarter you start writing, and then the smaller costs seem so trivial compared to all the dough you are shelling out. And you start redefining what constitutes a “smaller cost” as well. You do get immune to it all after a while.
One good thing: you’ll be a platinum Starwood hotel member by Term 6. ALL of the hotel staff will know you by name, and what amenities you prefer by the end of the program as well.
2 RVD // Mar 11, 2008 at 9:25 pm
Yeah, I’m 100% self sponsored. Most of my friends say that they get like $5k/year for tuition from their companies at the very least (no special approvals needed, etc.). Of course they all turn around and say “that’s nothing”…but hey hey hey…that’s $5k more than I get. Heck, I’m actually pretty happy that I don’t have to take a pay cut for missing all these days from work for the next 2 years!
I was going to approach the board to see if I can get some assistance but just decided against it. I have the full support of my business partner (CEO) but the board may not be so supportive so I’d rather not risk it.
Anyway, $25k per quarter sounds niiice…now I just gotta make sure that I stay out of that bottom 10%.
Leave a Comment