Is it worth of doing MBA after BE(CSE)?

Is it worth doing MBA ? Online or executive or full time ?

• I am 32, have done Bachelors in Engineering and 10 years work Experience in IT industry working as Sr. Architect making US$ 115,000/year. I am thinking about doing an MBA (GMAT 700 expired. Need to retake). Is it worth doing MBA at executive, weekend or Online MBA program or should I go for a full time MBA at one of the premier schools. Schools I am looking at have a tag of US$120K for the course. Not so sure of the assistance program... how much would they cover? Is it worth the cost? Will it help me move to a different line of career e.g. Investment banking? Thanks a lot for your time. Have a pleasant day.

• Answer:

  Getting an MBA from a good quality university will allow you to switch careers. It's easiest to make this transition if you attend a full time MBA program - not online, not executive. As part of your full time program, you'll do an internship - in investment banking if you want that - and that, plus the good name MBA, will allow you to make the career switch. It's possible to do this career switch if you do a part-time, in person MBA from a quality program, but it's harder, because you won't have time for the internship. Instead, you'll need to find ways to get that related experience as part of class projects done for actual IB firms, etc. But it is possible. Just a bit harder to coordinate than if you'd gone full time. Are you in NY? IB firms in NY do hire out of NYU and Fordham's part-time MBA programs. NYU would be my preference, as it's the strongest part time MBA in the region, and it ranks quite well amongst all MBAs as well. A lot of employers don't like the executive MBAs as much as the "traditional" MBAs. Employers certainly don't actively recruit out of them in the same way. In addition, many employers aren't enthused about online MBAs. IB is what I consider an MBA-reputation-sensitive field, so you want to go to the best quality, best ranked, full time, traditional MBA program that you can. If that isn't possible, go to a very good quality part-time traditional MBA program. If you get into an elite MBA program, like Columbia, Harvard, etc., then the price tag can be worth it, and going full time, even with the opportunity costs of missed wages and etc., can be worth it. Some companies only recruit for certain positions out of such schools, and if you go elsewhere, you won't be considered. If you get into lower level programs, then I'd prefer you went part-time and got tuition assistance from your current employer. Most people fund their full time MBA studies via loans, although there are some assistantships and etc. at some schools. But in IB, if you go to an elite MBA, you may well either make enough on graduation to not be too concerned about the loan payments, or else even find that some employers will forgive your loans if you commit work for them for a few years (they'll pay your loans off for you.)