Is it Worth it? What is it actually worth?

So in my Pursuit of an MBA, I guess I haven't really researched what it's worth. So today I am gonna focus on just that. What is it really worth?

First start with PAY,
Let's say I do get the 120K salary, is it worth it to me?

Using this amazing spread sheet by Ryguy904 http://gmatclub.com/forum/103-t64239
it is estimated that it will take me 7 years post graduation or 2018 just to break even. That's with the great salary, great bonus, huge benefits package.

I was talking with my friend this past weekend, and with his near 6 figure salary now, it will take him 12-15 years to break even. He may even make less after he graduates than he would without an MBA. I'm sure it makes sense if you were making 28K right now and got a full ride, but for people who make decent salaries, how much do we really gain? (BTW I do know someone who makes 28k full time with a college degree.)

So as always some people are gonna benefit more than others.


But what if I don't get the 120K, reading on the Business Week forums I came across two links
http://media.www.harbus.org/media/storage/paper343/news/2007/09/04/Features/Alumni.Perspective-2946965.shtml

http://www.businessweek.com/magazine/content/08_33/b4096080728337.htm

Both HBS alums, Both serving at warning that the well advertise salaries are not what most people are gonna get and that there are 2 realities. The first link is an article, the part that I find interesting is where he states that there are "HBS graduates" and "Harvard MBA's." Know the difference. The second of which is a book, which I plan to start reading as soon as I'm done with finals. Although I do take most comments with a grain of salt. I do find both very interesting.





Third, is if I do get everything I want, the MBA, the 120K, the bonus package, what kind of life will I leave. If I was to work consulting hours now, am I really that far from the 120K concidering I have OT pay and I have a life now. I have relatives who are consultants (one at McKinsey). I have the impression that the lifestyle is pretty tough:
First, I had to schedule an appointment with her just to talk about MBA.
Second, she left the industry, she said straight out, "you go and do it, do well at it, and leave. Consulting is a way up, not a career."

And So It Begins...

Whoo whoo, my first post... I've decided that I should finally get around to posting my first post. I started this blog for a few reasons:

one is to have something to reflect on in the future. If I was to reapply this I hope that I learn something.

two is to pass on some of the information that I learned to everyone else in the blog sphere. I've read like 20-30 of these, and I'm sure everyone out there does the same. I want to include some websites some info, whatever that can help others.

three is I'm all MBA'ed out, I have so many things to think about that I hope putting it all down on paper (you know what I mean) would clear my head out.




A background about myself
Low GPA Engineering at a Top Public School (I'm sure it's not hard to guess which one)
Working on Online MS Engineering at Ala Mater

760/99th GMAT (50Q/95th, 44V/97th, 4.0 AWA)
Taken Once - 5/2007

3 Years Top Aerospace Company


My ever Changing list of schools right now stands at:
UCLA Anderson - R1
Columbia Early Decision
Northwestern Kellogg - R1
Chicago - R2
Wharton - R2
Hass - R2

Schools that keep popping up are
Michigan
Yale
Harvard
Stanford
NYU

This list is always changing. I think it is good for me to write it all down sometimes because in my mind I am always going I can add 2 more and then 2 more and then 2 more. Sometimes I'm just like AHHH!! need a break!

As of right now, I've only opened an application for UCLA, would probably start opening my applications for Kellogg and Columbia next.




Keep you all posted....

Sites that I find really helpful are:
http://blog.clearadmit.com/ - for up-to-date information, great layout of info

http://gmatclub.com/forum/103 - the information here is also up-to-date, however there are just a lot of threads which sometimes slows you down. I like Gmat club because it seems that the people are allow more supportive. The atmos is just better than say beatthegmats which i do like for other reasons.

http://www.businessweek.com/bschools/rankings/ I have he print copy which is a little nicer. But this works. With all rankings, make sure you agree with it. Everyone ranks differently. http://en.wikipedia.org/wiki/List_of_United_States_business_school_rankings
But I trust Business week the most.



Others for writing tips
http://www.accepted.com/mba/AppWriting.aspx
http://www.mbagameplan.com/