Is An MBA Worth It In 2024?!

As another MBA application season ramps up, we consider an important question - is an MBA even worth it in 2024? It is a challenging question, but in this video, mbaMission Founder/President Jeremy Shinewald does his best to answer it.
00:00 Is an MBA worth it in 2024?
00:11 Different narratives in the world
00:58 Looking to the future
02:01 Long-term investment considerations
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[@free_soul9154]

With a $200k debt, it's a big NO for an MBA at the moment until we see that the economy has almost recovered.

[@williamsuryawan]

So, based on historical moments, MBA applications tend to surge (as such, securing top MBA classs is harder) during slow-down economic, financial crises, tech bursts, or economic uncertainty... Now, I think we are in economic uncertainty, despite AI-focused growth optimism, because there are some regional wars and high tensions in some countries in 2024.

[@DomaineStickem]

Wouldn't it make sense to simply read more books and save 10's of thousands of dollars?

[@filmawayvlad]

Sure glad I already got mine

[@mbaMission]

😁

[@Mikebuddy2229]

Nice Content!
I have a question on this topic. Please see below:
I'm currently building up my resume, and i have 8 years of experience at 5 😢different companies. I started off working at an Americorp program, which led to me having my first job at a nonprofit. Next, I transitioned over to an M&A law firm where i worked on business transactions and 2 PE firms. Would multiple jobs look bad on a resume to business schools, specifically M7? I received no promotions, and when i made the lateral move, my responsibilities increased, getting me closer to my goal, which is IB. Thank you for your time reading this.

[@mbaMission]

Even though working for 5 companies in 8 years is not ideal for top schools to see, it is also not necessarily a dealbreaker for them. This is especially true if, as you mentioned, your moves have pushed you closer to achieving your career goals. You will want to incorporate the motivations of your professional journey into your story. It is also important to demonstrate the impact you have made in each role, the leadership skills you have shown, and the transferable experiences you now have that make your post-MBA goals realistic. If you would like to discuss your specific profile in detail and how to craft a cohesive and compelling story, feel free to sign up for a free consultation: www.mbamission.com/consult/mba-admissions/

[@ahiqtidar]

Hi, I am a chemical engineer, graduated in 2017. Worked as a Core chemical engineer for two years and since 2020 I am working in Industrial Digital Transformstion capacity where i am find solutions to solve business pain points using Ai, ML and automation.
Please guide should I do an MBA or a technical masters to excel in the career. I find digital more interesting that chemical side. Your advice would be highly appreciated

[@mbaMission]

An MBA and a technical Master's degree can both help you advance your career. Based on our experience in working with engineers, many use the MBA in order to grow into more of a leadership position, where they are managing other engineers and working in a more strategic and big-picture role. I would say that you will learn more technical engineering-related skills in the Master's degree, and you will learn more leadership and strategic-thinking skills in an MBA, as well as transferable skills necessary to transition into a different type of role, or even different type of field. Therefore, it depends on what you are seeking in your future career.

[@gabemegathicc8652]

I’m going to college for a 4 year degree in business, but there’s a program where I can get my
MBA at the same time no extra cost, should I do it?

[@mbaMission]

This seems like a good opportunity, so it is certainly worth considering. However, keep in mind that many employers who hire MBAs are also interested in their transferable skills from their work experience prior to their MBA. Employers may also prefer applicants from top MBA programs, so if this program happens to be less prestigious, it may be worth working for a few years and then applying to an MBA program that is a better fit for you, in terms of helping you achieve your career goals. Additionally, keep in mind that it is very difficult to be admitted into an MBA program down the road, if you already have completed a prior MBA.

[@erfanhossain1150]

do you think MBA is worth it if you already have a CPA?

[@mbaMission]

A CPA is a position, which is basically a specific type of accountant who has taken the CPA exam and has met other requirements. If your goal is to solely focus on an accounting career then a CPA designation is sufficient, and an MBA is not necessary. However, if your goals differ than pure accounting, then an MBA will open up many more types of opportunities and will provide you with a more general management background that will enable you to target other careers. The MBA will also give you the leadership capabilities to manage and lead others, regardless of your industry.