Hi all, some advice please. I am a 25 year old working in IB for a small merchant bank. I have had the fortune of working already for brief stints in PE and consulting and am now thinking about my current role and the future. The MBA topic is one that rests firmly on my mind. I cant decide - is an MBA for those that cant hack it already - or does it really give you that something extra?I would particularly be interested in hearing from people that started thier career in MBB / IB, not that moved in at a later stage. For those that are already at a Mckinsey / UBS whatever - what will an MBA add? Of course it will be an experience where you will undoubtedly grow - but therefore so is a PhD. Is the MBA worth the money and time if i am already at the top?Thanks for your opinions

The MBA industry is one which has been created to fleece kids who think they need some kind of "business" qualification in order to "get ahead in the city". Sure you might learn a thing or two, but most of it will be pretty useless in a day to day working environment. The time would be better spent using Google to find answers to problems as and when you need. And forget the "contacts" you will make or the value of the "experience" - these considertions pretty much never amount to anything in reality. Sadly however, MBAs have become somewhat of an institution. There is an expectation, particularly amongst kids who drink too much of the HR kool-aid and get blown away by the glamour of living in a 8'x6' room for 2 years at HBS, that they "have" to do an MBA and spend many tens of thousands of pounds (not to mention the lost income and living away from their family in the meantime) in order to further their "career". Do you really think that an MBA is a willy-wonka style golden ticket to a lifetime of riches? I think not. It might help you get a foot in the door at a bank, but even then your chances are pretty much as slim as they were previously and even if you do get the high-paying job, the extra income is often offset by the burnout element, long hours, job insecurity and travel. Personally, I think the MBA industry is just feeding off of insecure mugs.

Sophie, if what you're saying is true, why then do top consulting firms (incl. MBBB) and top IB firms sponsor their employees to do an MBA? Why do they do a significant amount of their recruiting at Business Schools? I agree with you that it's difficult to determine who's more employable: the person that spends 2 years climbing the corporate ladder or the person that spends those two years doing an MBA. The fact is that these firms are using the Business Schools to do their filtering for them - it's tough to get into Business School, therefore they're guaranteed a pool of top talent if they recruit at Business Schools.I, for one, would be very interested to know what the perspective is of those in hiring positions at these firms, i.e. more than 5 years experience - is an MBA needed to get into these firms and is an MBA needed to succeed at these firms?I agree that it may not necessarily

Tarzan, if you are 'already at the top' why are you even asking this question??

I have come across two types. Those that envy MBAs and try to play it down and those that appreciate it and agree that anyone that graduates from a top MBA has something to bring.It can be argued that not all succeed in what they do, and that is a rule of life, but in terms of learning, networking and developing certain skills an MBA from a top school is a great place to gain these things.The issue of cost or ROI is left for the individual to decide. "Not all fingers are equal".

this is certainly a topic which causes much debate in consulting and other sectors. Human beings tend to tell you that their way is best. Years ago when pulling pints during a summer holiday from University, I was told by a guy at the bar (drinking bar, not law bar) that education was pointless and I should not bother. His evidence was that he had read an article about a guy who left school at 15 but still went on to make millions as a CEO of his own company. "why do you think that made the newspaper" I asked "possiblybecause he is the exception rather than the rule?"It seems to me that many of those without an MBA tell me that they are pointless ("look what achieved without one" etc). People always pour scorn on what they do not have. I speak 2 foregin languages but am repeatedly told (funnily enough by people who only speak English) that there is no point in speaking foreign languages because English is the business language of the world. Strangely, I never get that comment from people who speak foreign languages themselves. Equally, those who have an MBA sometimes mock those who took a more "hands on" approach to learning. This is equally wrong There is no right or wrong way. Realistically an MBA from a top instituion is going to help you. Whether it will help you more than spending the 1 or 2 years in a PE or consulting firm is a questionable. Do people only do the MBA to further their career? I have always felt that if this is your only motivation, you should not do one. You should stay in industry and try to make your way through hard work in a business environment. Some thrive in the academic enviornment. Some thrive in the business environment. It is horses for courses. If your career is stalling and you do not think you are getting anywhere, an MBA could help you be taken more seriously. Equally, if you have made a fortune and can afford to take the time off, an MBA can be a great way to learn more about yourself.If you are in industry (ie FMCG or whatever) and want to get into consulting at a decent level, MBA is probably your only option. If you are already with the company or in the sector where you want to stay, the MBA is probably more about intellectual curiosity than career development.

ROI is not generally a good measure of an MBA. We are not businesses preparing ourselves for sale and maximising our £ value.As an individual I want to maximise more than just money. I want to learn new things and get new perspectives. Furthermore whilst money is important I am going to die with money left over so the marginal cost of an MBA is arguably zero.

I agree with your point that both paths can lead to success, but in your earlier analogy you’re not comparing like with like. Fairly obviously most of the people with MBAs think that they are worthwhile or they wouldn’t have shelled out all that money to spend 2 years learning; so therefore it follows that they think that an MBA is worthwhile, and those that could have studied for one but chose not to think that working for 2 more years has more worth.