Advice on MBA
I graduated in 2022 with a Bachelor’s degree from one of the old-IITs. I want to know the prospects that doing an MBA from IIM A, B, or C will open up for someone in my position, both financially and non financially. My current position is SDE-1. If I should do an MBA, how many years of work experience should I have before MBA?
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If you are getting 24 LPA now, an ideal time to start MBA would be 2024. A 2 year workex is ideal. Any later than that would give you a post-MBA CTC at a less than impressive hike from your pre-MBA CTC. At IIM ABC, you can expect to get 30-40 LPA on average, but for top fraggers in placements, it does go higher. Some specific roles that open up prestigious prospects are:
- Consulting MBB (McKinsey, Bain and BCG), world's top consulting firms hire dozens of MBA graduates among them 3, each year from IIM ABC. Their CTC is upwards of 35-40 LPA, with an expenses paid by client lifestyle. 60-80 hr work week & traveling. Most of paycheck goes into savings.
- Front End Investment Banking These roles are the bigger fish when it comes to the paycheck. Top banks recruit from ABC with base pay north of 30 LPA. However, the yearly bonus is the more significant part of the employees takeaway, ranging from 50% to 400% of base pay. Life is hectic, with 80-100 hr/week, great exit options into PE, VC, Consulting etc.
Thanks for your reply. It will give me additional year to get more clarity to understand my goals and what I really want to do in life.
But monetarily, if I stay in tech roles I am in, in 4 years I might be looking at 50-60 LPA, so it doesn’t make much sense to pursue an MBA, except if not doing one might hinder or slow down my career trajectory
Can you share current CTC?
I think devs get paid quite well - there are definitely roles after IIM that can pay better - VC, PE, Quant roles etc.
But they are super rigorous. I feel if you’re happy being a dev for the longer run, you should at least stick around for now. And if you feel business roles are your calling, you can explore the B school path
24 LPA excluding ESOPS