I currently hold a SDE position with 2 years of experience, and I've come to the realization that coding isn't my ideal career path. Consequently, I'm contemplating pursuing an MBA primarily to transition into an executive role and have better growth opportunities post-MBA. My current salary is 18 lakhs per annum, while I've observed that the average packages at ISB hover around 35 lakhs per annum. And the fees is around 40-45 lacs.
Does it seem reasonable to pursue an MBA? I understand that it might take 3-4 years to break even in terms of costs, but in relation to gaining experience and expanding my professional network, is this a step I should genuinely consider?
Executive MBA with only two years of work experience?
By the time I enroll in the course, I'd have 3+ years of experience.
Also, the MBA folks whom I've talked to suggest that it's wise to pursue an MBA as early as possible if you're certain about it and have a minimum of 2 yeo. And personally I would not want to enroll in this course in my 30s.
It is wise to pursue an MBA at that point. Not executive MBA
35 lpa is ctc. Not fixed. The minimum fixed might start at 18 atleast . Big 4s offer 25 fixed start atleast. MBBs are higher than that
That's one of my concern as well, So do you think spending 45 lacks on fees + not earning for a year is a good move given I might get around 25-30 lpa as fixed in a year or two.
I'd love to know your take.
The premise of any top tier bschool is network. Essentially it does open an avenue of getting shortlisted easily. Con here is if you dont get a higher package it is tough to get it corrected till you have experience. If you really want to change your career trajectory, go for it.
Don’t think about finding a break even as soon as you finish your degree. Think bit of long term.
Also its not necessary that you will get the package of 35L. Getting into isb with 2-3 work ex is a good start.
I totally see where you're coming from; sometimes things don't go as planned.
So, what's been on my mind is whether it's a smart move to drop 45 lakhs on fees and then have a year of not earning. I'm already from a tier 1 college, and I think in a year or two, I might get around 25-30 lpa as a fixed income. Besides the financial side, what other factors should I be weighing in?
By the way, if you don't mind me asking have you ever considered pursuing an MBA or done one yourself? I'd love to hear your take on it, just looking for a different perspective.
Tier 1 shouldn’t be so worried. Give it some more time. After 5 years will be eligible for rest of the IIM’s too.
That’s a fair ask, 2 years MBA programs are like ODIs in cricket. Soon to be dead. With the currency volatility in skill sets needed, changing business model / environment. Text book knowledge will only push you back. Get a 1 Y MBA, know the basics of business and grind at work to deliver value.
From a transition point - it will be a good move.
If you want to move to Product or Consulting - it gives a good jump start via campus placements.
Or you have to explore the lateral path - join as a Product Analyst / APM and then take it from there.
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