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Sales --> Marketing, do I need an MBA?


Posted Aug 13, 2019 13:25

I've been in medical sales since graduating, about 5 years now. Currently making about $90k per year with healthy raises and promotions. I'm on track to make $110k+ in the next two years.

I am looking at doing an MBA with the intention of switching into more marketing oriented roles (which I would honestly be more passionate about) However I am questioning the value of an MBA for this purpose. Losing out on 2 years of salary + promotions and growth would be a big hit. And I'm not necessarily sure an MBA would lead to better pay. I know that the salaries at top schools are quite high but I assume that's because many people go into finance roles, or at least that's what many of my peers have done or are doing right now.

So I am not sure if an MBA would be relevant and I am looking for advice. For reference I am a 28M American. My undergrad was solid and I don't think the GMAT would present any problems. I would be thinking about MBAs at schools like Wisconsin or Michigan (Ross) but not Harvard Wharton etc.

Please let me know if you have any thoughts.
I've been in medical sales since graduating, about 5 years now. Currently making about $90k per year with healthy raises and promotions. I'm on track to make $110k+ in the next two years.

I am looking at doing an MBA with the intention of switching into more marketing oriented roles (which I would honestly be more passionate about) However I am questioning the value of an MBA for this purpose. Losing out on 2 years of salary + promotions and growth would be a big hit. And I'm not necessarily sure an MBA would lead to better pay. I know that the salaries at top schools are quite high but I assume that's because many people go into finance roles, or at least that's what many of my peers have done or are doing right now.

So I am not sure if an MBA would be relevant and I am looking for advice. For reference I am a 28M American. My undergrad was solid and I don't think the GMAT would present any problems. I would be thinking about MBAs at schools like Wisconsin or Michigan (Ross) but not Harvard Wharton etc.

Please let me know if you have any thoughts.
quote

Posted Aug 13, 2019 18:52

Isn't an executive MBA an option?

A great MBA will be worth the opportunity cost and, anyhow, work you are enthusiastic about will add years to your life.
Isn't an executive MBA an option?

A great MBA will be worth the opportunity cost and, anyhow, work you are enthusiastic about will add years to your life.
quote

Posted Aug 14, 2019 19:55

I think that with 5 years of work experience, you're in the ballpark for a solid full-time MBA, rather than an EMBA.

It sounds like you've had some great career growth, but if you'd be happier in marketing perhaps a switch is in order.

For reference Ross MBAs in marketing make around $120k on average, but you'll have to account for the 2 years of not working when you do your ROI calculation.

I'm not sure what your current workplace situation is but one of the main benefits of an MBA is getting connected with a business school's recruiting partners. This may mean better career growth for you in the future.
I think that with 5 years of work experience, you're in the ballpark for a solid full-time MBA, rather than an EMBA.

It sounds like you've had some great career growth, but if you'd be happier in marketing perhaps a switch is in order.

For reference Ross MBAs in marketing make around $120k on average, but you'll have to account for the 2 years of not working when you do your ROI calculation.

I'm not sure what your current workplace situation is but one of the main benefits of an MBA is getting connected with a business school's recruiting partners. This may mean better career growth for you in the future.
quote

Posted Aug 19, 2019 20:03

I'm certainly more interested in an MBA over an EMBA.

I had not seen the statistics on salary for marketing grads. This is more heartening than I expected because I just assumed that the higher salaries mostly went to finance.

It will be a big decision and I will need to consider it. I really appreciate the advice though.
I'm certainly more interested in an MBA over an EMBA.

I had not seen the statistics on salary for marketing grads. This is more heartening than I expected because I just assumed that the higher salaries mostly went to finance.

It will be a big decision and I will need to consider it. I really appreciate the advice though.
quote

Posted Aug 19, 2019 21:30

Do you have any specific marketing roles in mind? Brand Management? Product Management?
Do you have any specific marketing roles in mind? Brand Management? Product Management?
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Posted Aug 21, 2019 17:02

Brand management primarily.
Brand management primarily.
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Posted Aug 21, 2019 17:29

Full time 2 years of MBA is a more suitable option than an EMBA, unless you have some arrangement with your current employer to absorb you into a Brand Mgt role upon completion of your degree.

MBA may or may not yield a better pay at the get go - a lot will depend on the school you attend. But if that's what you want to do, it will yield dividends since life will be rainbow and unicorns and you'll be happy doing what you want to do. Data do suggest that 5 year salary gain could outweigh your opportunity cost. The idea is to invest as "little" as possible. Hopefully you'll get some scholarship / FinAid from Uncle Sam.... Who knows if Burnie comes in he may write off student debt ;)
Full time 2 years of MBA is a more suitable option than an EMBA, unless you have some arrangement with your current employer to absorb you into a Brand Mgt role upon completion of your degree.

MBA may or may not yield a better pay at the get go - a lot will depend on the school you attend. But if that's what you want to do, it will yield dividends since life will be rainbow and unicorns and you'll be happy doing what you want to do. Data do suggest that 5 year salary gain could outweigh your opportunity cost. The idea is to invest as "little" as possible. Hopefully you'll get some scholarship / FinAid from Uncle Sam.... Who knows if Burnie comes in he may write off student debt ;)
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