MBA at 50

[Whoknowswhatsgoingon]

Is it worth doing an MBA at 50? I live abroad, have a degree and post grad qualifications but have been doing part time / own businesses for a few years (due to children - living abroad and not speaking the local language)

Now not sure what I want to do but thinking of going back to being a full time employee - would having an MBA help - it’s a lot of money if I am already too old - I could invest the money in starting a new business instead...

Any advice from anyone on here?

I don't think you're too old, but not sure what you'd be applying for that it would be necessary?

Thanks @Dinosauraddict

I don’t know either really - suppose lockdown has got me thinking what to do going forward - I think it’s a bit of a mid life crisis

I definitely wouldn't invest that sort of money unless it would result in tangible outcomes. You'd be better off getting a job, and then if it was one where an MBA would be of benefit, seeing if they'd fund it later down the line. Otherwise it's unlikely you'd get much concrete benefit from it, would be out of pocket, and not much more employable. IMO.

Hiya - I don’t think your age is an issue at all. Very few MBAs actually make an impact in the job market. And then only really useful to quite specific people.

Honestly - a waste of money and very very very boring.

I did an MBA at a top university in my mid 30s and I was one of the older ones. It was fascinating- I learnt a lot and it definitely made my c.v more marketable.

What type of university are you considering yours at? Is it in the global league table? That makes a huge difference in value to your c.v.

I think MBAs are quite narrowly useful for people early in their career looking for jobs (often with large corporations, often US led) where certain roles expect someone with an MBA, or alternatively for people who have a technical or other specialists background and are having trouble breaking into more generalist and managerial roles (e.g. programmer who wants to ultimately become the Chief Technology Officer, or a more general business type role).

I think you'd be taking on a ton of debt or spending cash and losing more than 10% of the years you have left to retirement for a very unclear return.

I'd look into the new business idea, or depending on your area, a more specialist training course. Maybe look into volunteer opportunities in an area you're interested in (it's not all charity shop work, you could be writing business cases for funding applications, making a social media strategy etc depending on your talents, joining a board etc).

I have a client who is doing an MBA in her mid fifties. I actually proof read and edit (totally within the rules as English is her second language and she’s undertaking elsewhere).
I believe she is funded by work. But having read the whole thing - it’s bloody boring and in terms of what it includes in my opinion is not more than what I’ve done in ILM and CIM diplomas so cant help but feel it’s all a bloody con,

Thanks all. Been really helpful to read your replies

I am doing some strategic volunteering and have joined some groups I am interested in so think I will stick with that rather than the MBA. Will look up some training courses too - have one booked to start in a couple of weeks but will see what else appeals.

Hope you all have a great weekend 👍🏻🥂

I did an MBA in my late 20s. Most of the value is just proving you are the sort of person who can be offered a place on a top program. The rest is in the milk rounds as you graduate. It does little for you after that. I went to a “top 5 European B-school.” There wasn’t much substance to the course work in my opinion.

To get a return on your investment, you need:

1. A school with a good “brand”
2. Plan to work in a region where that brand is esteemed
3. Get a good job that sets you up right out of b-school through the on campus recruitment
4. Have enough career in front of you to recoup your costs

I considered doing an MBA a few years ago but the cost!!! I don't know how they get away with charging way and above the tuition fee limit unless universities register their business departments as private business schools....Still. I'm very much of the opinion that a degree is hard enough when you're into the subject, and I just don't feel enthused enough by it to warrant the cost - they also don't have the same value now as they used to. Although the network you'd have from a top business school would be great.

There are, however, plenty of MBA books available that you can learn from. I'd also recommend Harvard Business Review Recommended Reads (all on Amazon)