Tuesday, April 13, 2010

Applying to business school

I've been thinking about pursuing an MBA for several years and now it's time for me to take the next step. This year, I plan to fill out several business school applications for MBA programs. Considering that I have a family and young children, I want to finish my MBA as soon as possible so that I can spend all my future weekends and evenings with my family. Most executive MBA programs will eat up 2 weekends each month (so you can expect fewer blog posts once I start my MBA courses).

Here are some of the MBA programs I'm considering in the greater Philadelphia region:
  • Drexel (LeBow)
  • Penn State (Smeal)
  • Temple (Fox)
  • Villanova

I wish I could consider U Penn (Wharton), but it's simply too expensive at $156,600. My wife and I both have significant student loans (from MIT and medical school) and I can't afford to take out another student loan on top of all our other loans. Maybe I could find a sponsor who'd be willing to help me get through business school. 

Since I'm talking about money, let's look at some tuition numbers for some of these executive MBA programs (I believe these are 2009 numbers):
  • Penn State (Smeal) $93,000
  • Villanova $90,000
  • Temple (Fox) $77,500
  • Drexel (LeBow) $74,000
Given these high tuition costs, many people are asking: "What's the ROI or return on investment from B-school?" How long will it take for you to regain that tuition fee? It's time to look for some ways to generate supplemental income so that I can pay for B-school. I look forward to blogging as a business school student pursuing an MBA, working full-time, and raising a family. 


    1. Consider UMass as an online option.

    2. If I were to pursue an online MBA, I think UMass Amherst Isenberg would be at the top of my list because of its cost-effectiveness and its relationship with ACPE.

    3. Post a blog, spend time with your family,work full time and do an MBA...you've got to be kidding.

      The return on the tuition and the opportunity costs might never be recovered. I think it depends on :

      1. what are your career goals
      2. how much experience you have in a non-clinical business role
      3. how connected you are
      4. how persistent you are