I get asked this question a lot, usually by people earlier in their careers who are trying to figure out their next move. My answer is frustratingly nuanced: it depends.

The Real Costs

Let's start with the obvious: an MBA is expensive. At a top program, you're looking at $150,000+ in tuition alone. Add living expenses, and you're closer to $200,000.

But tuition is only part of the cost. The bigger number is opportunity cost—two years of salary you're not earning. If you're making $100,000 a year, that's another $200,000. Your total investment is pushing $400,000.

That's a lot of money. Anyone telling you otherwise isn't being honest.

What You Actually Get

So what do you get for that $400,000? A few things:

  • Access to recruiting pipelines: Consulting and banking firms recruit almost exclusively from MBA programs. If you want to work at McKinsey or Goldman, an MBA is essentially required.
  • Career switching: An MBA provides a socially acceptable way to completely reinvent yourself professionally.
  • Network: Your classmates will become founders, executives, and investors. These relationships compound over decades.
  • Two years to think: In a world that demands constant productivity, business school gives you rare permission to step back and figure things out.

Who Should Get One

Based on my experience, an MBA makes the most sense if you fall into one of these categories:

Career switchers: If you're an engineer who wants to move into product management, or a teacher who wants to break into consulting, an MBA provides the credentials and network to make that leap.

Credential-dependent paths: Some career paths—particularly in consulting and finance—effectively require an MBA from a top school. If that's where you want to go, you probably need the degree.

People who want to build a network: If you're planning to start a company, raise money, or work in an industry where relationships matter, the network alone might be worth it.

Who Should Skip It

On the flip side, you probably shouldn't get an MBA if:

You're already on a good trajectory: If you're growing quickly at a tech company and learning a lot, an MBA might actually slow you down. Two years is a long time in a fast-moving industry.

You want to start a company right now: Business school is great for networking and learning, but it's not a substitute for actually building something. If you have a startup idea you're excited about, just go do it.

You're doing it because you don't know what else to do: This is the worst reason to get an MBA. Business school won't give you answers—it'll just delay the questions while making you $400,000 poorer.

My Personal Take

I don't regret my MBA. It opened doors, introduced me to people I never would have met, and gave me time to think about what I wanted to do. The ROI was positive.

But I also recognize I'm biased by my own experience. The truth is that for many people, the same outcomes are achievable through other paths—paths that don't require $400,000 and two years.

If you're considering an MBA, my advice is simple: be brutally honest with yourself about why you want it and what you expect to get out of it. If the reasons are clear and the path makes sense, go for it. If you're just looking for someone to give you permission to take a break and figure things out, there are cheaper ways to do that.