Is getting an MBA worth it at 48 after working for 26 years in a private company? #MBA #careeradvice
Background:
I’m 48 and have 26 years of experience working my way up from receptionist to part owner in a private company. Last year, I stepped away due to some issues. I currently work as an accounting manager with a base pay of $100k, but feel like I’m at a salary plateau and want to move up to a CFO position. However, I believe I need an MBA or CPA to do so.
Concerns:
With limited working years ahead, is pursuing an MBA worth it for me at this stage of my career? I would like to transition into finance but struggled to do so during recent job searches. I am hesitant about becoming a CPA at this point in my life.
Seeking Suggestions:
Any advice on alternative positions suitable for my experience and skill set? Are there specific degrees or certifications I should consider exploring further? I am open to suggestions on how to advance my career without committing to a CPA designation.
EMBA might be a better fit.
The best part of the MBA is the network you develop.
I’m much younger than you so take this with a grain of salt. But probably not. Maybe an EMBA program makes sense. If you enrolled in an mba today you’d be 50 by the time you finished. And if you retire at 65, that’s 15 years of working. It’d probably take about 5 years to recoup the cost of the program, living expenses, and two years of a $100k salary. I don’t know your plans, but the juice probably isn’t worth the squeeze.
Any mba program that has a good chance of leasing to a CFO role will be expensive. Do you have $100k+ in cash you can pull out?
If you can hack it CPA is way better. Honestly I didn’t learn shit from my MBA unless I’m running some factory in southern China the skills mean nothing. The CPA can help you be better at anything with numbers and also make taxes a breeze. I’m a dunce for math and accounting, just terrible because I have strong ADHD but getting an Economics degree allowed me to ended into trading professionally and since the machines do most of the leg work im damn good at it after a few years of getting a mentor.
U have many left go for mba
Is 200k in debt worth it would be a better way of putting it.
No
Yes