A few things I’d think about re: MBAs from my own observations (friends who’ve done them etc):
How high are your earnings currently relative to market / what MBAs are getting? You’re more experienced than I’d say most of the people I know who got MBAs are—will you be able to find a job that increases your earnings a lot (eg. if you are already in strategy consulting this seems unlikely)
What personal sacrifices will you make in a new higher earning job (ie if you switch to IB or consulting will you be okay with the hours / be able to earn the higher salary for long enough to justify your investment)?
My take on this is an MBA is a ~200k direct investment. Plus you are potentially missing out on opportunities in your current job to progress (ie will you miss out on a promotion opportunity?). I’d say you’d probably want to expect ~350k extra earnings out of the MBA to justify opportunity cost + time cost of money. From your post it sounds like this MBA will help you in role though—so that might be an overestimate.
Additionally if you haven’t read about Financial Independance (FIRE) that might be a good thing for you to look into as it would: 1) help you meet your goal of providing financially for your family sooner 2) potentially increase your ability to give for a fixed amount of income.
A few things I’d think about re: MBAs from my own observations (friends who’ve done them etc):
How high are your earnings currently relative to market / what MBAs are getting? You’re more experienced than I’d say most of the people I know who got MBAs are—will you be able to find a job that increases your earnings a lot (eg. if you are already in strategy consulting this seems unlikely)
What personal sacrifices will you make in a new higher earning job (ie if you switch to IB or consulting will you be okay with the hours / be able to earn the higher salary for long enough to justify your investment)?
My take on this is an MBA is a ~200k direct investment. Plus you are potentially missing out on opportunities in your current job to progress (ie will you miss out on a promotion opportunity?). I’d say you’d probably want to expect ~350k extra earnings out of the MBA to justify opportunity cost + time cost of money. From your post it sounds like this MBA will help you in role though—so that might be an overestimate.
Additionally if you haven’t read about Financial Independance (FIRE) that might be a good thing for you to look into as it would: 1) help you meet your goal of providing financially for your family sooner 2) potentially increase your ability to give for a fixed amount of income.