<p>I graduated in 1992 from my elite MBA program into a nasty recession. Prior to enrolling, I had a great paying job in Japan and I actually had to take a pay cut to get a job here in the US after graduation. I moved up fast in a corporate setting and worked for some elite companies. But, I only started making real money when I started my own financial consulting practice.</p>
<p>At the end of the day, you will always make less money and have far less job security working for someone else. I never felt more vulnerable when I was making solid six figures in a corporate consulting setting. At that salary level, it was never, “What have you done for me lately?” It was more like, “What have you done for me in the last 10 minutes?” I was constantly reminded that I was replaceable by someone younger and cheaper fresh out of an MBA program if I stumbled even for a moment.</p>
<p>Now, I make more and work less. There is stress, and sometimes big stress. But it is all self-generated or caused by my own mistakes as opposed to externally imposed on me.</p>
<p>Was the MBA worth it? As a life experience and a networking tool definitely. Much of the knowledge that I gleaned in the program put me on track for my current career as well (although it was outdated almost immediately upon graduation). Every job that I have had including my current business somehow was connected to the school that I graduated from. Overall, yes it was worth it.</p>