<p>An unusual choice, but let me explain.</p>
<p>I come from an entrepreneurial family, have worked at many startups, and love business. However, I'm also nerdy and love to read, write, and research. I've never run a company on my own, though, so I'm not confident in my ability to be an entrepreneur by myself. </p>
<p>Perhaps I wasn't supposed to, but I applied both to MBA programs and PhDs in business. I got into two top schools (think H/S/W/Kellogg/etc.) one in each. (No, I'm not a troll, this is all true. I applied to a bunch of schools, but only got into one of each kind.) </p>
<p>I know that these two types of degrees lead to very different careers and so forth -- I've really done a lot of reading on this. What I have trouble with is just deciding which part of me to encourage with higher education. I mean, you can start a business without an MBA, but you can't teach without a PhD. </p>
- MBA costs $150k. PhD would be free with stipend.
- MBA leads to very high paying jobs. PhD leads to academia, not as high paying. Although perhaps I could do consulting afterwards.
- Physical location for both places, while quite different, are both acceptable.
- MBA is 2 years. PhD is 3/4 years (this is a special program, I don't want to explain or it will be too identifiable)
- I like the life of the mind, but I also like to be practical and accomplish things.
- I like to make my own schedule and hate suits and ties and corporate bs.
- I like travel, languages, design, and other areas that don't really have to do with either. Are they both bad choices? Is my indecision a sign that I should turn down both, wander around for a while, and look for something else?
- I'm really not 100% sure about either of them, to be honest. But I know that you're never 100% sure, and I'm afraid of being at loose ends while I figure it out.</p>