MBA over 30 – Is it worth it? Can you be too old for an MBA? What you need to know: Pros and Cons

In this video I want to answer the question: Is 30 too late to start an MBA?

00:00 - Intro
06:27 - What AdComs look for
07:46 - Things to consider
10:29 - Why you should not get an MBA
11:15 - Why you should get an MBA
12:01 - Final advice

No Business School quotes age limits for their MBA programs. They rather set requirements for the number of years of full-time, relevant work experience.
Check out Harvard Business School: The average age of incoming students at Harvard is generally around 27, but only more than 10% have 7 or more years of experience. The leading business schools generally prefer young candidates. Ideally you are in your mid to late 20’s, when you apply for those programs.

Business schools try to keep the demographic at MBA programs homogeneous: People will be in a certain age range with a certain amount of work experience (normally between 2-7 years).

Someone over 30 typically looks at senior positions. It will be difficult for the business school to close the gap between your expectations of a mid-senior position and what they are able to offer. However, landing a job at top consulting firms is definitely possible, but bear in mind that as an older candidate you will be perceived as less enthusiastic about the 80-100 hour work week.

What Admissions Committees look for:
Know how an MBA will help you in achieving your goals post-MBA. Hence, make sure to articulate these clearly in your essays and interviews
Show what you bring to the program: Adaptability, learning and leadership while working towards a common goal
Show that you are committed and motivated, and that you have much to contribute to a “younger” class

Things to consider:
Does it make sense for you to take two years off to study, all while paying for enrollment, especially if you already have a family?
Career-switchers moving to new fields in particular, can even face a pay cut if they begin in positions that are totally foreign to them, and it may take several years to recover.
If you’re a sponsored student and plan to return to accept a promotion, then an MBA may be an extremely attractive proposition.
Consider the following costs:
Tuition, opportunity cost, relocation cost and living expenses.

Why you should not get an MBA when you're over 30:
The MBA often has a negative ROI for older applicants. With a 2-year MBA you are spending USD 250k and you are not getting paid for 2 years. With a USD 125k annual salary, that's a half a million of tuition and foregone salary.
The salary jump will be lesser than it would be for the 20-something graduate. As I said, this is another crucial factor for MBA rankings.

Why you should get an MBA when you're over 30:
If you are a sponsored student, and you have a return offer, then an MBA can be a way for you to relax and you can enjoy the MBA experience. And since you already have a good job and salary waiting for you after the MBA, it doesn't pose a problem for the school’s numbers that year. And by the school's numbers, I mean the employment report and statistics.

Also, this is a bit generic and it has been mentioned many times, but a full-blown immersive MBA experience potentially provides new career opportunities (including a change of geography, industry, role or all 3), a chance to be part of an elite alumni network.

Here is my advice:
Set up calls with the Admissions Team of the school of your choice and pitch your profile. They will be honest enough to talk about whether in terms of age, you might want to look into other degrees, such as an Executive MBA or possibly a 1-year MBA
In your essays, your story-line needs to be very strong. Help the Admissions Committee understand how your experience is a sign of wisdom and how you can teach the young kids in the class a lesson of your own
Articulate your dedication to your studies through your essays and interview
Do your research as to which schools are most receptive and which ones are least receptive and choose accordingly. And I do advice you to take a look at European programs, in which candidates are a little bit older than in the US

No matter your age, an MBA is a fantastic experience that serves as a toolkit to transition or advance to leadership roles in your career. Investing in an MBA degree returns an attractive yield over your working lifetime.

Also, check out European programs if you feel too old for an MBA. In this video I am talking about the difference between studying in Europe and the US: https://www.youtube.com/watch?v=q3LgG37-KdI

Question of the day: What is your take on doing an MBA, when over 30? Do you think it's too late? Let me know in the comment section below.

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Music used:
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