November 23, 2010 6:30 AM Subscribe
My company will no longer pay for the majority of my MBA, does it still make sense to go?
Last year I decided to apply to grad school in order to get an MBA.
My company was going to pay about 75% of it and it made perfect sense as I am extremely interested in the subject matter and really enjoy the classes I have taken so far.
I started the first semester of classes at Baruch (a local MBA program) but after talking to my boss he encouraged me to apply to NYU's part time program which is ranked (by most polls) as the best one in the country. I got into the program and will start next semester, I am extremely excited about the possibilities of going to NYU and the doors it will open however the situation at my job now got complicated.
My company went through a re-organization period where some people were fired while others got shuffled around. I belong to the latter group and while many of my responsibilities remain the same I now report to a new manager who does not know me and so far does not seem to be as open minded about activities outside of work. Just last week he balked at re-approving a work-from-home authorization that I have had for the last three years. As it stands now I estimate that he'll approve 50% of my courses (the ones that correlate exactly to my job).
Each course at NYU costs about $5,000 dollars.....and I am not sure whether I can handle (or would want) coming out with so much debt. I could always go finish up my degree at Baruch, but after being there for a semester I am sure that I will not have the networking/advancement opportunities that NYU provides.
In addition to this, if I were to stay at Baruch it will take almost twice as long to finish up the degree, but I will be able to afford it without getting into no debt whatsoever.
Does it make sense to get into so much debt for a top-ranked but still part-time degree?
I should also mention that I graduated from NYU's undergraduate philosophy program and I can testify that the name brand has already helped immensely while going out for jobs and getting interviews.