Weighing the Costs of another Degree

Summary: Find out in this article whether or not a second MBA is worth the investment.

Question: I have an M.B.A. degree from a third-tier business school and am contemplating acquiring a second M.B.A. from a top-five program. Does it make sense to have two of the same degrees?

Answer: If the reason for the second degree is to increase your marketability, it’s unlikely that the potential gain would be worth the price of admission. In the long run, your experience is more important than the college at which you earned your degree. Elite schools may offer an advantage early in a student’s career when the goal is to break into a first job. But later in life, the brand name means much less.

A cheaper way to enjoy some of the perks of a top school is to selectively take a course or two instead of duplicating the entire program. Talk to other students to find a dynamic class, taught by a stellar professor with a highly participatory style. An evening or weekend class would probably include many students from the business community with whom you could network. List this coursework from the big-name school when you update your resume.

See Why a Second Major May Be Worth the Effort for more information.