It’s been years since I’ve posted on this forum. No idea what the community is like. Maybe some of the more senior guys will read this post.
I’m in upper middle management for an insurance company. I run a small group and I like my job. I’m technically an actuary, though I’m not in the actuarial department and I do work that is sometimes done by actuaries, sometimes done by non-actuaries.
Base comp is 260k, target cash bonus is 100k, long term comp is 0-200k (varies greatly by year).
I make good money. I have a wife who stays at home and a couple of young kids. I’m happy in general. I would like to move up the food chain.
Assuming I could get in to Wharton EMBA, and assuming the company paid 50% or greater, is it worth the time away from family? I mean is there going to be much financial reward from having a top MBA next to your name? Anyone have experience making good money pre-EMBA and then getting bumped significantly post-EMBA?
Sup. This is not my first hand experience, but I know people in finance in your peer compensation group (probably higher actually) who have done EMBA. Not everyone finished the degree. I don’t think you will receive an immediate compensation bump, to be honest. However, the degree might help in the long run if you want to get promoted in the company, or if you need to one day switch jobs. In fact, the people I know were mostly concerned about career stagnation or getting laid off as their company or the industry shrinks - so they wanted to prepare for the next career. I’m not sure if they have the same thoughts under this new political regime though.
The added bonus is getting exposed to “new ideas” that might make you better at your job and help your career indirectly. I cannot speak specifically about this. Maybe they just believe they have new useful knowledge and are more eager to work hard. Either way, it is probably good for them.
I don’t know how to quantify the time commitment. I know someone with two little kids who traveled every weekend for MBA. It is probably not very nice to do.
I never really asked, but presumably it is a combination of lifestyle and monetary cost, since I imagine they would have finished it if they had no constraints.