Grad School Worth it or not?

[Joshua Manning]

Hey BP family,

I wanted to get yall's take on something. So next year I will be graduating from college with Bachelors degree in Finance. My plan after graduation is to start real estate investing as soon as possible. I plan on getting my real estate agent license now while in college so that I'll already have a job after graduating.

But here is the dilemma, my parents want me to go to grad school for my MBA after graduation. At this point I am very tired of school. I've questioned my decision to go to college since technically I don't need a degree to be a real estate gent or real estate investor at that, and now they want me to do 1 or 2 extra years of school for an MBA that I also don't need. I am just really ready to get started investing full time as soon as possible.

It doesn't make any sense to me for me to go an extra $10,000 in student debt to get an MBA that ultimately will not have any other purpose for me than being a back up plan.

So I guess my question is has anyone on here ever benefited from having an MBA as a part of their real estate investing career. And if so are the benefits worth the cost of the MBA?

[Ericka G.]

Joshua Manning I have a grad degree and have found it very helpful in my field, it was also one of the best years of my life - great break from the working world and I got to try a new part of the country that ultimately became my home BUT I wouldn't recommend an MBA for you at this time for several reasons:
1. An MBA is a degree that makes the most impact after you have several years of actual work experience. Doesn't add much/any value as an entry level employee but can help take you to the next level of management and income once you have experience.

2. Any MBA degree that only costs $10k prob isn't worth the money unless you are talking after scholarships or it is an amazing state school? For Grad school, even more than for undergrad, the school' reputation in your industry is very important. The degree means little if not from a top school (not my opinion, just want I've been told) in your area

3. Please do not take on more debt or spend years of your life on more schooling just to please your parents. I have several friends literally crippled by school debt and others' expectations and it is a long road of unhappiness and taking crappy jobs just to "pay back the loans" - it will also limit your buying power as an investor

Sooo Don't do it! You're an adult, free to choose your own path. you will be happier and more successful following your own internal guidance rather than trying to please others. Best of luck!