MBA in USA or Family Business?

Question

Recently, a lot of my close friends whose parents owned businesses have emigrated to the USA and continue to live there after their further studies. Their parents have successful medium sized businesses employing 100 over people, but they prefer to be an employee in the USA - Does it pay more for an MBA? One guy told me he could earn 1 million USD as an investment banker after graduating with an MBA. My question is, should I follow their lead, get an MBA and then pursue a full-time career, or join my dad's logistics and trucking business which employs 100 people and makes around 1 million USD in profit? I am really tempted to explore the USA, yet dont know whether it is a wise choice given my situation and I am seeking insight.

Answer 1

I always believe in the philosophy that one in hand is better than two in the bush! You are perhaps the top 1% of income earners in America (if compared one-on-one) with the American public - there are many sources for this, just google and search. Your friend who thinks it is easy to make a million dollars for an MBA is seriously misguided. Even Harvard MBA's make on average US$ 85,000 after graduation, which is considered a good salary. Refer to www.harvard.edu for further information. However, even with that figure, after taxes, one is only left with US$55,000 or approximately US$4500 a month. You do the Math - $2000 for a good size studio / 1-bedroom apartment in Manhattan and another $2000 to spend on basic items. It is unlikely one would save much - $500 perhaps! You have been given an opportunity to join your dad's business which is already minting money, and being in Dubai, your cost of living is much lower than in Manhattan. Take the opportunity with open arms and think of ways to expanding it until even the CEO's will look like miniscule's in front of you. There is a lot of scope in the logistics business in Dubai, particularly because of its rapidly growing nature, and it would be foolish to leave a growing market to a saturated economy that promises gold but delivers dust! I really do hope that you make the right choice and expand your existing business! Good Luck!

Answer 2

Do an MBA in the USA and then come back to take over the family business...!! that way u can turn the 1 million profit ur dad's company makes to a 10 million profit company...!! or maybe even more...

good luck pal...

Answer 3

An MBA is super to have. maximum jobs look especially upon an MBA, yet you're able to stick to for the suited place. (e.g. while you're utilising for a technician interest with an MBA- you're form of undershooting) it fairly is rarely too overdue! do only it. i do no longer understand in case you will get everlasting residency interior the U. S., besides the shown fact that. we are buckling down on the immigrants right here. evaluate England.

Answer 4

I'd go to America and get the MBA. Find a good job in America that takes advantage of your degree and interests. Learn what you can. Then go back to work for your family. Their business can then take advantage of your learnings from your degree and other work experiences. This will make you a more well-rounded person and significantly increase your ability to contribute to the business.

Answer 5

its really your call - as for the guy who said he can earn a million - i hope he meant over a period of time - if he meant per year, i'd like to be friends with him :-)

There are some people who CANNOT work for others - there are others who are happy to do so.

if your business is making a million USD a year, there is no MBA that can give you that right away, in my opinion..