Community› The Bump Message Boards› Working Moms
Working Moms
New Discussion

Stick out career/finish MBA program?

Tiff B.Tiff B. member
in Working Moms
I'm about 2 1/2 months pregnant. I'm a little over half way done with an MBA program (that my company is NOT paying for), and I've been with my company for 6 years. I recently found out that my office only pays 60% of salary for up to six weeks maternity leave, and whatever vacation time you haven't used is included in that six weeks to be used first before you go to 60% pay. I work for a large global company, and because revenues are down my income is down this year by about 30%. I'm a little panicked now that I'm pregnant! I always thought I'd finish up the MBA program and continue to work after having a baby, but I'm suddenly completely re-evaluating everything because the income I make is hardly enough to cover day care each month after basic expenses (mortgage, phone bill, groceries, insurance.) We don't have any family that lives nearby to help with babysitting. If the economy weren't so bad it wouldn't be as much of an issue, and especially if my company were paying for the courses I wouldn't be as strapped for cash. I can't decide if it's better to work full time and barely be able to pay for a baby or to not work at all and just scrimp and not spend anything for awhile after I have the baby. Suggestions?
Report Reply to Post

Re: Stick out career/finish MBA program?

  • dpdwdpdw member
    Does your MBA program allow you to take a break & finish up your courses when the timing is better or must you complete the courses within a set timeframe?  Depending on that I might put the MBA on hold for a while until my job was more secure.
    Report Reply
  • Loading the player...
  • momofoliviamomofolivia

    hard questions.....  I would stay at work until the baby is born to cover your insurance.  Babies can cost a lot of money, but they don't have to.  You can do consignment shops, CL for the material things.  There are ways to cut costs of the necessary items - you could BF, (but if you are working, then you have to buy a pump), you could cloth diaper instead of disposables.

    Slash your luxury items, look into in-home daycare, which is cheaper than center daycares.

    If you are really worried about the money, I would hold off on the MBA unless it is going to help you get a better paying job upon graduation.  With the economy, that probably isn't likely (I have an MBA and no one seems to care right now in the job search world).

    Report Reply
  • duchess0727duchess0727
    If your income is hardly enough to cover daycare after basic expenses (assuming your expenses are relatively reasonable), an MBA may help you get a higher paying job.  I don't like the idea of living off of loans but if it will help you long term get a higher paying job, maybe consider taking out a loan to pay for your MBA and living costs while you finish it up full time.  If you are halfway done already, this should just be another year, right?  Then hopefully you can find a position (maybe through your MBA program) that pays better and will put you in a more financially secure position. 
    Report Reply
  • tnpjuly04tnpjuly04 member

    This is a tough one.  I have an MBA, and like a pp said, it **should** be paying off right now, but it isn't.  My MBA student loans ARE a mortgage.  I am still waiting for the ROI. 

    I'm assuming that you are going part-time to the MBA program since you work.  If you are going part-time, I think that I would probably continue working and taking classes and once the baby was born, stop working and take a class or two at night - finish the MBA, spend time with the new baby, budget, budget, budget, and then as the economy recovers, I would be prepared to take on a new position somewhere else. 

     The economy is not going to be poor forever ... you just need to think long-term in regards to the time/investment that the MBA will do for you in the long run.

    Good luck.

    Report Reply
  • Tiff B.Tiff B. member
    Thank you to all of you for your kind advice and insight. I appreciate it :)
    Report Reply
This discussion has been closed.
Choose Another Board
Search Boards
"
"