Is economics a good undergrad major before I pursue an MBA?
I was an aspiring business major, but I realized my ultimate goals are now to get a bachelor's in music of some sort (I play the piano at an advanced level and am well versed in music theory) and an MBA. I hope to find work at a company that will pay for me to get this MBA. I'll probably move away for undergrad school, but I live pretty close to UPenn so if I go to grad school, I want to go there. That means a double major is best for me, and I figured out I don't have to do music and business, I can do music and some other (social) science. Is economics a good major for this, or is something else better? I just don't want to do a physical science or engineering. I'm aware that just pursuing business administration in undergrad is ok, but I would like to know my best options.
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1 answer
Hi @kat.in.the.shat,
Thanks for your question.
Yes. Getting an economics degree is one of the better choices for undergraduate work prior to applying for an MBA. The obvious choice is a business degree but there are many MBA admits who have majored in engineering, math, humanities, and social sciences.
If you are planning on applying to Top 10 MBA programs like Wharton, Harvard, Stanford, UChicago, Dartmouth, Columbia, UC Berkeley, Duke, NWestern, Yale, and MIT, then keep in mind that very few schools will admit students without work experience. At Harvard, the average age of an MBA admit is 27 with an average of 4.5 years of work experience.
Also, keep in mind that companies do not pay for your MBA unless you are a C-Level executive who is a rainmaker for your firm. Most of these types are in their late 30s and 40s and attend an Executive MBA program. There are plenty of companies that reimburse employees for educational costs but usually, the cap on that is $5000 to $10000 per year (companies like Apple, Deloitte, Intel, Raytheon, BankofAmerica, WellsFargo, Chevron, Ford, P&G, and ATT)
Right now the cost of a 2-year MBA at UChicago is $230,000 full-time on campus. I'm pointing this out now so you will not be surprised later. You can not expect any employer to dole out $230,000 for you to get your MBA.
Good luck picking majors and schools to apply to.
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