Your boss has an MBA from a top business school. So does your boss’s boss. As does, needless to say, the CEO of your company.
You want to move up the ladder quickly. Or maybe you’d like to make a career switch. For these or other good reasons, you’ve decided you want to get an MBA at a top business school. But you may be wondering when to get and MBA. Are you too old? Or too young? Do you have too little work experience or too much?
The Average Age To Get An MBA
These days, more business schools avoid sharing the average age of their classes, giving the impression that all ages are welcome. The truth is that most do have an average age in mind. So, what is that magic number?
The average age of admitted MBA students at the top US business schools is 27–28 years old. That puts the average MBA graduate age at 29–30. That has held fairly steady for several years. The Harvard MBA average age is on the younger end, at 27, with an average of 4.9 years of work experience. European MBA programs tend to go for more experienced students, with an average age of 29–30 and six or more years in the workforce.
Does this mean that if you’re 25 or 32 you should consider yourself out of the running? The answer is a resounding no! An average is precisely that — just an average of a class comprising different ages. Take Columbia Business School for example; while the average age for the class entering in 2023 was 28, that same class included students from 22 to 40 years old!
Why is the average age for an MBA student under 30?
One of the reasons that most MBA students are under 30 is that fewer people 30 and over apply. Why are older candidates reticent to apply to business school? The opportunity cost of studying full time is a factor; they are thinking about how many years they will be out of the workforce without a salary during that period. If you assume that the salary of a 32-year-old is substantially higher than that of a 25-year-old, it’s easy to understand why taking two years off from the work world and financing an MBA at a later age may cause some potential candidates to pause.
Recruiters Want Young MBA Graduates
Another reason why the average age hovers around 28 is that business schools are extremely focused on serving businesses and ensuring their graduates are recruited by the top firms and companies. For candidates thinking about switching to strategy consulting, investment banking or private equity, the reality is that the likes of McKinsey and Goldman Sachs recruit associates and analysts primarily in their mid-to late 20s. That helps firms keep their staffing costs down and supplies them with a stream of young employees with the freedom and energy to work long hours and travel extensively.
How Many Years of Work Experience is Best?
Along with age naturally comes the question of work experience. When starting your MBA, how many years of work experience is optimum? If you’ve only been in the work force one to two years, will you have enough experience to compete for admission to a top MBA program knowing that you’re up against more experienced candidates? On the other side of the spectrum, if you’ve been in the work force for eight years or even more, will the admissions committee consider that extra experience a strength or a liability?
Business school admissions committees aim to hit the sweet spot, with most of their candidates in the middle of that spectrum. The sweet spot is five years of work experience among MBA students at top US schools like Harvard Business School.
Why is five years the magic number? Because with five years of work experience, business schools consider that you have enough experience to actively contribute and enrich classroom exchanges and experiential learning activities, but not so much experience that you have little to learn from the program and your fellow students.
The good news is that, like age, there is a wide range in the number of years of experience among people accepted to the top business schools.
Can You Still Get An MBA After Age 30?
Doing an MBA program, whether it’s a one- or two-year program, is a significant commitment both financially and personally. Can you — and should you — get an MBA if you’re over 30?
An MBA is still one of the best investments you can make in your career, for the short and the long term, regardless of age and years of experience. That is why every year people 30 and older apply and get admitted to the top schools in the US and Europe.
If you are 30+, you will need to consider whether getting an MBA is viable from a financial and personal perspective. You may have a family or children to consider. And beyond the price tag (if you’re footing the bill yourself), you also have to calculate the income forgone over two years, which is more than for someone in their 20s.
There are different reasons people apply to business school at 30+. Some candidates have managed teams but want to develop their knowledge in Finance and run a business unit. Some have successfully moved up in their organizations over the last eight-plus years, and their company is now willing to finance their MBA. There are military professionals transitioning to business who make great older candidates for an MBA.
And while some 30-year-olds wonder if they have the energy to go back to school, they quickly find that it is no more difficult for them than their younger classmates. And most people find that they thrive on the stimulation of being in a classroom again.
How Old Is Too Old?
You’re in your 30s, your 40s, or above and you’re thinking about doing an MBA at a top business school, but you wonder if you’re too old. And how old is too old? Really, there is no age limit. While many people in their 30s opt for a part-time program or an executive MBA (EMBA) in their late 30s or early 40s, there are always exceptions. (View our related blog, MBA Types: Which Program is Right for You?.)
Does it make sense though to do an MBA at a “more seasoned” age, or is it just a total waste of energy, time, and money? At a certain age, do MBAs become meaningless? Is it worth the hassle? Ask yourself this: Is there an age limit for learning and expanding your horizons? Of course not! Learning is an essential and never-ending pursuit on the path to excellence. People do MBAs at all ages and for different reasons. For some people it’s to fulfill a lifelong aspiration. For others, it’s about filling certain skill gaps and ensuring a successful and long career. For some it’s about making a career switch. While older candidates may not see the salary increase that younger students experience, the lifelong benefits that come with getting an MBA at a top school are unparalleled.
MBA Options Designed for Applicants Over 30
Recognizing demand for an older demographic to pursue management acumen, business schools pioneered the EMBA as option designed specifically for people in their 30s and 40s who want to continue working while pursuing their degree. (Compare an Executive MBA (EMBA) vs. the full-time MBA.) Many schools such as MIT Sloan, Chicago Booth and Duke University’s Fuqua offer programs which allow you to work and study across different continents over a period of roughly 18 months. Chicago Booth EMBA students are 38, with 14 years of work experience on average. The average age of MIT Sloan’s latest EMBA class is 41, with an average of 17 years in the workforce.
Older Applicants Need To Be Wiser
Overall, if you’re in your 30s and applying for a top MBA, you need to be wiser and even more strategic than younger candidates in how you approach your application. You need to position your experience as a strong asset. Show the admissions team that with your maturity and background you will be a major contributor to your class and as a future alum.
You will need to explain why you are applying only now for an MBA. Whether it’s military service, a commitment to a start-up venture, or a lengthier educational journey, as is common for international students, be sure to share this context in your application as many MBA programs make exceptions for these circumstances.
Applicants who are 30+ should be realistic about post-MBA job plans and be aware that they might have to start at a lower level, especially if they’re making a career shift, and they may not see an initial salary increase. Make sure that your career goals are consistent with what’s realistic for an older student (i.e., don’t expect to be hired by McKinsey if you have 10 or more years work experience under your belt). Be very careful not to give your dream school any doubts about how you’ll impact their job placement stats.
Articulate a plan that is both achievable given your background but that also leverages your additional experience. For older candidates, conveying a compelling MBA career vision is even more important, as the admissions teams will expect you to have an even more solid plan than less experienced candidates. You need to convince them that you will not struggle with your job search and will be well employed upon or shortly after graduation.
It is also key that you clearly communicate why you are a good fit with the school and its community. Make sure your essays highlight how engaged you are in your community and/or your activities and passions outside of the office. Do your research and make connections with the school, talking to admissions representatives and attending information sessions for both full-time and EMBA programs.
Show the admissions team why your additional years of experience are an advantage and why NOW is the ideal time for you to pursue your MBA.
Bottom Line
The bottom line is you’re never too old or experienced to get an MBA. The average age of a full-time MBA student is 28 years old, but that is just an average. Countless 30-somethings have received their MBAs at tops schools in the US and Europe and reaped the lifelong benefits of doing so. With age comes wisdom, as they say.
Be sure if you are older and more experienced than the average to approach your application even more strategically. But have no doubt, getting into a top business school at 30 and above is more than possible.
Over 85% of our clients at Fortuna Admissions who were over 30 secured their place at a top business school. So why not you?
Want More Advice?
View related articles by my Fortuna Admissions colleagues:
- Understanding the Different Type of MBA Programs
- Should I Go To Grad School?
- Executive MBA vs. MBA: 5 Key Differences
- How to Research MBA Programs
- 10 Tips to Apply for a Specialty Masters in Business (MIM, MFIN, MSMS, & More)
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Fortuna’s Melissa Joelson is an Expert Coach and former INSEAD Director of Communications. For a candid assessment of your chances of admission success at a top MBA program, sign up for a free consultation.