Highlighting the “shadow budget” of additional travel expenses that can often accompany an already expensive business degree, the New York Times asked mbaMission President/Founder Jeremy Shinewald just how much MBA students should expect to invest in “lifestyle experiences.” Bonding with classmates on international excursions and keeping active with the seemingly limitless social functions of MBA student life have become increasingly vital to one’s induction into the business school network. Many students say that socioeconomics can play a decisive role in how much time they spend with one another.
“My father went to business school a generation ago as a married 25-year-old, and I can assure you he has no stories of jetting off to Vegas for the weekend,” says Shinewald in the article, noting that bars, parties and trips now occupy a significant portion of the average MBA student’s schedule. “I would say that $5,000 total for two years is a low to moderate budget, but is one that would still allow a student to experience significant social and academic opportunities.” The high-end budget for such expenses, Shinewald explains, can run as much as $20,000 to $30,000 for two years. Still, many students see the investment in social and travel opportunities as part and parcel of buying into an invaluable business network.