MBA graduates decry the degree as a joke, the biggest waste of time and money imaginable, a confidence game. No one disputes that an MBA from a highly prestigious school such as Harvard, Wharton, Chicago, or Stanford can lead to high pay, but that this is because those schools are so hard to get into (and so costly once you get there), and that only the best and brightest fast-trackers have a shot. In other words, they are people who most likely would have succeeded whether they went to B-school or not. Overall, the evidence suggests that for most managers a couple of years of extra work experience, not more time spent in classrooms, will pay off better than a graduate business degree.
The thing is that his bosses think that if he leaves and takes 2 years off, even if it's at Harvard, he would be worse off than staying and working those 2 years.
I am starting law in the fall and plan on enrolling in the joint degree JD/MBA program. My intentions are to practice securities, corporate, and real estate law in a major metropolitan area. Most books I have read so far concerning securities regulation as well as the SEC's website looks favorably obtain the joint degree. I am wondering how you guys feel about the joint programs versus pursuing one or the other degree. I realize that a great deal of information is learned first hand on the job about securities but I think what is taught in the MBA program lays the foundation for what your mentors will teach you in the firm. Let me know what you guys think.
But of course, he does not need an MBA -- the private equity industry pays top dollars and as a director he should be making at least $100K. It does not pay to attend a top-ranked school. That is because the likes of Wharton and Harvard tend to attract high earners, making it harder to get a big salary bump at graduation and recoup the investment in an MBA. How hard? For Harvard grads, the breakeven point will not come until 2020, or about 20 years shy of retirement!!!
Is it just money you people are after in your life? If so, then MBA is not worth it if you like your current job and all. But as with anything else in life, you cannot just summarize MBA into ROI, Cost of Capital or IRR. As with marriage, you don\\\'t normally go around trying to find the cost of capital and ROI -- no one would get married or have kids!
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