OP, go to http://poetsandquants.com/
There you’ll find all the relevant info you need on MBA.
That’s not really true. . There are something like 8 major criteria that business schools use to make the admit/reject decision. GMAT scores are merely the most quantifiable of these criteria. . A great GMAT score won’t get you in to a top GMAT program (though a mediocre score will keep you out).
ok did not know that…
There is an admissions consultant answering questions from MBA candidates on this site (thanks for forwarding) - I asked her for her thoughts. She said that in her opinion, MBA is a worthwhile investment regardless of your background or career trajectory. She gave an example of there being uncertainty in the financial services industry in ten years, and therefore having an MBA is a degree that you can fall back on if something happens to your job.
I’m not so sure I agree that having an MBA to ‘fall back on’ adds any value over having a CPA/CFA, but just my opinion.
She also gave an example of vying for a promition in ten years, and someone with an MBA being able to slightly edge someone out who does not have an MBA. I don’t know if I agree with this comment either, in my experience job performance is eons more important than whether you have an MBA.
I don’t think she did a good job at explaining what tangible benefits the MBA has, i.e. from actually going through the process and learning about leadership in the workplace.
I’ve been debating it as well. Seems hard to get unbiased advice. I personally find having 2 years of salary, bonus, and raises, 2 years of work experience, and without 2 years worth of tuition payments a nice thing to fall back on as well.
Agree with wendy
If we are talking about top 5 MBA there’s really no debate, the future value added is so much more in terms of both tangible and intangibles.
Top schools now are accepting younger students which reduces the amount of salary, work experience, etc. given up. It might be debatable if you are in your early to late 30s but when you are couple years out of school it is invaluable in terms of your future career prospects.
Did they mention the current trajectory of most non-top 10 MBA schools? It’s not pretty.
I think there’s a lot to gain from doing an MBA personally, many she mentioned, but please be aware that there’s a lot of business in business school, and not all of them are worthwhile.
Most MBA recruiting consultants do not have an MBA. They have also seen 1000s of candidates and only give you anecdotes from 1 or 2 successful ones. Fwiw.
Just for argument’s sake - MBA could be a good “fall back” asset if the quality of your MBA is much higher than that of your undergraduate degree. For instance, if you went to X State but Harvard Business School, your network and brand recognition will be much improved, and your opportunities when you need them will be much better, after getting the second degree.
Work performance only matters when people are familiar with your work. Sometimes, credentialism and bull shitting ability is far more important than true productivity. In my company, for instance, they replaced some heads of divisions with outside people. This seems to be happening a lot in finance companies. Anyway, the result is that your past achievements are wiped clean, and your fate during a reorganization depends on documented things.
So, I believe there are benefits to getting an MBA. However, those benefits might not justify the costs of the degree, including losing 2 years of income, promotions, and a stable job. For many people who choose to enter the top business programs, I can see these costs going to $1 million or more, that you get today as opposed to in the distant future.