Does MBA have no value?

Sometimes traditional school is not the solution. Depending on your goals, it may be better for your trajectory to jump into a career and start gaining experience. During this process, you will learn what you know and what you don’t know – and continuing education can rightfully be pursued rather than political drama for higher salaries and better job titles.

However, as Mark Cuban said earlier…

80% of MBA graduates say their degree is a good investment

  • 53% believe their job is isolated from COVID due to having an MBA.
  • 67% said their MBA improved their career prospects/remuneration as they expected.
  • 66% of respondents saw results in one year.
  • 53% said student debt was worth it.

Going to higher education can be the first step towards realizing your dreams, but the decision can also inspire some uncertainty. After all, not all college degrees lead to better career opportunities. An MBA, however, is one that often provides a much-needed career boost. For more than 100 years, management professionals have earned this degree to hone their business skills and advance their careers.

Disadvantages of pursuing an MBA

  • Cost of pursuing an MBA: An MBA is quite expensive for most people. The cost of the course could be up to INR 20,000,000 which is a significant monetary commitment. An online MBA course is much cheaper than a regular MBA. So, if you’re looking to cut costs while opting for a career upgrade, an online MBA is the perfect choice.
  • MBA Time Commitment: An MBA program is a two-year program and people are often not ready to commit that time to further their education after graduation. So, instead, you can enroll in an online MBA program, which will give you the opportunity to complete the course within the given time. You can also study the course while working part-time or full-time, which will help you develop your skills without reducing your income.
  • Increased focus on specialist skills: When pursuing an MBA with specialization in a particular field of study, there is always the risk of not being able to think outside the box. On the other hand, you can still use your special skills to gain a competitive edge in the workplace and prove that no one does the job better than you.
  • You are solely responsible for a guaranteed return on investment: like any other degree, an MBA course requires the full participation and commitment of the student, and you choose a required specialization. You can secure a guaranteed return on investment if you find a career in the right industry or company by demonstrating your skills and knowledge of the field. Therefore, your success is entirely dependent on your personal growth and how well you understand the necessary skills and put them into practice.

Old wine, old bottle

A question that is not often asked is whether MBAs, even those from top schools, offer their employers a level of leadership and management that make a significant difference to these companies.

P&Q quotes Chris Bones, former head of Henley Business School, as saying that even the best schools can struggle to demonstrate that their students add significantly more value to the companies they work for. The main reason is that the curricula have not met the needs of today’s industry.

The top 25 according to the Republic of Ireland? Not an individual MBA. Is it law or dentistry

But don’t doubt his conclusion that most MBAs fail. “The MBA has a top long tail of elite programs with lucrative benefits,” says Cooper. “Thirteen MBA programs at prestigious schools such as Yale, Penn (Wharton) and Chicago (Booth) offer a lifetime return of over $2 million. This is perhaps to be expected from a degree whose value derives from the networking opportunities available – the choice of institution makes a huge difference to the return on investment of an MBA. The great achievements typically associated with MBAs are only available at a handful of top-tier schools.

Cooper found an advantage associated with elite institutions across the sample. “While 8% of master’s degrees collectively earn more than $1 million, that share jumps to 41% among Ivy League and comparable colleges,” he said. “Research universities have slightly better programs than non-research-focused schools: 10% of master’s degrees at research universities have a return on investment greater than $1 million, compared to 5% at other institutions.”

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