Go to a top-tier business school, and that MBA degree may be worth your while. For the most part, however, getting an MBA makes little financial sense anymore.
MBAs no longer special
According to the Wall Street Journal, the early 1990s saw the increase of many part-time and executive MBA programs at lower-ranked schools, as well as online diplomas. The result is that the number of MBA degree holders in society has gone up, but the number of jobs has not kept pace.
According to professor Dr. Brooks Holtom at Georgetown University McDonough School of Business, "An M.B.A. is a club that is now not distinctive. You should not believe that this less exclusive club is going to confer the same benefits."
Drop in MBA salaries
The result of this is proving to be some very costly stories of woe, designed for those with MBAs from schools that aren't top-tier. The numbers bear this out. Average pay for graduates with minimal experience (three years or less) was $53,900 in 2012, according to data from PayScale.com. That's 4.6 percent lower than it was in 2008, and at 186 of the schools PayScale examined, pay dropped a whopping 62 percent over that time span.
It seems that now top-tier companies only recruit from very exclusive schools to keep the exclusivity of the degree. A sluggish economy does not help since there are fewer jobs and more MBAs just sitting out there. On top of that, business schools are giving false hope to students who believe they can get much better jobs with their MBAs.
Universities making money
Universities are making a lot of cash right now on business and law. There are a ridiculous amount of law students and business student's right, which is also really bad news for those students. It is a better idea to evaluate the career industry before you decide to get debt to get another degree, and the average salary is not worth it most of the time. Unless you get into a top tier college, it is not worth it.
MBAs no longer special
According to the Wall Street Journal, the early 1990s saw the increase of many part-time and executive MBA programs at lower-ranked schools, as well as online diplomas. The result is that the number of MBA degree holders in society has gone up, but the number of jobs has not kept pace.
According to professor Dr. Brooks Holtom at Georgetown University McDonough School of Business, "An M.B.A. is a club that is now not distinctive. You should not believe that this less exclusive club is going to confer the same benefits."
Drop in MBA salaries
The result of this is proving to be some very costly stories of woe, designed for those with MBAs from schools that aren't top-tier. The numbers bear this out. Average pay for graduates with minimal experience (three years or less) was $53,900 in 2012, according to data from PayScale.com. That's 4.6 percent lower than it was in 2008, and at 186 of the schools PayScale examined, pay dropped a whopping 62 percent over that time span.
It seems that now top-tier companies only recruit from very exclusive schools to keep the exclusivity of the degree. A sluggish economy does not help since there are fewer jobs and more MBAs just sitting out there. On top of that, business schools are giving false hope to students who believe they can get much better jobs with their MBAs.
Universities making money
Universities are making a lot of cash right now on business and law. There are a ridiculous amount of law students and business student's right, which is also really bad news for those students. It is a better idea to evaluate the career industry before you decide to get debt to get another degree, and the average salary is not worth it most of the time. Unless you get into a top tier college, it is not worth it.
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