Law school has turned out to be a game of decreasing returns on the tuition investment. Brand new numbers suggested that an MBA business degree has followed suit in recent years. It's only worth your cash if you get the degree from a top-tier business school.
Every person has an MBA now
According to the Wall Street Journal, the early 1990s saw the rise of many part-time and executive MBA programs at lower-ranked schools, as well as online degrees. The result is that the number of MBA degree holders in society has gone up, but the amount of jobs has not kept pace.
At the Georgetown University McDonough School of Business, a professor dr. Brooks Holtom pointed out the problem. He said: "An M.B.A. is a club that is now not exclusive. You should not assume that this less exclusive club is going to confer the same benefits."
Considering average MBA salaries
Between 2008 and 2012, there was a 4.6 percent decrease in the typical minimal pay for graduates with MBAs to $53,900. The typical total pay dropped 62 percent during that time at 186 PayScale schools. This just goes to show that people getting MBAs is really just hurting others who have the degree.
Why the tremendous drop? It's not simply due to the weak, recessionary economy. It's because business schools are dangling false hopes before students. Those with experience don't need diplomas as much, and top-tier businesses tend to recruit from only the most exceptional schools. The glut of MBAs in the U.S. doesn't help matters, regardless of a company's exclusivity, and neither does the sluggish economy that retards the amount of opportunities available.
Universities making money
Business and law are cash cows for universities, but not necessarily for graduates. The prevailing advice that MBA students should heed is that unless they can gain admission to a top-10 business school, they should enter a different field. The amount of debt relative to the average salary is debatably not worth the trouble, otherwise. Learn to assess the career industry before you commit to bone-crushing debt.
Every person has an MBA now
According to the Wall Street Journal, the early 1990s saw the rise of many part-time and executive MBA programs at lower-ranked schools, as well as online degrees. The result is that the number of MBA degree holders in society has gone up, but the amount of jobs has not kept pace.
At the Georgetown University McDonough School of Business, a professor dr. Brooks Holtom pointed out the problem. He said: "An M.B.A. is a club that is now not exclusive. You should not assume that this less exclusive club is going to confer the same benefits."
Considering average MBA salaries
Between 2008 and 2012, there was a 4.6 percent decrease in the typical minimal pay for graduates with MBAs to $53,900. The typical total pay dropped 62 percent during that time at 186 PayScale schools. This just goes to show that people getting MBAs is really just hurting others who have the degree.
Why the tremendous drop? It's not simply due to the weak, recessionary economy. It's because business schools are dangling false hopes before students. Those with experience don't need diplomas as much, and top-tier businesses tend to recruit from only the most exceptional schools. The glut of MBAs in the U.S. doesn't help matters, regardless of a company's exclusivity, and neither does the sluggish economy that retards the amount of opportunities available.
Universities making money
Business and law are cash cows for universities, but not necessarily for graduates. The prevailing advice that MBA students should heed is that unless they can gain admission to a top-10 business school, they should enter a different field. The amount of debt relative to the average salary is debatably not worth the trouble, otherwise. Learn to assess the career industry before you commit to bone-crushing debt.