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 monetary sense any longer.
Disappearing MBA status
There has been a huge increase in the number of people with MBAs despite the truth that there has not been a rise in jobs. The Wall Street Journal reports that this increase started in the early 1990s when many part-time and executive MBA programs started to be offered online and at lower-ranked schools.
According to professor Dr. Brooks Holtom at Georgetown University McDonough School of Business, "An M.B.A. is a club that is now not exceptional. You need to not believe that this less exclusive club is going to confer the same benefits."
Average MBA salaries circling the drain
The result of this is proving to be some very expensive stories of woe, designed for those with MBAs from schools that are not top-tier. The figures 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 corporations only recruit from very exceptional 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.
Intense MBA expansion
MBA students should not get their MBA unless they can get into a top ten business university. There are too any business and law degrees right now. Universities love all the extra cash, but students end up graduating with virtually no job opportunities. Make sure you evaluate the degree a little more before getting debt to go to university some more.
Disappearing MBA status
There has been a huge increase in the number of people with MBAs despite the truth that there has not been a rise in jobs. The Wall Street Journal reports that this increase started in the early 1990s when many part-time and executive MBA programs started to be offered online and at lower-ranked schools.
According to professor Dr. Brooks Holtom at Georgetown University McDonough School of Business, "An M.B.A. is a club that is now not exceptional. You need to not believe that this less exclusive club is going to confer the same benefits."
Average MBA salaries circling the drain
The result of this is proving to be some very expensive stories of woe, designed for those with MBAs from schools that are not top-tier. The figures 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 corporations only recruit from very exceptional 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.
Intense MBA expansion
MBA students should not get their MBA unless they can get into a top ten business university. There are too any business and law degrees right now. Universities love all the extra cash, but students end up graduating with virtually no job opportunities. Make sure you evaluate the degree a little more before getting debt to go to university some more.
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