Law university has turned out to be a game of decreasing returns on the tuition investment. New numbers suggested that an MBA business degree has followed suit in recent years. It's only worth your money if you get the amount from a top-tier business school.
Disappearing MBA status
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 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.
Georgetown University McDonough School of Business professor Dr. Brooks Holtom noted that "An M.B.A. is a club that is now not exceptional. You should not assume that this less exclusive club is going to confer the same benefits."
Taking a look at typical 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 average 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.
The problem is that students have false hopes when going in to get their MBA. There are too many students with the degree and not enough exclusivity. With the sluggish economy making fewer jobs, it is even worse. It seems people want experience over diplomas.
Very good news for universities
MBA students should not get their MBA unless they can get into a top ten business university. There are too any business and law diplomas currently. Universities love all the extra cash, but students end up graduating with virtually no job opportunities. Make sure you assess the degree a little more before getting debt to go to university some more.
Disappearing MBA status
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 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.
Georgetown University McDonough School of Business professor Dr. Brooks Holtom noted that "An M.B.A. is a club that is now not exceptional. You should not assume that this less exclusive club is going to confer the same benefits."
Taking a look at typical 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 average 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.
The problem is that students have false hopes when going in to get their MBA. There are too many students with the degree and not enough exclusivity. With the sluggish economy making fewer jobs, it is even worse. It seems people want experience over diplomas.
Very good news for universities
MBA students should not get their MBA unless they can get into a top ten business university. There are too any business and law diplomas currently. Universities love all the extra cash, but students end up graduating with virtually no job opportunities. Make sure you assess the degree a little more before getting debt to go to university some more.
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