Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Elite MBA Programs Report Steep Drop in Applications

wsj.com

Post reply on HN
Print view View original

31–40 of 226 posts

Re: Elite MBA Programs Report Steep Drop in Applications

#31

Post by rswail »

kyle_v wrote: post #20
duxup wrote: post #12

Earlier quoted context omitted.

There were some good articles that seemed to indicate a serious imbalance in the number of high quality students headed to Wall St. to play with numbers and get rich there there, and in theory this was to the determent of the rest of the economy where their skills were not producing anything.

"where their skills were not producing anything" If this is the case why do so many companies seek going public?

Becoming a public company is a way to get equity investment. That is the purpose of the stock market. It was the original purpose of "investment banks" as opposed to "retail banks".

However, that is not what the bankers of Wall Street now focus on, they are more involved in producing "financial products", packaging arcane structures primarily to encourage trading and thus fees from mindless turnover.

Re: Elite MBA Programs Report Steep Drop in Applications

#32

Post by spamizbad »

duxup wrote: post #15

I was ready to rant about my own experience with MBA students put in pseudo management situations who can't iron their own shirt or couldn't schedule people's hours at a Wendy's... but then I realized this article is about Elite programs. So I wonder are the Elite programs significantly different than other programs? One of my biggest problems encountering MBA students released into the wild is that so many have limi…

Not to defend MBAs here, but doesn't a big portion of the blame fall on organizations that are clearly putting too much weight on their candidate's degree and placing them in jobs they're not (yet) qualified for?

In an alternate scenario: an MBA gets hired to fill a position below management and the higher-ups get a clear picture if they're cut out to manage operations, only awarding the MBA a promotion to management if/when they prove themselves.

Re: Elite MBA Programs Report Steep Drop in Applications

#33

Post by whatshisface »

sct202 wrote: post #22
duxup wrote: post #15

I was ready to rant about my own experience with MBA students put in pseudo management situations who can't iron their own shirt or couldn't schedule people's hours at a Wendy's... but then I realized this article is about Elite programs. So I wonder are the Elite programs significantly different than other programs? One of my biggest problems encountering MBA students released into the wild is that so many have limi…

The elite programs have higher bars to entry so they generally are selecting people who seem to have potential (already smart, already personable, promising early career). Most of these people would end up being successful anyways, but the MBA from an elite program is seen as a way of accelerating that. A lot of the things you mention are people skills that a MBA isn't really going to change.

I have talked to people who have been to fancy MBA programs. The ones who had (substantial, management-related) work experience first say that they already had learned everything the university could teach them. The ones that did it right out of school said that they didn't really understand what the university was saying until they saw it for themselves in the field. These were non-technical MBAs that taught accounting concepts and management strategies (as opposed to these modern MBAs that have a lot of statistics courses), so I'm not sure how closely this aligns with the situation today.

Re: Elite MBA Programs Report Steep Drop in Applications

#34

Post by aswanson »

kyle_v wrote: post #20
duxup wrote: post #12

Earlier quoted context omitted.

There were some good articles that seemed to indicate a serious imbalance in the number of high quality students headed to Wall St. to play with numbers and get rich there there, and in theory this was to the determent of the rest of the economy where their skills were not producing anything.

"where their skills were not producing anything" If this is the case why do so many companies seek going public?

There is a bloat of capital seeking any and all possibility for growth. Even money-destroying companies are going public because growth-chasing has become so desperate.

Re: Elite MBA Programs Report Steep Drop in Applications

#35

Post by MiroF »

kyle_v wrote: post #20
duxup wrote: post #12

Earlier quoted context omitted.

There were some good articles that seemed to indicate a serious imbalance in the number of high quality students headed to Wall St. to play with numbers and get rich there there, and in theory this was to the determent of the rest of the economy where their skills were not producing anything.

"where their skills were not producing anything" If this is the case why do so many companies seek going public?

"If this is the case why do so many companies seek going public?"

Do you think the majority of people working in Wall St are involved in IPO value creation?

Re: Elite MBA Programs Report Steep Drop in Applications

#36

Post by MiroF »

Vaslo wrote: post #18
rswail wrote: post #6

Good. The rise of the MBA has seen the downfall of quality. "Business Administration" is not something that can be taught in such a generic way that an MBA qualifies you to actually run a business. In particular, the rise of Financial "Engineering" has led to huge inequality and the total disconnection of "Wall St" from "Main St" such that their relationship has been completely inverted.

You clearly have no idea what is being taught in Top 20 MBA programs. Many MBA programs are graduating people that get both heavy technical training in their program (stats, data engineering, coding, etc) as well as learning how to properly manage individuals with technical skills.

> You clearly have no idea what is being taught in Top 20 MBA programs. Many MBA programs are graduating people that get both heavy technical training in their program (stats, data engineering, coding, etc) as well as learning how to properly manage individuals with technical skills.

Blatantly false - and I say that as someone with experience with multiple HBS classes. This might be the case for a small minority at those schools, but in no way is it the prevailing wind.

Re: Elite MBA Programs Report Steep Drop in Applications

#37

Post by tossaway1717 »

breitling wrote: post #13

Hasn't there always been an inverse correlation to people going back to school and the economy? Currently, the economy is doing very well, so people are less inclined to go back to school. Once the economy turns and unemployment rises, then I'm sure the MBA applications will rise.

Under what measures is the economy doing “very well”?

I see low unemployment rates as one indicator of good economy, but otherwise we have low labor force participation, low wage growth, low GDP growth (lower than the annual deficit). The S&P 500 is in an earnings recession.

https://www.marketwatch.com/story/the-sp-500-is-in-its-first...

Re: Elite MBA Programs Report Steep Drop in Applications

#38

Post by itronitron »

duxup wrote: post #15

I was ready to rant about my own experience with MBA students put in pseudo management situations who can't iron their own shirt or couldn't schedule people's hours at a Wendy's... but then I realized this article is about Elite programs. So I wonder are the Elite programs significantly different than other programs? One of my biggest problems encountering MBA students released into the wild is that so many have limi…

not sure what the threshold is for 'elite' but a top MBA program will generally require some years of work experience, but not necessarily responsibility for other people.

Most people in MBA programs are there to either a) help jump their career into a higher bracket (i.e. management) at companies where having an MBA is one of HR's checkboxes or b) move into consulting.

Re: Elite MBA Programs Report Steep Drop in Applications

#39

Post by aswanson »

rswail wrote: post #26
Vaslo wrote: post #18

Earlier quoted context omitted.

You clearly have no idea what is being taught in Top 20 MBA programs. Many MBA programs are graduating people that get both heavy technical training in their program (stats, data engineering, coding, etc) as well as learning how to properly manage individuals with technical skills.

You clearly have no idea about what I know or don't know about MBA programs or my overall experience or career. I'm not saying that the skills taught are not useful, what I'm saying is that the concept of a generalized "business administration" course that somehow qualifies you to run any and all businesses is basically flawed. Management is a skill or craft, not a profession. Harvard's model of case studies is a use…

HBS is also a trailer in terms of what is on the horizon and is an indicator of what not to do. There are studies done showing that most of the grads chase the worst fad at the worst time. In 1989 they were all chasing Japanese manufacturing consultancies, in 1999, all internet ceo jobs, etc. They're never predictive, just chasing what seems hot.

Re: Elite MBA Programs Report Steep Drop in Applications

#40

Post by bedhead »

I have an MBA from on of these schools and I can tell you that it's virtually worthless. I went at night because my boss made me and paid for it. (Yes, doing classes from 6-9pm a couple nights per week for two years was miserable) People who quit their jobs and forgo income and instead take on debt to go full-time are insane, the only point is to basically relive college and party 4-5 nights/week. Frankly, I don't see the point of any post-graduate degree in something that's neither specific nor complex.
Post reply on HN