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Elite MBA Programs Report Steep Drop in Applications

wsj.com

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Re: Elite MBA Programs Report Steep Drop in Applications

#61

Post by bobjordan »

aoveri wrote: post #50

Having started my own company and done everything from doing coffee runs for my team to writing investment briefs, I'm not sure what an MBA would teach me? Not being snarky, genuinely curious as to what benefit I could derive as I've always seen as something that I'd eventually pursue.

From my experience getting my MBA from Darden in 2008 and then starting my own businesses by 2010. The number one benefit was how it helped to build my professional network.

Before, I was a shop floor manager in a few fabrication facilities in WV and Southwest VA in rural areas. Without my MBA experience, I'd never have a chance to meet people working at major Wall Street banks. I didn't have any finance industry experience.

Fast forward into my summer break between 1st and 2nd year, I received an offer from Bear Stearns to work in NYC. I didn't take that job. Instead, I took an offer to work in Newport Beach, CA as a management consultant. Hard decision, right? NYC or the beach in Orange County - I chose the beach. These are options that never would have happened without my MBA. Now as an entrepreneur, if I want to go raise funds, I have a network to help with introductions.

Also, studying for my MBA at Darden changed my thought patterns in making decisons under conditions of uncertainty. Courses in quantitative decision analysis and option valuation introduced me to monte-carlo methods and real option analysis. Now, I don't often break out a black scholes model to help me make decisions. But, I gained a fundamental understanding of how to analyse uncertain situations and find decision points to cut downside and increase upside. This has helped me to stay in business working for myself for 10 years now.

Re: Elite MBA Programs Report Steep Drop in Applications

#62

Post by jeffreyrogers »

refurb wrote: post #51
close04 wrote: post #48

Earlier quoted context omitted.

After working with so many MBAs from prestigious schools I find it very hard to take this kind of title at face value, before seeing the person in action. Most had an MBA at 23 years old, basically jumping straight from university classes to MBA classes with nothing in between. At best the MBA did not bring anything. At worst it made some feel so entitled that they actually performed far worse. I fail to see the adde…

Most of the top ranked MBA programs require 3-5 years of work experience to get in. I think it’s Harvard that allows a very small subset to go directly from undergrad.

I know people who've done a 2+2 program at Harvard, where they're admitted after undergrad but have to work for two years before being admitted. I guess it's possible to go straight to an MBA, but I don't see why it's desirable for most people. Most MBA students see it more as a credential and networking opportunity.

Re: Elite MBA Programs Report Steep Drop in Applications

#63

Post by TheHypnotist »

aoveri wrote: post #50

Having started my own company and done everything from doing coffee runs for my team to writing investment briefs, I'm not sure what an MBA would teach me? Not being snarky, genuinely curious as to what benefit I could derive as I've always seen as something that I'd eventually pursue.

My undergrad is in Finance and my advisor back in 2008-2009 said don't get an MBA, you already have a business degree.

So to answer your question, i'm not sure it'll teach you a whole lot. Currently going for my MS in IS.

Re: Elite MBA Programs Report Steep Drop in Applications

#64

Post by pastor_elm »

aoveri wrote: post #50

Having started my own company and done everything from doing coffee runs for my team to writing investment briefs, I'm not sure what an MBA would teach me? Not being snarky, genuinely curious as to what benefit I could derive as I've always seen as something that I'd eventually pursue.

MBAs are a gatekeeping mechanism for the rich

Re: Elite MBA Programs Report Steep Drop in Applications

#65

Post by gringoDan »

MiroF wrote: post #36
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 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 t…

Yeah this sounds like a combined MBA/MS CS.

You can easily go through an entire MBA program and concentrate in something like Marketing where the most technical class you'll take is Stat 102.

Re: Elite MBA Programs Report Steep Drop in Applications

#67

Post by sputknick »

aoveri wrote: post #50

Having started my own company and done everything from doing coffee runs for my team to writing investment briefs, I'm not sure what an MBA would teach me? Not being snarky, genuinely curious as to what benefit I could derive as I've always seen as something that I'd eventually pursue.

I did a night school MBA in my 20s (paid for by my employer). Nothing prestigious, nothing particularly hard. My undergrad was in CS, so it was a lot of classes I had never had. I had no idea what the difference between accounting and finance was. It taught me the fundamentals that are now helping with building my business. Today you could probably learn the same thing from a good Udemy course, but it was nice to have a REAL accountant I could ask questions.

Re: Elite MBA Programs Report Steep Drop in Applications

#69

Post by notfromhere »

bitL wrote: post #21

Funny that UIUC's online iMBA on Coursera is exploding. I've read they went from >100 to >2500 students in 4 years. That could have some effect on the market?

20k is easier to swallow than 50k a year plus lost wages. Plus 20k would have a way higher lifetime ROI than 200k.

Re: Elite MBA Programs Report Steep Drop in Applications

#70

Post by onlyrealcuzzo »

close04 wrote: post #48
luc4sdreyer wrote: post #10

Applications are still growing, the highest was Canada with 9.4% growth between 2018 and 2019: > Applications to U.S. business schools, including M.B.A. programs, fell sharply, while rising in Canada, Europe and China. just not in the US: > “There’s perception, which we absolutely pick up in our data, that the U.S. is not a welcoming environment,” said Sangeet Chowfla, GMAC’s chief executive.

After working with so many MBAs from prestigious schools I find it very hard to take this kind of title at face value, before seeing the person in action. Most had an MBA at 23 years old, basically jumping straight from university classes to MBA classes with nothing in between. At best the MBA did not bring anything. At worst it made some feel so entitled that they actually performed far worse. I fail to see the adde…

CV fluff is the important bit.

I'm willing to bet most MBA students directly from undergrad with no work experience between are only getting an MBA either because:

1) they couldn't get a good high paying job right out of college.

and/or 2) they read that an MBA is a good investment, and MBA students on average make $X more per year (without doing their MBA calculations and doing the time discount and opportunity cost to figure out it's propbably not worth it).

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