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Elite MBA Programs Report Steep Drop in Applications

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Re: Elite MBA Programs Report Steep Drop in Applications

#151

Post by arcturus17 »

formercoder wrote: post #146
arcturus17 wrote: post #95

Earlier quoted context omitted.

I don't know about your friends but the average salary out of an elite b-school is something like 160k in the best of cases [1], not the ranges you mention... Either they're total outliers, or you're talking about something like an exec MBA, or something else altogether. [1] https://www.usnews.com/education/best-graduate-schools/top-b...

Who cares about average salary? The two most popular post-mba paths are investment banking and consulting, I know exactly what the post-mba IB comp is: 1st full year associate: 150k base, 70-100% bonus VP comp is easily above 400k Consultants make $165k+ base with slightly smaller bonuses out of school The numbers schools put out are not contextualized. The high paying roles out of the top ~20 MBA programs command to…

The article does say "salary and bonus" though... So if the figures are true there must be a good number of people not getting close to this.

And regardless, still a far cry from what OP was claiming.

Re: Elite MBA Programs Report Steep Drop in Applications

#152

Post by [deleted] »

airstrike wrote: post #133
iamasoftwaredev wrote: post #120

Earlier quoted context omitted.

> so I'll give MBAs the benefit of the doubt Why, that seems like a rather silly thing to give the benefit of the doubt on. Hiring someone into a high responsibility role based on education rather than experience and proven ability. I don't see why you would do that... > I am an entirely different person after completing my MBA ah.

Dude. Honestly feels like you're being purposefully hard to engage with for the sake of pushing your agenda. It's tiring, really. > Why, that seems like a rather silly thing to give the benefit of the doubt on. Hiring someone into a high responsibility role based on education rather than experience and proven ability. I don't see why you would do that... Who said they are hired on education _rather than_ experience a…

[deleted]

Re: Elite MBA Programs Report Steep Drop in Applications

#153

Post by alteria »

bluedevil2k wrote: post #77
helpPeople wrote: post #53

I'm not sure what an "elite" college teaches that a "regular" college doesn't. Maybe quality of student is better, but the content seems negligible. Heck I find the personalities of young "elite" grads need additional shaping in the real world.

Elite schools move much faster and cover more material than a regular school would. Obviously with the smarter kids at the elite school they can get more advanced.

I'm not sure this is as true that the MBA level. The benefits over a "regular" school are usually in networking and "better" recruitment.

Re: Elite MBA Programs Report Steep Drop in Applications

#154

Post by aggie »

ameister14 wrote: post #71
onlyrealcuzzo wrote: post #70

Earlier quoted context omitted.

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…

Well, as to #2, if you get an MBA right out of college it's theoretically more likely to be worth it, simply because the multiplier effect has more years to work with

Not if the multiplier is lower. You assume the value of the degree is the same when earned without work experience to relate to what you're learning, or that you will be able to build the same network. Not to mention you are less likely to be accepted into as good of a program without work experience.

Re: Elite MBA Programs Report Steep Drop in Applications

#156

Post by ryanmercer »

airstrike wrote: post #138
ethbro wrote: post #107

Earlier quoted context omitted.

The reorientation of companies, driven by MBA conventional wisdom, into shareholder-centric, stock-price optimizing machines has come at the detriment of building long term value and delivering better products to customers. Rebuttal? And let's center our conversation on the average MBA graduate. I'm sure there are schools with different approaches, but no true Scotsman doesn't seem like it would be productive.

> has come at the detriment of building long term value and delivering better products to customers. Sent from my iPhone

*Sent from my iPhone

John Jones Smith III, MBA CSSGB/CSSBB BLT USA PB&J

Office: 555-555-5555

Cell: 555-555-5556

Fax: 555-555-5557

Secretary: 555-555-5558

Random Latin Quote

INSERT Professional head shot/INSERT

Company Website

INSERT Company logo /INSERT

Re: Elite MBA Programs Report Steep Drop in Applications

#157

Post by noipv4 »

clairity wrote: post #84
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.

> "The rise of the MBA has seen the downfall of quality." specious and unsupported statement. what "quality" are you talking about? what "downfall" has there been? when, how and why did "it" rise in the first place? you're making a fundamental attribution error (a topic taught in an MBA program, no less) by hinting at structural issues that are much wider and far-reaching than a simple graduate degree. make a reasone…

Boeing 737 MAX. Apple laptop keyboards. VW diesel cars. The list goes on. MBAs effectively look at any organization as if it is a pin factory.

Re: Elite MBA Programs Report Steep Drop in Applications

#158

Post by shantly »

thrav wrote: post #59
helpPeople wrote: post #53

I'm not sure what an "elite" college teaches that a "regular" college doesn't. Maybe quality of student is better, but the content seems negligible. Heck I find the personalities of young "elite" grads need additional shaping in the real world.

The right network is worth its weight in gold. Stanford or Cal MBA gives you access to all the right people. A huge contingent of other Bay Area high achievers to mix and mingle and start companies with and take investments from. MBA from the University of Alabama would probably not do much for you in the Bay, but could be 10x as valuable as Cal in Atlanta or Birmingham.

There's a certain career path that seems to start with a top-tier MBA, and by one's 30s has one running a VC backed company as CEO (you have 40 employees and one of them is your executive assistant—can't let your CEO job take up your entire work day like it's a real job, after all!), sitting on the board of a couple others, "advisor" positions with a startup or two or a fund, self-promoting on social media constantly, and apparently still having plenty of time for family & kids (and for posting about how tough it is a busy working executive/entrepreneur/investor like you to find time for the long afternoon weekday family picnic, as part of the self-promoting social media posts).

It's like a whole other world. A world where you can have five jobs and none of them take more than a couple hours a day and all of them pay fat checks. WTF.

Oh but better make sure you own anything your little peon workers do in their off time. Wouldn't want them giving your business anything but their all, 40+hrs a week.

(source: snooping on Linkedin, mostly, plus conversations here and there)

Re: Elite MBA Programs Report Steep Drop in Applications

#159

Post by noipv4 »

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.

'MBA stereotype: arrogant, entitled pricks whose life plan from high school was get the right grades, do the right extracurricular activities, go to the right college, get the right grades, get the right internship, get the right job, kiss everyone's ass and get good evaluations, get the right GMAT score, get into HBS, and then be anointed as the elite, highly-paid business person that they were born to be. They were process-oriented people who didn't care about creating value, they just wanted their slice of the pie.'

Re: Elite MBA Programs Report Steep Drop in Applications

#160

Post by fiter »

airstrike wrote: post #148
headmelted wrote: post #145

Earlier quoted context omitted.

https://www.businessinsider.com/the-mba-effectively-does-not... "Actually, 40 Years Of Data Show The MBA Effectively Does Nothing -- It Has No Impact" - Business Insider https://www.economist.com/whichmba/nothing-special-mbas-are-... MBAs are no longer prized by employers - The Economist There's a lot more links like that on Google, I'll leave it to the reader to find them. That said, I found this one interesting: Ht…

Strawman. I didn't claim there aren't articles out there about how useless MBAs are.

What position is appropriate for a person with an MBA but little real world experience? I think the answer might help you and the other poster align.
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