Elite MBA Programs Report Steep Drop in Applications • Hacker News Board

Re: Elite MBA Programs Report Steep Drop in Applications

#161

Post by shantly » Tue, Oct 15, 2019, 6:50 PM UTC

robohoe wrote: post #9

goatinaboat wrote: post #3

Earlier quoted context omitted.

I’d hope it’s because industry has finally seen the harm MBAs do, but I’m not holding my breath

You and me both. Anecdotally a lot of seasoned tech folks I talk to say that their experience trumps masters degrees. Only if somebody wants to get into management then they may be see an upside to getting one. Personally during interviews I don’t even look at the school anymore. I’ve seen too many folks with masters degrees that couldn’t properly articulate technical terms or even talk like they have a masters degre…

I've had enough mediocre experiences with MBAs and CS master's graduates alike that either puts me on my guard, these days. Not sure what the deal is with that.

Re: Elite MBA Programs Report Steep Drop in Applications

#162

Post by [deleted] » Tue, Oct 15, 2019, 6:50 PM UTC

rowanG077 wrote: post #81

bluedevil2k wrote: post #77

Earlier quoted context omitted.

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.

Do you have any examples of this? I don't feel people I have met from elite schools actually know more material theory then from other schools. If I look at online courses the content of those from elite schools doesn't differ much from courses I have taken in a non-elite school.

[deleted]

Re: Elite MBA Programs Report Steep Drop in Applications

#163

Post by commandlinefan » Tue, Oct 15, 2019, 6:56 PM UTC

mikeryan wrote: post #124

I'm a Software Engineer by trade but now run an interactive agency. I got a night MBA at a local state school (actually got tuition covered by my company) while still working as a Software Engineer and wondering if I wanted to stay on that path indefinitely. Did my MBA qualify me to run a business? No but that being said I found a lot of what I was taught really valuable in providing a baseline of getting me past not…

> Did my MBA qualify me to run a business?

I can’t help but notice the similarity between the “MBA is useless because it doesn’t teach you everything you need to know about how to run a business” viewpoint and the (also popular here) “CS degree is useless because it doesn’t teach you everything you need to know about programming” viewpoint. If somebody spent a few years reading about and attending lectures about a topic, they necessarily know at least a few things they wouldn’t have otherwise known.

Re: Elite MBA Programs Report Steep Drop in Applications

#164

Post by chrisfinazzo » Tue, Oct 15, 2019, 6:56 PM UTC

airstrike wrote: post #118

bertjk wrote: post #106

Earlier quoted context omitted.

I can accept the pretty smart part (I've never seen the GMAT but I'll accept it for the sake of argument) but what part of getting an MBA filters for "possessing soft skills, being personable, ready to meet with clients or manage people and probably well-connected"?

There are multiple in-person interviews, your resume has to be pretty balanced (you can't just be a math wiz), you need to show a track record of performing well on the job for 3-5 years prior to your MBA, usually in the form of multiple promotions, which signals you're not terrible to work with. Also helps to have a broad range of interests (including things you like doing for fun) because admission committees don't…

Honest question: Do you think this disadvantages people who have basically followed a traditional path? By that I mean, if you are a finance major from Harvard, Yale, etc who goes to work at a large firm (say Goldman).

Is there a chance they might get looked down upon because of the emphasis on the "whole person" or finding "interesting" candidates.

Poets & Quants MBA odds doesn't talk about those kids, yet they will freely admit many of them end up at a top program for their MBA.

(For the record, this is not me personally, but still I wonder how these kinds of candidates get evaluated, given the current environment)

Re: Elite MBA Programs Report Steep Drop in Applications

#165

Post by [deleted] » Tue, Oct 15, 2019, 6:57 PM UTC

notfromhere wrote: post #131

semiotagonal wrote: post #99

Earlier quoted context omitted.

Trading seems to have people from a very wide variety of backgrounds and capabilities. I think it's the result of random events being the most significant filtering mechanism. Anyone can get burned on a trade at any time, so staying in the game doesn't really depend on anyone's qualifications or abilities.

Feel like for trading you either have it or don't, and no pedigree will save you on a bad trade.

[deleted]

Re: Elite MBA Programs Report Steep Drop in Applications

#166

Post by chrisfinazzo » Tue, Oct 15, 2019, 6:58 PM UTC

stevesimmons wrote: post #149

bertjk wrote: post #106

Earlier quoted context omitted.

I can accept the pretty smart part (I've never seen the GMAT but I'll accept it for the sake of argument) but what part of getting an MBA filters for "possessing soft skills, being personable, ready to meet with clients or manage people and probably well-connected"?

> what part of getting an MBA filters for "possessing soft skills, being personable, ready to meet with clients or manage people and probably well-connected"? MBAs at the top schools demand intense team work. Without it, you won't pass. My MBA experience was INSEAD, in France. For the first 3 terms (of 5), all work was done in teams of 5. The school chose the teams explicitly to maximise the chance of conflict (by ma…

HBS still does this, as far as I know for first years ("learning teams"). Although you may be evaluated individually, success or failure is a team effort when everybody brings something to the table.

Re: Elite MBA Programs Report Steep Drop in Applications

#167

Post by fdjlasdfjl » Tue, Oct 15, 2019, 7:04 PM UTC

TheHypnotist wrote: post #63

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.

I took my undergraduate business degree at the same time as a colleague took his MBA. They were similar enough that we were taking exams on the same topic at the same time.

I'd only consider an MBA if it were a top program, and only to build my networking.

Re: Elite MBA Programs Report Steep Drop in Applications

#168

Post by commandlinefan » Tue, Oct 15, 2019, 7:06 PM UTC

ucha wrote: post #135

It seems that almost all the comments are about the downfall of MBAs. The actual article - not the title - says applications rose in Europe, China and quite dramatically in Canada. If applications rise by 9% in Canada while they decrease by 9% in the US, it's quite a good argument for the thesis of the author which is that immigration restrictions are responsible. It used to be easy to get an MBA in the US then get a…

Well, I know this sort of sentiment is usually dismissed as xenophobia but… where’s the evidence that this is a bad thing _for U.S. citizens_?

Re: Elite MBA Programs Report Steep Drop in Applications

#169

Post by tinyhouse » Tue, Oct 15, 2019, 7:31 PM UTC

cjf4 wrote: post #108

tinyhouse wrote: post #105

Good news. These programs are cash cows and the vast majority who apply for MBA do it for the wrong reasons (networking and a big name school on their resume). There are lots of MBAs from elite schools in my company and the gap is huge. Some are great but some are completely useless. Anyone can have an MBA from an elite school. You just need the money and be willing to spend it on a degree. (sorry MBA graduates, I kn…

>Anyone can have an MBA from an elite school. You just need the money and be willing to spend it on a degree. This is not true at all. Regardless of the value of the degree/experience, elite MBA programs are still difficult to get into and have low acceptance rates.

Yes, saying "everyone can get into" is an exaggeration. However, low acceptance rate doesn't mean much given the pool of candidates who compete to get in is limited to people who are able and willing to spend $100K on an MBA.

Re: Elite MBA Programs Report Steep Drop in Applications

#170

Post by kajecounterhack » Tue, Oct 15, 2019, 7:40 PM UTC

vincent-toups wrote: post #144

airstrike wrote: post #74

Earlier quoted context omitted.

It's not really that generalized as you can pick 1 or more majors and focus on what you want to learn most. Not to mention each MBA school has different characteristics, attracting different candidates and campus recruiters. Stanford and Booth couldn't be more different if they tried. MBA graduates are also not fit for running literally any business. The only thing employers know is that if you come from a top 10 MBA…

Everyone I've ever met who went to one of these schools strikes me either as a straight-psychopath or someone who really wants to be one.

A different anecdote: everyone I've ever met who went to one of these schools is decidedly comp-driven when it comes to career, but a pretty average person otherwise.