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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

#171

Post by mcrad »

iamasoftwaredev wrote: post #120
airstrike wrote: post #116

Earlier quoted context omitted.

> little to no empirical evidence that it prepares students for business success in the real world. I haven't seen much evidence to the contrary, either. All I see is anecdotes from both sides, so I'll give MBAs the benefit of the doubt. Speaking for myself, I am an entirely different person after completing my MBA. I've become an analytical thinker to a fault and maintain my soft skills. Learned a metric shit ton of…

> 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.

> 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...

What does that have to do with MBA's? The tech industry is littered with folks that look good on paper and can be plugged into some technocratic niche but have little real-world experience.

Re: Elite MBA Programs Report Steep Drop in Applications

#172

Post by sedachv »

airstrike wrote: post #74
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.

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…

> the GMAT is a tough exam

It might work ok as a way to filter out people who had a poor quality undergraduate education, but it is not a tough exam. I got a 700-something score (95th percentile) in 2011 on my first try with less than 6 hours of preparation. The math portion of the GMAT was primarily about doing mental arithmetic, and did not involve any mathematical concepts past the middle school level. The language portion was primarily about English reading and writing skills.

Re: Elite MBA Programs Report Steep Drop in Applications

#174

Post by brixon »

josephdviviano wrote: post #173

Is it just me, or is the comment section all about hating on MBAs, when the article is about how these elite programs are losing out due to changes in US immigration policies?

When an article is behind a pay-wall you will have people commenting based on the title alone.

Re: Elite MBA Programs Report Steep Drop in Applications

#175

Post by sjdb77 »

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.

If I got into HBS or Stanford GSB I would definitely go still. If you do it right (e.g. invest in building relationships with other students, professors, investors) the ROI is massive.

Re: Elite MBA Programs Report Steep Drop in Applications

#176

Post by aprao »

gringoDan wrote: post #55

This is a good thing. People are realizing that a $500,000+ upfront cost (tuition + 2 years' lost income) had better have an an astronomical ROI. In many cases, it doesn't. Anecdotally, I went to undergrad at a school with an elite MBA program. It seemed to me that the only hard part of the MBA program was getting in; the MBA students were essentially paying to have a 2 year networking party. Their experience was lik…

Let me guess, Wharton?

Re: Elite MBA Programs Report Steep Drop in Applications

#177

Post by MiroF »

iamasoftwaredev wrote: post #90
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.

It's a 2 year program and you're also supposed to be learning business administration. I know they like to select the smart people who have lots of extra money, but when in the program is all this stuff taught? Being managed by someone with shallow technical skills and bunch of book knowledge about how to manage doesn't like a good time.

> Being managed by someone with shallow technical skills and bunch of book knowledge about how to manage doesn't like a good time.

Tell this to anyone in C-suite please.

Re: Elite MBA Programs Report Steep Drop in Applications

#179

Post by loco5niner »

sjdb77 wrote: post #175
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.

If I got into HBS or Stanford GSB I would definitely go still. If you do it right (e.g. invest in building relationships with other students, professors, investors) the ROI is massive.

> the ROI is massive

For the individual holding the MBA

Re: Elite MBA Programs Report Steep Drop in Applications

#180

Post by walshemj »

iamasoftwaredev wrote: post #94
airstrike wrote: post #87

Earlier quoted context omitted.

I don't know. As the son of a High School teacher and an unemployed father from a third world country, I'm probably not what you call "smarter rich kid" yet I went to a top 5 MBA. Many of my classmates came from equally diverse backgrounds and nationalities. I think 30%+ of my class were foreigners. But go on, it's easy to hate on MBAs. It's the one bigoted view everyone is seemingly allowed to have.

> I think 30%+ of my class were foreigners. Because foreign born people can't be rich? What income percentiles are Harvard MBA students coming from?

Having a second degree is a big bonus when it comes to visas - you now see people doing a BSA/BA then immediately a MBA for this reason.

Originally MBA's where for 30 year olds on a fast track at big companies.

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