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Not doing an mba because they're earning so much

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adcxaway
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Not doing an mba because they're earning so much [#permalink] New post   17 Sep 2007, 20:27
https://www.nytimes.com/2007/09/16/busin ... Sd/TTYeezQ

how many people will have the same opportunity as them?

so, i guess the cream of the crop don't really do an MBA... ?
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aviroop
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[#permalink] New post   17 Sep 2007, 22:05
ok.. Mr Hammond in the article says
If he were looking at someone who went to Harvard Business School after the two-year analyst program at Goldman, “I’d be suspicious,” he says. “I’d be saying, ‘What was it you were doing wrong that you couldn’t get a promotion at Goldman or did not pursue an opportunity with a private equity or hedge fund?

Is he serious??? Doesnt he know that the analyst program is only for 2 years after which you either you get into B School or go bust. You can be promoted to an associate, which unfortunately does not happen to every analyst.
And not every MBA grad would be pursuing opportunties with a private equity.

These folks are comparing the cost of an MBA education to a loss of half a million in two years.
Umm.. isnt education supposed to be priceless!!!!!

And if most people like the examples here do not wish to go to B-school, superb!!!!! less competition for average joes like me.
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[#permalink] New post   17 Sep 2007, 22:23
I guess some people see it differently. To me, possessing the education means more to me than $500K. If it allows me to be happy at my job, control my own future, and maybe have the potential to get even richer than someone who just climbs the ranks at a hedge fund company, then it's worth it. Higher risk, greater gain, right? :)

I did hear from a friend of mine that there are/will be fewer IB and consulting people applying to B-schools this year because the economy is doing well and it's better for them to just make more money while the market is good? Dunno how valid that is...

EDIT: Actually, now that I read the whole thing, it makes sense. If you''re sticking with ONE industry, and you're already doing great in it, why get an MBA? If I were an entrepreneur already, started a few successful companies, and plan on starting more companies, I don't think I would go get an MBA unless I felt I was really deficient in my leadership skills or lacking of a network (unlikely scenario). So while this article makes an MBA sound worthless, it does have some good points for people who love their career and are very good at it.
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[#permalink] New post   17 Sep 2007, 23:27
These are what is called in the news industry "chicken little" articles. they are edgy, get people talking, almost always go against the norm. This writer did his/her job.

if that is the case, education itself is a waste of time. If you're good in math, why take those pesky philosophy classes, art classes, bowling, psych, blah blah blah.

Bill Gates and Oprah don't have a MBA. They make 7 figures a minute. there are the top .001% that have a combination of blind luck, smarts, and grit in heaping amounts. Some of us just have large amounts and need a bit of refinement

:-D
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[#permalink] New post   18 Sep 2007, 00:02
well said Zakk!
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[#permalink] New post   18 Sep 2007, 05:52
zakk wrote:
These are what is called in the news industry "chicken little" articles. they are edgy, get people talking, almost always go against the norm. This writer did his/her job.

if that is the case, education itself is a waste of time. If you're good in math, why take those pesky philosophy classes, art classes, bowling, psych, blah blah blah.

Bill Gates and Oprah don't have a MBA. They make 7 figures a minute. there are the top .001% that have a combination of blind luck, smarts, and grit in heaping amounts. Some of us just have large amounts and need a bit of refinement

:-D


word.

sometimes it feels like bschools want those who least need an MBA.
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[#permalink] New post   18 Sep 2007, 06:07
kidderek wrote:
zakk wrote:
These are what is called in the news industry "chicken little" articles. they are edgy, get people talking, almost always go against the norm. This writer did his/her job.

if that is the case, education itself is a waste of time. If you're good in math, why take those pesky philosophy classes, art classes, bowling, psych, blah blah blah.

Bill Gates and Oprah don't have a MBA. They make 7 figures a minute. there are the top .001% that have a combination of blind luck, smarts, and grit in heaping amounts. Some of us just have large amounts and need a bit of refinement

:-D


word.

sometimes it feels like bschools want those who least need an MBA.


I second that "word" to both of you! Of course the b-schools want students who are already successful - it makes their class profiles look better, and they already know that these people will be successful after graduation. :wink:
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[#permalink] New post   18 Sep 2007, 08:06
kidderek wrote:
sometimes it feels like bschools want those who least need an MBA.


Absolutely ! A friend told me, "In your apps, you have to show to the B-schools why you need an MBA to be successful while showing that you don't really need an MBA to be successful". :x
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[#permalink] New post   18 Sep 2007, 09:40
mNeo wrote:
Absolutely ! A friend told me, "In your apps, you have to show to the B-schools why you need an MBA to be successful while showing that you don't really need an MBA to be successful". :x


HAHAHAHAHHA . . . it's funny cause it's true.
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[#permalink] New post   18 Sep 2007, 11:48
kryzak wrote:

I did hear from a friend of mine that there are/will be fewer IB and consulting people applying to B-schools this year because the economy is doing well and it's better for them to just make more money while the market is good? Dunno how valid that is...




I thought the economy was not doing well. Wasn't the GDP down 2 straight quarters in a row - recession.
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