Not doing an mba because they're earning so much

Question

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... ?

aviroop · Answer

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.

kryzak · Answer

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.

zakk · Answer

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

kryzak · Answer

well said Zakk!

kidderek · Answer

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

ishcabibble · Answer

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:

mNeo · Answer

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".

kidderek · Answer

HAHAHAHAHHA . . . it's funny cause it's true.

gmatclb · Answer

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

Not doing an mba because they're earning so much

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