Why Josh Kaufman Thinks Business School Is A Waste, P&Q art.

Question

Hi, just run on this crazy article. There is an interesting discussion on the comments section. Don't want to distract R2 applicants with controversial thoughts, but thought that maybe alumni, current students, or actually anybody not so busy right now could share their views about the topic.

https://poetsandquants.com/2010/10/04/wh ... s-a-waste/

bb · Answer

Is that because he is trying to sell a book called Personal MBA? :lol:

https://joshkaufman.net/

PranavChamp · Answer

interesting one but I think that you can't be a leader just by reading some recommended books. When you do MBA,it opens you up to people-networking,leadership opportunities,just to name a few. This entire process makes the awful lot difference.

TwoThrones · Answer

Definitely agree Pranav

Jerz · Answer

My favorite quote:

Nothing like presuming you'd be accepted at one of the most selective programs in the world.

That said, I think there's a kernel of truth buried in there. If there are really 200,000 people getting MBAs every year, there probably are a good chunk of them that don't really need the degree. And there are plenty of questionable MBA programs, especially once you start looking at online degrees.

So I can save you the $1000 consulting fee Josh Kaufman charges with one sentence: read business books and you'll learn about business, and think long and hard about whether an MBA is really right for your career and worth the investment.

drisss · Answer

Well you have to admit that he is not totally wrong... It is true that through a self learning process you can become as "knowledgeable" as an MBA graduate, maybe more. 
However, I think this is not suitable to everyone: there are people who need lectures, classmates, etc... to learn more effectively (I belong to such a group). 
However, I think this is a bad idea to rread this during the application process... makes you wonder wether you really want to invest so much time and so much money: the mba cost (around 150 k$) and the opportunity cost of leaving your job (assuming a salary of around 60k$, that would be 120k$), so a total of 220k$!!!!!!!!!!!!!!
Anyway, I just want to forget about it to get back to my GMAT study...

PranavChamp · Answer

by the way I find Amazon.com book-reviews (especially those both: most favorable and most critical book reviews) far better and insightful than that of Josh Kaufman.

cano · Answer

drisss, that's why I said that I didnt' want to distract Round 2 applicants. If you are applying right now, better focused on your application. One thing about your calculations, anyway. How are you paying for the mba, the 150 k$? If you are getting debt, then you should multiply those 150 by 3, that's what you will end up paying back (I'm not sure about it but I run a quick calculation on Sally Mae's website few weeks ago). If you have savings and/or parents are helping, then I guess your calculation is correct.

I don't want to judge Josh Kaufman's motives, which are already suspicious, because anyways he could have a point. That said, whenever he finds a person disappointed with the whole mba experience, there are other people that say that the mba was great for their careers.

Something that I would like people to comment about: is the school going to teach you to be a leader? If prospective student A is a junior accountant and wants to go up the corporate ladder and considers the mba the way to do it, even if he lacks the qualities of a leader, will he get them in business school? Because in the application essays and the recommendation letters you can infer that schools want already leaders to join the class. If that is true, then I give the point to Josh:
 
I understand that a lot of things that you learn in business school can be learned by a self education process. You can learn accounting, financial reporting, valuation, marketing theory, and many management concepts, to name a few.
To make my point clearer I'll use an example. Let's suppose that I want to learn tae kwon do, with a goal to compete in the Olympic Games. I could enroll a school, where there will be a teacher that will teach me every single movement, will probably have other people learning as well, so we could practice together, and the teacher will supervise and point out what I'm doing wrong so I could focus on those weaknesses until I master the martial art, the school arranges competitions where I could participate. Or, I could buy a set of books, read them, understand everything about tae kwon do, practice at home, and hope to get somehow to any competition.
Obviously, with the second approach you have slim chances of achieving your goals, unless you are a genius AND the right opportunities appear and you take them successfully.

So, my question is: will a top program train me to be a leader? If not (if they expect you to be a leader already, and will teach you things that you can learn at home), then the decision is easy to make. If yes, then you still have to evaluate if the mba is right for you, for your career, are you ready to assume the financial burden, etc...

I spoke to a coworker recently, he's over 40 and has a lot of experience in leadership already. He said he wanted an mba in his resume. I asked why? He said: because it's fashion, it looks so nice in your resume, and because for some higher positions it's kind of a requisite. Of course, he would get any mba, even if it was online, because he already has the skills and knowledge that he will get, so to have just the degree he'll consider the cheapest option.

It was funny, because among my younger coworkers, the idea is that you need to get the mba, they don't know why, but think it's the right thing to do. If you consider studying in a top school, then you need much more reflection than just: I want an mba.

drisss · Answer

Very interesting thread... but let's get back to earth:
if companies value the MBA, then it is worth it, whether we think it is useful, insightful or not...
You can't right on your resume: "read 100 books about international economics, with a pretty good understanding of everythnig that was in its". 
So I guess the MBA is a benchmark for employers, and it is true that the hard selection that B-School tend to do help the companies, by interviewing only what should be above average people, don't you think?

Why Josh Kaufman Thinks Business School Is A Waste, P&Q art.

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards