Marzipam wrote:Define "middle class".

This is dcum so 300,000HHI, probably 🙄

Define "middle class".

Anonymous wrote:M7 and to a certain extent the T10 MBAs are elite, but the degree as a whole is not elite in and of itself.

**to dcum posters. If you come from a family where people only got HS degrees or maybe BAs, getting an MBA is elite among your peer group. In a room of CEOS and industry leaders where everyone went to top 10 schools it may not be impressive but these people are telling their fb friends who likely occupy a very different social circle.

An MBA is a big deal for LC/MC families. Yes, even one from a big state school. These programs can allow for people to become eligible for roles at financial institutions that they wouldn’t otherwise be able fill. Where I work, at a large financial institution, top management positions require a masters degree.

An MBA shows a certain level of work ethic and a dedication to the field. I’m sure these kids did put a lot of effort into the programs and they should be proud of themselves. Just because someone isn’t attending Harvard business school doesn’t mean that they won’t be very successful and be able to further their careers in a meaningful way.

I think some posters are comparing these kids’ lives with their own where they have family members who went to very elite schools, this is not necessary for success and a masters degree in general is a big deal for families where people don’t get professional degrees. It’s a huge accomplishment and, especially in finance, and MBA can allow them to make a lot more money than likely their parents ever did.

M7 and to a certain extent the T10 MBAs are elite, but the degree as a whole is not elite in and of itself.

Anonymous wrote:It's a status symbol of course! For employers it holds more value to get work experience before starting the mba though.

BINGO!!! MBA is totally different experience when you have some work experience. Took MBA courses with kids who had literally never held a job, not even a fast food/waiter/target summer type of job, while in HS or College. Quickly learned that the best partners for projects were those doing MBA after 3-5 years in the workforce.

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Anonymous wrote:Necessary for most financial institutions but not a status symbol. I’m in investment banking and the route to promotion is BA, then two years work experience, and then MBA.

This, and MBA only counts if from Top 10 business school.

Hmmm. That’s funny. LA and SF i banks and PE firms are filled with Anderson (UCLA business school) grads. I happen to know of several PE funds whose partners are all UVA business school grads.

I'm the OP. These kids are not heading to Wall Street or private equity.

PP. They are ALREADY on Wall Street.

OP’s talking about middle class kids from mediocre colleges going to get MBAs from the same or adjacent mediocre colleges.

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Anonymous wrote:Only M7 degrees are a status symbol.

The M7 schools are Harvard, Stanford, Chicago Booth, Penn Wharton, Northwestern Kellogg, Columbia, and MIT Sloan. The global elite in the world of business.

Graduates of LSE and HEC, among other, would be surprised to find out their business programs were not elite.

Hahaha. First of all, LSE doesn't have a standalone MBA program. Second of all, yes, the M7 schools are considered top of the top, even (or perhaps especially) compared to the European MBA programs. The MBA is an American invention, and even the most elite European MBA programs (think INSEAD, HEC) were directly influenced if not founded by American MBA programs themselves. It would only stand to reason that the topmost of the American MBA programs are indeed seen as "the most elite" in the world.

Please don't leave lazy comments like these if you don't know what you're talking about.

Anonymous wrote:

Anonymous wrote:Only M7 degrees are a status symbol.

The M7 schools are Harvard, Stanford, Chicago Booth, Penn Wharton, Northwestern Kellogg, Columbia, and MIT Sloan. The global elite in the world of business.

Graduates of LSE and HEC, among other, would be surprised to find out their business programs were not elite.

Anonymous wrote:Only M7 degrees are a status symbol.

The M7 schools are Harvard, Stanford, Chicago Booth, Penn Wharton, Northwestern Kellogg, Columbia, and MIT Sloan. The global elite in the world of business.

Only M7 degrees are a status symbol.

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Anonymous wrote:Necessary for most financial institutions but not a status symbol. I’m in investment banking and the route to promotion is BA, then two years work experience, and then MBA.

This, and MBA only counts if from Top 10 business school.

Hmmm. That’s funny. LA and SF i banks and PE firms are filled with Anderson (UCLA business school) grads. I happen to know of several PE funds whose partners are all UVA business school grads.

I'm the OP. These kids are not heading to Wall Street or private equity.

PP. They are ALREADY on Wall Street.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Necessary for most financial institutions but not a status symbol. I’m in investment banking and the route to promotion is BA, then two years work experience, and then MBA.

This, and MBA only counts if from Top 10 business school.

Hmmm. That’s funny. LA and SF i banks and PE firms are filled with Anderson (UCLA business school) grads. I happen to know of several PE funds whose partners are all UVA business school grads.

I'm the OP. These kids are not heading to Wall Street or private equity.

The BA/MBA is about where the gold old BA used to be. Valuable? Sure. If the goal is PE or IB need the school as undergrad. If you are one they like and they offer this program, sure.

As to top 10 MBA programs -- that is wrong. Top X would be correct. X changes based on each form but certainly includes UVA and UCLA and a lot of others. But depends on firm.

Not a big deal OP