Anonymous wrote:“ many people think that getting *any* MBA is a golden ticket to investment banking, hedge funds, private equity, and untold riches.“

It’s about the same number of people who think marrying Britney Spears is a good idea.

Back here on planet Earth, people get the no-name MBAs because they hope it will give them a boost in getting a promotion. Or it will make a some HR drone look at their resume for more than 7 seconds. Nobody gets handed their Southwest Arkansas University MBA diploma & expects Warren Buffett to be waiting for them when they walk off the stage.

That's where I disagree. I know a few 25-year-old guys (e.g., neighbor's kid; friends of my son) who completed their MBAs from unremarkable programs and are bewildered as to why they can't get an interview at Morgan Stanley. Ameriprise back office, sure.

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Anonymous wrote:The entire premise of this post is kind of laughable. The MBA is becoming increasingly irrelevant and in fact applications to even the top programs (Harvard, Wharton, etc.) are down by over 30%+ compared to 5 years ago.

If you have a liberal arts background and say work for a non-profit, then by all means an MBA can help you with a switch to a new industry and a business role. But most people don't need one...and judging by overall demand...are not seeking one.

Many are using employee tuition assistance to pay for these degrees. If it's free or near free, why wouldn't you take advantage? Are you also aware a lot of industries require a master's for senior roles and the big bumps in pay that come with those positions? Only a few of the young adults I know with MBA made career pivots with it, most used it to help them keep getting promoted to more senior roles.

Most of the employer assistance degrees are not full-time MBA programs...I don't disagree if you want to go to a night program or an executive program for free. There are many more industries and jobs that could care less about an MBA if you have shown yourself qualified. If you want to work for a company or in the government that gives you a bump because you received an advanced degree (hence, why there are so many scandals about degrees by mail)...then have at it.

“ many people think that getting *any* MBA is a golden ticket to investment banking, hedge funds, private equity, and untold riches.“

It’s about the same number of people who think marrying Britney Spears is a good idea.

Back here on planet Earth, people get the no-name MBAs because they hope it will give them a boost in getting a promotion. Or it will make a some HR drone look at their resume for more than 7 seconds. Nobody gets handed their Southwest Arkansas University MBA diploma & expects Warren Buffett to be waiting for them when they walk off the stage.

Anonymous wrote:MBA is not an advanced degree. PhD, MD, and JD are.

A JD is not a doctorate. In other countries, the equivalent degree is called a bachelor of law, enrolling fresh high school graduates. After the JD, you can do a masters and Ph.D. in law.

The M.B.A. has evolved. In the early 1980's, the personal computer, spreadsheets, and statistics and optimization applications became available. You could suddenly do accounting on spreadsheets, calculate financial risk, and schedule manufacturing jobs. Ph.D.'s in business were scare, and the M.B.A. was the only way to learn finance. At one time, it was a selective degree where many students had engineering degrees and work experience.

M.B.A. students got jobs, and programs expanded. It was quite profitable for deans to teach sections of 60 students. Nowadays, everybody offers an M.B.A. Many employers will pay for a technical degree, but not an M.B.A., because M.B.A. graduates can leave for a competitor. The executive M.B.A. is watered down technically. But employers don't expect a 35-year-old to be a math whiz.

Much of the old M.B.A. program has filtered into the undergrad business curriculum. But those programs are usually large, unselective, and unfocused. Many of those graduates will get an M.B.A. anyway. A two-year full-time degree offers a lot of time to explore different areas. If you know what you want to do, a one-year specialty masters in finance, accounting, or information technology will be faster.

A business school is like a gym. Some people lift weights or do intense classes. Some relax in the pool or sauna. And some socialize at the juice bar. You don't expect the same clientele at Crossfit and Planet Fitness. And you don't expect 28-year-old full-time Stanford grads to have the same curriculum as older part-time executive students or fresh 23-year-olds from public colleges.

Anonymous wrote:Ok, one more time: not everyone gives a crap about Goldman. Millions of people have wonderful lives without Goldman. See?

Of course. However, many people think that getting *any* MBA is a golden ticket to investment banking, hedge funds, private equity, and untold riches. It's not. Where you get that MBA very much matters if those things are your end goal.

Anonymous wrote:The entire premise of this post is kind of laughable. The MBA is becoming increasingly irrelevant and in fact applications to even the top programs (Harvard, Wharton, etc.) are down by over 30%+ compared to 5 years ago.

If you have a liberal arts background and say work for a non-profit, then by all means an MBA can help you with a switch to a new industry and a business role. But most people don't need one...and judging by overall demand...are not seeking one.

A healthy economy with lots of high paying jobs often leads to a downturn in applications to MBA programs.

Anonymous wrote:The entire premise of this post is kind of laughable. The MBA is becoming increasingly irrelevant and in fact applications to even the top programs (Harvard, Wharton, etc.) are down by over 30%+ compared to 5 years ago.

If you have a liberal arts background and say work for a non-profit, then by all means an MBA can help you with a switch to a new industry and a business role. But most people don't need one...and judging by overall demand...are not seeking one.

Many are using employee tuition assistance to pay for these degrees. If it's free or near free, why wouldn't you take advantage? Are you also aware a lot of industries require a master's for senior roles and the big bumps in pay that come with those positions? Only a few of the young adults I know with MBA made career pivots with it, most used it to help them keep getting promoted to more senior roles.

The entire premise of this post is kind of laughable. The MBA is becoming increasingly irrelevant and in fact applications to even the top programs (Harvard, Wharton, etc.) are down by over 30%+ compared to 5 years ago.

If you have a liberal arts background and say work for a non-profit, then by all means an MBA can help you with a switch to a new industry and a business role. But most people don't need one...and judging by overall demand...are not seeking one.

Ok, one more time: not everyone gives a crap about Goldman. Millions of people have wonderful lives without Goldman. See?

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Anonymous wrote:Ewww not sure I would admit my kid had an MBA.

You are a ninny. I am a boomer. Everyone, I went to college with earned a JD, MD, MBA or some combination thereof. We were all educated enough to value/respect each other's choices. Are you an uneducated MAGA or southern?

It matters WHERE you got an MBA from not that you got one.

You people are clearly so dense. And a DC centric crowd that works in government and not in finance, PE, asset management, or banking for commercial or money, center banks.

+1. That Rochester MBA is going to go right into the discard pile at Goldman.

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Anonymous wrote:Ewww not sure I would admit my kid had an MBA.

You are a ninny. I am a boomer. Everyone, I went to college with earned a JD, MD, MBA or some combination thereof. We were all educated enough to value/respect each other's choices. Are you an uneducated MAGA or southern?

It matters WHERE you got an MBA from not that you got one.

You people are clearly so dense. And a DC centric crowd that works in government and not in finance, PE, asset management, or banking for commercial or money, center banks.

Anonymous wrote:Chicago schools at the top of the list. U Chicago (Booth) and Northwestern (Kellogg):

https://www.usnews.com/best-graduate-schools/top-business-schools/mba-rankings

This. If you know, you know.

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Anonymous wrote:Venture capital firms are not hiring BAs they’re hiring MBAs from Stanford Harvard and Wharton earning about $300,000 starting salary. Consulting firms, financial services all paying good money and bonuses. I’m not sure why people are sneering at MBAs

Because a lot of the parents boasting about their kids' MBAs think that their degree from Rochester or UMD or Fordham is on par with a Harvard MBA.

(I have an MBA from one of the first three schools I mentioned.)

NP here. What’s wrong with an MBA from
Rochester/UMD/Fordham? Give me a break, it’s 2023, I don’t care if someone went to HBS. Those grads don’t have a lock on being smart, successful and worth of praise for their accomplishment.

There are great jobs waiting for MBA graduates. But the top paying jobs are still only recruiting from Stanford, Harvard, Wharton and maybe a few more. Just like top law firms starting with similar high salaries are only recruiting top ranked from top law schools. That doesn’t mean people graduating from lower ranked law schools don’t have successful careers.

An unfair statement as Chicago, Northwestern, Columbia, MIT, & NYU finance all place very well year-after-year. Dartmouth-Tuck and Michigan-Ross also place well.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Venture capital firms are not hiring BAs they’re hiring MBAs from Stanford Harvard and Wharton earning about $300,000 starting salary. Consulting firms, financial services all paying good money and bonuses. I’m not sure why people are sneering at MBAs

Because a lot of the parents boasting about their kids' MBAs think that their degree from Rochester or UMD or Fordham is on par with a Harvard MBA.

(I have an MBA from one of the first three schools I mentioned.)

NP here. What’s wrong with an MBA from
Rochester/UMD/Fordham? Give me a break, it’s 2023, I don’t care if someone went to HBS. Those grads don’t have a lock on being smart, successful and worth of praise for their accomplishment.

There are great jobs waiting for MBA graduates. But the top paying jobs are still only recruiting from Stanford, Harvard, Wharton and maybe a few more. Just like top law firms starting with similar high salaries are only recruiting top ranked from top law schools. That doesn’t mean people graduating from lower ranked law schools don’t have successful careers.

I think the skills learned from an MBA (from anywhere) really help entrepreneurs and also help with your personal investment plan.