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Are MBAs worth it?

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  • Are MBAs worth it?

    I have a made up opinion on this, which is: considering the cost of MBAs today (and also their requirements), it is no longer a good investment nor option. Money-wise I would prefer to invest that in a buying a franchise or some other business venture. Education-wise, I would prefer getting some legal training, which is far more prized in the corporate world as there is a shortage of people in contract drafting (who also happen to not just be unassuming lawyers who have no idea about business and its technical aspects)

  • #2
    Re: Are MBAs worth it?

    Over here, an MBA is worth the cost and effort. In fact, my boss had suggested to me last year that I take up MBA studies for my career. What? I was just 8 years away from retirement at that time. But he said that having an MBA has many advantages not only in the career but also after retirement since you are qualified to be a college instructor. But I agree that taking up MBA studies would take a lot of time and expenses. Those I don't have right now since I am deeply embedded in my home affairs, enjoying life in traveling and getting in touch with my circle. When I get to study, all those social activities will have to be on the background.

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    • #3
      Re: Are MBAs worth it?

      This is not a yes or no question. It really depends on your plan for your career and where you live in the world. I suppose in New Jersey, or in Sydney where I'm based for that matter, it would not really make much of a deference with most career opportunities. In other cultures, unfortunately, you can't get a decent job without at least a bachelor's degree. Of course it's a different story if you we're planning to work as upper management for a Fortune 500 company. Let me just say, you don't need one to be successful, and in a perfect world, you really should not need one to be successful.

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      • #4
        Re: Are MBAs worth it?

        Originally posted by Corzhens View Post
        Over here, an MBA is worth the cost and effort. In fact, my boss had suggested to me last year that I take up MBA studies for my career. What? I was just 8 years away from retirement at that time. But he said that having an MBA has many advantages not only in the career but also after retirement since you are qualified to be a college instructor. But I agree that taking up MBA studies would take a lot of time and expenses. Those I don't have right now since I am deeply embedded in my home affairs, enjoying life in traveling and getting in touch with my circle. When I get to study, all those social activities will have to be on the background.
        Consulting or University work depends a lot on experience and track-record. I believe those are more valuable than an MBA.

        Originally posted by miguel View Post
        This is not a yes or no question. It really depends on your plan for your career and where you live in the world. I suppose in New Jersey, or in Sydney where I'm based for that matter, it would not really make much of a deference with most career opportunities. In other cultures, unfortunately, you can't get a decent job without at least a bachelor's degree. Of course it's a different story if you we're planning to work as upper management for a Fortune 500 company. Let me just say, you don't need one to be successful, and in a perfect world, you really should not need one to be successful.
        It especially depends on cost given that we're in very competitive times, having a diploma is no longer enough. The only case where I see it as justifiable if your company tells you to do one as a condition to move up (and pay for it). Im not in the MBA selling industry but I suspect their golden days are long gone.

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        • #5
          Re: Are MBAs worth it?

          Actually, MBAs are worth a lot less than in the past. For one thing, everyone is offering one and that situation is causing employers to only seek MBAs from the best schools. On top of that, too many people are seeking an MBA and the job market cannot handle it. Anyhow, I'm not discouraging anyone from seeking an MBA. I'm only saying that getting a job with an MBA is tougher than before so one should weigh his/her options.

          Does anyone know if a doctorate in Business is a huge advantage?

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          • #6
            Re: Are MBAs worth it?

            There's an argument to suggest that there aren't many qualifications now that are worth what they used to be. As a business owner in the past myself, the actual qualification that a person had on their CV was the last thing I looked at, and while if it was close between somebody with a degree and a person without, it might have swung the job in their favour, but a lot of the time it was other qualities i looked for and not the fact that they had spent 5 years at a university.

            I never went to university (or even college) and while I'm fine with people that have, it doesn't mean a great deal to me as I also know what hard work, loyalty and dedication can also mean to a business, and that's how I've worked my way up.

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            • #7
              Re: Are MBAs worth it?

              I also do think MBA programs are too expensive especially in many of the western schools. I would rather take an MBA program in a local school so long I get the basic knowledge about running a business. MBA is still worth obtaining but at a moderate fees I would think. If I have more money, it will be a wiser conception to invest in other business ventures than spend all on the program.

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              • #8
                Re: Are MBAs worth it?

                Getting an MBA is an investment and any investment is a gamble. After your hardship in the studies and the thesis, you are not sure if you can land a good job. But if you are still young, it is generally a good investment. I had plans of getting an MBA when I was younger but the time constraints turned me off. Besides, I was already earning good money as a computer programmer in a bank.

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                • #9
                  Re: Are MBAs worth it?

                  I am in between in what concerns the MBA, I would put a big focus on the quality of the contents of the MBA because some of them are not really worth our time and money. Sure, the are great for our CV and for business contacts, but sometimes not much more than that.

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                  • #10
                    Re: Are MBAs worth it?

                    MBA is certainly a good option. While there are many technically qualified individuals available worldwide, there aren't many qualified management graduates to handle them. An MBA will bolster you with the required managerial skills and get you prepared as a leader. You will have the authority to lead a group of highly qualified individuals.

                    An important thing to note is that an MBA should be from a top tier institution. There are many institutes offering a full time MBA program but you only need to aim for the best in order to launch a successful career.

                    In short, if you are aiming for a managerial role, an MBA is certainly beneficial.

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                    • #11
                      Re: Are MBAs worth it?

                      While I can see your point about MBA's being beneficial, none of my managers have them as I prefer to hire from within and let people work their way up to that level. In the past while I think a lot of businesses will look at qualifications when hiring an employee, these days with the amount of people that are out of work and the number of applicants you get for a new vacancy, other factors are considered as well and instead of what they have achieved academically.

                      Education is never a waste of time, but the days of having an MBA guaranteeing you a job or at least an interview are long over.

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                      • #12
                        Re: Are MBAs worth it?

                        It's a competitive world out there and if you want to make the most of your career, an MBA is certainly an asset, at least in the hiring stage. I've held managerial positions in different companies with only my professional license and job experiences to back me up but the lack of MBA has kept me away from advancing to executive positions even in medium sized companies.

                        But then again, a lot would depend on how we measure success. For instance, my brother-in-law is working abroad and earns more than double the amount of my salary and higher than the salary and benefits of executives in the medium sized company I am connected with. He isn't even a college graduate! So yes, money-wise, he is more successful than our executives who got their MBAs from top private universities in my country. Position-wise, he's only a production supervisor who happened to be employed by a generous British-owned company in the Middle East.

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                        • #13
                          Re: Are MBAs worth it?

                          MBA is like presenting you like a branded product. As you know branded products are more in demand and we are ready to pay more because of brand image. So I think an investment in MBA does worth it over long term. In any company when there is a case of promotion the management will consider experience and educational qualification as the prime qualities. If you are equipped with a good qualification luck will be in your favor.

                          Also if you are looking for your initial job, a MBA degree will help you get one without much effort. Even if your initial salary is low you can build up on that and with experience you can aim for higher prospects in your career. In our country some companies boast of their manpower strength in particular educational streams.

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                          • #14
                            Re: Are MBAs worth it?

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