Closely held beliefs about the value of specific college degrees have been questioned by some compelling figures. Research indicates that the median salary of ABA law university graduates a year after graduation is $45,000, with a typical debt of $150,000. So from a debt-value standpoint, law college could possibly be out. Now reports suggest that the worth of a business college degree - a Masters of Business Administration (MBA) - may also be very questionable.
MBAs no longer unique
There has been an enormous increase in the number of people with MBAs despite the fact that there has not been an increase in jobs. The Wall Street Journal reports that this increase started in the early 1990s when many part-time and executive MBA programs started to be offered online and at lower-ranked schools.
At the Georgetown University McDonough School of Business, a professor dr. Brooks Holtom pointed out the issue. He said: "An M.B.A. is a club that is now not distinctive. You need to not assume that this less exclusive club is going to confer the same benefits."
Average MBA salaries circling the drain
Between 2008 and 2012, there was a 4.6 percent decrease in the typical minimal pay for graduates with MBAs to $53,900. The typical total pay dropped 62 percent during that time at 186 PayScale schools. This just goes to show that people getting MBAs is really just hurting others who have the degree.
The issue is that students have false hopes when going in to get their MBA. There are too many students with the degree and not enough exclusivity. With the sluggish economy creating fewer jobs, it is even worse. It seems people want experience over diplomas.
Intense MBA expansion
Business and law are cash cows for universities, but not necessarily for graduates. The prevailing advice that MBA students should heed is that unless they can gain admission to a top-10 business college, they should enter a different field. The amount of debt relative to the average salary is debatably not worth the trouble, otherwise. Learn to assess the career market before you commit to bone-crushing debt.
MBAs no longer unique
There has been an enormous increase in the number of people with MBAs despite the fact that there has not been an increase in jobs. The Wall Street Journal reports that this increase started in the early 1990s when many part-time and executive MBA programs started to be offered online and at lower-ranked schools.
At the Georgetown University McDonough School of Business, a professor dr. Brooks Holtom pointed out the issue. He said: "An M.B.A. is a club that is now not distinctive. You need to not assume that this less exclusive club is going to confer the same benefits."
Average MBA salaries circling the drain
Between 2008 and 2012, there was a 4.6 percent decrease in the typical minimal pay for graduates with MBAs to $53,900. The typical total pay dropped 62 percent during that time at 186 PayScale schools. This just goes to show that people getting MBAs is really just hurting others who have the degree.
The issue is that students have false hopes when going in to get their MBA. There are too many students with the degree and not enough exclusivity. With the sluggish economy creating fewer jobs, it is even worse. It seems people want experience over diplomas.
Intense MBA expansion
Business and law are cash cows for universities, but not necessarily for graduates. The prevailing advice that MBA students should heed is that unless they can gain admission to a top-10 business college, they should enter a different field. The amount of debt relative to the average salary is debatably not worth the trouble, otherwise. Learn to assess the career market before you commit to bone-crushing debt.
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