Law school has ended up being a game of diminishing returns on the tuition investment. New numbers recommended that an MBA business degree has followed suit in recent years. It's only worth your money if you get the amount from a top-tier business university.
No person needs an MBA anymore
According to the Wall Street Journal, the early 1990s saw the rise of many part-time and executive MBA programs at lower-ranked schools, as well as online degrees. The result is that the amount of MBA degree holders in society has gone up, but the number of jobs has not kept pace.
Georgetown University McDonough School of Business professor Dr. Brooks Holtom noted that "An M.B.A. is a club that is now not exclusive. You should not assume that this less exclusive club is going to confer the same benefits."
Drop in MBA salaries
The result of this is proving to be some very costly stories of woe, particularly for those with MBAs from schools that aren't top-tier. The numbers bear this out. Average pay for graduates with minimal experience (three years or less) was $53,900 in 2012, according to data from PayScale.com. That's 4.6 percent lower than it was in 2008, and at 186 of the schools PayScale examined, pay dropped a whopping 62 percent over that time span.
It seems that now top-tier businesses only recruit from very exceptional schools to keep the exclusivity of the degree. A sluggish economy does not help since there are fewer jobs and more MBAs just sitting out there. On top of that, business schools are giving false hope to students who believe they can get much better jobs with their MBAs.
Universities making cash
Universities are making a ton of cash right now on business and law. There are a ridiculous amount of law students and business student's right, which is also really bad news for those students. It is a better idea to evaluate the career industry before you choose to get debt to get another degree, and the average salary is not worth it the majority of the time. Unless you get into a top tier university, it is not worth it.
No person needs an MBA anymore
According to the Wall Street Journal, the early 1990s saw the rise of many part-time and executive MBA programs at lower-ranked schools, as well as online degrees. The result is that the amount of MBA degree holders in society has gone up, but the number of jobs has not kept pace.
Georgetown University McDonough School of Business professor Dr. Brooks Holtom noted that "An M.B.A. is a club that is now not exclusive. You should not assume that this less exclusive club is going to confer the same benefits."
Drop in MBA salaries
The result of this is proving to be some very costly stories of woe, particularly for those with MBAs from schools that aren't top-tier. The numbers bear this out. Average pay for graduates with minimal experience (three years or less) was $53,900 in 2012, according to data from PayScale.com. That's 4.6 percent lower than it was in 2008, and at 186 of the schools PayScale examined, pay dropped a whopping 62 percent over that time span.
It seems that now top-tier businesses only recruit from very exceptional schools to keep the exclusivity of the degree. A sluggish economy does not help since there are fewer jobs and more MBAs just sitting out there. On top of that, business schools are giving false hope to students who believe they can get much better jobs with their MBAs.
Universities making cash
Universities are making a ton of cash right now on business and law. There are a ridiculous amount of law students and business student's right, which is also really bad news for those students. It is a better idea to evaluate the career industry before you choose to get debt to get another degree, and the average salary is not worth it the majority of the time. Unless you get into a top tier university, it is not worth it.
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