A Smart Investor Would Skip the M.B.A.
"Why spend six figures on a business degree? Students would do better to train and network on their own."
In this article, Mr. Stephens- the author of "Hacking Your Education," suggests that students should skip the M.B.A. Instead of spending $174,400 at Harvard Business School, he thinks students should find and build their network because it will be more valuable to them than an M.B.A.
"Instead of relying on business school to succeed, deliberately practice the skills necessary to become a master in your chosen field. Build a network that supports your professional aspirations. Work on projects that show you can have an impact in the real world, dealing with practical problems." What do you think? Do you agree with his suggestion and his article? If you were granted $174.400, what would you do? Will you choose to be a smart investor or an M.B.A student?
If I was offered $174,000 or the opportunity to go to Harvard for an M.B.A. (assuming this is the field I wanted to go into), it would depend on the situation. If I had a decent job offer to go along with the $174,000 I would probably go that route. If not, however, I think I would have a hard time turning down Harvard. Perhaps I should look into reading "Hacking your Education," but at the moment a Harvard M.B.A. still seems like a great investment.
ReplyDeleteAlthough at this point in my life it seems like getting an M.B.A. is the right thing to do after graduating, this also seems like a much better option. A lot of times after doing an internship for a company can lead to a job in your future so if this was possible for me I definitely think I would go that route.
ReplyDeleteThe problem with that statement is that not everyone is completely self-motivated or has the necessary tools to "deliberately practice the skills necessary to become a master in your chosen field." This idea is great in theory, but I'm not sure it is for everyone.
ReplyDeleteTo quantify the benefits of higher education, it is extremely important that one evaluates their chosen major and its merit. Too many students today stumble into college with no idea of what they want to do and no idea of the means that it will take to achieve it. More and more students today believe that a college education is their launching pad for fulfilling their ‘American dream’. But in the face of this newfound evidence, it really depends on the major. Many careers are perfectly suited to an Associate’s degree, and would considerably minimize consequent debts incurred as well. For the student who wants to be an Air Traffic Controller, or a Dental Hygienist, I suggest that they wholeheartedly appraise the value of choosing a four year degree over a two year one. These professions stand to make up to $113,547 and $70,408 respectfully with community college degrees alone.
ReplyDeleteSo my advice would be, look into your chosen major, and do the numbers. Look at median salaries for newly grads, average industry figures on the whole, and potential for advancement in the years after. Bear in mind the opportunity cost of going with your ‘plan A’ over ‘plan B’. While there is certainly an intrinsic value in college, there are plenty of ways to more properly quantify its real worth—all by doing the numbers accordingly.
Unfortunately it's getting harder and harder for recent college graduates to find a job. In teaching for example, teachers with a Master's degree have a harder time finding a job because they are in a higher pay bracket due to their degree, and schools can't afford to hire them. This is completely contradictory of what most people would think - getting a higher degree will give you a better chance to find a job. With that being said, I agree that it would be better to build your network than getting an MBA, especially with how hard it is to find a job anyways.
ReplyDeleteI agree with Mark. Not everyone can push themselves or know how to become a master in their trade. You go to college to learn and become well rounded. Many students do not know what they want to do and if they do, many kids take classes in those fields and end up completely changing their mind. I think some people arent made for college and can still be successful but not everyone can do that, it depends on the person.
ReplyDeleteIt depends on the situation. Its sad how the system works today. People are more likely to get a better job if they have better education but not based on the merits. A well qualified will always manage to get a job, however others can get in the same level with the help of connection. Is it fair? I do not know because people put time and effort in networking.
ReplyDeleteIf I am given a choice of accepting money or going to graduate school, I will definitely go for higher education because networking can be done after the completion of grad school as well.