Reasons why your MBA degree is worthless
July 23, 2010 by admin · 21 Comments
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You have worked hard through college and graduated with a Masters in Business Administration. Although you could not get into one of the Ivy League colleges, you still decided to get an MBA at your local Bum-fuck State University. Now you are sought after to manage the fortune 500 companies that dominate the world economy. You are the genius that will end world hunger and bring peace to the world.
WRONG! Allow me to point out how and why your MBA degree is worthless in most cases. Unless you went to a university that is well known for their MBA program, you will be flipping burgers!
First of all, it should not come as any surprise to you that your flashy new MBA is not even getting you a job interview with McDonald’s after graduating. You could have done better with whatever you got your Bachelors in without spending extra years and thousands of dollars. Hell even the MBA graduates from top colleges such as Harvard are having trouble landing a job in this economy (unless you are George W. Bush. That guy is hardcore). Who is going to offer you one?
Every university tries to prop up their MBA programs as if they were the best in the world. Falling for their lies was probably your first mistake.
- You didn’t go to an Ivy League: It doesn’t matter that you got an MBA. What does matter is the name that undersigns your certificate. It is a fact that unless you went to a university that has been churning out top material in the past, nobody will take you seriously. Face it. Learn to live with it. The reason you are not getting a job is because nobody wants an MBA graduate from San Francisco State University! (I love you SFSU, no matter how much you suck!)
- You networking connections suck: If you look at the requirements for getting into any of the top universities there is one thing that is common. They all want at least 4-5 years of work experience. It doesn’t matter what your field of study was for undergraduates. They want people with different backgrounds, experiences and knowledge. The reason they require all these things is because they want you to bring connections with you – high ranking connections.
Have you ever looked at the management for any of the top companies you can think of? Why is it that you will only find people in charge who got their MBAs from Harvard, Stanford, Berkeley, or a few other top universities? Its because of networking! You think a senior vice president of Moody’s is going to send their child to anything but one of these colleges? That kid might be in your class and can probably get you a 6-figure job right after graduation. Not many people at your local university can get you the right connections.
- Opportunity cost: This is one of the terms you should have covered in your first semester no matter where you went. If you didn’t, you should probably ask for your money back. For the people who do not know what “opportunity cost” is, its whatever you are giving up in order to get something else.
By deciding to get your MBA from a crappy school you gave up at least two years of your life. In those two years you could have worked with your bachelors degree and probably be getting paid more than you are now. You gave up the time you could have spent with friends and family rather than being glued to your books all day and night. Now look at you, all sad and full of regrets.
Getting a Masters of Business Administration can get you where you want to go. You just have to graduate from a good college. I have heard all the excuses. “I am doing it for the experience, not to get rich.” What kind of bullshit excuse is that? Its a MASTERS OF BUSINESS ADMINISTRATION. The whole point of getting this degree is so you can make more money. You learn how to apply that knowledge to increase PROFITS for whatever company you work for and in turn they fill your pockets with cash!
Live up to your mistakes and learn from them! I hear they’re always hiring at Burger King!
This hits too close to home. I did get an MBA from a local state university and I found out the hard way what everyone was telling me. Its a lesson learned and I hope things will get better in the economy.
Its not always a bad thing to get an MBA from your local state. You just have to keep in mind that the degree is worth only as much as the school you get it from.
Where did you attend school?
What do you think about USC’s MBA school? I just got in and its a part-time program..100k in debt but the payback is supposed to be good once the economy recovers (hopefully in 3 years)
Stay away. It may be a good school, but its not Ivy. You’d be better off applying your energy towards an industry that you are interested in, even if you have to work for free. Better free than paying $100k.
Hi Bobby,
Congratz and did you end up attending USC? I’m in the same boat and it’s a hard decision between attending part-time USC MBA or a local private school Santa Clara University. USC would be $50K more in tuition but I also have to either quit job or find one down there. That’s $100,000 in the hole for the 1st year. And assuming I start working the 2nd and 3rd year in the program. IS the USC network as good and valued equally in the Bay Area (Nor Cal)??
Thanks!
Fun read! And I knew people who went to SFSU too. A crowd of quality fun, but yes the school still sucks. As a graduate of a prestigious college with crappy grades, I’ve left my credential as-is by not getting an MBA and simply let others judge my work and enjoy the nice impression and casual connections my alma mater continues to provide like a welcome plate of hot fries next to the steak. But in fairness, if I were to hire an MBA, I prefer the local Bumfuck State University grads. They’re normal. I can toss them a can of the worst beer on earth, and they won’t flinch for a second. In other words, like-minded chemistry helps in every industry.
Is it ironic that an editor on the Business Amateur.com website says an MBA is worthless. Probably so.
Been there.. Went to a for profit school and it was big mistake. One of my classes we made a playdo utopia town complete with a bank and a school…Yea…Went to the dean and expressed our discontent and he basically told us we could retake the class and could not get out of the program. See they lock you in so when you figure out what is going on you cant get out. They then put you in a group setting with people that have never had pre requisite classes so if you have a worthy bachelors and have had a business class or 10 rather than a degree in basket weaving you get to limp the others along who do not have a clue. What do they care they get their money and ship you out the door like cattle..I telling my kid to go to a trade school and not buy into the BS of college.
Business amateur says it all…
It is truly ignorant to believe someone must get their MBA from an ivy league school to see great benefit from it. Your conclusions are suffering from a statistical condition called omitted variable bias. You are leaving out other variables that allow people to get into top management positions. Are you saying that people who graduate from ivy league schools can often get into really good jobs? No shit, these are very qualified and confident individuals who would of done pretty well with their BS in accounting. Thats how they got into an ivy league school!
If your reading this, the hay is already in the barn. You are stuck with a sub-par GPA and you are wondering if all the studying it will take to “crush” the GMAT will be worth getting into a better school. Consider this, employers do not know the top 100 MBA programs by heart like you do.(and you know you do) However, they do know who the ivy league schools are and would probably love to bring one on board. RULE OF THUMB, if you have a real chance of getting into an ivy league school (680+ GMAT, 3.5+ GPA, Great work experience, Amazing recomendations) then be patient and work hard to get in, it will be worth it no doubt. If you don’t, then don’t bend over backwards trying to get into a tier 2 or 3 school. That’s where things get really fuzzy and no one really knows what the difference between the two are. Just steer clear of all the well-known online MBA programs like Phoenix, Colorado Tech, Keller, etc. and you will be fine. You will find that the farther you move along in your career, the less your academic history will matter. When you get out of school, you will be standing on your MBA. This is where ivy league degrees rule. Ten years later, employers will breeze over it anxious to see how large of a budget you have experience managing. Remember, a good degree is a finished degree, so go get that MBA and get your ass to work! Keep your powder dry and your eyes on the target. Dismissed!
While the criticism and hopelessness of your piece is thought provoking, I’d be curious to know what you think someone just now graduating with an MBA should do, now that they’ve made this “calamitous mistake.” This post is mostly petty bashing without some sort of recommendation…
Most posts are just petty bashing. He’s probably upset to find out the MBA he took out so many loans to get (in hopes of improving his station in life) is not paying off. That’s been my experience. But then I don’t start discussion threads on the internet to rant about it. I just chime in where I find the opportunity! LOL
The supposed opportunity cost for an MBA only counts if you haven’t wasted your time getting a worthless undergraduate degree. Most people earn worthless undergradute degrees because– 1) they aren’t smart enough to get into highly selective colleges– 2) they can’t afford highly selective colleges.
So the opportunity cost is really that you were not smart and rich to begin with. This can be solved by a large government safety net for people of average intelligence and average income. I highly recommend it.
Adios!
George DeMarse
The Sage of Wake Forest
If, by your signature, you are suggesting that Wake is a highly selective program, you are sadly mistaken. I’ll agree that an MBA from a “highly selective” school means more than the average, locally obtained MBA; however, that said, an above average person, with regards to intelligence will benefit from any education, self taught or paid for.
If you do not attend a top tier MBA program the benefit you receive will be through direct application of what you have learned in your career.
Zach–
I’m not suggesting anything about Wake Forest University, highly selective or otherwise. I’m refering to location. Besides, Wake Forest University moved to Winston Salem years ago.
George DeMarse
The Sage of Wake Forest
What a dick. Probably a Harvard asswipe
I had an undergrad GPA of 3.95 and a GNAT of 690. I choose a state university, because #1 I can work making 6 figures and get ore paid tuition. Calc, The ROI on that compared to an run of the mil Ivh Leaguer who has spend 20 year studying for the GNAT and leaves his job to take out 150-200K in lone.
Free > MBA, whee the ROI iw la4e
i have graduated from indian state university n still jobless…………….
Burger King might not hire you. They might think you are overqualified with an MBA.
A lot of companies value work experience FIRST, then education second. MBAs are quickly becoming another box that simply needs to be checked off on a resume. That said state university MBAs can be valuable if you plan on working locally. They hold little weight if you want the opportunity to move around the country. The best advice: speak to a recruiter of a company you are interested in and see how they perceive your school.