Business School is a Waste of Time and Money
I have ranted plenty about MBA grads and MBA programs. Just recently, I learned of someone who is trying to do something about the MBA problem. Josh Kaufman, founder of PersonalMBA.com, puts it straight out there: Business school is a waste of time and money.
I know some of you will assert that you needed that degree to get your job. That may be true, but it has little to do with the value of the education you received. I like this quote from Kaufman:
If you want to work in an industry that uses the MBA as a screen, you are effectively buying yourself a $150,000 interview. If you want to do anything else in business, if you want to start your own company, get a job in another field, you don’t have to have an MBA. It’s better if you don’t because of the debt.
Like law schools, MBA programs are cash-cows for the colleges that run them. Of course they promote the value of what they provide, to keep those tuition dollars rolling in. There may be a few programs that have meaningful ROI for those who attend, but not many. If you have the talent to get in and complete one of those elite programs, learn on your own and start your own business with the money you saved.
Save your money and the b-school blues. Learn how to build or sell something instead.