[Anonymous]

In case you’re interested, NASBA posted a link to this article on their Facebook page….

https://www.forbes.com/sites/ronaldyeaple/2012/05/30/is-the-mba-obsolete/

[Anonymous]

Yes and no.

With this piss poor economy, people can barely afford getting a BA/BS now, let alone tagging on MORE DEBT from grad school.

Yes they are starting become more “commonplace” but like someone mentioned,it depends on your career path. Also, you have to think about cost/returns. To me having a better chance at getting a job is worth the 70K in debt I will be after getting my MAcc. Still on the fence about getting my MBA accounting since I'd to become a CFO one day,a career goal of mine but this may change after i attain my BA in Accounting.

For me personally, I do NOT think a MBA is all that worth the 30K of student loans.

I have to keep in mind that I would like to buy a house one day, purchase a decent pre owned vehicle, have a savings….blah blah blah blah blah. 70K(student loans) is like buying a nice starter home! Thank God I am getting married soon and will have the extra supplemental income from my fiance. I already calculated that my loans will be about 1k.

Its hard to juggle is getting into a shitload of debt for a job that may pay b/n 50-70k is worth it?

Most people will have the typical bills: Rent/Mortgage, utilities, auto insurance, savings, grocery and NOW STUDENT LOANS! 4K/mo.income as an individual is NOT going to cut it let alone for a family. Talk about living the “American Dream”. On top of this I have to get my FICO up to 800 so I can get a decent loan on a house. No wonder every time I watch House Hunters on HGTV, the couples buying a house are typically in their late 30s. Our parents were able to buy homes in their mid 20s! I told my fiance that I am not going to buy a house until Im 35. lol

Thank you congress for giving a year of relief!(rolls eyes) Its not really helpful for those who are still in school though.

All Im saying is After I get my MAcc and CPA license, I “may” go for another designation (BIG) MAYBE lol but I more than likely will be ending my ‘higher institution” education for once and for all!

[Anonymous]

Do not get an MBA unless your employer will pay for it.

The stats on salary pre and post MBA seem to be different for all schools.

Imagine if each NBA team graded their players based on a 30 different methods. And then you started comparing each player in the NBA against each other. You have no idea who is the leading scorer or rebounder. All games are played privately. You have no idea who the leading scorer or rebound-er is in the NBA. All you have is grades. In theory, Kobe Bryant would be ranked in the top 30, but you might see a bad player ranked very high.

This is how I feel when I try to decipher MBA stats. Who knows what is true? The average Duke MBA has a starting salary of 97k? Really? Or is that, of the ones who reported. Is that taking into account a doctor, who was making 400k, went to school at night and continued to make 400k after the fact? I think most MBA grads making 35 before are making 35 now. So if you apply this equation: so 97=(400+35x)/x+1, x=4.88. So if you have 6 get an MBA and one earns 400k, the other 5 would earn about 35k, and that averages to 95.8k.

Other schools, might just say “Our average based on students reporting” So those Starbucks Baristas, please don't report anything to us.

Bottom line, MBA's could increase their value with an exit exam. I know some MBA's who are really smart and others who are complete tools. An exit exam could sort these kids out. Or maybe each school should be forced to disclose the lowest GMAT score accepted in the past 10 years. If the number is 380, that program is worthless. My school will only allow 500+. A few good kids with great undergrad GPAs with 490's were told to retest or no admittance.

The MBA's need to step it up or see their degree de-value.

[jeff]

A GMAT score is not an indicator of intelligence.

It's an indicator of ability to take a standardized test.

MBA program XYZ who accepted a 380 because the person killed it on the verbal and reading but sucked at math and science … well … How many MBA programs delve into complex algebra or trig on a regular basis?

I wouldn't see that as an indictment on the program.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[FearTheBeard]

I disagree, Jeff. First of all, there's no science on the GMAT. Second, the level of math tested on the GMAT is equivalent to the level of math on the SAT. Are you saying someone should get an MBA without being able to do 10th/11th grade math? This math isn't “complex algebra”. Plus, a lot of top MBA programs require a solid understanding of statistics and calculus because they focus on quantitave finance. All my accounting professors told me the best way to predict a GMAT score is to divide your SAT score (math + critical reading) by 2. Using that logic, a 380 on the GMAT is equivalent to about 760 on the SAT. You wouldn't get into any college with that score. Football players on scholarships can usually crack 1000 on the SAT.

[jeff]

There's no science? lol … I thought there was … I took it 10 years ago 🙂

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[FearTheBeard]

I got this off the GMAT Wikipedia page: “The quantitative section of the GMAT…require knowledge of arithmetic, elementary algebra and commonly known concepts of geometry.”

[Anonymous]

If you get an MBA go to a real program, not some crap program. My company won't reimburse you for your MBA if you went to an online school, which I fully support! Call me a snob if you wish. That kind of stuff frustrates me. It is like people who went to a technical college and got a 2 year degree and right after graduation call themselve accountants. Uh…NO! Get some experience or a BA sucker….

I'm feisty today!

[Author]

Replies