Tuesday, December 22, 2009, 2:13AM ET - U.S. Markets open in 7 hours and 17 minutes.
Congratulations on getting into business school! Enrollments are up as more people look for ways to sit out the murky job market, so getting in is no mean feat. One question: Will you actually learn anything getting that precious degree?
An article in the Times of London says you will, but argues it might not be anything good. The author of the article is Philip Delves Broughton—a Harvard MBA himself—who traces nearly every financial scandal of the last few decades back to his alma mater, which graduates a select 900 students a year. He quips that perhaps the degree should stand for “Masters of the Business Apocalypse.” The problem seems to be an infatuation with the latest business fad rather than a focus on the nuts, bolts, and psychology of running a business.
Paul Kedrosky, blogger and strategist, joined me from San Diego to discuss whether the skepticism that technology has long had toward MBAs will catch on in financial circles as well. And for those of you forking out $50,000 for a degree, we discuss what jobs will await on the other side.
And they pay McKinsey over $110K average http://www.salarylist.com/all-real-jobs-salary-at-mckinsey-company-inc-united-states.htm Goldman $90K http://www.salarylist.com/all-real-jobs-salary-at-goldman-sachs-co.htm All those are MBA big recruiters
Maybe they should require a credit hour in ethics... or would they just turn that into a credit ethics default swap?
These young MBA new comers will be taught the tricks by the older pro's who will teach them how to make the corporate good ol' boys by legally doing an illegal gain by insider methods.
NO WAY I'd hire a spoiled rich elitest with a sense of entilement. NO WAY. And please, stop voting them into office, too.
Gordon Gekko was a City College grad.
Business Schools focus on individual accomplishments (win-lose), profit & loss, hero worship and just building up egos; instead the focus should be on team work, collective mutual benefits (win-win), communication, ethics, morals, project/process management, vision, strategic thinking, foresight, etc. MBAs can't/won't succeed in technology (Silicon Valley) industries because it is all about creativity, solving problems that are ill defined or don't even exist or may not even make money, not at least until the business/organization reaches a certain critical size/mass. Most of the best/well managed companies are run by people, who don't have MBA's.
You can learn more about running a business from an online associate's degree in accounting. Their program is about hanging in there, putting up with crap long enough to graduate. You can't fail, you have to quit on your own. Not much of a program.
Thanks Sarah and Paul for saying the needy. MBA is a big plus, but is also very overrated, even in silicon valley tech organizations, and I appreciate the points made about what examples to use in an MBA program (most professors admit that the hardest part is choosing the textbook). Note- Carol doesn't have an MBA, but I wouldn't be surprised if Henry Bloget has a 'Harvard MBA'... either that or an masters of bulls**t administration.
Scott Cook, Meg Whitman, Andy Jassy, Jason Kilar, and a lot of upper management and investors at Google, Facebook, Microsoft and promising startups are HBS grads. With over 50k alumni in powerful positions you are going to have a few bad people and a lot of good people in bad situations.
I have to say that this looks like a good point. I have a BS in Computer Science and I was forced to take a few business courses. the teacher was all about look that the chart and see what happened. Ok now look at history what caused that. Now what is happening right now to make that happen again or in reverse. IE Wal-Mart lost stock price when the economy was easier because people could go to "nicer" places. When the economy goes bad what will happen to there stock and profits(this was a few years ago). The point is he got fired for it.
How can Citi report a profit when they owe us taxpayers billions?
Actually, many of the students MBA program atrracts are already the so-called BS types. MBA by itself does not create idiots - it makes things for some worse, and improves quite a few too.
The government already said they will do "anything" to turn things around. I read that as, they would stop at nothing to turn things around. Lie, cheat, falsify data, fake Q's and 10k's, steal, kill, anything. AND YET......... you aren't buying. Is that rational? YOUR theory, 'as I read it', tells you there will be a rally someday. I think people who don't buy stocks SOMETIME in 2009 will miss the boat by 2010. Buy high, sell low??? Hmmmm?
I noticed a few cry-baby comments on the run-up today. For once recently, the shorts lost control and took a beating. Suck it up and quit whinning.
There are a lot of brilliant MBAs that have done a lot of very good things and there are a lot of brilliant non-MBAs that have done a lot of very good things. The only difference is that percentage of MBAs that go on to do great things is much higher than the percentage of non-MBAs that go on to do great things. Some MBAs have made mistakes and some are crooks, but it doesn't speak to the value of the degree. There are a lot of crooks that aren't MBAs....whether or not you are a crook is unrelated to your level (or type) of education....this whole conversation is meaningless. Finally, it doesn't matter what the media says or what public outcry there is over MBAs, when push comes to shove, they will be the first to get the job...always have, always will. The reason is because they are the most impressive, knowledgable people in their fields....its earned, not gifted.
I hope the new breed of MBA's police the corporate sector & turn in any abuse by their employers.
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- Tuesday March 10, 2009 04:36PM EDT
OH YEAH, WILD SWINGS ARE GOOD