According to Business Because, if you want an MBA to count, you need to go to Harvard
Or Wharton, or Stanford, or even INSEAD. Wrong! Yes, the brand name is important. Typically, top-tier business schools have bigger alumni networks and can set you up for success on a global scale.
But there’s life beyond the MBA rankings. Outside the elite, there’s plenty of value to be had in doing an MBA. Take Fox School of Business at Temple University, where if you get in you can almost guarantee you’re going to get a job afterward even if you’re an international.
MBAs are just egomaniacs bound for Goldman Sachs
In April, I met with Stuart Robinson, the new MBA director at the UK’s University of Exeter Business School. Stuart spoke of MBA students building family businesses, of small-scale social entrepreneurs, of an Australian student who runs a small farm in a remote area of Senegal— there are no big-shot bankers present here.
At Lancaster University Management School, I’m told there’s only one former consultant in the current MBA class. The stereotypes around MBA programs are outdated, and MBA applicants know it.
MBA programs are too expensive
Yes, MBA programs are expensive. If you want to join Harvard’s MBA class of 2020, you’re looking at paying more than $146,000 over the two years in tuition alone.
You’ve spent sleepless nights studying after work, you’ve sweated through the GMAT or the GRE, you took the leap and quit your job, and you got into your first-choice business school. Now, you can relax; breath; smile. Success, respect, and hundreds of thousands of dollars lie in wait.
The MBA is the be-all and end-all of graduate management education
It’s the world’s foremost postgraduate management degree, but the MBA is expensive to do and expensive to run. Some business schools are shelving their MBA programs.
London’s Kings College Business School opened in 2017 with no MBA program on offer, while London School of Economics (LSE) offers an Executive Global Master’s in Management (EGMiM), marketed as the alternative to the MBA.