How I Skipped the MBA (and Why You Should Too) A good read, making very good points: "Currently, a two-year MBA at an established school like Harvard or Columbia may well cost you well over $300,000. That’s just staggering." https://www.linkedin.com/pulse/best-mistake-how-i-skipped-mba-why-you-should-too-ryan-holmes
I have two reactions to this article. The first is that I'm quite tired of the faulty logic of "Steve Jobs quit college so you should too." It's stupid advice. All the data indicates that attaining degrees/training results in better prospects. There are always exceptions to this rule but these are exceptional people. There are precious few Steve Jobs in the world and I know I'm not one of them. My second reaction is the authors statement to the effect, "Harvard and Columbia cost a skajillion dollars!" We all know that. We talk about ROI all the time. And no one on this discussion board is even thinking of getting their MBA at Harvard. Most people on this board who are thinking of getting an MBA are doing so because it is a requirement for that next rung on the ladder within their present organization or to make them competitive in an already very competitive job market. For most people, skipping this step means remaining in place for a long time.
I couldn't agree more with you that the notion whether higher education is worthwhile is incredibly overblown. While there will always be outliers like Jobs, for most people higher education is a good way to help them reach their goals. I'd add, though, that while few here may be considering Harvard Business School, among other things this is a community of educators and edugeeks, and I don't see anything wrong with discussing educational matters even when they're unlikely to be directly related to community members' plans.
He has a few valid points, the biggest complaint I have about my MBA (online, WGU) is that there seems to be almost zero school sponsored networking activities. The placement service is likewise week. With that said, in the healthcare industry there are places designed for networking and continued education. My ACHE membership which is only a few months old is already paying dividends with new contacts and I'm hopeful that great things are on the horizon. Full membership in the organizations however requires a masters education....one my employer foot the bill for at WGU's low cost. One doesn't go to Harvard or Columbia just for the education...look at the things the school does to fit graduates with jobs, consider the Alumni support of recent graduates. I don't think folks that make it into those types of programs have the same concerns as the prospective student at WGU or Peru State. His argument is clearly framed from his personal bias, I wonder why he feels the need to continue justifying his own drop out status...why can't success just be its own reward?
Entirely my reason for posting the link. I also stressed the point of cost. To me far too often the cost of higher education, be it immediate or lost opportunity, is overlooked.
I would not go that far. I don't think he is trying to justify a bias. I work in IT and there are plenty of folks without degrees who are very successful and others like myself who came into the career field by other avenues. I also hate the "Bill Gates was a drop out" bit. But the article does explain the risks associated with blindly thinking a particular path is a "guarantee". This is a good discussion. Let me find a joke that will upset folks and throw it all off course.
I agree with this, I think there is a fundamental flaw with the way education is showcased and sold as a whole. ROI isn't even considered at any level. I see this locally with Nursing and EMS career schools...the unsuspecting student never calculates that borrowing $6K+ for a job that pays $10/hour is a bad idea (EMT-Basic). Nursing "career schools" saddle the diploma holder with upwards of $40K in debt for a GN job that pays $20/hour...if they would only choose a state school for example they could reduce the costs significantly.
I never understood why people took out thousands of dollars in loans to become a CNA or medical assistant. The IT field is different from other fields because of its reliance on certifications. It's easy to start in an entry-level position with or without an entry-level certification and a high school diploma or GED. In many other fields, you need a degree and/or many years of experience just to become licensed or certified.
The majority of applicants to these programs either don't understand what ROI even stands for (let alone what it means and why they should care) OR they're so desperate to learn a skill and gain full-time employment that they don't care about the cost until it is too late. And these schools prey upon these applicants.
In most professional cases, a masters degree is best suited for someone who is either mid-career or towards the end of their career where they need more academic validation for political or promotional purposes. In a few cases, a masters degree is necessary early-on. There may come a day when technical associate degrees are more lucrative than masters degrees, especially at the entry-level into the job market.
