Is an MBA worth the money?

**OneStepAhead** · 01-04-2008 04:47 PM

I will be attending UC Berkeley next fall to receive my MBA. I am getting this post-graduate degree in order to improve my knowledge of the different aspects of business.

To those who have taken the time to get your MBA's would you say it was worth the money including the opportunity cost of not working (if this was the case for you)?

**Xanifur** · 01-04-2008 04:56 PM

I probably shouldn't respond -- because I haven't gone through the programs but I would say no. I found that EVERYTHING you can learn in school can be self taught or learned through research and personal development. In fact, I don't think school has done very much for me at all. It's basically money for a certificate of certification. But in the words of Donald Trump: "While it's not necessary, it's a big advantage if you do." meaning, if you have the money, it's an advantage to do it.

**BusinessAdviser** · 01-04-2008 05:17 PM

"In the words of Donald Trump: 'While it's not necessary, it's a big advantage if you do.' Meaning, if you have the money, it's an advantage to do it."

I couldn't agree with this more. An MBA is not necessary to succeed in the business world. However, it will likely make your life much easier. There are exceptions, but in general, I think that one will be better off with an MBA than without.

I have my MBA, and if I had to do it over again, I would.

**jasaunders** · 01-04-2008 05:57 PM

Yes, you can learn everything outside of the classroom that you would in an MBA program. But do you have the discipline to read thousands of pages a year, attend lectures and speeches by some of the brightest business minds, work alongside and network with other successful business people, travel to international businesses to learn about doing business in different cultures?

You can learn anything out of a textbook or on the internet these days. But it might take you 10 years to do it. Making connections in B-school is invaluable. Taking advantage of the opportunities available is invaluable. Learning face to face from some of the smartest business minds in an interactive setting is invaluable.

You get out of it what you put in. If you go for an MBA just to 'get your certificate' that is all you will get out of it. If you go to learn, meet new people, and because of an honest interest in the subject matter, you will get a lot more out of it.

**ChiTown2222** · 01-04-2008 08:27 PM

It totally depends on you. I have a graduate degree... would I do it all over again if I had to? Yes. Is it what has directly led to my success? No.

The thing is, I don't think I would have been mentally ready to jump at the opportunity I jumped on when it presented itself without struggling through 3 extra years of school and realizing where it was leading me... maybe I would have been ready if I would have stayed the course and not gone back to school but I can never be sure.

It really all depends on you, and what you want right now, what your goals are. If you keep your ultimate goal clearly in mind, the means will present themselves. If part of those means are an MBA, then do it. The decision to go or not is completely dependent on your goal.

**totters_traders** · 01-05-2008 03:21 PM

i didnt even finish college so maybe im not the best person to coment but i know a guy who got his mba and it took him about 1 yr to find a job paying im $40,000 a yr

**Woodcs82** · 01-05-2008 03:25 PM

College is good, but not nec. these days!

**jasaunders** · 01-05-2008 03:53 PM

Originally Posted by Woodcs82

College is good, but not nec. these days!

Where did you come up with and what backing do you have for such a garbage comment?

**Woodcs82** · 01-05-2008 03:59 PM

Relax man... I said college was good, infact , its great! But you it just isnt necessary these days.

I am a successful entrepreneur and i didnt need college. College is for some people and isnt for others.

Before you get all angry you should have read that i said it was "good".

WOW

**jasaunders** · 01-05-2008 04:09 PM

I am wondering where you are coming up with it not being necessary? You are one person, and don't represent the population. Not everyone has a college education, but to say it isn't necessary anymore is just garbage.
The number of college graduates has risen for decades as has the number of people with advanced degrees. For people looking to get a job, it is extremely difficult nowadays without a degree. Even those who want to run their own company have to start somewhere, and in 99% of cases that is working for someone else. In almost all cases, the path has been education.

Of course, you can name people like Bill Gates who didn't graduate, but those few people are the exception, rather than the rule, and few and far between (and these people tend to be extremely bright dropouts at Ivy League Schools, not Joe Schmoe deciding to drop out of community college).

More and more entrepreneurs have college degrees these days, and rightfully so. There are many young people on this board, and to make a general statement like college isn't necessary anymore is hurtful to these young folks, because it is just plain wrong... college is more necessary than it ever has been in the past.

**BusinessAdviser** · 01-05-2008 04:30 PM

There are rare exceptions, as there are in every case, but a general rule of thumb is that you should get a college education.

I don't see the need to elaborate or defend this comment, as it is rather straightforward and self-explanatory.

**totters_traders** · 01-05-2008 05:02 PM

and you also never know who you might be at college with and what they can do for you in the future???i should no

**kiddoso** · 01-05-2008 08:00 PM

Here is the deal Woodcs82, you made a blanket statement that:

"College is good, but not nec. these days!"

Then you said:

"College is for some people and isnt for others."

You see what the problem is? You used what worked for you and tried to apply to everyone else. The two comments even contradicted with each other.

Since we are talking about getting a college degree in general, here is the reality. As long as a youngster does not know exact what he wants to do with his life, the best thing to do is to get a degree. You know why? If after he finishes his degree he decides to be an entrepreneur, he isn't losing out too much. On the other hand, if he skips college, tries to be an entrepreneur, and realizes it's not for him after five/six years, it would be much more difficult for him to go back.

For me personally, the benefits of a college degree should not be discounted. Even though my job does not require me to use what I learnt in college directly, I want to argue that the college experience has given me exposure to all basic areas.

So, be careful when you give "advices".

**kiddoso** · 01-05-2008 09:23 PM

So much for the distraction...

OneStepAhead, did you receive your undergrad degree in a non-business major? My undergrad degree was in engineering, and I went ahead and got an MBA. I think it was worth it. As pointed out by other posters, what you get out of the program is related to how much you want to put in. Yes, it is costly, but if you want to get a well-rounded education in finance/marketing/accounting/investment/entrepreneurship..., go for it!