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- wonderboy, on 10/10/2007, -9/+61This is stupid. It's like saying you don't need college because Bill Gates didn't need it. Take a look at this:
http://www.collegejournal.com/salarydata/mba/mbas.html - diggstown, on 10/10/2007, -4/+37How do I prove that nobody who uses the word PROOF in a Digg title has the slightest clue how to prove something?
- scoreboard27, on 10/10/2007, -6/+37>>Larry Ellison once remarked to recent grads of a top management school, "Now that you have an M.B.A., you will never be as successful as me!"
Reason #7,393,932 Larry Ellison is a tool. - canewediggit, on 10/10/2007, -1/+30the problem with this is those people are entrepreneurs. if you want to create a business, the mba may or may not serve you. if you want a cushy corporate gig with a nice paycheck, go get one. there's always exceptions but if you look at any significant research into the subject, you will find that the mba will wind up making you more money over the course of your life.
- hoppdawg, on 10/10/2007, -2/+25Warren Buffet got his Master's degree in economics at Columbia Business School, studying under the famous value investor, Benjamin Graham.
- nshah, on 10/10/2007, -6/+27I am going to start applying this logic to everyday situations. "It's okay I don't need a M.D to perform surgery--I saw Bear Grylls do it on Man versus Wild".
- inactive, on 10/10/2007, -8/+27The author is a little confused what the point of most MBA's getters are. People don't get an MBA to get rich.. They get an MBA to become a middle manager because they are tired of actually working and want a raise to sit around having meetings that accomplish nothing.
- kopasa, on 10/10/2007, -7/+26The main reason MBAs are rapidly losing value is the sheer amount of people obtaining them.
It's supply and demand you stupid ***** business majors. The ONE thing you should have learned. - operand, on 10/10/2007, -3/+21experience > education.
- Error601, on 10/10/2007, -3/+16Most of the article is completely invalid biased sample. The only part that really says anything is "the reality is that the degree generally isn't a guarantee or indicator of your future success" which is a claim no one has made. So, basically, the article is all fluff.
- legendxx, on 10/10/2007, -8/+211 in 3 isnt bad... if someone told me that if I got an MBA I had a 33% chance to become filthy rich... id do it.
- jmpeagle, on 10/10/2007, -6/+17aren't the majority of people getting MBA's going to be accountants. This doesn't surprise me.
Also, the mere fact that less than 1-2% of American get MBAs and then they end up controlling 1 in 3 of the executive positions shows that an MBA must be doing something right. - fatboynic, on 10/10/2007, -2/+13I agree. Besides...most of the successful businessmen on that list are entrepreneurs that started their own business, idea, or product. I can guarantee you that they have people with MBA's working for them and they pay those MBA's good money. Having an MBA gets you in good jobs. However, Anyone with the will and persistence can be a successful businessman with or without a degree. Had Buffet or anyone else on that list not been an entrepreneur, they would be making average wages...much less than a person with an MBA...
- xiaomonkey, on 10/10/2007, -3/+14muckb777: thankfully I didn't waste more on a "prestigious" school
This could, of course, be the problem. - Loonatickle, on 10/10/2007, -1/+11Paper credentials have value when someone in upper management who has never met you is making a decision about your future. Work for a large corporation, consulting firm, etc. long enough and this will eventually happen. I'm not saying it's fair, but that's reality.
- bromac, on 10/10/2007, -4/+14Correlation...causation...how many times do we need to say this?
Just because they're making a higher average salary doesn't mean it's BECAUSE of the MBA. Could it be because they're already profit driven, thus will make a higher average salary than other professions and degrees? - mcman1223, on 10/10/2007, -1/+10most people who advise on getting mba's tell you that it is almost useless unless you have at least 5 years work experience under your belt. all you diggers saying that experience > education are right, but when the two are combined they create something that no class or work experience can teach.
- BiggRigg, on 10/10/2007, -1/+8These people are definitely the exception not the rule. Plus the fact that you equate wealth to intellect is sad. These people earned their money following a passion, not trying to get rich (and not necessarily doing the 'smart' thing).
- coldwind777, on 10/10/2007, -2/+9ZING!
- northjersey78, on 10/10/2007, -2/+8I can't read this now - I have a meeting with the Bobs in 20 minutes. They called me at home.
- huntrm, on 10/10/2007, -2/+8Better approach to this is getting a "GOOD" MBA from a "GOOD" school. I did this after 3-years of being out of college, and I doubled my salary, and have a great alumni network to leverage. Based on the scholarship I received, and fact that I was able to minimize loans, I'd say my full-time MBA paid for itself in less than 18 months. Not bad if you ask me. Lots of crap MBA schools out there.
- chipsotoole, on 10/10/2007, -0/+6Ronaldinho, I'd keep pursuing the soccer thing. An mba would be a distraction at this point.
- Doubledown, on 10/10/2007, -4/+10He's a tool with a lot more money than you
- enki25, on 10/10/2007, -2/+8I agree, all of these people in the article talk about how worthless MBAs are but they all have them or higher academic accomplishments. It's hard in hindsight to see what allowed you to do what you did, but even if all the MBA will accomplish in your life is get your foot in the door, it was still worth it.
- Novagenesis, on 10/10/2007, -4/+9There is reason to believe correllation in this implies causation. Further, many employers will not hire a non MBA to a particular position (usually higher paid positions).
- ronaldinho, on 10/10/2007, -1/+6As someone who is thinking of getting an MBA, I think it's a good article. Not that it will deter me from getting one just because there are 20 successful people saying it's overrated (notice they are all entrepreneurs), but it's a reminder that the MBA does not automatically guarantee success. It is only part of the equation. Hard work and gaining experience are still needed, along with finding yourself and maximizing your potential to its fullest.
- SillyRabbits, on 10/10/2007, -1/+6It also depends on the type of business. I know of many businesses in technology fields that exclusively higher engineers for typical MBA type positions. They claim that it's much easier to teach an engineer about business and management than it is to teach an MBA holder about technology.
- aztuscani, on 10/10/2007, -0/+5It would be interesting to see the stats for executive nepotism in comparison to people who atleast worked hard for some period of time.
- Stochio, on 10/10/2007, -0/+5It's "too", English grad.
- Eshestun, on 10/10/2007, -3/+7I don't think an article can get more biased than this.
Showing that 20 entrepreneurs got to where they are without an MBA out of the millions and millions of students doesn't prove a goddamn thing. - Doubledown, on 10/10/2007, -1/+5I actually know a girl who dropped out of college her freshman year to take a full time position making $60,000. A few years later, she is making 6 figures.
- kelbear, on 10/10/2007, -1/+5It's not about your actual value, it's about what you can prove. Unless you can demonstrate it in the resume, you're not getting an interview. If you can't demonstrate it in the interview, you're not getting the job. If you can't demonstrate it on the job, you're not keeping it.
Experience is more important than the degree. The degree is for the chance to be given that opportunity for experience.
Saying you can do something is easy, any schlub can say they can do anything. And HR doesn't have time to sift through ***** claims. So they want a degree or experience/references. - endgame, on 10/10/2007, -2/+6College education is WAY over rated. I still feel education in general is important but I'm sick of hearing how you will end up flipping burgers if you don't have a college degree. It's a total lie.
- inactive, on 10/10/2007, -1/+5I would agree that an MBA degree isn't a launching pad for a great career as an entrepreneur. BUT, not everyone wants to be an entrepreneur. Some people want to be the guy that those successful people need to hire to do things like forecasting, financial statements, and business plans. There really are some useful skills you learn in B school but how to be the next Bill Gates or Warren Buffet aren't among them.
- junk2006, on 10/10/2007, -2/+51/3, a third, 33.33% that is pretty huge for the amount of people who have MBA's in top positions, just because its not over 50% that doesn't make it bad. Regardless becoming CEO or anyhting high up isn't just about schooling but obviously the schooling helps.
- Dumbledorito, on 10/10/2007, -3/+6George W. Bush has an MBA. He also has an interesting history in business. Make of that what you will.
- bwohlgemuth, on 10/10/2007, -1/+4As a MBA student (and soon to be graduate), get it. Find the program that works with what you want to do and just finish it. Yeah, there are a number of "MBA-Marts" around, but there's something to be said for finding the right program which fits your needs.
- SpacemanSpiff, on 10/10/2007, -2/+5I disagree with your first statement, but your second comment regarding the numbers is the best, and most logical, on here so far.
- halik, on 10/10/2007, -2/+5For top end position, you need both
- MK0094, on 10/10/2007, -4/+7Just look at Ron Jeromy
- Stochio, on 10/10/2007, -0/+3Because he's a tool that doesn't donate nearly enough.
- newstart, on 10/10/2007, -0/+2Best reply! kudos!
- inactive, on 10/10/2007, -3/+5In business I'd take a 3 handicap over an MBA any day.
- inactive, on 10/10/2007, -2/+4Depends whether you're talking about the degree, or the people that hold them.
- longfocus, on 10/10/2007, -3/+5...right
- WilliamDavis, on 10/10/2007, -1/+3Big engineering school?
- enginbeering, on 10/10/2007, -2/+4someone's bitter
- Kniggit, on 10/10/2007, -1/+3How about getting both an engineering degree and an MBA?
Either one of them alone wouldn't have landed me the job I have today. I have both (actually two engineering degrees), and they've served me well.
Your MBA is just an extra dimension of thinking. If you don't understand the "technical" fundamentals of a business, no business degree is going to help you get to the top. - fatdog789, on 10/10/2007, -1/+3Yeah...those A students teach in business schools *AFTER* they've spent a few years getting rich. Mostly, they've retired or switched to a lighter schedule and want to give back to their alma mater, so they teach as adjuncts.
I don't know anyone, with an MBA and poor (C average) grades who was bossing around people who did better in business school. I mean, come on, if you can't even succeed in business school, the chances of you successfully running a business or holding a supervisory role are almost zero. - WilliamDavis, on 10/10/2007, -1/+3You're exactly right. Entrepreneurs usually don't want to wait through college and grad school to get started. One exception might be if someone wants to use student loans as a low interest way to fund their business ventures. =) Even then, MBAs are for people that want to work for other people, not the really driven entrepreneurs.
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