Excessive Professor Salary at Thunderbird

[Yanji]

One of my first jobs was at a for-profit English school in Mexico. I loved it- the classes were good and the teaching method was unique and effective. The only problem was that with any for-profit, education is important, but not the primary goal. What this meant was that while most people that entered ended up learning English, many who didn't try very hard or just weren't very talented ended up getting pushed through because they were paying. It was an expensive school with small class sizes and we had a bare minimum number of 4 people per class to maintain a profitable group. So, if there were 3 good ones and one horrible one in a group, this bad person would pass each level regardless, otherwise we would have to shut the class and lose the revenue for all 4 students.

This is a great anecdote about the pitfalls of for-profit education. Nobody is saying that for-profit schools are illegitimate by nature, but education can never be the top priority when there are shareholders demanding a profit to answer to.

As for the value of an MBA, I would argue that there is more value than ever in getting an MBA, but it's important to attend a school where you can get an RoI. In my opinion, $100k+ for an MBA is a bargain, but it just depends on which school you spend that $100k+ on. Everyone has different goals, but these are more or less the kind of US-based programs I'd advise people to attend based on my experience:

• Full time: Top 30ish schools. Tuition isn't that important as you'll easily make it back and scholarship money flows freely at most top 30 schools if you merit one.
  
• Part time/EMBA ($$$$): The best local school you can get into, private or public (e.g. Northwestern, Berkeley, etc. if you're good enough; Fordham, Southern Methodist, etc. if you're not that good)
  
• Part time ($): Good local state schools with low tuition (e.g. Florida, SUNY Buffalo)
  
• Online ($$$$): UNC, Indiana, Penn State, Arizona State and Florida. I wouldn't even look any further, at least not in the US. (Duke doesn't really count as online)
  
• Online ($): Some respected state school where you live (e.g. Florida State, UMass Amherst) or simply the cheapest program to get the 3 letters on your resume
  

The only exceptions I can really think of are young unranked programs which are offered by a university with a tradition of excellence (e.g. Hopkins, UCSD), schools which are ridiculously well-connected (CUNY Baruch, perhaps William & Mary) or schools which offer something unique to their students in a specific area. (e.g. Oregon and the sports industry, Babson and entrepreneurship) There are some degrees where pinching pennies is a good thing like "check the box" Masters degrees for teachers, but I think there is a pretty wide range of circumstances in which paying big money for an MBA can be a prudent investment.

[ryoder]

With regard to investing in your future, I suggest investing in yourself and not the school.
If one school costs 100k, another costs 50k, and the third costs 20k for an MBA, think about what you are really investing in. Can you justify investing an extra 80k or 30k in that school? Instead of investing dollars in a name, invest time in yourself by fully applying yourself to the course work. Even better, go above and beyond the minimum and supplement your coursework with additional study and practice outside of school and work. Work harder than the next guy and you will do well in life.

[cookderosa]

Being completely unaware of all things in the business world, I had no idea that was the "top" school, but what I don't understand is why a BUSINESS school with a collection of the brightest business minds can't turn a profit? It's almost like the opener of a joke.

[Jonathan Whatley]

I don't get the concern. These guys can't be paid enough.

[video=youtube;P_cpV00c4IE]http://www.youtube.com/watch?v=P_cpV00c4IE[/video]

Wait, what? :p

[burbuja0512]

I would be careful overestimating the value of the connections made at B-school, but also careful under-estimating them as well. Here is what I mean:

There are LOTS of ways to gain connections in the business world. B-school is only one, and a costly one at that. Yes, there are tons of ways to network and meet people and if you are savvy and REALLY (I mean REALLY) motivated, you'll meet top people without ever having set foot in a classroom. I had a really good salary and job before I even had an undergraduate degree. I have made great connections in my MBA program who may help me in the future, but they may not.. I'm not really sure yet. Presently the value of my MBA seems to be in its uniqueness, combined with my skills and work experience.

If you are someone who is already well connected and already has a good job, or someone who is driven enough to find ways to meet people in your chosen industry, then why pay more? Get the cheapest MBA you can that's from a legit, non-degree mill school.

However, if you're just starting off and lack a mentor who can teach you the ropes and feel totally clueless about how to make it in the business world, it might be better to go to a school where you'll meet a lot of people who can help you, not to mention that the better B-schools may inadvertently launch your career simply through their superior internship programs. I don't know about you guys, but I am totally unaware of any internship opportunities from the Big 3 or even online MBA's. This could be crucial for the young and inexperienced learner.

Lastly, what are your career goals? Do you want to be in executive management at a Fortune 500 company? If so, then you better start looking to see which top programs you can attend. No, not all top leaders have been to ivy league schools, but you will have a much higher chance of making key contacts there than with other options. However, if your business aspirations don't go beyond middle management (and there's nothing wrong with this!) then you can do this will good old fashioned hard work and dedication and any old "check the box" degree.

Remember... even the top schools can't guarantee a great job within the business world. It's extremely competitive depending on the industry and a business degree isn't like a medical degree.. a BSBA or an MBA teaches you theories and concepts, but there is no guarantee that you'll know how to run a successful business or even make good strategic decisions. So, in many cases, it's just a survival of the fittest environment where the best, the lucky, the most well-connected, and the most cutthroat get beyond middle management. If this idea doesn't appeal to you, then B-school should be reconsidered regardless of which university you've been considering.