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PrLoko-isms
Don't waste time by trying to save time. The only sure way to complete your degree is to knock out credits quickly and efficiently.
Don't let easiness bite you in the rear. Know your endgame (where you want to be) and plan backward from there. Your education is a means to an end.
Be honest professionally, socially and academically. There are people (especially little ones) who look up to you and they're going by your example.
Be proud. Whether you're an Engineer or Fast Food worker, there is honor and dignity in hard work.
Picking on people weaker than you only proves that you are a weak person.
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Prloko Wrote:This time its U of Missouri.
Bloch School In Red By $10.6 Million | Poets and Quants
MBA programs have become some of the biggest rackets ever. UC Berkeley's MBA program is $160,000 for a 2 year program even though it's a state school, yet dental school/medical school which is 2 years longer costs about the same. When you go with an expensive MBA program you're basically paying not so much for the skills but the "prestige" factor. If it were me, I would either go to a top 10 MBA program (if I had the money and wanted to make a career out of it) or go to a cheap AACSB accredited program. I am looking into West Texas A&M for its MBA program with a concentration in Healthcare or CIS which is AACSB accredited and will cost me less than $10,000 and can be done on the side so I don't have to lose time at work. Am I relying on this degree? No, it's just to put on my resume and to supplement my own C.V. Compare that to UPenn Wharton MBA program where it would cost $182,000.
Now if you're the son or daughter of a rich Emirati prince, that program may make sense, but for us plebeians it doesn't. The funny thing is these MBA jobs are putting students an additional ~$150,000 in debt (plus interest), two years of lost income, and starting them at $100,000 or so in high cost areas like San Francisco. I know because my younger son looked into some of these Executive MBA programs in the Bay. But you can get the same pay if not higher going into tech, actually producing something of value, and with far less debt.
Same logic applies to law school too which is even more morally absent and utterly corrupt.
The Real Cost Of An MBA
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Part of the tuition inflation for MBA programs occurs because a lot of companies are paying the tuition and it is not coming out of the students' pockets or if it is it is reimbursed.
Andy
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It's mostly supply and demand. For every seat in business school at the top 10 MBA programs, there are 10 applicants for each seat, so they jack up the price of education. Most tech companies don't pay too much for tuition benefits and the big ones like Google, Microsoft, Facebook pay up to about $10,000 a year or so. It's probably the finance industry i.e. Bain, Mckinsey, BCG, etc where they may pay for a larger chunk of the tuition costs.
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ajs1976 Wrote:Part of the tuition inflation for MBA programs occurs because a lot of companies are paying the tuition and it is not coming out of the students' pockets or if it is it is reimbursed.
This is definitely a factor, but ultimately I believe the direct cause of the overall impressive tuition costs for college in general is the ease of access to student loan funds for massive amounts of money without credit qualification. Many schools prey on the hopes of students by reinforcing false ideals on the value of a degree in the work place. This is not to say that there is no value; it is very valuable, but it is often only enough to get a foot in the door (if the student has no experience).
Currently studying for: Still deciding.
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2020 - Harvard Extension School - ALM IT Management
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04-17-2015, 10:52 AM
(This post was last modified: 04-17-2015, 10:55 AM by KittenMittens.)
Student loans are definitely a big part of the factor. In a way, we would have all been better off if there were no financial aid as it would have helped controlled costs (but more realistically, putting a cap on student loans so it doesn't exceed rate of inflation and imposing limits on how and where financial aid can be spent in a college). There used to be a time where college was so cheap that you could work a summer or two and pay for the entirety of it even at a private school. A doctor I used to work for who went to medical school in the 60s in the U.S. worked on the side while in medical school, had 2 kids, was able to graduate debt free. It wasn't easy, but try doing that today.
More importantly, what exactly are you getting out of a $90,000/year education that can't be taught through some used books from the library or torrent websites, some MOOCs, etc? Most college degree programs with the heavy emphasis on theory and outdated modalities (particularly in economics and business) hardly prepare you for industry see law school, MBA, most CS programs, etc. The ones that are vocational in nature like nursing with a mixture of theory and applied skills are the best and it harkens back to the past of apprenticeships which have been a proven style of learning useful skills. See the German apprenticeship system for instance versus the U.S. system where the typical college/graduate student ends up with a piece of paper, no marketable skills, and drowning in 100 grand. I just don't get how a shotgun method of taking so many different courses makes any sense, and it's been shown how poorly college prepares you for industry.
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KittenMittens Wrote:Now if you're the son or daughter of a rich Emirati prince, that program may make sense, but for us plebeians it doesn't. The funny thing is these MBA jobs are putting students an additional ~$150,000 in debt (plus interest), two years of lost income, and starting them at $100,000 or so in high cost areas like San Francisco. I know because my younger son looked into some of these Executive MBA programs in the Bay. You can't compare EMBA programs (which are about $$$, and business schools won't even deny that) with F/T MBA programs, which are actually subsidized by the other money-spinning programs at most business schools. IMO, the $50-60k in tuition for a full-time MBA program is a small price to pay if getting an MBA-type job is what you are interested in (regardless of pay), and even if some students are sponsored, the majority pay their own way. Your argument is somewhat more valid to law schools, but that's more of an American societal problem that is just exploited by and third-tier and proprietary schools.
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MBA, Finance/Accounting - Indiana University, Bloomington, IN, 2015
BSBA, General Management - Thomas Edison State College, Trenton, NJ, 2012
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Yanji Wrote:You can't compare EMBA programs (which are about $$$, and business schools won't even deny that) with F/T MBA programs, which are actually subsidized by the other money-spinning programs at most business schools. IMO, the $50-60k in tuition for a full-time MBA program is a small price to pay if getting an MBA-type job is what you are interested in (regardless of pay), and even if some students are sponsored, the majority pay their own way. Your argument is somewhat more valid to law schools, but that's more of an American societal problem that is just exploited by and third-tier and proprietary schools.
It's not just the executive MBA programs. All the top 10 MBA programs' traditional programs are about the same cost as the executive ones like this: Tuition| The Wharton MBA Program or this Financial Aid - Full-time MBA - Cost of Attendance - Berkeley-Haas (including room and board though and other fees)
I wouldn't say $60,000 + room/board + etc so around $80,000 - $90,000 is a small price if interested in MBA level work unless you are certain you can get a job that will have a good return on that investment. Are you doing the online Kelley school of business program or on campus one? I know Kelley has a solid rep, but how is its online program particularly for the cost? Does the online curriculum prohibit students from getting the full benefit of the on campus one?
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