On average an MBA will cost $150k.
Is it worth it to get an MBA these days?
In my experience and what I have observed from a lot of my friends, it is not.
A lot of people think about getting an MBA because it might enhance their career choices.
However, in the past year, I have met many individuals with MBAs looking for jobs for over a year due to two reasons.
One, their MBA make them overqualified and therefore the company doesn’t want to hire them. Or two, their MBA is not coming from a school that the employer could consider a top school.
The only reason you want to get an MBA is if you are planning to take a leadership role like a business owner or management.
In these days and age, startup companies rather look for individuals that can think outside the box and innovate, not people with MBAs because the owner of the startup already has an MBA.
Aside from the massive costs, to get into a reputable MBA school you need to have a high GMAT score, which it is based on academics and not the real world.
The best University for an MBA is the real world, not a school.
The way technology is advancing and the way the new generations are willing to learn, are making the school system outdated.
Also, let me ask you a question: Do you really want to learn how to do business from an employee at a University? What do they know of the real world?
Going back to my friends and people that I know.
A CEO, lost his job because the company got bought by another one and merged, they decided to keep the CEO from the buying company.
It has taken over a year for this CEO to find another position due to his qualifications and the lack of openings in his area of expertise.
Another CFO, let go due to the company not doing well financially has not been able to find another similar position in his industry.
A friend of mine, have not been able to get a job because either she is overqualified or not up to date with the industry and everything has evolved.
I cringed when I hear some of my friends telling me that they are going for an MBA.
Not just because of the costs, but also for all the time that they are going to invest.
They could use that time to create something on their own with the same amount of money that an MBA will cost them.
And the time that could have taken them to graduate, they could have a business up and running and providing them cash flow.
Here is my advice; a real MBA is a Massive Bank Account.
Be open-minded about legitimate business opportunities. Look deeper, get informed and look around at what is available.
Learn how to grow your money in different ways, through investments, passive income and in low-risk accounts with a great rate of return. They are out there, I know because I have them.
You might be surprised about all the money you are leaving on the table, just because you are searching for a paper and a very expensive title that will never guarantee you a J O B.
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