“Is an MBA worth it?” is ranked on average 80 out of 100 on Google Trends — it hit 100 in October 2011, possibly from an Economist article published that very month, which questioned the value of MBA programs from mid-tier schools.
Entrepreneur.com believes getting an MBA is truly worth the time and effort. It’s worth the investment…as long as you get it from a top-tier school. And the odds of getting into a top-tier program? Well, unless you’re an absolute go-getter with at least a 700 GMAT score, and can speak at least two languages — fluently, I might add — and have some experience within the financial world, you aren’t getting into Harvard, Stanford, or Wharton.
But is it worth it? Some say yes, other say no. If you’re thinking of entering the startup world, it’s totally not worth it. Jay Bhatti, co-founder of Spock.com and a graduate from Wharton, believes that MBA programs might actually “make your risk-averse and cripple your ability to innovate.” The reason behind this is that MBA programs are “designed to teach people to look at prior data and patterns in order to identify future outcomes. In the real world, this just does not work when it comes to new markets or innovation.”
Even CEOs are starting to come out and say MBAs aren’t worth the hassle. Tien Tzuo, CEO of Zuora, believes that the world, as it is today, is transforming how companies are hiring and how business schools are teaching their students. Tzuo says, “forget everything they learned in business school. Or better yet, don’t go to business school.” The reason? Because companies aren’t selling physical products anymore. It’s all about delivering services. “The world is shifting from selling products to selling subscriptions, and in the ‘subscription economy,’ companies are focused on generating recurring revenue.”
That’s not to say an MBA won’t open doors for you, because it will. It can boost your opportunities and help you obtain better promotions and salaries. But to really get use out of it, you need to find a program that most fits you and you need to get into a top-tier school to boot.
So, is it worth the time and money to get an MBA? The answer, at least, from what’s been gathered, is “no”.