Closely held values about the worth of specific university diplomas have been questioned by some persuasive figures. Research has revealed that the median salary of ABA law school graduates a year after graduation is $45,000, with an average debt of $150,000. So from a debt-value standpoint, law school could be out. Now studies suggest that the value of a business college degree - a Masters of Business Administration (MBA) - may also be very doubtful.
Everyone has an MBA now
Lower ranked schools and online schools started offering more and more part-time and executive MBA programs in the early 1990s, according to the Wall Street Journal. There have not been enough jobs to keep up with the number of people who have MBAs now.
At the Georgetown University McDonough School of Business, a professor dr. Brooks Holtom pointed out the issue. He said: "An M.B.A. is a club that is now not distinctive. You should not believe that this less exclusive club is going to confer the same benefits."
Drop in MBA salaries
The result of this is proving to be some very costly stories of woe, particularly for those with MBAs from schools that aren't top-tier. The figures bear this out. Average pay for graduates with minimal experience (three years or less) was $53,900 in 2012, according to data from PayScale.com. That's 4.6 percent lower than it was in 2008, and at 186 of the schools PayScale examined, pay dropped a whopping 62 percent over that time span.
It seems that now top-tier corporations only recruit from very distinctive schools to keep the exclusivity of the degree. A sluggish economy does not help since there are fewer jobs and more MBAs just sitting out there. On top of that, business schools are giving false hope to students who believe they can get much better jobs with their MBAs.
Fast cash at a university
Universities are making a ton of cash right now on business and law. There are a ridiculous amount of law students and business student's right, which is also really bad news for those students. It is a better idea to evaluate the career market before you choose to get debt to get another degree, and the median salary is not worth it much of the time. Unless you get into a top tier college, it is not worth it.
Everyone has an MBA now
Lower ranked schools and online schools started offering more and more part-time and executive MBA programs in the early 1990s, according to the Wall Street Journal. There have not been enough jobs to keep up with the number of people who have MBAs now.
At the Georgetown University McDonough School of Business, a professor dr. Brooks Holtom pointed out the issue. He said: "An M.B.A. is a club that is now not distinctive. You should not believe that this less exclusive club is going to confer the same benefits."
Drop in MBA salaries
The result of this is proving to be some very costly stories of woe, particularly for those with MBAs from schools that aren't top-tier. The figures bear this out. Average pay for graduates with minimal experience (three years or less) was $53,900 in 2012, according to data from PayScale.com. That's 4.6 percent lower than it was in 2008, and at 186 of the schools PayScale examined, pay dropped a whopping 62 percent over that time span.
It seems that now top-tier corporations only recruit from very distinctive schools to keep the exclusivity of the degree. A sluggish economy does not help since there are fewer jobs and more MBAs just sitting out there. On top of that, business schools are giving false hope to students who believe they can get much better jobs with their MBAs.
Fast cash at a university
Universities are making a ton of cash right now on business and law. There are a ridiculous amount of law students and business student's right, which is also really bad news for those students. It is a better idea to evaluate the career market before you choose to get debt to get another degree, and the median salary is not worth it much of the time. Unless you get into a top tier college, it is not worth it.
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