Month: March 2019

MBA Programs

A Master of Business administration (MBA) degree can be a valuable career enhancement for people that are already in, or think about switching to, management positions. MBA courses cover various areas of business such as accounting, finance, marketing, and operations. There are various types of MBA programs, including part-time, Executive MBA programs (EMBA), and online programs. EMBA programs are abridged versions of MBA programs tailored to people with work experience.

US News & World Report publishes rankings of the best schools for MBAs (led by Wharton) and EMBAs(Chicago Booth). The cost of very best MBA degrees is $200K, which is steep, but may be a better deal than a $60K degree from an unranked school.

People who already received MBA degrees are certainly very satisfied with the programs they completed. Great majority of them rates the value of the MBA degree as outstanding or excellent, would pursue the degree again knowing what they know now, and would hire alumni from their alma mater.

How do you stack up against students in top schools? Wharton EMBA students have median GMAT score 700, their average age is 35 (with 14% over 40) and have 11 years of work experience.

Of course, first you need to be accepted to an MBA program. All business schools use GMAT to screen applicants. GMAT tests reasoning and writing skills using an adaptive computer program. Tests are administered in test centers around the world. You can take a mini-quiz online to quickly assess your test taking chops. I was disappointed to get 2 out of 8 questions wrong, including a math question 🙂

What is a School Worth Anyway?

I read the Los Angeles Times’ article “What Students Know that Experts Don’t”, that claims that completing a college education is not about gaining the knowledge, but about signaling, that graduates are hardworking and that they conform to the rules.

The article has implications for the recruiting and interviewing I do for my company. Due to time constraints, particularly during recruiting trips, I scan applicants’ resumes and if the GPA is below 3.0, my first question is often why. These may be bright kids, passionate about programming or some other useful skill and my following questions will attempt to tease how good and passionate they are. But a low GPA might anchor me against hiring them.

The author of the article is Bryan Caplan, a professor of economics at George Mason University. I plan on reading a book he wrote on this subject titled “The Case Against Education: Why The Education System Is a Waste of Time and Money” and will report on it when I do.

This week, the problem of college degrees’ value was brought into sharp focus. FBI charged parents, top school college administrators and their coaches with a scam to help wealthy parents get their children into elite universities. It is not clear, what will happen to students benefiting from actions of their parents. Some students allegedly did not know about these scams and if true, it is hard to imagine how these kids feel now. Even if they are not expelled from their schools, they are tainted by actions their parents took.