Link: Deal Journal – WSJ.com : MBAs are Once Again the Ticket to Wealth.
At bplans.com we’re unsettled with the MBA phenomenon. Several of us have MBA degrees from brand-name schools (Stanford, Oxford, for example) and our software popularizes things learned at those schools. Still, our mission is to create software that brings key elements of the MBA world into software where these elements become accessible to everybody.
For years I’ve said “you don’t need an MBA or CPA to do a great business plan.” I still believe it.
Furthermore it’s hard to justify the economics. What you lose in salary for not working two years is ofttimes hard to make up with extra salary afterwards.
Still, it’s hard to measure education in money. If you have the time and money, my MBA years were two of the best years of my life. I enjoyed the classroom thoroughly. We lived on campus at Stanford. The family — I was 31, we were a family of five — lived happily in family housing. However, I didn’t do the full economic sacrifice, I worked a full-time income in part-time consulting. So who knows.