Is the MBA degree worth the effort?
I have been battered around for too many radical views….and saying the following things:
– do not buy a house, rent it
– LIC is a lousy investment, do not expect miracles from it
– so on and so forth
So having said all that let me ask you one terrible question:
Is doing an MBA by spending Rs. 25 lakhs (and the opportunity cost of earning say Rs. 8L in this period) worth the effort and the money?
I do not have an answer, truly. Once upon a time the MBA degree was not so expensive. Now every college wants to price it damn damn high and parents are falling for it. And parents have a fantastic logic “If it is a big brand MBA it must be good”.
I think it is just some kinda brilliant marketing, and those with the degree DARE NOT say that it has not been worth the effort and money.
What are the arguments FOR doing an Mba?
– but Subra Sir would a Cap Gemini, Ernst & Young, KPMG, Infosys, TCS…even come to our degree college? so we got a chance…
– in 2 years we met so many interesting colleagues, professors, etc. – the interaction was worth it.
—–etc etc.
but I am still skeptical. Rs. 25L? with an EMI to pay? or your dad’s PF money….Sure if your dad had Rs. 5 crores and this 25L does not matter it is different.
After all I never asked you why did you buy that YSL handbag for Rs. 130,000….did I?
http://www.subramoney.com/2013/05/class-of-2013-confessions-of-an-mba-school-salesman/
read on
http://management.fortune.cnn.com/2013/11/08/mba-remorse-business-school/
SAM
Subra,
You actually know people who buy YSL stuff?
Ah… the company you keep!
SAM
aditya modi
Hi Subra,
was blessed by parents to get into FMS Delhi (had a burning desire to study there). THe best atleast in Asia for ROI. paid 18500 RUPEES for the good education and interactions with profs other departments etc.
When i tell my US clients, I paid less than 400 USD for my MBA from a reasonable good and less marketed institute in a country where an IIM jharsuguda claims more mindshare thanks to our Numb and dumb media..all they have is a curious frowning look..
Regards
Aditya
Rajeev
Subra,
Getting an MBA is not enough. By itself the degree does not make you a coveted person in the job market neither does it make you climb the corporate ladder faster.
One Marwadi friend once said MBB ( Marwadi By Birth) is anytime better than MBA. You have to have business in your blood to be successful. No transfusion will work. Its effects are short lived.
Maven
Sir,
A costly MBA is always a risky affair with little gain. There are better ways to gain knowledge- reading books, meeting people, traveling etc. MBA these days is just show biz. I know Harvard MBAs who analyze companies (read equity research) for a living. You could do that without an MBA. I know MBAs who work in software companies where their skillsets are put to very less use.
Distance Learning MBAs also don’t carry any value. They may however be a good source to gain some knowledge.
All in all, doing an MBA is a losing proposition. There are much better ways to put the money into use.
Regards