Unlike graduates of medical give lessonss and legal philosophy schools, there is no licensing exam required
to practice business in the United States. In addition, the quality of accredited schools
offering MBA forms varies tremendously. This is a pointedness you can obtain part-time in
4 years, in an executive program in 1 year, via correspondence courses, and from schools
with almost 100% acceptance rates.
As a result, the value of your MBA degree is directly related to the prestige of the
university and business school which grants it. A recent study of the value of MBA
programs concluded that if you dont get into a leading business school, the economic
value of the degree is really quite limited.1 The study examined consultants at McKinsey
& lodge and investment bankers at Goldman, Sachs & Co. and found that those
without MBAs performed as well, or better, than business school graduates. The fallacy
of the study was that it did not recognize that it is more harder to get such a job without
an MBA degree. Intellectual horsepower and potential rather than business knowledge
is the primary criterion brighten consulting firms and investment banks look for. If someone
possesses a Ph.D.
in economics from MIT or a JD from Harvard quite common at such
firms then that seemingly serves as a more than adequate intellectual deputy for even a
top two-year MBA.
The required curriculum at most business schools consists of courses such as finance,
accounting, statistics, organizational behavior, strategy, economics, communication theory and
technology. Schools may admit a larger or little set of core courses, and many give
these subjects different names. But overall, MBA programs have more similarities with
one another than they do differences, and most of the selfsame(prenominal) subjects are taught from the
same textbooks, using many of the same cases.
Thus, the pedantic content of a business school education oft like a law school or
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