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Avoid The MBA Budget Blues By Not Getting One

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Avoid The MBA Budget Blues By Not Getting One!!
Closely held beliefs about the value of specific college degrees have been challenged by some compelling figures. Research indicates that the average salary of ABA law university 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.

Everybody has an MBA now

Lower ranked schools and online schools started offering increasingly 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 amount of those 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 assume that this less exclusive club is going to confer the same benefits.”

Drop in MBA salaries

Between 2008 and 2012, there was a 4.6 percent decrease in the typical minimal pay for graduates with MBAs to $53,900. The average total pay dropped 62 percent during that time at 186 PayScale schools. This just goes to show that people getting MBAs is really just hurting others who have the degree.

The issue is that students have false hopes when going in to get their MBA. There are too many students with the degree and not enough exclusivity. With the sluggish economy creating fewer jobs, it is even worse. It seems people want experience over diplomas.

Money cow diplomas

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 industry before you decide to get debt to get another degree, and the median salary is not worth it the majority of the time. Unless you get into a top tier college, it is not worth it.

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