Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,199,508 members, 7,971,912 topics. Date: Thursday, 10 October 2024 at 06:05 PM |
Nairaland Forum / Nairaland / General / Education / The Best Business Schools In The World (24613 Views)
Mba Essays For Tuck, Chicago Booth, Stern And Havard Business Schools. / How To Get Into The Top Universities/ Business Schools In The World / Business Schools In Lagos (2) (3) (4)
(1) (2) (3) ... (12) (13) (14) (15) (Reply) (Go Down)
Re: The Best Business Schools In The World by Sagamite(m): 12:06am On Oct 07, 2010 |
[size=18pt]Meet the enemy of the MBA[/size] (poetsandquants.com) -- If Josh Kaufman had gone to business school, he probably would have graduated this year with an MBA from Harvard or Stanford. But Kaufman, a 28-year-old entrepreneur and former assistant brand manager for Procter & Gamble, thinks business school is pretty much a waste of time and money. MBA programs, he says firmly, have become so expensive that students "must effectively mortgage their lives" and take on "a crippling burden of debt" to get what is "mostly a worthless piece of paper." Kaufman believes that MBA programs "teach many worthless, outdated, even outright damaging concepts and practices." And if that's not bad enough, he insists that an MBA won't guarantee anyone a high-paying job, let alone turn a person into a skilled manager or leader. In an era when MBA bashing has become almost fashionable, Kaufman is emerging as business school's most unforgiving critic. Founder of PersonalMBA.com and the author of the forthcoming book "The Personal MBA," he's a passionate advocate for what he calls self-education. Instead of paying up to $350,000 in tuition and forgone earnings to go to Harvard, Stanford or Wharton, Kaufman says a better way to learn business is to open the pages of classic business texts and learn on your own. His epiphany occurred five years ago, when he was working at P&G (PG, Fortune 500) headquarters in Cincinnati as an assistant brand manager for the company's Home Care division. He had joined P&G straight from the University of Cincinnati by virtue of the school's cooperative education program. Almost all of his peers and managers boasted elite MBA degrees. To overcome his feelings of intimidation and to prepare for the job, he began reading, and reading, and reading, from textbooks, such as the "Essentials of Accounting," to "Competitive Strategy" by Harvard professor Michael Porter and "The Effective Executive" by the late management guru Peter Drucker. "After I went through the self-education process, I felt like a peer," says Kaufman. "I was able to walk into a boardroom and hold my own with people who had graduated from Stanford and Wharton. It was very exciting." Real-world experience is invaluable In March of 2005, Harvard rescinded the admission of 119 applicants who had hacked their way into the school's computer systems to find out if they had been accepted before being officially notified. Kaufman read about the incident on a favorite blog by best-selling business author Seth Godin, who had an unusual view of the incident. Harvard, Godin thought, was giving these applicants a gift: HBS was essentially returning $150,000 in tuition and two years of their lives. "Unless you want to be a consultant or an I-banker (where a top MBA is nothing but a screen for admission)," he wrote, "it's hard for me to understand why this is a better use of time and money than actual experience combined with a dedicated reading of 30 or 40 books." A light went off. "That was the moment when I realized that this project I had been doing on my own for quite a while could be useful to a ton of other people, " says Kaufman, a self-proclaimed "independent business educator." Within days, he drafted a list of recommended books that would form the basis of a self-taught "Personal MBA," put it up on the web and, suddenly, a flood of users flocked to it. Kaufman crafted a "manifesto" to explain the idea to newcomers and to urge them to "skip business school" and "educate yourself." And a serious and committed MBA basher was born. Kaufman left his job at P&G in 2008, moved just outside Fort Collins, Colorado, and went into business, doing one-on-one coaching and consulting for $1,000 a month and creating a 12-week online crash course delivered live and on video for $997. His website, PersonalMBA.com, features what he considers to be the 99 best business books that lay out all the basic principles of business and a community in which to discuss the ideas with others. Kaufman's first book, to be published in early December by Penguin's Portfolio imprint, makes his anti-MBA case and distills the business essentials from the thousands of books he has read. Kaufman claims he is already pulling down what a freshly minted Harvard MBA would make upon joining Boston Consulting Group or McKinsey & Co. "Without any of the debt," he quickly adds. The true cost of an MBA To Kaufman's way of thinking, the only reason someone should go to a business school for an MBA is if they want to work for a prestigious consulting firm, investment bank, or a Fortune 50 company which uses elite business schools as a filter to decide who to interview. "If you want to work in an industry that uses the MBA as a screen, you are effectively buying yourself a $150,000 interview," he contends. "If you want to do anything else in business, if you want to start your own company, get a job in another field, you don't have to have an MBA. It's better if you don't because of the debt." That's a perspective, of course, that many would dispute. "If that view were true, why on earth would we continue to get nearly 10 applications for every slot, given that more than half of our MBA graduates do not do one of those three things," says Richard Lyons, dean of the Haas School of Business at the University of California in Berkeley. "Strange, isn't it, that the recruiters continue to value these people as well, particularly outside these three areas?" Nonetheless, Kaufman estimates that all of these firms combined, from Goldman Sachs (GS, Fortune 500) to McKinsey & Co., probably hire no more than 5,000 to 10,000 MBAs a year out of the more than 200,000 people who are getting MBAs around the world. The other 190,000 to 195,000 people are getting MBAs they don't really need. Kaufman points out that going to Harvard, all told, can cost you about $350,000. If you amortize that at a 6.8% rate of interest over 30 years, it's a $2,200 monthly payment. When you account for the interest, the total comes to $821,000. Unsurprisingly, Kaufman gets his share of hate mail for the message he's so actively delivering. "Frankly, if someone decides to enroll in an MBA program, I hope it turns out well," he says. "But the world would be a heck of a lot better if those people taught themselves what they need to know and then just went out and did it. It's the waste and inefficiency that really gets to me." http://money.cnn.com/2010/10/04/pf/jobs/business_school_waste.fortune/index.htm 2 Likes 1 Share |
Re: The Best Business Schools In The World by SEFAGO(m): 1:11am On Nov 27, 2010 |
http://www.businessinsider.com/goldman-partner-class-of-2011-2010-11 This is a list of the recently announced partners at GS and a large number of them have their MBAs at Harvard (7). No Nigerian/African name However the usual suspect- Dartmouth College (One of the top 5 most recruited schools for IB in the US) is the most represented in the partners list, followed by Cornell. |
Re: The Best Business Schools In The World by Egele713(m): 6:04am On Nov 27, 2010 |
these are the recent top 20 in th US http://www.msnbc.msn.com/id/40153413/ns/business-bloomberg_businessweek/ |
Re: The Best Business Schools In The World by SEFAGO(m): 6:26pm On Nov 27, 2010 |
^ USNEWS is better though it moves up and down a bit too. Interesting Canadian business schools do pretty well especially Richard Ivey, Queens and Rotman. LBS, Insead, Esade, IMD have always been the best in Europe. Also the FT.com rankings are better: http://rankings.ft.com/businessschoolrankings/global-mba-rankings However business school rankings are not really a good way of judging the investment returns on B-School. Location of the Business school matters. Being the best business school in a region matters a lot. Texas A&M, Rice and UT Austin are great options for the south but when you move to the Northeast where Harvard MBA and Wharton MBA are plenty and looking for jobs you would need fasting and praying lol. |
Re: The Best Business Schools In The World by dayokanu(m): 6:51pm On Nov 27, 2010 |
I think Tulane too is good in the South. Business school competition is very tough on the east coast |
Re: The Best Business Schools In The World by SEFAGO(m): 7:20pm On Nov 27, 2010 |
yeah Tulane is good but the schools rep has been affected by the hurricanes that affected Louisiana. And I hate Louisiana regardless of my location. |
Re: The Best Business Schools In The World by Sagamite(m): 12:10am On Feb 26, 2011 |
Is this possible: [b][size=18pt]Is an MBA worth it for me?[/size] http://www.wallstreetoasis.com/forums/is-an-mba-worth-it-for-me Can someone really be making $170K dollars per annum 3 years out of university, have passed all 3 levels of CFA and still be so dumb to think he needs a Harvard MBA to achieve what he wants to achieve in life? |
Re: The Best Business Schools In The World by DisGuy: 12:38am On Feb 26, 2011 |
exactly but I reckon he might just need it later on say maybe after 5 years (i'm sure he'll be bored of environment by then) |
Re: The Best Business Schools In The World by AjanleKoko: 9:30am On Mar 10, 2011 |
Sagamite: Well, in his world, it adds to the prestige, certainly. It might guarantee him admission to the black-tie club of heavyweight fund managers. After all they're all Harvard or Wharton grads. Strictly for the networking, it's worth it to him. It's all about what someone wants at the end of the day. |
Re: The Best Business Schools In The World by Sagamite(m): 9:39am On Mar 10, 2011 |
AjanleKoko: Honestly what is he going to do with the prestige? If he is already making that much money, that means he is working for a reputable firm that makes money. Why would some forfeit $340K salary to get prestige or network and then start looking for a new job? Is that intelligent considering the number of other avenues that one can use to the two? What guarantee does he have that the people in Harvard he bonds with will end up as fund managers? |
Re: The Best Business Schools In The World by AjanleKoko: 10:16am On Mar 10, 2011 |
Sagamite: This guy's a CFA passed (not yet charterholder), plus experience. I don't think an IB or any finance job after his will be a problem for him. If I were in his shoes, I could do the same, go to Harvard, get contacts, and float my own fund. Especially if I'm not under any financial pressure, and can afford the cost. Especially if, like Dis Guy mentioned, I was bored, and fed up with my current runs. A change could do some good. |
Re: The Best Business Schools In The World by arunmeka: 7:45am On Oct 20, 2014 |
I offer MBA School selection, essay, resume and recommendation writing services. Fee is very nominal. Please contact:- Arun Meka +91-9849441092 BB: 75973261 or mail me at arunmeka@gmail.com Sessions can be online as well as personal, hence there is a lot of flexibility. 1 Like |
Re: The Best Business Schools In The World by Laclasse: 1:14pm On Jan 18, 2016 |
Nice inputs from davidif and sagamite. MBA is not really worth the stress and finance. There are lots of books free of charge where one can get knowledge for all that MBA is offering. Getting a certification could come in handy if you so much require the piece of paper. |
Re: The Best Business Schools In The World by davidif: 4:52am On Jan 22, 2016 |
Laclasse: I don't think I agree with you on that sir. I learnt accounting, finance and management in the classes I took in school. I don't think I could have learnt them by just picking up a book and reading them. It is necessary to be open minded about learning rather than being defensive and thinking that one knows it all. |
Re: The Best Business Schools In The World by Laclasse: 8:29am On Jan 30, 2016 |
davidif: That's you. It takes a lot of determination for self-learning. I know a lot of people doing online MBA these days. There are a lot of free materials all around the Web. You just need to dedicate time for these things. 1 Like |
Re: The Best Business Schools In The World by Sagamite(m): 3:43pm On Feb 24, 2016 |
Laclasse: I have foresight. http://uk.businessinsider.com/mbas-might-be-in-a-crisis-2015-6?r=US&IR=T www.ft.com/cms/s/2/d86935bc-73ea-11e4-82a6-00144feabdc0.html+&cd=1&hl=en&ct=clnk&gl=uk#axzz4161LHDcQ">http://webcache.googleusercontent.com/search?q=cache:a15YzsfuDQQJ:www.ft.com/cms/s/2/d86935bc-73ea-11e4-82a6-00144feabdc0.html+&cd=1&hl=en&ct=clnk&gl=uk#axzz4161LHDcQ The MBA is now just a nice money-making machine for universities. The risk is all on the person wey wan go pay £70K for a degree while still losing his pay cheque for the "privilege" of getting it. 2 Likes |
Re: The Best Business Schools In The World by wealthtrak: 4:09pm On Aug 10, 2021 |
davidif: 1 Like 1 Share |
Re: The Best Business Schools In The World by AlphaSoul: 11:12am On Aug 17, 2021 |
Sagamite:Very valid points! |
(1) (2) (3) ... (12) (13) (14) (15) (Reply)
Strike: FG Threatens ASUU With Contempt / Can I Get Admission For Masters Abroad With A 2nd Class Lower 1st Degree Result / UNILAG SUG Leaders Bag Four Semesters Suspension Each
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 81 |