If you’re wondering if an MBA is useless, you’re not the only one. There has been a steady decline in MBA admissions from top universities, such as Columbia Business School. Before applying for an MBA program it’s important to ask difficult questions such as: Is an MBA a waste of time? And, will an MBA provide a solid ROI or is it a waste of money?
Historically, MBAs provided business professionals with the knowledge and network to move into management positions or to start their own company. However, in the post-COVID era, the value of a traditional MBA degree has gone down. The good news is, if you’re still interested in improving your business knowledge and network, there are great MBA alternatives that provide similar knowledge and opportunities in less time and for less money.
In order to make the best decision it’s important to go over the reasons why a traditional MBA is a useless waste of time and money, and why MBA alternatives are the better option for busy professionals looking to advance their careers.
The MBA is useless because it is a waste of time
A traditional full-time MBA takes two years to complete. The curriculum and course load make it difficult to have a job while studying full-time. If you want to keep your job while getting an MBA, part-time programs may seem more appealing, but they can take three to five years, making the MBA a waste of time.
MBA programs are designed to train the next generation of corporate executives, but the degree itself doesn’t guarantee that you will achieve a high-paying job or a leadership position. In fact, there are over 200,00 MBA graduates each year, making an MBA a non-standout feature on a resume.
An MBA degree is especially a non-standout if it’s not from a top tier university. Hiring managers are less interested in candidates with online and lower tier MBAs because the quality of the education and coursework is much harder to determine.
While you are in the classroom studying business methods, your peers are actively applying them and advancing their careers in desirable fields. You can easily fall behind, making the MBA degree useless and a waste of time.
The MBA is useless because it is a waste of money
A traditional MBA from a top tier university costs $200k. The ridiculous sticker price makes an MBA a waste of money.
The possibility of making enough money to offset the cost of an MBA is far less likely today, compared to a generation ago. The cost of tuition for MBA programs has gone up significantly and wages have stagnated.
MBAs do not guarantee an increase in salary. Factors such as specialization and profession, as well as the school’s reputation, have an impact on your future, post MBA earning potential.
The MBA is useless because it is outdated
The MBA curriculum is useless because it can not adapt fast enough to new trends and technological advancements. MBA courses teach a lot of theory and legacy business methods that are not relevant for the current workforce.
Since MBA degrees require a broad range of core courses, students will spend time, money, and effort learning outdated business skills that they will never use or need in their career. Many tech employers believe that the MBA curriculum doesn’t meet the fast paced requirements and uncertainties of a fast-moving environment.
Furthermore, if you want to work in technology, an MBA will not provide you with the right skills. Hundreds of business school leaders surveyed by the Association of MBAs concluded that the MBA curriculum needs to be significantly changed if it is to prepare graduates for careers in the technology sector.
76% of tech leaders believe that the MBA curriculum needs to change in the next 10 years in order to adapt to the modern business landscape. MBA leadership knows that the curriculum is outdated, but it’s difficult to make drastic changes within the highly bureaucratic education system.
The MBA is useless because MBA alternatives make more sense
MBA alternatives provide the necessary tools and network to succeed in business careers. They are highly targeted business programs that are meant to hone executive skills and boost student’s business confidence and credibility. They are a fraction of the time and cost of a traditional MBA.
MBA alternatives can be completed while working full time. The curriculum is often updated to fit the current needs of the global business market.
One of the most promising MBA alternatives is the Business Intensive.
Business Intensive, at a glance:
Length: 7 Weeks
Format: Fully online
Cost: Starting at $1,499
The 7-week course teaches 8 core business skills including: strategy & finance, pricing, web development, marketing, and sales. Brunchwork has significant connections in a variety of different fields, providing students with great networking opportunities.
Students will finish hands-on projects including:
• Develop and test a business strategy
• Run a market sizing, revenue growth and competitor analysis
• Pitch a business idea
• Conduct user interviews
• Build a no-code website
• Analyze financial reports and models
• Develop and execute a marketing and sales plan
There are live weekly guest speakers. Past guest speakers include: Andrew Yang, PayPal Founding COO David Sacks, Ellevest Cofounder and CEO Sallie Krawcheck, product gurus Jackie Bavaro and Gayle Laakman Mcdowel, and Peloton Cofounder Graham Stanton.
The Business Intensive transforms students into active business leaders. The course was named by Forbes and intelligent.com as the best online business course.