First lesson in Master of Business Administration

“You dropped a hundred and fifty grand on a f**** education you could have got on a dollar and fifty in late charges in a public library”.  Response of MBA sellers : “But I will have a degree and you will serving my kids fries on a our way to a skiing trip”. © Good will hunting.

MBA is certainly not cheap, as the cost of this sort of education was raising faster than inflation.   A two year programme cost:

  • The Wharton School – $160,000
  • Stanford Graduate School of Business –  $150,000

If you include living costs and other expenses total is around $250,000.

There have been intense brain-washing on how face-to-face is more advantageous or online or a self-education. This is mainly driven by people, who have no idea judge people’s performance, so they rely on diploma title.

Well the attendees enrolled in the programmes received their real-life business lesson this year. They demanded some of their money back when the programmes switched to online video-conferencing.  This was on grounds of “diminished educational experience”.

All major schools refuted the request.  The arrogance is screaming from their responses:

Ilian Mihov, dean of Insead, said: “We cannot comment on individual requests for fee reductions but have been flexible with payment terms and admission deadlines for students so that we can continue to welcome people from all over the world and keep the business school for the world as open and collaborative as always.”

Kellogg said: “We are confident that the value of the Kellogg degree is undiminished, and that we will deliver an excellent academic experience even in the midst of this unprecedented health and economic crisis.

Stanford “..Effectively, all students, including those paying full tuition, receive a significant discount relative to the university’s actual cost…Our endowment and other sources of revenue, which we use to supplement tuition to cover the cost of education, are now greatly challenged because of the pandemic crisis.…We believe the value of a Stanford education and degree, whether in-person or remote, continues to greatly exceed tuition.”

What is the lesson here? Read the books, seek out for the online courses, don’t go after name. Its not worth it. Your thoughts or MBA worthiness?