MBAs – What are they good for?

If everyone has an MBA then what’s the point? The so called ‘fast track’ will simply become a main highway, clogged up with people going slow in the outside lane There’s been a lot of discussion around the world recently, about the proliferation of MBAs. Many people believe that too many educational institutions are offering too many MBA programs, and too many ‘would be managers’ are lapping them up in an effort to get themselves on the ‘fast track’. If everyone has an MBA, they ask, then what’s the point? The so called ‘fast track’ will simply become a main highway, clogged up with people going slow in the outside lane. Others, noting the plethora of programs, question whether they’re all up to the mark. The Australian Graduate School of Management’s Dr John Toohey for example, has gone so far as to call for government intervention to control the MBA market. He wants to ensure that the ‘quality of the degree and the overall perception of it’ are not ‘undermined’. So, are MBA students getting what they paid for? Well, it depends on what they thought they were buying in the first place. Which begs the question: exactly why do large numbers of people – who appear otherwise to be quite sane – voluntarily give up large chunks of their hard earned, and even larger chunks of their lives, to get an MBA? The short answer is that they want to have a better job, and get paid more money. All of the hundreds of different opinions and survey responses and beating around the bush won’t change that one truth. MBA students are, by and large, people who want a better long term quality of life, and are prepared...