Top MBA for $150K?

Graduate School Business School - MBA
1

<p>So the going rate for a top MBA (Harvard, Stanford, Wharton, etc.), with tuition, living expenses, health insurance, etc. -- is $150K, plus opportunity cost.</p>

<p>There are very few scholarships or fellowships. Most have loan forgiveness if you work for a nonprofit. (They pay the minimum on your loans as long as you work there.)</p>

<p>That's a HUGE amount of money.</p>

<p>Even if you get in, if you aren't seeking a Wall Street/corporate job, is it worth it? Especially in this economic climate?</p>

2

<p>If you don't want a Wall Street/Corporate Job, what kind of a job are you looking at?</p>

<p>Obviously, it would be very hard for us to gauge if a MBA is worth it for you given we know nothing about your employment situation.</p>

<p>Btw, MBA applications rise during hard economic times, so obviously many people think it's worth it during such a climate...</p>

3

<p>It's worth more now for the average applicant to go back to school because the opportunity costs are lower right now (harder to find a job, harder to advance, and harder to make money due to the economy). If you believe this climate will continue for a long period of time then obviously that would change things.</p>

4

<p>Looking at technology product management jobs and at technology venture capital.</p>

<p>I do think the economy will be down for a significant length of time: the rise of China, globalization etc. will end America's exceptionalism.</p>

<p>What do you think?</p>

5

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<p>Do humor me. How does Globalization affect "America's exceptionalism"? And btw, if you didn't know the Chinese economy has taking a huge hit too.</p>

6

<p>Globalization makes America's unique advantages less unique. Our access to technology and markets, for example, is not as singular as in the past.</p>

<p>The hit on the Chinese economy is, in my view, temporary. They have a 35% savings rate while ours is only 1% (need to check these figures, but they are in the ballpark). They can afford a hit. We cannot.</p>

7

<p>^ They also have huge levels of unemployment. In fact, America can afford a recession because of the relatively low unemployment levels. The Chinese economy needs the 9-10% yearly growth to keep unemployment from creeping up (I'm saying that the Chinese govt could potentially face more social unrest than the US govt over an economic downturn).</p>

<p>Globalization could also make America's advantages more pronounced depending on the way you look at it.</p>

<p>And about the savings rate, ya that's certainly a positive for the Chinese (I'm just going by your numbers, not sure what the exact rates are but something tells me they are better than America's). Also, the American economy cannot afford to have a 35% savings rate as the GDP numbers are driven primarily by consumption ;)</p>

8

<p>I think one thing people don't realize is that the Ivies don't pay your way--that is, give you the assistance above the EFC contribution when you go there for a masters or PhD program (unlike how they will assist you if you are there for a bachelors degree).</p>

<p>Accordingly, the $75,000 per year cost (actually $77,000 per year starting in Fall 2009 according to the Harvard website) for two years is really quite steep--especially if you are still paying off student loans from your bachelors' program.</p>

9

<p>Calcruzer, I think a lot of people who apply to MBA still have student loans from undergraduate. The ROI of getting a Harvard MBA is huge. The applicants hope that with the degree they can pay off their loans sooner rather than later.</p>