Wednesday, 15 April 2009
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Harvard Business School: Is An Education At HBS Really That Good?
Harvard Business School sent out one of their recruiters to BYU today for an hour long presentation about the HBS 2+2 program. I couldn’t miss the opportunity to learn a bit more about how an MBA would better my career, specifically an MBA coming from Harvard. I attended and was impressed with what I saw.
The presentation began with the recruiter showing off HBS’s graduates, naming a number of well-known indivduals that have done some signifcant things. I wasn’t surprised by the caliber of graduates; after all, Harvard has a world-renowned business school.
We then talked about the “2+2 program,” a new program that Harvard is promoting, allowing college juniors to go through the admissions process early, saving them a spot at HBS if they get admitted. She then spoke to the seniors, ellaborating on the fact that you don’t have to get 1-3 years worth of work/leadership experience to apply. Harvard has a real desire to snatch up the best college seniors now.
A good friend of mine has already gone through the application process and was just recently called back to Boston for an interview. He recently scored very well on the GMAT, which opened his eyes to the potential opportunities that are available to those who test well. He looks good on paper too, and I have a good feeling that he’ll be admitted.
Is A Harvard Business School MBA Really Worth It?
The average debt incurred within two years of HBS is well over 100k. To me that’s a lot of money. But that 100k isn’t even accounting for the opportunity cost of putting off work for several years. The total cost of an MBA is far greater than 100k coming out of a school like Harvard. Is it really worth it?
Truly if you have the credentials to go to such a place as Harvard Business School, wouldn’t it be worth the expense? The median 1st year pay of a HBS graduate is well over 100k. The recruiter did a good job to illustrate that the benefits of a HBS MBA were far greater than the monetary gain in your first few years out of school. Having those types of credentials at any point in your career would act as a catalyst for whatever it is you want to do, whether you’re going into science, medecine, non-profits, start-ups, or the corporate route.
I left the room convinced that an MBA was a good thing, especially coming from a place like HBS.
What’s Your Take? Is An HBS MBA Worth The Debt?
I’m still not sure what I think. They say that there is a lot of “risk” involved with getting an MBA, especially considering the economy and the massive debt that you’ll surely incur. My good friend that will be interviewing in the next month seems to think there is almost no risk at all, claiming that a MBA from Harvard Business School is going to pay for itself numerous times over. I don’t think I can disagree.
The other side of this arguement is that you don’t necessarily need an MBA from a school like this to end up in the position you may be looking for in your career. If you work hard, network well, and do exceptional work, you’ll find yourself in leadership positions without the aid of a top tier MBA.
What do you think about getting an MBA? For those of you that have MBAs, is it worth it? Do you think a MBA from Harvard is much different than a MBA from a less prestigious school? What about the debt- is it worth it?
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Comments (6)
I'm in a very similar dilemma right now, and I believe that the risks are worth it. The job prospects are worth the costs.
When you graduate from grad school, you enter a group of people who just did the same, with the same degree. What makes you competitive is your internship opportunities, your GPA (in some instances), and your school's prestige and connections.
It's worth it, if you are lucky enough to get the opportunity while also being lucky enough to be able to afford it.
@IntrospectiveOctober@xanga - Yup, it's all about the connections someone could make.
It could be a great asset, but it isn't the end all, be all. After all, amny mega millionaires earned their fortunes without an MBA from Harvard or any other school for that matter.
It's also interesting to note that HBS rejected a young Warren Buffet when he applied. I guess they didn't think he had the right stuff.
if you don't want to go in debt and not all about the prestige harvard offers, i'm sure you could get a similar degree from a much affordable college and i'm sure the pressure at harvard to do well is incredibly hard, as well as the course work, so it would really be something you would have to be able to handle well and be prepared for...i've never even considered harvard b/c that's not my cup of tea
depends on the person.
i never thought so