Created by: MBAOnline.com
More People Are Seeking MBAs Now
Most Popular Master’s Degree, Women:
- Business Administration 11.4%
- Education 5.1%
- Social Work 4.2%
- Elementary Education 3.8%
- Curriculum and Instruction 3.6%
Most Popular Master’s Degrees, Men:
- Business Administration 22.3%
- Electrical Engineering 2.8%
- Educational Administration 2.7%
- Business/Commerce 2.5%
- Education 2.2%
156,200 MBA degrees are awarded annually – More than 3x the amount of undergraduate engineering degrees awarded
300,000 STUDENTS ARE ENROLLED IN AN MBA PROGRAM EVERY YEAR
MBA Programs Are Expensive, the average tuition cost for a 2-year MBA program is 82,147
Tuition from some of the top 100 business schools:
- Harvard – $112,000
- Stanford – $110,000
- Columbia – $115,000
- Yale – $105,000
- NYU – 97,000
- Notre Dame – $84,000
- Miami – $78,000
- UC Davis – $69,000
The costs after books, housing, and other expenses puts the total cost at: $120,000. And steep tuition is continuing to climb further while salaries stay stagnant. Meaning it will be harder to pay off loans: For a 10 year repayment plan, graduates will shell out $1,300 a month after interest and fees
- One in five MBA graduates default on their loans
- 40% of graduates rely on their parents for loan assistance
- MBA Students Gain Little Over A Lifetime That’s if they can even land a new job…
- 50 Percent of Graduates get Job Offers (All MBAs)
Lifetime Earnings:
- High school Diploma $1.6 Million
- Bachelors Degree $2.3 Million
- MBA $2.4 Million
12% OF MBAS END UP AT THE JOB THEY LEFT
Less people are hiring MBAs
MBA Unemployment Rate:
2008 7% I-
2009 10% /—
2010 12%
2011 14% 1—
And only 13% will get that consulting job they want.
Industries Among the Class of 2011, by All MBA Programs:
- 26% – Products/Services
- 24% – Finance
- 16% – Consulting
- 12%- Technology, Government/Non-Profit
- 8% – health Care, Manufacturing
- 4% – Energy
Only about 1 out of every 4,000 alumni of top 10 MBA Programs are among the highest-paid executives.
A high school basketball player has a NW better chance of getting into the NBA
An MBA Isn’t A Requirement For Success – 64% of CEOs of the top 100 Fortune 500 companies do not have an MBA
Successful People Without an MBA:
- Jeff Bezos – Amazon $18.1 Billion
- Richard Branson – Virgin $4.2 billion
- Larry Ellison – Oracle $36 billion
- Bill Gates – Microsoft $61 billion
- Warren Buffett – Berkshire Hathaway $44 billion
Of all US Presidents, only 1 has an MBA: George Bush
The Cost Starting A Business Is Only A Fraction Of Tuition For An MBA
Revenue after the first 2 years
- Ebay- $47.4 Million
- Facebook – $48 Million
- Google – $86.4 Million
- Amazon – $147.8 Million
- Groupon – $713.4 Million
Instead of spending 2 years in class, entrepreneurs are busy starting wildly successful businesses. Starting a business and creating an iphone app costs about $5000 – 5% of what it would cost to get an MBA at Harvard.