I remember reading a post here that said w/ a regular college degree you make 1.6 million more in a lifetime, but now you only make 400k. And once you factor in cost of tuition, higher taxes... it's barely worth it. What about an MBA
MBA is waste of money and time. To be successful, a person should know how to deal with people in real life and this he learns when he actually goes out to deal with people in real life.
I business consulting MBA is a prerequisite of career progression. However, if you were in this area you wouldn't ask the question as the employer would normally suggest you take an MBA course and agree to pay for it. MBA from a good school also helps sales people move to higher-profile jobs. For example, you are a wholesale shoe salesman and you want a sales job at an investment bank. Like with many other degrees, it's not so much useful knowledge but the skills acquired as a byproduct of doing a course. In the case of MBA these skills are the ability to work under preassure (many MBA programs are quite competitive) to tight deadlines (the workload tends to be very high) and in groups (lots of group assignments). Also learning how to manage expectations and how corporate executives think is helpful too.
the problem is, with a HS diploma and the loss of manufacturing, and things like electrician/plumber going to college grads and other construction work going to illegals and the only thing left is working as grocery baggers, is that HS diplomas will make 1.6 million LESS... Seriously, the blue collar jobs are more going to college jobs and the HS diplomates are going to be left out in the cold.
an MBA is not for the education, its for the opportunity to network with future leaders and entrepreneurs.
I am not a MBA but I deal with minimum $20,000 and $100,000 investors. I was promoting real estates worth $50 million to $75 million and I almost succeeded in completing a multi-million dollars deal but it was cancelled at the last moment due to global financial crisis. So a person does not need a MBA to earn money.
I'm in agreement with mohd. An MBA is sorta worthless in terms of educational payload, but it's very valuable in terms of networking. It's also a pre-requisite to advancement in certain specific professions.