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An MBA degree from a full-time program may cost $150,000 or more in tuition and two years of foregone salary. Is it worth it? What about part-time programs? Does it pay to get an MBA? This book offers the latest research on the value of both full-time and part-time MBA degrees based on surveys of thousands of MBA graduates. Topics include: - Is pre-MBA work experience necessary? - Why do part-time programs often provide higher financial gains? - Is an MBA from a non-Top 20 school a good investment? Spreadsheets are included to show you how to estimate the value of both full-time and part-time MBA degrees.
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Ronald N. Yeaple, Ph.D., former Associate Dean at the Roy E. Crummer Graduate School of Business at Rollins College, retired after 26 years of full-time teaching at a leading business school. His previous book, "The MBA Advantage," was cited and reviewed in leading business periodicals including The Economist, Business Week, The Wall Street Journal, Canadian Business, the Journal of Marketing , and the CPA Journal. The research methodology introduced in "The MBA Advantage" has been adopted by Forbes magazine as the basis for their biennial survey ranking the top business schools by the economic value of their MBA degree.Excerpt. © Reprinted by permission. All rights reserved.:
"Dad, I’ve been thinking about getting an MBA...again." My daughter Susan, a desktop publishing specialist in the executive offices of a major publisher, reached into her briefcase and pulled out a couple of business school catalogs.
"I’d really like to have an MBA, but it just seems so expensive. Is it worth it to go full-time? Or should I keep working and attend a part-time MBA program? Does it pay to get an MBA?"
For many years I was a faculty member at a top-ranked business school, where I had been teaching marketing courses and doing research on how business schools are ranked by Business Week and other publications.
Prompted by Susan’s question, I began to research the value of the MBA degree, and in 1994 I authored a book, "The MBA Advantage," that introduced a new method for evaluating and ranking the top business schools by the economic value of their MBA degrees—a method later adopted by Forbes magazine for its biennial business school rankings.
Attending a full-time MBA program is a major decision, requiring the investment of two years and as much as $150,000 or more (including foregone salary). Is it worth it? And what about less expensive alternatives, such as part-time MBA programs and Executive MBA programs and online programs. Are they worth it?
This book, "Does It Pay to Get an MBA?," examines these questions in the light of the latest research, building on the fundamental concepts of "The MBA Advantage." While financial gain may not be your primary reason for getting an MBA, it’s worth finding out whether the degree will pay for itself in a reasonably short time.
Topics in this new book include a review of the explosive growth in MBA degrees awarded over the past three decades, despite numerous magazine and newspaper articles over the years forecasting the imminent demise of the MBA. A discussion of the reasons for pursuing an MBA is followed by an analysis of recent articles—by business school professors!—claiming the MBA has no value, and why they are completely wrong.
Using data from the 2005 Forbes business school survey, the value of both full-time and part-time MBA degrees is explored, along with the advantages and limitations of each kind of program.
A new trend is emerging for those interested in full-time programs—after years of insisting that applicants have 3 to 5 years of pre-MBA work experience, a number of leading business schools are now accepting students with little or no work experience.
Analysis of the Forbes data also provides a unique view of how some schools are providing extra value to their students through superb teaching. And one of the most interesting findings of this new research is quantitative evidence that part-time programs generally provide higher financial gains than full-time programs at the same schools.
Finally, the subject of business school rankings is analyzed, with the finding that some of the rankings from even the most respected magazines and newspapers are biased and potentially misleading for prospective students trying to choose a business school.
In writing this book, I’ve tried to keep it brief and concentrate on the essentials, so you can decide whether it pays you to get an MBA.
What are my qualifications to write about this important subject? In 1999, I retired from 26 years of full-time teaching at a leading business school, having won the school’s Superior Teaching Award four times. Subsequently I served as Associate Dean and Distinguished Professor of Marketing at the Roy E. Crummer Graduate School of Business at Rollins College in Winter Park, Florida. Most of my career has been spent teaching and advising MBAs.
Prior to becoming a business school faculty member, I was Executive Vice President of a $30 million medical products company while still in my early thirties—an accomplishment that was due in large part to having obtained an MBA after completing my engineering degree.
What motivated me to get an MBA? As a young engineer working in product planning, I kept losing arguments to the accountants, who shot down my business proposals as being unprofitable. I decided to pursue an MBA so I could understand their objections and argue more intelligently. With my new MBA skills I started winning those arguments, and my career took off.
As for Susan, she went on to earn her MBA in the Executive MBA program at Rollins College. I asked her recently whether it was worth it. She said with great enthusiasm that it was.
Ronald N. Yeaple, Ph.D. Orlando, Florida
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Book Description Yeaple Corporation, 2006. Condition: New. book. Seller Inventory # M0978754107