MBA - what does it teach?

[Luthor Rex]

I've been thinking about persuing a MBA degree, but I'm not sure if that would really fit my long-term goals. I was hoping maybe others here who have gotten the degree could tell me exactly what it is you learn going through such a program?

Here is my personal situation: it has come to my attention that I don't know nearly enough about how money works. My long term goal would be to get to a point where I don't have to depend on others to generate an income (be someone's employee) but rather be able to generate enough income on my own so that I can maintain a 'reasonable' lifestyle*.

Yes I am reading on my own about how money works and investing and generation of income and whatnot. But since I know so little I feel a bit lost like I don't have a map or even street signs. Even if an MBA couldn't teach me the exact things I would need to know, could it at least point me in the right direction?

Thanks..

*By reasonable I mean, have a house in an area with low crime. Have a car and heath insurance and groceries and not have to worry about not paying bills. Basically a middle-class lifestyle minus the job. LOL

 

[Bible_Belt]

I thought about the mba and ended up not doing it. mba teaches you to manage money for corporations, which is far different than personal finance. af's gf has an mba and is a project manager overseeing millions of dollars, yet her own personal finances are horrible.

Assuming you don't aspire to be a corporate manager, you can learn all you need to know on your own. You don't have to learn every kind of investing, either. There are self-made real estate millionaires who are completely ignorant of the stock market, and vice-versa.

 

[~attrACTION~]

Luthor Rex, we may have had our disagreements in another thread, but I really think you should read this blog: http://joshkaufman.net/personalmba/

you can learn all you need to know on your own.

Basically. This blog is not mine or anything, but I think you will find it very relevant.

 

[Francisco d'Anconia]

...Here is my personal situation: it has come to my attention that I don't know nearly enough about how money works. My long term goal would be to get to a point where I don't have to depend on others to generate an income (be someone's employee) but rather be able to generate enough income on my own so that I can maintain a 'reasonable' lifestyle*....

BRAVO! Just acknowledging that there's another way will put you way ahead of the curve. I wouldn't necessarily put down the value of a MBA quite yet, there are still aspects of it that can be beneficial in the long run even aside from understanding how to make money as opposed to earning it.

The MBA will earn you connections; important connections. These are the people in business who are in the know. You will also learn about economics and better yet, world trade. Add to that the financial aspect. How many regular BA's do you know that understand a financial statement? This is just tip of the iceberg. Sure, you won't earn money like everyone else but you will need to know how to manage it appropriately after you make it!

 

[CGE333]

I have an MBA from a pretty well known school. If you are looking for personal finance info, you won't find much in getting the MBA. On the other hand if you are looking to start a business, etc., many MBA programs offer a specialty in Entrepreneurship. Plus, my personal experience from the MBA is the people you meet that can help you reach your goals. You will probably be in school with smart people that have similar goals to yours. There is a good chance you could put your heads together and do a business together.

 

[TooColdUlrick]

in a famous long term study by The Boston Consulting Group...you can probably find it, it's long winded...

BCG hires Top 10 school MBAs, mostly Harvard. their internal study (of their own consultants) was with those that had MBAs versus those that didn't, just undergrad and went through BCGs two week training program.

Measuring things such as advancement and promotions (at BCG), performance evaluations, and salary (and a few other metrics), their finding was that...

There was no difference.

Two week training program vs two year MBA at Top 10 Schools.

Quite a scathing indictment of the MBA. It's a massive revenue generator for schools. You would be way better off taking Open University (every college has a program like this) business courses for $300 each, at night.