For years, an MBA degree has been seen as a first-class ticket to the management fast track. Some spend $100,000 or more to earn the degree, confident that it will propel their career into overdrive — and often that’s not an unreasonable expectation. To many hiring managers, an MBA on the resume is a sure sign that the candidate has long-term, corner-office potential.
To a growing number of critics, though, the once-golden MBA is quickly losing its luster. There’s a quiet revolt brewing against MBA programs, and the barbarians at the gate aren’t outsiders but rather the B-school academic elite.
When it comes to the practical value of the degree, the once-lonely voices of dissent have, in recent years, grown into a chorus of criticism. Among their accusations: The degree is over-hyped, MBA curricula are out of touch with real-world demands, and many programs have a culture that turns a blind eye to cheating. If the business world starts paying attention to these naysayers, that $100,000 tuition or the decision to pay big bucks to hire an MBA may start looking like less of a sound investment. Here’s the latest critical thinking about the MBA and implications for managers and companies that depend on them most.
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