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Wednesday, January 09, 2013

Diminishing Value of the MBA & How Credentialism Hurts the Economy

Children are told they have to get a college degree to succeed. College graduates are told they need a masters degree to stay ahead. Have you been told that?

At 29, I'm surrounded by peers who are seeking a masters degree to stay ahead of the curve. I'm not surprised by the Wall Street Journal article titled, "For Newly Minted M.B.A.s, a Smaller Paycheck Awaits"

Higher eduction has become a racket in the US. This is reveled anecdotally through the above WSJ article.

  1. Dean of MBA program makes $350,000 a year while graduates from his program can't find jobs.
  2. Dean believes MBA remains a 'terrific investment."
  3. Dean acknowledges that "When I get a budget cut, I think about starting a new program," he says. "If we can do it really well and generate a lot of money, we can pour it back into our core business, which is undergraduate education."

I believe ability to learn is one of the most beautiful gifts God has given us. I hope all of my children develop a love for learning and become masters at a trade or disciple that they love and can support themselves through.

However, paying too much for paper that says one is "qualified" could be one of the many things causing the US's standard of living to stand still or decrease. To create balance, tuition should be linked to students being able to get a job in their fields. Why should colleges tuition continue to grow, and at the same time, not produce results?

Do you have a college degree or above? Do you think it's worth what you paid for your education? Do you plan to go back to school? If so, share your plan to avoid this pitfall of too many "over-qualified" people looking for jobs in our bad economy.


Anonymous said...

Please! Is "credentialism" a word?

Ruth said...

Credentialism: Overemphasis on diplomas or degrees in giving jobs or conferring social status"

...instead of actual knowledge or skills.