Its an age old question. The WSJ and smSmallBiz.com offer this piece, Starting Up: Is B-School Worth It?, by Diana Ransom. The article highlights some of the pros and cons that B-School presents to those who want to be entrepreneurs.
However, the degree is also costly. Tuition alone ranges from about $4,000 to over $40,000 a year, according to Peterson’s, an online education-services company. Many students take on hefty loans and wind up in serious debt upon graduation. While MBA candidates planning corporate careers can count on higher salaries to pay it back (some skip the cost entirely when current employers foot the bill), entrepreneurs who are technically “self-employed” don’t typically enjoy such luxuries.
2 responses so far ↓
1 Tim Berry // Mar 3, 2008 at 4:22 am
Thanks, good link. Amusing though, the idea of measuring the MBA in dollars. I acknowledge that a lot of people think in those terms, but I think education, even business education, is about a lot of values that don’t translate into monetary units.
Tim
2 Campus Entrepreneurship // Mar 3, 2008 at 12:43 pm
Hi Tim,
I agree on the measurement point — doing some kind of opp cost analysis is too simplistic. As you point out, much of career/job planning and the decision to become an entrepreneur is based on non-monetary attributes/benefits (flexible schedule, control, vision, challenge, etc)
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