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7 Reasons Why You Should Skip the MBA
Education is everything – or so we’ve been told. The reality is that there are many CEOs from Richard Branson to Bill Gates who don’t have a business degree but have been able to navigate a path to success. In fact, there are even some CEOs such as Mark Cuban who think you should skip college and jump right into business.
While the debate over the value of an MBA is nothing new, the rise of digital technology has shifted the favor towards entrepreneurs. Now, various lessons that were once exclusive to the classroom are available to everyone – and the experience of working in the field cannot be rivaled. Here are 7 reasons you should consider skipping the MBA to further your career:
1. An MBA is no longer a financially wise decision.
Originally, an MBA was considered an investment. But with the rising costs of college and decreasing salaries for MBA graduates, the math isn’t working out. When you consider the fact that a top notch MBA costs $150,000 – not to mention the interest from student loans – you may be better off using the same money to begin a business and learn from experience first-hand.
Furthermore, skyrocketing costs of education show no signs of slowing down. Costs in 2012 for MBA students were 62 percent higher than the cost 7 years prior in 2005.