From bargaining for scholarships and the increasing tuition of MBAs at America’s top business schools, to an inspiring rags-to-riches story and bizarre PayPal policies, there’s a lot to share. Let’s dig into this week’s MBA news!
What you don’t know can cost you
One of the biggest misconceptions about going for your MBA is that there is little scholarship money or financial aid, beyond loans, to be had to help you offset your MBA cost. That’s a VERY expensive misconception. The reality is that, depending on your needs and merits, business schools have plenty of scholarship money to award to high-achieving students. Ever seen their endowment figures?
Our advice to prospective students applying to those top business schools: package yourself the best you can and learn the art of the bargain. Be respectful and proactive when it comes to financial aid. The worst they can say is no. (Poets … Read full post
– Alfred North Whitehead, in an address to the American Association of the Collegiate Schools of Business, 1927
In a 2005 Harvard Business Review Online publication titled How business schools lost their way, authors Warren G. Bennis and James O’Toole theorized that business schools had come to focus much too heavily on “scientific” research (deriding quotes were placed around the word scientific by the authors). This misplaced pedagogical focal point had hence caused the production of graduates (i.e., MBAs) that were ill-prepared for actual, real-world management. In Bennis’ own words, the thrust of their thesis is this:
“Most leading B-schools, in a valid attempt to become respected and respectable, had adopted an inappropriate model of academic excellence. Instead of measuring themselves in terms of the … Read full post