The Economist on Cost of the MBA
The Economist Wednesday had an interesting piece debating the rising cost of MBAs. Even though a recent study by the National Association of Independent Colleges and Universities has found that tuitions rose by just 4.3% in 2009–the smallest increase in 37 years–there is little chance of below-inflation increases any time soon.
Rose Martinelli, an associate dean at the University of Chicago’s Booth School of Business, is mentioned in the article, and she points out that it’s not just the cost of receiving business education which has risen; it is also the cost of providing it. She makes the case that MBA programs are now much more resource-driven than they were a decade ago, citing a new career-management center, more teaching facilities, increased use of technology and greater use of mentoring and coaching as examples at her own school.
Weighing in on the state of endowments, return on investment and cost increases at top programs, the articlesuggests that perhaps the only way to measure the true return on an MBA is by looking at its effect over the course of five or even ten years. By examining the careers of successful alumni, The Economist concludes that the rising cost of the MBA experience may not be so daunting after all.
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