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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Master the Art of Business
Want to go into business, but have no idea where to start? Business school seems like a tempting prospect, a place where all the knowledge and contacts you need are simply handed to you – but is it really your ticket to success?
It has to be, right? Otherwise why else would people pay so much for their MBA? Business school is expensive, that’s for sure – the top 15 MBA programs charge up to $53,208 per year for tuition. That’s not even including fees, loan interest or living expenses!
What if we factor those into the equation, plus the opportunity cost of lost wages too? Turns out there are eight different US business schools where the cost of an MBA exceeds $300,000.
“Wait,” you might think, “surely not all business schools are that pricey!” True, however, any student who holds an MBA has an average debt of $41,687 (again, without accounting for additional expenses).
OK, so business school costs a lot. Is this what the educational experience is worth? Short answer: nope.
In the long term, an MBA does nothing for your career. If it did, a master of business administration degree should correlate with measures of success, like an increased salary, or promotions to higher level positions. And it doesn’t.
Researchers from Stanford University and the University of Washington conducted an extensive study into the matter. Analyzing 40 years’ worth of data, they found that there is no correlation between long-term career success and possessing an MBA, whether you graduated with flying colors or just scraped a passing grade.
So if business school can’t make your entrepreneurial career blossom, what can? Well, you can learn a lot from experience, and from your own research online – or from books like this one.
The Personal MBA contains everything you need to know in business. Today, true business leaders are forged through their own experience and personal research, not in universities. From developing your idea to sealing a deal, these blinks guide you through the entire process of becoming a self-made business success story.
Business school is a big risk...the only certainty is that you will shell out about $125,000. – Wharton School of Business graduate.
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Try Blinkist to get the key ideas from 7,000+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trialBlink 3 of 8 - The 5 AM Club
by Robin Sharma