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[INFOGRAPHIC] Is a MBA Worth It for Entrepreneurs?
We were sent this infographic recently from Tony Shin and his design team. The infographic is intended to “to help create discussion about the value and worth of an MBA and how sometimes people are misconstrued by this notion that if you don’t get more schooling, you won’t succeed. This infographic merely sheds light on the subject by showing other successful examples that didn’t need to get more schooling to succeed.” Says Shin.
Personally I have considered doing an MBA before. It seemed to be a natural path to continue on, during my consulting days. But then I wanted to get more into entrepreneurship and start-ups and figured there could be no substitute for doing entrepreneurship. However I have some very good friends who are extremely smart and have or are doing their MBA’s at the best schools in the world, like Stanford, Wharton, Harvard and Insead and believe they have gotten enormous value from doing their MBA. It really depends on the individual if it is worth it.
The infographic shows that average salaries after an MBA are remaining stagnant while tuition fees are climbing meaning it become harder for students to pay off student loans and note that 1/5 MBA graduates default on their loans.
More interestingly they looked at some of the most successful business people without an MBA like Warren Buffet, Larry Ellison and Bill Gates. And only one US President, George W. Bush has an MBA and look how he turned out. The point being that an MBA does not guarantee business success. But of course these people are the exceptions.
The ending argument, encourages entrepreneurs to spend their money building a company rather than sitting in class learning about it.
Check out the rest of the statistics and insights below.
Created by: MBAOnline.com