Rantings and tirades of a frustrated economist.
Juice article for you:http://heterodoxacademy.org/2015/11/24/the-yale-problem-begins-in-high-school/
CAPT is right, and this warning extends to all business schools. The absolute worst part about attending any business school is that they *all* (students + professors) think they are a Harvard/Wharton. Not saying Harvard/Wharton are worth anything, but to a degree, at least the public knows their game, which is the rich and well-connected helping other rich and well-connected. On the other hand, at every other school, you have a good percent of the student body who believes they are guaranteed a $100k+ a year job right out of the gate. This is sad to see in undergraduates, but even worse in graduate students, especially those with the 5+ years of work experience that some schools stupidly want to see. The reason they want you to have half a decade or more of work experience is that they are teaching you the same bullshit they teach undergraduates, but on a lower level (oh, with more "teamwork," cause that is soooo important), so they hope time will make you forget that fact.I hated my undergraduate business education, but I loathed my graduate one. Sadly, I walked into it "eyes wide open" not expecting much, so I can only imagine how disappointed someone "excited" or "looking forward" to the experience would feel. And I went from a complete shit, crummy tiny state undergrad (with like a $XX million endowment) to a "big ass" graduate school just like Carlson/University of Minnesota (with a $XX billion endowment). It was like stepping back into middle school, for a lot of reasons. The worst was that attendance was a large part of the grade in *every* class (like literally, they would call out names each time or do stupid shit like ask each student a question). I remember getting C's in some classes that I had an A in to start with, but then the "attendance grade" came into play. Childish beyond belief...
Financial Times MBA rankings: 83rd (worldwide). Who chants, "We're 83rd! We're 83rd! We're 83rd!". (http://rankings.ft.com/businessschoolrankings/global-mba-ranking-2015)Other Big Ten: Wharton (Penn State) 3; Ross (Umich) 24; Krannert (Purdue) 48;Kelley (Indiana) 62; Fisher (Oh State) 69, UIUC 71. These are probably best case, since MBA programs are money makers, and schools invest in them and game the rankings.
I hate to tell you, the likes from Wharton and Princeton are shit too. Least the ones that HR hired were. I worked management at a fortune ten comm company at the time. These fucks thought all they had to do all day was crank spreadsheets. I grabbed them up off their ass, shoved them in the IT lab and told them to not come out till they had the base metrics in hand first. The graphs were pretty, the report format glorious, the reasoning flawed and the correlation to why we even did the exercise missing. Most would quit before the probation period was up. And dear God don't ask them to pull a data cable....
On Aurini's Black Fridays Matter Live Stream around 27min he suggested that you research what percentage of dildos are purchased by "men". I think it would make a good video if you just researched how many men in the United States are liberals, and then assume a .9 or so correlation.
I have a friend who just started her MBA program. Attended a prestigious undergraduate school, but majored in something worthless, so she wasn't making a lot of money (neither was her husband). Recently started her MBA program. I gave her the attempt to cast some doubt in her decision to go, obviously didn't work. So hopefully it works out, though I have my obvious concerns.
Anonymous,I have no animus against MBA programs per se, depends on the individual. But no I am not impressed with the Ivy tie. My first observation is to anybody considering it -- does your current employer have skin in the game, aka paying the bill for it. Mine did and it made a difference. One should also ask who the instructors are, their professional backgrounds and longevity in their field. Not specifically whether they have a PhD in economics.
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