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Is an MBA from a non "Top 10" School not worth it?

Figure out where you wish to apply
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Junior | Next Rank: 30 Posts
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GMAT Score:660
by Purusha » Fri Aug 20, 2010 6:56 pm
Hello,

I am in the process of applying to various MBA programs. I have talked to several people over the past few months (professionals, professors etc.) and the gist of what I got was that going to a non-Top 10 school (Harvard/Stanford/Wharton) for an MBA is a waste of time/money/energy.

Can someone chime in on this "advice"? I am an entrepreneur in the Bay Area and my Bachelor's degree is in Physics. I have a varied background (taught at a private school for a year, worked at Smith Barney for a year, and started my own internet technology company).

I want to continue being an entrepreneur as that is my passion. I am in Silicon Valley, California which is the heart of entrepreneurship of the world (at least for now).

My main purpose for the MBA is to learn the ropes of management and business in general. I've learnt several things in business the hard way but I've learnt nonetheless.

Stanford seems ideal as it is minutes from where I am and of course, Harvard, is the cream of the crop. Yet, where should I apply as a backup? What are the best schools for entrepreneurship?

Plus, I would like to discuss the veracity of the claim that getting an MBA from a non-Top 10 school is a "waste of time".

Please let me know your opinions on this.

Thanks.
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by Jessica@VeritasPrep » Sun Aug 22, 2010 6:07 pm
It truly depends what you are looking for. If you are purely seeking knowledge, I believe you can get this at a non top-tier school (even taking finance courses part time at a local community college could be beneficial). However, this doesn't give you the pedigree that a top school would provide. It also won't provide the same network or access to recruiters/job placement.

Stanford is arguably the most difficult business school to get in to, but, if you are in the bay area you could look at Haas (still very difficult and considered "top tier" but slightly more realistic than Stanford). Stanford has a great program for entrepreneurs (as does Booth but I'm biased as that is my alma mater).

Most people that go to business school are primarily looking at how much "better" of a job he/she will get after school and use this to calculate an ROI (and think in terms of salary and life long earning potential). If these are your parameters, I tend to agree that your ROI is much higher at a top-tier school (perhaps top 15, not top 10). But, this is a simplistic way to look at what you "gain" from business school. I would never say that education is a waste of time/money/energy (but, given my personal situation, I wouldn't have given up my job and taken out loans to go to a non top-ten school).

I know that isn't the most helpful response, but, without knowing your exact situation and your personal desires, it is the best advice I can give!
Jessica
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