We had a debate in class about getting an MBA from a top tier school like The University of Texas at Austin McCombs School of Business (that’s a mouthful) versus Texas State University at San Marcos McCoy College of Business. There is the perception that the MBA from Texas is better, worth more, than that from a second tier school like Texas State. I can personally argue both sides. My undergrad is from Texas, and my MBA will be from Texas State.
As we argued about the fairness of the perception, none of us debated the fact that it is a reality. Hell, if I could have gotten my MBA from Texas conceivably, I would have. But there were three things holding me back, cost being the major one. It costs upward of $90k to get a Texas MBA. It’ll cost me total maybe $15k including books to get an MBA from Texas State. Major difference there, and I have had minuscule corporate assistance.
But the argument that we are getting less of an education is completely relative. As I have explained before, I am getting an MBA because it is a goal of mine. I believe it will assist me in my personal goals, but does not make me a better marketer than someone else without an MBA or even a Bachelor’s degree. I know scores of highly intelligent people that graduated from the school of life. These people teach me things everyday, they school me even, and have never stepped in the classroom of a major institution.
So when it comes to a formal education and its value in the business world I compare it to driving a car. My analogy goes like this: Take two drivers. One in a Audi R8 (see below for other really hot cars) and the other in a Mustang Coupe (yeah … I love Mustangs, quiet), $114,000 and $21,000 respectively. Major different in price and performance of the core product. We all know that by just the product standards, the Audi could take the Mustang any day.
Any sports car driver will tell you though, it’s not the car that makes the difference, it’s the driver and what they do with what they have. Any good auto fanatic with the right experience, product knowledge and patience can turn any base model car into a demon. It’s the passion and dedication of the driver that determines how it will perform on the track and on the road.
It’s the same with an education. It’s not about the base education, it’s about the person and what they do with what they have been given. Most of the people I have ever worked for and respect are those that did their own thing. Getting an MBA or any degree for that matter does not entitle you to more money or respect. Use what you do and learn, no matter where that is, to make a difference and earn the life and respect you are looking for.
P.S. Other suggested cars to use as an example from my friends on Twitter. Thanks guys!!
- Bugatti Veyron
- Nissan GT-R
- Lamborghini Reventon
- Lamborghini Diablo
- Porsche Carrera GT
- Saleen S7
- Aston Martin V12 Vantage
- Ford GT
- 1968 L88 Convertible Corvette
3 Comments
Add Yours →Love the car analogy. So true when it comes to MBAs. I’ve been struggling myself to wrap my head around this conundrum. I’ve had advice for getting it and advice for not pursuing it. Both parties have raised valuable points. However, I think the final decision will end up being mine.
Yeah, there are bonuses both directions, it all depends on your personal goals and where you want to be personally. Good luck!!
The decision whether or not to get one is definitely a personal decision. It’s not right for everyone…as not every person can actually benefit from it enough to warrant the money and effort. I decided to get mine for my own reasons that I won’t go into here. But once that decision was made I then had to pick which school I wanted to attend. Could I have gotten into a top tier school? Yeah, pretty sure about that. But did I want a name on my resume, or did I want the experience. Those were only two of the questions I asked myself in figuring that out. Ultimately I found a school that met my needs the best. Was it a top tier school? No, not in terms of rankings. But it didn’t cost me a bazillion dollars and Im getting what I’m looking for. So it’s top tier for me 🙂