What a $100,000 MBA will do for you - from INSEAD, Wharton, Harvard, Oxford, Cambridge,...
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- Опубликовано: 13 июн 2024
- What good is getting an MBA degree from a top tier business school? And can you get the same results without it?
Here are the five ways an MBA can change your life:
00:00 - Intro
01:31 - Not better answers, but better questions!
02:36 - Learn to Perform Under Pressure, within a safe environment
04:00 - Which doors to close, or: Dealing with FOMO
05:04 - The ties that bind - Your new BFF (or BBF)
05:53 - At the top of your funnel
Looking back at what I got out of spending $100k (tuition and living expenses) on a one-year MBA program at INSEAD.
David S posted a comment but then seems to have deleted it… he wrote: “Common sense read a business 101 book! MBA is not necessary. Profitable companies need technical experts every step of the way from accounting to finance to project manager and delivering on time products to standards. Jack of trade degrees are garbage.”
Well, dear David, you don’t technically need a Driver’s License to drive a car, either. In fact, I’ve had driving instructors who I wish wouldn’t be on the road, given their skills. And yet, society clings to frameworks and filter mechanisms that communicate the ability to operate at a certain level. That’s what an MBA is; nothing more. That business 101 book… who wrote it, how deep does it go, does it give you a safe environment within which to try things out, experiment, fail and learn, does it let you track progress, exchange yourself and learnings with others,…?
Thanks for making this video! Just got offered a seat at INSEAD 's Master in Management, and the ambiguity of what awaits me next year is absolutely terrifying. So hearing thoughts and insights from someone on the other end of the journey definitely feels comforting.
That is so cool, Soumia! Congratulations!! Let me know if I can help in any way, once the initial excitement has settled and you are able to see clearly again (been there, done that). And if you decide to go for it: It's a charged year, but don't let the ambiguity bring you down. Very excited for you!
Thank you so much Christian for this very honest and helpful perspective into your MBA journey. And sorry that it took a toll on your personal life. Best Regards
My pleasure, Raj. I'm glad it helped and wishing you all the best as well.
Very informative and well put together video. Thanks a lot for sharing your insights!
Thank you, Annie, and I'm glad you found it helpful.
MBA is not an education, it's a club. The $100,000 you pay, is your club entrance fee.
The skills of working under pressure, as a team, with a goal first mindset, etc. Those are life skills obtainable for no cost, typically by doing things that involve pressure, diverse people, conflicting personalities, and long term goals. One does not need to enter into an education system of any kind to learn these skills, one simply has to push one self. Sadly, that is not in the character of the majority of young adults I meet these days.
That aside though: Why should one pay money for an education you can get for free?
The answer is simple: If you don't pay your club fees, you don't belong to the club. Meaning that the club members are unlikely to do business with you.
How do you get around this:
Here too, it's quite simple: Push yourself. Demonstrate success through personal education.
Unfortunately though, you'll learn there are a few things covered by most formal MBA institutes, that one can not truly learn by one self.
Those things include:
- How to view your fellow human beings as objects, and treat them like slaves.
- How to lie and deceive your customers, with zero consideration for how that injures them and their loved ones.
- How to re-arrange your life in such a way, that even your loved ones take a distant second place, to you showing more profit than before.
- Indoctrination into the mindset that money is more important than your moral-fiber and ethics.
- Clarification around the principle of: If something is not explicitly illegal, it is encouraged! So make profit any way you can, regardless of morals and ethics, until such time as what you are doing, becomes explicitly illegal.
If one views an MBA as an education program, the course should be titled: Effective negation tactics for selling your soul to devil.
Interesting.
For the five things you mentioned, speaking for myself, they do not apply to me: I enjoy building businesses that don’t throw others under the bus. I also have left a job in my career specifically because it didn’t meet my moral standard. My family comes first, and I treat my job accordingly. And I hold an extremely high standard towards how people treat each other, and me.
I’d love to understand what informed your generalisations. Beyond your own impressions, would you have any data to back those statements up? And by the way, you are totally entitled to have your own opinion as you pointed out here. Just know that you’ve come across at least one MBA graduate where none of these statements are true.
And then: could you learn any of those ‘things’ truly by yourself? For sure! It’s the definition of a narcissist.
The 100k as the entry fee to a club… you don’t actually have to pay it. There is a myriad of ways to have scholarships and bursaries pay for your “entrance fee.” And it’s less of a club and more a ‘qualifier,’ basically a filter mechanism that could serve as a proxy for other organisations and companies. Paying your way into that or “through” that is quickly found out, and doesn’t account for much. Quite the opposite, actually.
I’m sorry in case you’ve had a bad experience with someone who has an MBA or even an MBA institution. We are all humans in here as well, looking for a ‘better way’ to leave our mark, with integrity, in this world. That doesn’t make us the devil, though, at least not across the board.
In any event, wishing you all the best.
@@schoepke Please refer to the qualifying statement quoted from my original post:
"Unfortunately though, you'll learn there are a few things covered by MOST formal MBA institutes, that one can not truly learn by one self."
Please show me an MBA course that covers the subjects of ethics and morals, as apposed to: Here's the law and what one can get away with, without lawyer fees effecting your profit margin.
Consider the teaching materials you've had to deal with, recall the countless case studies. Dig down and strip them bare to their most basic concepts.
There is one over-all message: You exist to serve the stock holders, they are your collective god. Their interests outweigh the interests of all other human beings. Including your own.
Recall what you learned about marketing, accounting, legalities, etc.
With marketing the message is: How to lie and get away with it.
With accounting the message is: How NOT to pay tax.
With Legalities the message is: How to bend the law to your own purpose.
Show me but one MBA course where one is taught that the lives and livelihood of people who are not stock holders, should be considered and ETHICALLY dealt with, and I might change my mind.
However, do take the time to examine the business world at large. Take a long, careful, unbiased look.
You won't have to dig much. In fact, all you'll have to do would be to consider recent history with respect to the pharmaceutical industry. The answer to your questions are all there.
And it all boils down to one thing:
When corporations are legal entities, those who serve said corporations divorce themselves from social responsibility. Through the simple mechanic of hiding behind the protection afforded by the fact that the corporation will suffer the consequences, rather than themselves. The fact that especially large corporations can easily survive even global public relations disasters, serves only to re-enforces this mechanism.
Examine the blatant human rights violations supported by smart phone manufacturers world wide. While their customers can't wait to purchase the latest model, and you'll get a rather good idea of what I'm alluding to with the above.
Good luck with your endeavors though. I sincerely hope you can change the existing scene.
Welcome to American capitalism
Extremely well thought-out content and well presented!
Thanks for your feedback. I really appreciate it, then and now! ;-)
Thanks for making the video! Definitely helps with the uncertainty of the latest application season. bb
Thanks for your feedback and vote of confidence on this one. Check out some of the post-MBA interviews I launched over the past month, on the definition of 'Making It!'
Took MS after two failed attempts for MBA. Just the application process taught me so much and even in MS program, we get to do only two out of three things you mentioned
Thanks for your feedback again. I hope it all worked out in the end.
Great video 📸 it motivated me more am planning for HBS or UT Austin MBA in finance
Thanks again for your feedback. Where did you end up going?
Hey, I'm excited to start my class in Fonty in Jan next year! I just want to say your video is super informative, and thank you so much for doing this! And hope the divorsead part won't happen on me haha
Hi Cui Kane, that is indeed very exciting. And I have to admit: a little bit of envy in my part. It is an amazing experience!
Thank you for your feedback-I’m glad if it helped. Divorsead… well, it comes down how strong your relationship is going into it. Under pressure, small cracks get bigger. Regardless, I wish you and who else might be joining you a fun-filled, enlightening and prosperous experience, and for your relationship to flourish throughout that period.
Hi, i am 35 and feel that I have hit the glass ceiling in my current job (on total I have 11.5 yrs of job experience -2.5 with 1 earlier company and 9 in my current one). There is lot of stagnation for last few years. I am considering to apply to insead, but to be honest I never thought abt pursuing a career in consulting or finance or other mba streams ( I am a civil engineer by education ). I am not sure if I will get in, but will they even consider my application positively? Also, do the recruiters even consider giving job to candidates like me after the mba?
Hi, the short response is: doesn't have to be consulting or finance or other typical MBA stream; yes, you would/could get in; and yes, recruiters would consider you, even with age or early career.
A little longer version: interestingly, your comment focuses largely on what outside factors and what others think of you--none of that is necessarily wrong or to be ignored, but I'd venture to say that this is perhaps the wrong starting point. What you need to get clarity on is what you would like to do moving forward: in graph with axis 'money' and 'joy' (you could obviously use other variables that you want to get out of your job, such as 'flexibility,' 'freedom,'...); if you jot down activities, roles and professions that you'd deem acceptable, including making less money for something you'd absolutely love and would come home from happy, and sharing that with your loved ones (as opposed to dumping your frustration on those around you), then what is that common line or thread. And don't think of limitations (that'll catch up with you later, all by itself). Then, for which of these scenarios would an MBA from INSEAD or elsewhere have a net positive impact? An MBA can act as a wage multiplier for a business-focussed role in your current profession; it could unlock doors to other roles and industries; it allows you to connect, network and join up/collaborate with other driven individuals,... and all of that, as theoretical as it may actually be, is already part of your narrative for your application, let alone gives you a momentary directive towards where you could see yourself going. "Pivoting" your career is one of the most plausible scenarios for why a program would accept you; people from diverse backgrounds (in any sense of the word) coming together to accomplish something they (individually) haven't done before; the last thing an institution like INSEAD wants is for everyone to fit the same cookie cutter formula. So, with a civil engineering background, you'd fit right in!
And then recruiters... well, you already have the stamp of approval from a well-recognised MBA program, so they'd go with that. If you find a role/opportunity where your experience as a civil engineer comes in handy, this would be a double-win for you (and them) then. So, yes, you would be considered. Plus, as cliché as it sounds, engineers have a very methodical way of thinking (vs someone from the arts/humanities), so don't ignore that.
Lastly,... who said you'd only become a consultant or get into finance,... that sounds rather boring. If I learnt one thing during my 1-year INSEAD stint, it's that you come out of this much more action-oriented than you would have walked in. In other words, you can pretty much do anything coming out of this you want, alone or jointly with peers, assuming it makes sense (you/I had to pay back that tuition loan, so this was a consideration).
I hope this helps! Don't in terms of limitations. If you're playing with the thought of going (or trying anything): GO FOR IT! Otherwise, you will look back and regret never having tried to go down that path.
@@schoepke actually read that long explanation and extremely thankful to you for taking the time to do that . I feel I will have to read it a few times & do some introspection and then find the real intention of doing that MBA. Again , thanks a ton for the energy you put in 🙏🙂
Consider this a [Like]... it doesn't let me actually use the thumbs-up.@@SUDIRISING
in your opinion what is the best destination to study a DBA in terms of connections and reputation
Wow, that is a loaded question. If we think of the MBA as a 'practitioner' and the DBA as a 'practitioner-scholar,' the scholarly part is what sets an effective DBA apart, i.e., an rich understanding of business levers, what affects them and how they are interlinked. So, the DBA focus should then be one that focuses on the quality of the research, peer-reviewed papers, perhaps accolades like discoveries or novel interpretations of old concepts, etc. This is very much about excellence and how that is being broadcasted. And that would also attract like-minded individuals. I realise this is a very philosophical answer, but perhaps it gives you something to narrow your search, or at least how I would approach it.
@@schoepke may i ask you why do you think dba doesn't get much hype or respect over a PhD in business although its more practical and informative for business development and career progress(in my opinion just as a business student ) ISNT IT?
I need to know the dicorcead comment at the end now lol
Simple: think of the whole experience as a pressure cooker - what you go in with as strong or weak, you will come out with as strengthened or broken. 😉
Not much…it’s worthless
Speaking from experience? If so, do share.
It proves you have connections, cash, and little in the way of ethics. Get that mba sheeples...
It proves none of these things in real terms. Connections are useless if they are just transactional; forging relationships build on trust, actually 'relating' to each other without conditions, is what matters. Cash: what's the point if you're alone, if your sole 'value' is how you can be useful to others. And ethics... it always catches up with you, either your own conscience or the system at large. As a generalisation, the statement in your comment is very on the surface. However, let's say somebody is all that; boy, I don't wish that rat-race life on anybody! And I'd even argue that they were all that, with their deeply-rooted desires, before they got an MBA. Made no difference in terms of the actual human being then.
7:44 divorce what?
DIVORSEAD. Nothing I wish on anybody, but it does (clearly) happen. www.google.com/search?q=divorsead :-)