Is your friend an MBA?
Is your friend an MBA?
I think we hear about the dot com folks because they are often relatively young and got rich off of things that are familiar to people.
^ Good point. Familiarity bias.
On average, no top MBA school really produces extremely wealthy graduates. The median Harvard Business School graduate makes less than $4 million over the next 20 years of their careers. So, if you want to be extremely wealthy by going to a prestigious business school, but you must also rank high in your class in terms of earnings. You’re not going to become Bill Ackman by going to Harvard. Most likely, you will be some mid level corporate manager making $200k.
http://www.bloomberg.com/bschools/content/jun2011/bs20110610_989005.htm
Anyway, earnings are just one component of measuring a school’s quality. Some people would definitely sacrifice 10% in lifetime earnings for higher life quality, a desirable location to live, or work that they consider to be interesting. This is why business school rankings use a variety of factors in determining the order of schools.
Ohai,
The reason most people get an MBA is to get out of whatever godforsaken career they are currently in
It’s paying for the mistakes of our youth. The best place to be is in the exact right job you love from day 1. Then you don’t need an MBA and if you want one its sponsored by your company.