Its an fact that majority of students opt for MBA instead of other fields. We know that its not a cheap price, an annual tuition fees at the top B schools now approach or exceed $50,000 per annum. Most of them do believe that the academic inflation has been a killer, because when you toss in basic expenses of today's needs then you can add $30,000 or more to the annual total.
Students invest both their Money and Time in order to study MBA courses, but also need to account for the earnings they are giving up to the top B-Schools. To get into a highly ranked MBA program, you have to be in a fairly good job that could very easily pay you close to six figures at-least. Add it all up, and the total cost of MBA now approaches to be higher and higher every year.
Here's a small example to show you on how people are seeking MBA more than any other field:
|Most Popular Master's Degree||Business Administration||Actual Percentage|
|Curriculum and Instruction||3.6%|
According to a research, it is known that around 3,00,000 students enroll in an MBA Program, and around 156,250 candidates get awarded as an MBA Graduate every year. Don't you think MBA Programs are very Expensive? The average tuition cost for a two-year MBA program is $82,147. Also the cost after books, housing and other expensive puts the total cost at Rs.$120,000.
Students who plan for a MBA studies are quite interested in studying abroad. The below list refers on the tuition fee of the top 100 B-Schools in abroad.
- Harvard University - $112,000
- Stanford University - $110,000
- Columbia University - $115,000
- Yale University - $105,000
- NYU (New York University) - $97,000
- Notre Dame - $84,000
- Miami - $78,000
- UC Davis - $69,000
Well, students prefer to choose an 'Education Loan' in such cases. But, its going to be harder to pay off loans later because for a 10 year repayment plan, graduates will shell out $1,300 a month after interest and fees. Its a fact that one in every five graduates default on their loans, on other hand 40% of graduates rely on their parents for loan assistance.
As, in today's generation a very less people are hiring MBA's. Also there is a steep hike in MBA unemployment rate since academic year 2008 to 2011. In 2008 the unemployment rate was of 7%, 10% in 2009, 12% in 2010 and the previous year 2011 it is found to be 14%. Based on the previous year records only 13% of MBA Graduates get that consulting job they want.
Instead of spending 2 years in class, entrepreneurs are now busy starting wildly successful business. Based on such entrepreneurs below is the list of some revenue after the first two years.
- Ebay : $47.4 Million
- Facebook : $48 Million
- Google : $ 86.4 Million
- Amazon : $147.8 Million and
- Groupon : $7.13.4 Million
Based on all the aspects of today's MBA studies, mbaonline is the best option that a expert would suggest for.
What is mbaonline? Its not just like an real/traditional MBA. Instead of formal lessons like what you would receive at a brick and mortar school you can learn about what works and what doesn't work from the top business minds in the Social network. The website mbaonline.com can serve you with lots of opportunities to do your MBA studies in a different manner, not just like a traditional school but more.
What do you think? Investing a higher amount and time on traditional MBA course is worth or not? Is it a waste of time to spend days in traditional classes? Does MBA course means to study under four walls? Do MBA course has nothing to do with the real world. Which would you prefer for- Traditional MBA on Online MBA? Start sharing your views.