In five pages this paper assesses the benefits offered by an MBA. Three sources are cited in the bibliography with the inclusion of one table.
Name of Research Paper File: MM12_PGmba.rtf
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in the business world [and that] the degree has little effect on salaries in the long run" (Holland Online Sentinel, n.d.). The authors also severely criticized what they call an
outdated curriculum and mollycoddling teaching (Holland Online Sentinel, n.d.). Pfeffer and Fong also said that the popularity of the degree has diluted its value and that 40 percent of the
CEOs listed in a Fortune Magazine article on why chief executives fail, had MBA degrees (Holland Online Sentinel, n.d.). Furthermore, it can cost a candidate as much as $100,000 to
get through an MBA program (Holland Online Sentinel, n.d.). Needless to say, there was an outcry from not only the business programs that offer this degree but also from professors
and practitioners (Holland Online Sentinel, n.d.). The two researchers are from Stanford but other Stanford professors were quick to criticize the authors conclusions and to refute the articles conclusion. Although,
some have said that the article at least raises issues that should be discussed, such as the curriculum (Holland Online Sentinel, n.d.). In response to the article, the Graduate Management
Admission Council distributed results of a study that showed an average starting salary of $77,000 for MBA graduates, prior to earning the degree, the average salary was $50,000 (Holland Online
Sentinel, n.d.). The Graduate Management Admission Council also noted that there is a global demand for the Councils admissions test that most school use (Holland Online Sentinel, n.d.). The Graduate
Management Admission Council (GMAC) conducted a post-MBA longitudinal study in which 1,247 MBA graduates participated (Graduate Management Admission Council, 2002). In spite of the economic downturn in the nation, most
MBA graduates report there is significant value in holding an MBA (Graduate Management Admission Council, 2002). The most often mentioned benefits of the MBA that graduates cited for the last