"The popularity of the degrees has surged. In 1970, for example, business schools handed out 26,490 M.B.A.'s, according to the Department of Education. By 2004, after a period marked by an economic boom and heightened competition for top-flight business careers, that figure had jumped to 139,347. But opinion and data appear divided on the tangible benefits of an M.B.A."On one side:
""The M.B.A. is the most versatile degree out there — most of the others are very field specific, but you can apply an M.B.A. to any field," said Rachel Edgington, a research director for the Graduate Management Admission Council, a nonprofit group in McLean, Va., that is overseen by leading business schools and administers annual admission exams."
And on the other side:
The article overall centers on the Harvard class of 1996 and a film project (interview the graduates every five years).
""M.B.A. programs train the wrong people in the wrong ways with the wrong consequences," said Henry Mintzberg, a management professor at McGill University in Montreal. "You can't create a manager in a classroom. If you give people who aren't managers the impression that you turned them into one, you've created hubris.""
Overall the evidence is mixed, but having an MBA myself, I have to agree that it was a worthwhile degree to get (even though I really do not use it much) and as Ms. Malone concludes:
""It's this big safety net; it's a credential that makes it easier to get a job later,... Maybe life shouldn't be that way, but it is what it is." "