By Ryan Holmes, CEO at HootSuite
In 1999, I dropped out of business school. I think it was one of the best decisions I ever made.
Fast-forward to the present and I’m CEO of HootSuite, a quickly growing social media company with 300 (amazing) employees and more than 6 million customers. It was real-world experience in business that led me every step of the way—not an expensive college degree.
Higher education is pricier than ever, but in today’s job climate, it doesn’t always guarantee a return on investment. This especially applies to the once-coveted Master in Business Administration. Here’s why:
1. MBAs no longer make sense financially. Many people say they want an MBA for the money. But decreasing salaries for MBA graduates combined with skyrocketing tuition costs mean they aren’t experiencing the kind of financial rewards they once did. While students coming out of top U.S. MBA programmes in the mid-1990s saw their salaries triple in just five years, graduates leaving the exact same programs in 2008 and 2009 saw that pay cut spike in half. Meanwhile, MBA students in 2012 paid 62 percent more in fees compared to those in 2005. A two-year MBA at an established school like Harvard or Columbia may well cost you around $150,000. That’s just staggering.
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