Top Business Schools Aren’t That Great

Stop worshipping the elite M.B.A. because they oftentimes cause more problems than they solve.

Photo by Charles Forerunner on Unsplash

Business schools have become a major problem because they perpetuate a cycle of bogus thinking and bad practices, all in the name of preserving the integrity of the business degree. Today, business schools hold the keys to the kingdom of lucrative and cushy jobs that promise ridiculously excessive compensation packages to those who are willing to keep the cycle going.

Few economists disagree that the education-industrial complex is a major contributor to the rampant income inequality in the west, particularly in America. Of all the degrees that contribute to financial stratification, perhaps none is more culpable than the M.B.A. While the prestigious degree still offers graduates wildly lucrative salaries, most M.B.A students don’t realize that almost all the knowledge they will need to be successful in business must be learned on the job. Despite that fact, most “top” business schools in North America and the UK tend to throw outrageous salaries at celebrity professors who have never worked a single day outside of academia, rather than hire actual business people with real-world experience.

Business schoolers rarely realize that most of what they are studying is rooted in…