"You could be forgiven for thinking just about every man and his dog has an MBA these days," says Anthony Hesketh, of Lancaster University management school. An MBA is aimed at developing the knowledge and skills that an individual needs to manage corporations and other organizations, but the MBA is not the only way to obtain a good job or to be a success in business. It’s Rare for Corporate Leaders to have been Business Majors as Undergraduates. MBA Schools prefer economics majors to undergraduate business majors, mainly because they are looking for leaders, not students who already have been trained in specific techniques. An MBA might not be worth your time. The cost of an MBA includes more than tuition and the other academic bills you’d normally think of. The cost also includes the income and learning you give up by not working for the two years it takes to get the MBA. Attend only a “top ten” business school.
The schools in my top ten are Harvard, Stanford, Northwestern (Kellogg), Penn (Wharton), Dartmouth (Tuck), Chicago, MIT (Sloan), UCLA (Anderson), Columbia, and Michigan (in about that order).
If you think you can handle more responsibility than your current job, and if you can get into a top-ten graduate program, then an MBA is for you.