College life is challenging but the rest of the experience comes from work
experience. I also agree that college education only provides us the
fundamentals in order to make it in the real industry.

College gives you almost no life experience. What it does is teach you some fundamental tools that will help you. You learn some of the basic technical things that you can use but not all of the nuances that come with the real world. A college degree is only good for getting a job. Outside of that you really don't learn much about the business world. Hands on experience coupled with mistakes and failures is how you truly learn.

I don't have an MBA but I do have a law degree and undergrad. I've seen the curriculum for the MBA programs and, in my personal opinion...it's worthless. The MBA program reminds me of the line in Good Will Hunting where Damon says that 'you dropped 150 grand on an education that you could have gotten for a buck-fifty in late fees at the library.' Most of that stuff you can just go ahead and purchase those books at the bookstore and basically get your own unofficial MBA. And a lot of MBA programs have about half of their subjects about Accounting. Most entrepreneurs I know leave the number crunching for the bean counters anyway. I think having an MBA is like driving around in a BMW: looks flashy and impressive, but at the end of the day it is a car that will get you from a to b like any other car. You're most likely better off getting in the trenches and 'doing' rather than 'learning'.

I am currently working on my MBA (graduation in August) in a part- time executive program. I agree with the previous poster regarding the cirriculum, but an executive program allows you to work full- time and go to school if you are able to juggle both. I am proud and happy that I have another degree as it does stand above the crowd, as most people have an undergrad degree. As for the school, I agree that if you go to a top tier school, you are quasi set for a career in whatever you choose.

MBA degrees are for Wall Street, not Main Street. And even then, I'd put real world experience up against a degree any day of the week. (And I have an advanced degree.) MaryAnnBusiness Plan MasterThe Business Plan for a Tough Economy ---This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.

I would divide your question in two different parts. One is that the 'real life practic' in schools. Second, the readiness for the business world after graduation. I would like to answer both of them. As far as the education in schools is concerned, it isn't hidden from any one that it is not at par with the real life. We are unable to provide the equal and advanced model of education to all the schools of the country. Let me make it sure that I do believe that there are many schools which are providing very good education but when we talk about the community or a country we talk about the majority. And majority is not able to compete those who study in schools which are considered elite. There are issues in syllabus, issues with the accredition of the schools and degrees, issues with the level of teachers, issue with the provision of equal education, issues with the provision of equal opportunities and facilities, issues with the man power etc.. In this scenario, you can't expect equal or better results from most of the schools. They may differ according to the difference in factors given above. Now, as far as I believe, the education is just to prepare you for real life practice. The actual practice starts after the graduation. It doesn't mean that students don't learn real life practices in their study period but, I believe,one can only learn whenone is put in a real life scenario. If we talk about employers, they prefer an experienced and educated candidate over an educated candidate. That means, if you are only educated but you don't have the required skills, you will not be a favorite candidate for any employer. It doedn't mean that you will never be a good candidate but for that you'll have to start low and prove yourself. Will have to compromise on pay or benefits. But when you gain the desired skills, you are considered in a better position to apply for any post. I work in the field of distance learning and have experienced a lot of cases where the students usually complain of not getting their desired jobs. I think, its not the fault of only one, the government is trying its best and the institutes are also improving the quality of education; but it will take time. Thanks Austin Strickland Schoolsgalore: Directory for online schools.

To be completely honest I believe both serve a purpose. To take either out of the picture would be 'death' for economics. You need business owners who dug themselves out the trenches. These are the workhorses of a nations perpetual economic wheel. But you also need the academically inclined. Those who look for structure and meaning. This principle goes for any science (or part of life for that matter). For instance you can't walk around, coming up with different theories about the physics of our world, without sooner or later testing them to be true or not. On the other hand, physics wouldn't come far if all we had were experimentalists who liked test everything without any theory involved (that's called being a kid). So if you ask me, what has more value, I'd say: It depends! Knowledge is like a gene. Put it in the right environment and you'll see a fauna of fantastic creations in differnet colors. In the wrong environment, you might at best see a small leaf. It is the combination of having the right knowledge in the right situations that dictates whether or not Experience vs Academic knowledge is the right thing to have. The choice is yours!

Hi Clearer.You have a HOT topic for this room.I am currently working on my MBA in a week-end program.I agree with austinstricklan and other people in this room. Everyone have their own view about business school.I take business school because i need more view about business and how to run it better. I have a small business but it turn to slow because of crisis.I meet many people in business class with vary in education and company bacground. I can discuss many topic related to business with them.Business school is good for people who want to upgrade their ability in running business or for a better carier.If anyone here want to start a small business sharing with me, please contact me. OK

Thanks for the complement Jay Jensen. I wish you find a good business partner and wish your business also gets better. To your success. Austin Strickland, SchoolsGalore: Directory of online schools. Message Edited by austinstricklan on 08-07-2009 04:29 PM

You couldn't be more wrong sb. Having an MBA from an established school not only teaches you countless techniques from some of the most experienced business people in the world. The connections you make in Grad school will never fail you and you should treat like an investment. When I dropped $150,000 on an education I knew the people I would meet in school would make me millions in the future.