Elsewhere in the world, MBAs held the equivalent allure. During the 1990s MBAs gradually gained respect and popularity in South Africa.
So how valuable is an MBA? Value is typically measured by scarcity, and so the following statistic from Fast Company blew me away:
"More than 100 000 MBAs graduated from business schools across the country this spring, and while many of them walked away with a sheepskin - some graduated without a job or internship."
100 000 per year!
Of course, all of this means any of three things:
- Employers will look to other scarcer qualifications as a measure of value
- Employers will only employ the top graduates in an MBA class
- Employers will attach far more value to MBAs from some schools than others.
Frankly, when I hire people, I look at performance and applicability as the entrance requirement to an interview. From then on, I forget about the past and judge the person on their performance in the interview and later on the job. That's why multiple testing interviews are important.
And now that I am interviewing, the boot is most surely on the other foot!