by Brooke Allen
You and I know why business schools charge so much for an MBA.
Because they can.
But why do they pay so little to everyone except their superstars?
It’s not just because they can. I think the real reason is much more sinister than that.
Once upon a time—before starting my MBA at NYU in the early 1980s—I thought that there was something wrong with extracting the most from someone while giving the least in return. That was back before my first finance professor said, “The sole objective of the professional manager is to maximize the net present value of the wealth of the owners.”
I had an ethics class where the explicit message was, “Crime doesn’t pay.” But the implicit message was, “It isn’t a crime if it is merely immoral and not strictly against the law.”
At no time during my MBA did I learn how to make a product—any product. But that was OK. I was already a pretty good programmer and I didn’t need NYU to teach me how to make things. However, I was only a part-time student and freelanced full time to pay for school. I needed to learn how to get clients. Continue reading “Why business schools charge so much and pay their teachers so little”