Is Business School A Good Decision?

Posted by Robyn Gee on August 9, 2011

Patricia Drury / Flickr

Mike Moradian is a natural entrepreneur. He founded CampusBuddy, and College Budget — two sites aimed at helping college students connect and find great deals. But does he need to go to business school?

Moradian was just accepted to Harvard Business School, and has put his decision in your hands. He initiated an Internet vote for whether he should go to school, according to the Washington Post.

Moradian’s conundrum highlights one of the biggest questions in today’s economy — what is a degree worth? The Georgetown Center on Education and the Workforce released a study called, “What’s It Worth? The Economic Value of College Majors,” which ranks a degree in business as the third best major to choose in terms of a median starting salary.

However, Georgetown’s most recent report called, “The College Payoff,” explains that while investing in a higher education degree is still worth it, the industry you choose can outweigh the cost of getting the degree. For instance, having a bachelor’s degree in a science, engineering, math, or technology field is often worth more than having a Ph.D in a different field. However, being a male, Moradian can already earn the same amount with a bachelor’s degree as a woman can with a Ph.D, according to the study, which highlighted many education / workplace inequalities.

Moradian has a tough choice ahead. Will his business success increase enough with an MBA to pay for Harvard Business School? The deadline to vote is August 30.

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