The exalted MBA degree is suffering a downturn. Fewer people are entering MBA programs. There is a good reason for that. The MBA is not worth the time and money.

How many great companies were built by people with MBAs? You’ll be hard pressed to find one. How many companies were run by people with MBAs when they collapsed? That number is a lot larger. The financial instruments that caused the great recession were created by MBAs. Why is this?

What you don’t learn in an MBA program is how t run a company. You also don’t learn how to manage people. What you are taught is business theory. When you get5 out of the classroom, that theory isn’t worth much.

Academics have had to admit a few hard truths about the MBA degree. It doesn’t make you more money, it doesn’t teach you what you need in real world business, and you’ll spend far more money on the degree than it is worth in salary. In fact the big winners of MBA degree programs are the universities that push them.

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