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Originally Posted by hochfelder
Do whatever it takes to get into a top school for after that point you're done: I mean, it's not that you'll actually learn that much for that matter ... Recently, an investment bank was horrified to find that an MBA graduate it hired from a leading business school, an individual who had apparently taken a number of courses in finance, could not calculate the net present value of a future stream of payments. On the other hand, it has been described by many authors in detail by now the drinking ritual in which students at Wharton visit 10 bars in one night. This is what happens in business schools, after all, most students simply get drunk. MBA students bond and network. At Stanford learning is not an explicit goal. Grade inflation is pervasive in top schools, thus almost no one fails out of these programs, which means the credential does not serve as a screen or an enforcement of minimum competency standards. In today's prestigious business schools, students have to demonstrate competence to get in, but not to get out. Every student who wants to (and who avoids financial and emotional distress) will graduate. In fact, these schools have developed elaborate grading systems to ensure that even the least competent and least interested get credit.
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sounds plausible. But I guess this won't surprise too many. Even those who got into them. Business programs do not allocate scholarships, most of their students pay for their schooling. In other words, these schools are big business companies and act as big businesses - they extract money from their students, why would they want to kick them out? What they sell is their name and the network connections etc. But isn't business, after all, a matter of image too? (btw. I think this sucks but it's just the way business operates). I mean getting a HBS stamp on your CV is great, whether your argument is right or wrong. And for sure those who want to get something out of that program, will do so. These schools do offer great possibilities of learning, and they nurture an accumulation of talents. Grade inflation or low attrition rates do not diminish that. What they might do, in the long run, is to hurt the reputation of the program itself. If that happens, it's only fair.
btw. Mrdstein, congratulations, great admit!!!I think many people dream of something you've achieved. Now good luck with your studies, hopefully it'll be worth it.