Are full-time MBAs still relevant? (and how you can’t trust AI)

Twenty years ago, I was preparing for the GMAT and working on my MBA applications for Stanford and Harvard. I don’t remember the exact deadlines, but I was applying in the second round, which had a deadline in January.

Stanford rejected me, but I got into Harvard. There was a specific essay I feel very good about, especially in hindsight. The question was, “What do you wish the MBA Admissions Board had asked you?” My answer: I wasn’t sure I wanted to do an MBA. Imagine you’re in a job interview and, when asked, “What attracted you to our company?” you reply, “Well, actually, I’m not sure I want to work for you.” Playing with fire, right? But I was honest in my essay. My job at Morgan Stanley was going well, and I had doubts about interrupting it, even though I was applying to Harvard’s MBA program. Self-doubt is normal, and I think the admissions board appreciated my honesty.

Anyway, this note is not about how I got in. My oldest son is in college now, and he sometimes asks me about the relevance of an MBA program in this day and age.

I don’t know the answer. My first reaction is that the value of a traditional MBA program should’ve been challenged by the proliferation of online programs, micro-degrees, executive programs, and certifications. Also, the majority of grandiose success stories in the last two decades involved founders without MBA degrees. The likes of Jamie Dimon (CEO of JPMorgan, Harvard MBA) feel like “old school.” Zuckerberg, Bezos, and…