If you can’t get into a top-five MBA program, don’t even bother

MBA programs were created in the 1950s because large corporations felt that new employees lacked general management skills and as a result, many talented hires had to be taught on the job the basics of business such as accounting, finance, market research, etc.

Corporations started to demand that schools give them better trained employees. In response, many schools designed MBA programs as a two-year crash course for talented individuals to get a fundamental overview of how big business worked. MBAs were not designed to help you advance your career, they were designed to make you a great employee at a large firm. In fact, most large firms paid for your MBA and you, in return, committed to joining them for several years.

Make sure to check out the reader responses too.

“10 Things I Didn’t Learn In College” by James Altucher

I think it should be mandatory to take a finances course in college as part of your general education requirements. Stock trading, mutual funds, splits, derivatives, 401k, IRAs…my high school had an economics class, but I think that’s probably too much for a 16 year old to learn. I would have gotten much more out of a course like that than Cultural Anthropology, a course I actually took.