B-school Confidential: MBAs May Be Obsolete

Yahoo Finance's Brazen Careerist, Penelope Trunk has five signs that the MBA is becoming devalued (I've snipped bits of 3 below)

1. Only the top business schools have high value.

2. Business schools are compromised by a lack of female applicants.

3. Business school is like buying a high-priced recruiter.

The best thing you get out of business school is a good job afterward. But how do you know you wouldn't be able to get that job without business school?

In an article in The Atlantic, management consultant Matthew Stewert says you probably could. He also says you should consider paying a recruiter to get you a good job, and spend your time taking philosophy classes instead. That's because philosophers, as Stewert writes, "are much better at knowing what they don't know. ... In a sense, management theory is what happens to philosophers when you pay them too much."

And if you are thinking of becoming a CEO, Sallie Krawcheck, herself the CEO of Citigroup's Global Wealth Management, says you should be an investment banking analyst first. That's because being a CEO is really about making decisions with limited information, and that's what analysts do best.

4. Hotshots don't go to business school anymore.

5. People go to business school for the wrong reasons.

The bolding on point #3 is mine. With some caveats about care and growing of your OODA loop, it's good advice, but hey, I'm what you call biased.