In fact, many self-made CEO’s went back and attended night or weekend degree or MBA courses when they were in a financial position to do so. In a recent survey carried out of the top 100 CEO’s in America they listed determination and continual learning as the two most important attributes that could be attributed to their continued success.
Since the beginning of the 20th century the burning question is will a degree or MBA guarantee me success over my colleague that does not possess either? Well in a recent study ,despite the cost-benefit analysis, the great majority of business school alumni self-report very positive experiences and high value from their MBA degrees.
In trying to best answer this question of formal education versus work experience it is first important to point out that there are no definitive right answers to this question in relation to having a degree/ MBA or commencing at the bottom of an organisation and working your way up to the top, however possessing either a degree or MBA clearly gives you an advantage .
To maximise this advantage, one must continually reinforce it up with hard work and a thirst to continue a pursuit of lifelong learning and advancement of your knowledge and skill set as your career progresses. With the advancement of online learning platforms an ambitious individual has no excuse when it comes to having the opportunity to continue to upskill themselves.
One of the main reasons that high school graduates typically don’t progress to University or degree and MBA courses is that it is extremely cost prohibitive and if you come from a lower-class family then this path may not be immediately available to you, For example, the top-ranked school in The Economist’s 2019 MBA ranking, The University of Chicago Booth School of Business, estimated the cost of attendance for the 2019-2020 school year at $108,822.