VIDEO ON MSN MONEY
My advice, only get an MBA if your boss tells you you need one or if the company is going to pay for it; and remember, just because you have one, doesn't mean you're actually now magically an effective manager.
The math behind this article is horrible. It appears that they are using mid-career earning compared to someone without a degree. In reality, a graduate degree should only be compared to the incremental earnings you would get over a bachelors degree in the same field. Looking at most of these mid-career earnings numbers, they don't look much higher. If the incremental earnings for a PhD is only a few thousand more than a masters degree, the payback is NOT seven or eight years.
For most of these fields, you do not need a masters or PhD to have a high paying job if you have a bachelors from a decent school with a good GPA.
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