This Ivy League Dean Admitted That MBA Degrees are Useless. Here’s How The Students Reacted.

Remembering when I sat in Columbia’s famous Lowe Library at a luncheon with Glenn Hubbard, the Dean of Columbia Business School, when he made a somewhat shocking declaration.

He noted that — nationwide — business schools are closing and MBA degrees are in decline.

According to GMAC, a whopping 53% of business schools reported a decline in application numbers last year.

Then Dean Hubbard confirmed what we were all thinking: The ROI of an MBA degree is being called into serious question.

Those degrees — costing almost $200,000 at a prestigious business school like Columbia — can take students decades to pay off, and interest rates on graduate loans can range over 10% or more.

And when young kids could be sitting in their underwear in Oklahoma hatching the next billion-dollar Snapchat, the prospects of an MBA look even more bleak.

BUT if you think the Ivy League MBA is dead, think again.

Although Hubbard was deeply honest about the state of affairs of the MBA, the students — including yours truly — didn’t flinch.

That’s because he went on to say what really matters to business school students: an unforgettable, once-in-a-lifetime experience in which students absorb a core set of critical business skills, network with the future’s best business minds, and forge a critical understanding of not only business, but also of the world’s challenges at large.

Here’s what you can learn from Columbia Business School (without paying for it).

Experience is the biggest advantage you can ever own, and the largest advantage a company can ever develop.

Seeking out new experiences makes you wiser, more open-minded and better able to lead yourself and others.

Developing a brilliant experience at your company will create happier employees, more loyal customers and faster growth.

Experience is priceless — which means no one can put a price on it, and the value is infinite compared to anything you will pay.

Who knew I could have received the best lesson without even applying?

I share many more best lessons in my completely free eBook: Grow Aggressive: The 9 Critical Cheats, Hacks and Shortcuts of The 4% of business owners who grow to $1 Million or more in revenue. Click the link to get it free.

Thanks for reading!