Summary of Key Points
Once regarded by professionals as a "top-tier business card" and a "must-have course for CEOs," the MBA program has shifted from being highly sought-after to one where schools are offering discounts and clearing out inventory. Tuition fees have dropped by hundreds of thousands, admission scores have hit record lows, prestigious universities have opened up opportunities for transfer students, and there are even scholarships that offer financial incentives. This change reflects a fading value in the MBA: high tuition costs with low returns, a changed nature of networking, outdated courses, and the impact of newer learning methods, which has reduced it from a surefire investment to an ordinary educational product that requires careful consideration.
1. Money Spent, but No Return – The ROI of an MBA Is Unjustified
How expensive is an MBA? Tuition at top universities in major cities typically ranges from 300,000 to 500,000 yuan, and full-time programs require two years of time off from work, costing an additional 600,000 yuan (based on an annual salary of 300,000 yuan), for a total investment of over one million yuan. But what about the return?
- Limited Salary Increase: Graduates from top universities like Peking University, Tsinghua University, Fudan University, and Shanghai Jiao Tong University have an average starting salary of 390,000 to 460,000 yuan, but they already earned close to 300,000 yuan before enrolling. A million yuan invested results in a mere 100,000 yuan increase in salary, making it a low-value investment.
- Even Worse: Negative Return: For example, Gu Tong spent 460,000 yuan on an MBA at the University of Hong Kong, only to face a declining industry and her company cutting her salary and laying off employees. She had to resign and become a freelancer, with her degree proving of little help.
Ordinary people, after calculating these costs, conclude that "selling everything to attend an MBA might not even cover the expenses," and thus are less inclined to pursue it.
2. Seeking Networking but Encountering Peers – The Social Appeal of an MBA Has Diminished
Many people enroll in an MBA to network and meet influential figures, but this function is no longer effective:
- Younger Students with Inequal Resources: The average age of MBA students at Peking University Guanghua School of Management has dropped from 33 to 32 years old, and at CEIBS, it has even fallen below 30. Young graduates lack the necessary experience to network effectively; "They are not active in class but are eager to exchange business cards during meals, but everyone is just an ordinary professional, and no one can really help each other."
- Declining Quality of Networks: In the past, MBA students were mostly corporate executives, but now the majority are owners of small and medium-sized businesses or self-employed individuals. As a result, the value of networking with "influential figures" has decreased.
3. An Overabundance of MBAs on the Market – Increased Enrollment Has Diluted the Value of the Degree
MBA degrees were once in short supply, but now there is an oversupply:
- Rapid Expansion: By 2025, 89% of MBA programs will be expanding, with enrollments rising from 63,000 to 72,000, and 33 new institutions will be added. What used to be a highly sought-after degree is now easily obtainable for a fee, leading some HR professionals to dismiss it as a "low-value" qualification.
- Universities Cutting Prices and Lowering Admission Scores: Universities like the University of Science and Technology of China have reduced tuition by 150,000 yuan, and Northeast Forestry University has cut it by 147,000 yuan. Admission scores have dropped from 175 in 2020 to 146 in 2026. Prestigious schools like Beijing Normal University and Tongji University have also started offering transfer opportunities, selling degrees as if they were clearing out inventory.
4. Outdated Courses – Unable to Compete with More Flexible Learning Methods
The MBA curriculum is outdated:
- Obsolete Content: Some students complain that teachers read from PPTs containing material learned in undergraduate courses, and case studies are from a decade ago, failing to reflect advancements in AI and new energy technologies.
- More Practical Alternative Learning Methods: A post-90s entrepreneur named Lulu says, "Instead of spending 300,000 yuan on an MBA, I would spend 100,000 yuan on courses taught by industry leaders. I can learn from their practical experiences and gain one-on-one insights from board members, which is much more useful than listening to professors' theories." Online business schools and specialized training programs are attracting students away from traditional MBAs.
5. A Return to Rationality: An MBA Is No Longer a Mandatory Choice in the Workplace
The MBA has evolved from a symbol of status to a personal decision:
- Some See Value: For example, Molly attended an MBA at Northwestern Polytechnical University, which fulfilled her dream of attending a top-tier university and helped her become more composed in challenging situations, planting the seeds for future opportunities.
- Others See Little Value: More people are weighing the costs and benefits before enrolling. The brand prestige of top universities remains, but mid-to-lower-ranked schools are facing significant challenges. However, this might not be a bad thing; when the value of a degree is determined by the market, education can truly focus on enhancing skills rather than just serving as a status symbol.
Conclusion: Changes in the MBA Program Reflect the Times
In the past, rapid economic growth meant a shortage of management talent, making an MBA a valuable asset for career advancement. But with the current economic slowdown and corporate downsizing, people are more pragmatic. An MBA is no longer a guaranteed investment; it requires careful consideration of its merits and drawbacks. The decline in its popularity reflects a return to rationality in the education market. Education should aim to improve skills rather than merely serve as a status symbol.
(End of Article)