Apprenticeship instead of $200,000 MBA

I was listening to the latest episode of the Exponential Wisdom podcast - The Future of Higher Education

This might upset those with an MBA, but they discuss the question of whether someone should spend $200,000 to get an MBA. Or maybe they can find an apprenticeship or internship where they could learn similar skills but would be far less costly.

According to the podcast, MBA school admissions have been declining: Harvard Business school down almost 5%, Wharton down 6%, Stanford down 4.6%.

So what is the benefit of pursing an MBA? They say:
"I’m gonna come out with $200,000 in debt. I’m gonna spend two years being taught things that other people want me to know versus what I want to know. That’s the negative. The positive is that I’m going to create an incredible network, the four to five hundred graduate students are super smart and super connected. And I’m there to build that network. The concept of, I did my MBA at Stanford is shorthand for I’m smart, well connected."

It's true that the credentials can potentially open more doors or help you get filtered out from other hires. But I really like their discussion about doing an apprenticeship to gain similar skills

In fact, I think that's where education is headed in the future. Especially with the crazy cost of higher education in the U.S. In the future, people will pay 'tuition' to do internships or apprenticeships under various experts, in various fields. And it would just take one intensive year instead of a traditional four year model. And maybe people would do multiple apprenticeships throughout their careers.