View Full Version : I need to get into an MBA program...
http://seattlepi.nwsource.com/business/execperks.asp
Dan McCosh
02-26-2007, 05:39 PM
Assuming the Bill Gates line is accurate, it appears for purposes of paying federal income taxes, he is reporting less than 1/1,000th of his actual income.
There was a story floating around a while back about how Ross Perot paid $0 in income tax.
rbgarr
02-26-2007, 05:47 PM
Gates dropped out of Harvard as an undergraduate. He don't need no stinkin' degree.
Nicholas Scheuer
02-26-2007, 05:51 PM
It's also where they teach "downsizing".
MBA Schools are where they dream up ways to justify executive salaries WAY more multiples higher than the lower rung smucks than is justifiable in Europe, or Asia.
I've long maintined that wht is wrong with Business in the USA is the lockstep thinking that comes from MBA Schools.
Moby Nick
Rick Tyler
02-26-2007, 05:53 PM
Assuming the Bill Gates line is accurate, it appears for purposes of paying federal income taxes, he is reporting less than 1/1,000th of his actual income.
Actually, Dan, this news story is his income from Microsoft. To Gates, his paycheck is chump change. Also... is his annual income $1 billion? I'm surprised that he sells that much stock each year...not that I don't believe it.
Rick Tyler
02-26-2007, 05:56 PM
It's also where they teach "downsizing".
MBA Schools are where they dream up ways to justify executive salaries WAY more multiples higher than the lower rung smucks than is justifiable in Europe, or Asia.
I've long maintined that wht is wrong with Business in the USA is the lockstep thinking that comes from MBA Schools.
FWIW, when I was in B school we never talked about how to justify executive salaries or how to downsize. In my opinion, downsizing is an admission of management failure. How many companies that reduce their work forces in major ways go on to be more profitable in the long haul? The big winners are those like Microsoft who go on hiring and hiring and hiring because their business plans are successful enough to pay for it.
What "lockstep thinking" would that be? I'm curious what I missed when I was dreaming of conducting major layoffs some day.
MBA's from top notch schools have a starting salary of 6 figures
Nicholas Scheuer
02-26-2007, 06:26 PM
how to use the "repost copy" function.
But let's examine this a bit further. To paraphrase, "outsourcing is an indication of failure on the part of management".
With outsourcing being nearly universal at this point, and with nearly every business enterprise being liberally peppered with MBA's, would that not indicate a miserable record on the part of those MBA's?
Nuff said!
Moby Nick
They outsource the work, which makes productivity look higher since the foreign labor doesnt show as productivity. And the get a big fat bonus.
Rick Tyler
02-26-2007, 06:37 PM
To paraphrase, "outsourcing is an indication of failure on the part of management".
Paraphrase away, just don't try to pretend I was discussing outsourcing. I wasn't.
paladin
02-26-2007, 07:26 PM
Okaaaaay! Does that mean that I and my little company are failures? I don't go to an office...dunno got a secretary....someone else builds my toys...someone sells them.....and sometimes I pay taxes if I make a profit.......and someone sends me checks regularly.....maybe if I did things differently I could make more money.....I hired two more people this year and brought another "associate engineer" in to do more digital work.....but my bills are paid.....credit cards are paid in full each month....what am I doing wrong?
KNOCKABOUT
02-26-2007, 07:31 PM
MBA's from top notch schools have a starting salary of 6 figures
And so do sandhogs... it dont mean snot.
Paraphrase away, just don't try to pretend I was discussing outsourcing. I wasn't.
Im not pretending anything.:rolleyes:
And so do sandhogs... it dont mean snot.
whats a sandhog?
Bruce Hooke
02-26-2007, 08:03 PM
whats a sandhog?
Someone who works underground building things like tunnels. Let's just say the working environment and level of risk are a little different from your average business suite! :D
MBA's from top notch schools have a starting salary of 6 figures
*Some* graduates from a top-notch school get six figures as a starting salary. Generally speaking, this means Wall St.
What's wrong with this, by the way? Top-ranked business schools do not accept people straight out of college -- you need at least four years of work experience. And there's a reason they are top-ranked :-)
Law school graduates get their six-figure salaries much sooner :D
Kaa
KNOCKABOUT
02-26-2007, 10:35 PM
*Some* graduates from a top-notch school get six figures as a starting salary. Generally speaking, this means Wall St.
What's wrong with this, by the way? Top-ranked business schools do not accept people straight out of college -- you need at least four years of work experience. And there's a reason they are top-ranked :-)
Law school graduates get their six-figure salaries much sooner :D
Kaa
True but Law mostly caps out by the 5th year, and most do not make it anywhere close to 6th ave. The difference lies in the question... have you ever met an interesting banker? Lawyers on the other hand are a blast!
The difference lies in the question... have you ever met an interesting banker? Lawyers on the other hand are a blast!
Heh. Actually, M&A investment bankers can be quite interesting people. But if you don't like bankers, Wall St. also has traders which can be more entertaining that even lawyers :D
Kaa
KNOCKABOUT
02-26-2007, 11:06 PM
Boorish is not interesting, lawyers may be scoundrels but they are well thought out. Bankers I have always found to be rather dull. This is especially true of I-bankers, unless you find the trifling details of what the inside of a G4 looks like at all interesting.
George Roberts
02-26-2007, 11:10 PM
"Assuming the Bill Gates line is accurate, it appears for purposes of paying federal income taxes, he is reporting less than 1/1,000th of his actual income."
These numbers are from SEC filings not tax returns.
---
A couple nights ago on Numbers the key break came from line xxx on form yyy of a tax return.
My wife pointed out that that particular line was unrelated to the information that was claimed to be on the line. And that at best the initial SEC corportate filing might have the information but more probably would not.
And I keep telling her the math on the show is at best "made up."
Don't believe what you read in the papers.
Dan McCosh
02-27-2007, 07:41 AM
Actually, Dan, this news story is his income from Microsoft. To Gates, his paycheck is chump change. Also... is his annual income $1 billion? I'm surprised that he sells that much stock each year...not that I don't believe it.
Not selling is how he doesn't pay taxes. He has averaged about $1 billion a year during his working lifetime, after expenses. It's not technically "income" which was the point.
WillW
02-27-2007, 07:45 AM
Fact -- George Bush is the first president with an MBA.
Matt J.
02-27-2007, 08:16 AM
My BIL is in an "exectutive MBA" program. $85000 for 18 months. They get the executive treatment all the way, too...
He talks of nothing but the brilliant shrewdness of WalMart, outsourcing, and cutting costs to grow profits at all costs. He can not understand my business plan at all (enjoy it, make "enough" money, repeat).
I'd say, based on that one case, that MBAs are designed to maximize corporate profits and teach the WalMart way. You should hear him go on about how wonderful WalMart is... whereas you won't get me in a walmart for free stuff - morals, I guess.
George Roberts
02-27-2007, 08:19 AM
At one time Bill Gates was selling $100 million of MicroSoft stock every month. He paid taxes.
Norman Bernstein
02-27-2007, 08:59 AM
Fact -- George Bush is the first president with an MBA.
Hmmm... I wonder what that says about the value of MBA degrees.
where did the nucular man get his MBA?
Norman Bernstein
02-27-2007, 10:10 AM
where did the nucular man get his MBA?
Hahvad, no less.... but Daddy's connections had nothing to do with it! :D
(if you believe THAT, I have some swampland to sell ya....)
Tim_H
02-27-2007, 05:14 PM
ROFL...
Bush at Harvard...Ill bet his professors loved him.
The Bigfella
02-27-2007, 06:27 PM
Geez - I did mine in downtown Auckland - wouldn't swap it for a Harvard one either.
My business strategy professor came out of the US nuclear missile program - was an adviser on the SALT 2 treaty (Nixon era IIRC) and changed career / moved to NZ to get away from the madness of all that. He said that it was so ridiculous in those days with the scenarios that were being run (do this and we'll lose 80 million, do that and its only 50 million) that all the best brains left within six months with the hope that those "in control" would doubt the scenarios if they knew they didn't have the best brains working on them.
The core tenet of our program was teams - building and managing efffective teams. Yep - tripled my salary within a year of finishing. Turned a $21m investment into $67m for the parent company in two years without outsourcing anyone. Increased base pay levels above award too. Then got fired by a command and control freak - who saw the team that had achieved that as a threat. He lasted three months after that.
MBAs are - or were in my day - about teaching a wide range of skills to rising managers - so that they could ask sensible questions on just about any issue they would face.
A quick question for the anti-outsourcing brigade. If it increases the sustainability of the organisation you work for - are you still against it?
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