How important is an MBA?
While an accredited MBA can help you in your business career, you do not need 1 to succeed in business. Many well-known entrepreneurs lack an MBA or even any form of advanced degree, such as a masters degree or PhD. However, using your MBA can help you advance in a company and apply business knowledge, and many professionals have gone this route as well. An MBA cannot make up for a strong entrepreneurial drive, but you can use it to apply your dedication more effectively.
MBA holders
Jamie Dimon, chairman and CEO of JPMorgan Chase & Co., received his MBA from Harvard Business School in 1982 and has spoken at commencement ceremonies at the university. His undergraduate degree was a bachelors from Tufts University in psychology and economics. He is 1 of the most highly paid banking CEOs in America and has worked with several major financial institutions during his career.
The senior vice president and chief business officer of Google, Nikesh Arora, received his MBA from Northeastern University as well as a masters from Boston College. He has worked with several telecommunications and new media firms since receiving his degrees and is also a chartered financial analyst. His work with Google has involved several different responsibilities, including international sales and strategic partnerships with international organizations.
Mitt Romney, former Massachusetts governor and co-founder of Bain Capital, received a joint MBA and JD degree from Harvard Business School and Harvard Law School as a Baker Scholar in 1975. Before that, he received a bachelors degree in English from Brigham Young University. Romney has achieved considerable success in both the public sector and the private sector. He also served as president and CEO of the 2002 Winter Olympics organizational committee.
Jeffrey L. Bewkes, chairman and CEO of Time Warner, received his MBA from the Stanford University Graduate School of Business as well as a bachelors from Yale University. Bewkes has held several high positions at Time Warner, including president and chair of the entertainment and networks group.
Mavericks
Larry Page, CEO of Google, studied for his PhD at Stanford, but he did not complete the degree. He did complete enough coursework to earn a masters in computer science at Stanford, in addition to his undergraduate degree in engineering from the University of Michigan, but he instead chose to pursue his PageRank system and co-found Google. Page also serves on the board of the X Prize, an award given to those who create technological breakthroughs.
Paul Allen, founder and chairman of Vulcan Inc., holds no academic degrees, having dropped out of college alongside Bill Gates to co-found Microsoft. He is 1 of the richest individuals in the world, with a net worth of more than $14 billion. He has invested in a large number of technology and new media projects, as well as sports teams and real estate. He also supports a variety of scientific philanthropy efforts, such as the Alien Institute for Brain Science and the Science Fiction Museum.
Dean Kamen is the creator of the Segway, a two-wheeled mobility device, and founder of Segway, Inc. Kamen, who has no college degree, also founded Deka Research and Development, a technological development corporation that has received government funding for the Luke Arm brain-controlled prosthesis design. In addition to his successes in the business world, Kamen serves on the USA Science and Engineering Festival Advisory Board.
Richard Branson, head of the Virgin Group, has no college degree. The Virgin Group is primarily an entertainment and media group, but it also has other business ventures such as airways and energy development. Branson, who is 1 of the wealthiest men in the United Kingdom, has a net worth of more than $4 billion.
