Weekend Wars: MBA vs. MPA
Master's in Public Administration...or Public Policy...or Public Management...
They are all birds of the same feather, but not the kind that fly South for the winter.
This advanced degree which was once reserved for those who wanted careers in non-profit fields and government machinery cogging, is no longer the little runt at the dinner table. In fact, since government workers now make twice that of their private sector counterparts...maybe it is time to rethink our definitions of graduate diploma values.
I have been thinking of bringing up this topic for a long time, but the timing never quite seems right. Well, today is the day and even though this article is over a year old, I think it is a very telling tale of where American jobs and wages are heading.
Now, I am not about to waste my time arguing with any of you guys about the benefits of an HBS, Booth or Wharton MBA. Obviously, top drawer MBAs will earn a shitload of money over their careers. Obviously, they will out earn some Keynesian Fiscal Architecture scholar.
But how about the rest?
The data presented shows a very clear and in my view disturbing trend...
It is now far more profitable to work for the government than it is for private enterprise. Perhaps an advanced degree in bureaucracy will never provide as much earning potential as an M7, but it seems increasingly likely that the average MPA or MPP will dwarf the average MBA in terms of salary over the long haul.
I like to rant a lot about big government, but is this really still an adequate term?
Doesn't it seem more and more like it is big government which is surely becoming big business?
Just goes to show the foolishness of Wall St. in giving Obama that campaign largesse. The only reason analysts work like slaves is the idea that it's the best way for them to maximize their income. Why do that when you can just get an MPA and be a lazy crypto-Marxist bureaucrat to get paid?
How about those that have both a MBA and MPA? Met a MS summer associate this summer who is currently a Wharton/Kennedy MBA/MPA candidate. At that time I never understood why he would study that route if he wants to go to i-banking?
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