Wharton Mba

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Q. Is it true that graduates of the undergraduate program at Wharton do not need a master's degree and go straight to a job and make gobs of money?

A. That's what Wharton wants you to think. The truth is that you will get the degree of success in life, and from your education, that relates to your effort. Wharton students occasionally think that, because they are there, they are the only people who will ever be successful-- and the school encourages this-- just look at the T-Shirts for sale in the Penn bookstore that say "Wharton-- It's lonely at the top." Maybe it wouldn't be so lonely if they weren't so arrogant about it. Penn itself has been run more and more in this vein-- for example, the new projects that look great on paper, raise the school's image in it's own eyes, and are eminently "marketable"-- but don't provide much, if anything to the students. Penn also provides an example about how you don't have to be from Wharton, or have any great education, to be successful: in, I believe, the spring of '97, Penn advertised for two empty positions-- they needed a coach for the varsity squash team, and a laboratory scientist with a PhD in microbiology-- and would pay both the same salary. Makes you wonder about the need to pay thousands of dollars and spend years of your life getting that advanced degree, doesn't it-- and you can bet Wharton doesn't teach you squash! (No offense meant to the squash coach-- my beef is with that aspect of the school, not you. And yes, I work there too.) Despite your silly diatribe, this was the question: Is it true that graduates of the undergraduate program at Wharton do not need a master's degree and go straight to a job and make gobs of money? Will they make more than an engineering or comp sci grad on average? No. Will they make more than a psych grad? Yes. Will they make much less than a Wharton MBA? Yes. Will they make as much or more than an MBA from a third-rate program? Probably. Unfortunately, we can't compare Wharton undergrad with most other ivies and selective liberal arts colleges who believe that business is more appropriately studied at the graduate, professional level by students who have some business experience. As for Wharton's presence on campus, it is important to remember that each school and department at Penn manages their own budget. The fight between Wharton and Psych departments over the old bookstore space was not one about who needs it most (because both parties were facing overcrowded conditions) but was about strategy and direction. Psych department couldn't decide what their future was gonna be like: whether to split into 2 different departments or stay as one, and Penn granted the space to Wharton MBA because Psych couldn't decide.

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