Its unfortunate that this article focused solely on the financial industry. I agree that some schools seems to breed more of what the author is referring to in the industry. Yet I think its a blanket generalization to all MBA programs. The MBA typically gets a bad wrap when any economic problems start to occur. Most people will then start to quote statistics that say most of the top companies do not have MBAs at the helm, so why do we need these MBA programs? What about those that have worked on Social Ventures during their MBAs? Are they guilty of wasting their time in an MBA program?
I chose to get an MBA so that I could understand the business side of things more and to build a professional business network, the latter being the most important. You'd be surprised at the background of people you meet in school. Do I think that everything taught to me in the program should be taken as gospel? No.