Pretty much everything about that statement in inaccurate. The vast majority of them have parental funding. Most MBAs are self-funding; almost every MBA I met

Pretty much everything about that statement in inaccurate. The vast majority of them have parental funding. Most MBAs are self-funding; almost every MBA I met at the Berkeley, Stanford, Case, Loyola, USC, and UCLA business schools was. A few were lucky enough to have their employer bankrolling the degree. Perhaps one or two were attending on their parents' dime. MBA may not seem selective (a lot of mediocre people get in) on intelligence, but the "work experience" bar can be quite high and usually requires a leadership position in an established business (not some acq-hired startup) before 26. Stodgy blue-chips don't promote that fast, so no one gets that without their daddies pulling strings, which means they also come from money. MBAs can be very selective; it depends on the school, but even the most selective only require 2-3 years of work experience before they will seriously consider an applicant. Experience can be acquired in any industry, including startups, restaurants, and service industries. The key factor is not where an applicant worked, but what the applicant managed to accomplish while working there.