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5. The gap between you and the next 90,000 MBAs

Last year across the U.S., over 90,000 individuals earned an MBA degree. In education as in business, some investments deliver a far greater return than others do. Earning a diploma from one of the nation's top business schools can help bridge all of the gaps described in this article.

One CEO advises, "Go to the very best school you can. There's an aura there that means something. When interviewing management candidates for our company, all things being equal, I look at what business school a candidate attended. If it's a top school, we usually say, 'This person must be something special'."

The retired vice chairman of worldwide manufacturing company observes, "A top-notch MBA is always highly prized. Our CEO, and most of our top officers, had business degrees from Harvard, Wharton, Chicago, the better schools. If you can swing it, it's worth doing."

Another senior executive expresses his view more bluntly. "As a hiring manager, I always looked askance at someone whose MBA degree was from 'East Snowshoe U.'"

The economic case is quite compelling. Although annual tuition may cost $5000 or even $10,000 more at the highest ranked of the top 50 schools, the average annual starting salaries are substantially higher for grads of those leading programs. Assuming a 20-40 year post-MBA career, that income differential can really add up. The bottom line? Despite similarities in course content, apparently employers do not consider all MBA programs equal.