The Big Think decided to put it to the test by asking Thomas Cooley, Dean at NYU Stern School of Business "What is the benefit of an MBA?" – A simple enough question with a simple enough answer: It "boosts your career".

READ: Top 5 Things You Did NOT Consider When Choosing an MBA

But this is the most recognisable effect of the MBA. So what lies beyond that?

The MBA is a degree about general management, Cooley explains. Besides the obvious managerial skills, in-depth knowledge about finance and accounting, MBA participants also learn about leadership and how to manage organisations.

Furthermore, the MBA is far from vocational. It teaches you how to think – analytically, critically, historically and ethically.

Best of all, however, MBA graduates acquire a better set of analytical skills and tools. "All MBA programmes offer that", argues Cooley. But "the very best also offer a broader perspective about the place of business in society".

It is perhaps for these reasons, that the honourable Dean assures us that the return on human capital stemming from an MBA degree is "very, very high".

And in the Western world where knowledge economy is the rule of the game, that is by far, the best answer one can get. 

Watch the full video below: