This pretty much validates my recent decision to ditch the PhD idea

I've been grappling with the decision whether to do a PhD or an MBA for over a year now.

I've been under pressure from my parents to do a PhD. However, the world they knew and that forms their opinions no longer exists, and job prospects for doctoral graduates are not as good as for MBA graduates -- despite the fact that there are currently a lot of unemployed MBA grads too.

It's much more expensive in the short term to do an MBA. But it is also a shorter degree (therefore less time spent out of the business sector earning money) and the kinds of things you learn doing an MBA are more interesting to me.

So it's pretty much a no-brainer.