There are many degrees of questionable value in the U.S. Perhaps our mania for educational credentials is ebbing, though. People are more often casting doubt on degrees such as the J.D. and the MBA.

In today’s Martin Center article, Professor Jason Fertig, who teaches in an MBA program, looks at the pros and cons of going after that degree. Many programs, he argues, offer little benefit at high cost, including the opportunity cost of doing something else. But there are others that he thinks are worthwhile. The trick is for the aspiring student to sort the wheat from the chaff.

Fertig writes:

Make it a rational decision. Do your research. Begin with the end in mind. In order to get the most out of an MBA, the adult learner needs a cost-benefit analysis involving location (elite vs. non-elite schools) and program type (full-time vs. part-time). If you have the funds and the time to make the MBA your full-time job, target a full-time program at the best school that will accept you. Once there, excel in class and grow your network. You’ll probably land a solid position with this strategy for now.

Schools always make glowing claims for their programs (MBA and otherwise), but a smart student will look past them.