Earning a Master's in Business Administration (MBA) was once an essential part of building a career in business.
But getting an MBA can be a huge personal and financial undertaking, and in today's rapidly-changing business landscape, there are some who feel that the degree has lost its relevance.
"After all," bestselling management author and CNBC contributor Suzy Welch tells CNBC Make It, "if college dropouts can become billionaires and CEOs, then who needs an MBA, right?"
But before you reject the idea entirely, Welch says to consider the specific situations in which going back to school is actually a smart decision. Below, she shares the only four reasons she believes anyone should earn an MBA today: