Who Needs An M.B.A.?

They may be cracking the glass ceiling at work, but women are of mixed minds about enrolling in top business schools

Marilyn Mawn is a young wall Streeter most leading business schools would love to call their own. A Cornell graduate who relishes the intensity of her 80-hr. weeks as an analyst at Bear Stearns in New York City, Mawn, 25, has three years of experience in the financial industry, a head for closing major deals--and absolutely no plans to go to B school.

It's not that she didn't give it some serious thought. Mawn researched the best financial-real-estate programs, sent away for applications and took a prep course for the Graduate Management Admissions Test. But after seeking advice from senior...

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