The demand for Master of Business Administration (MBA) education has increased tremendously over recent years.Having an MBA qualification is seen as a passport for a managerial role. The prestige of MBA education, however, has fluctuated. There have been numerous critiques of the MBA. This article examined the existing literature on perspectives of MBA faculty, MBA students, and employers on the effectiveness of MBA programs. So, from a student perspective, what are their expectations? Do their expectations get fulfilled? MBA faculty will frequently ponder if they are adequately preparing students to be leaders in organizations. Employers expect MBA graduates to excel in the workplace. In addition to the different perspectives, we offered several suggestions for greater success and satisfaction of students, faculty, and employers.