Over the past decade, I’ve taught hundreds of executive education, MBA, and undergraduate students at half a dozen top universities. To put it mildly, I’m a believer in the importance of higher education and graduate studies. But I’m also concerned that some executives view grad school as a panacea — a universally applicable fallback and a sure-fire ticket to promotion, the way teachers still get a union-mandated pay raise if they get their master’s degree.