Together with the global recession in 2008, we began hearing increasingly about the value of MBAs; or rather the lack of value in getting an MBA.
Are MBAs over-rated? Are they worth the time and the investment? Does it have the same value in a recession as they do in an upturn? These questions were voiced or, more often, contemplated silently around the globe by those who were taking career-changing decisions. Just do a web search asking “Are MBAs overrated?” or “Are MBAs worth it?” and see the results.
And of course, the answers would depend on many factors including when exactly you thought of asking. This is because, what appeared to be all gloom and doom after September 2008 until the end of 2010 is now slowly changing.
Here are a couple of reports on MBA prospects that appeared in the Financial Times since the beginning of 2011.
- Job prospects pick up for American graduates (June 15, 2011)
- Asia: MBA jobs market lifts off (January 21, 2011)
Then again, most of these panelists have lived through more than one downturn that were following with periods of growth and prosperity. These questions about the value of MBAs keep popping up in each business cycle, without fail.
Now that things are beginning to improve, at least in statistics, and in a manner people feel in a few places around the globe, the intensity with which the value of MBAs are questioned will slowly recede.
So what do you think? We are asking you—recent MBA classes, those who are contemplating doing an MBA and those who have lived with an MBA through a couple of downturns and upturns. The views of those from MBA classes of five to ten years ago can provide great insights for new graduates and for MBA hopefuls.
Do you think an MBA is worth it? Let us talk, share views and vent if we must.