The Recession that hit the economy around the end of June 2007, and has affected many companies and corporations, even the under-developed nations at large. This recession was the biggest downturn in the history after the great depression of the 1930s and caused many professionals with booming careers went jobless and in debt.
Typically, the economy is a mix of booms and slums and many use these slums to further their careers by enrolling in graduate and doctoral programs. The idea is to gain extra credentials and certifications to enhance their career prospects and often individuals take this as an opportunity to change their careers or go up the ladder in their current profession.
Professionals have differing views on whether one should pursue an MBA during a recession. The fact that these opinions are diverse goes to show that it does not entail a particular pattern and a lot has to be considered while enrolling in an MBA degree program during a recession.
Many believe an MBA credential acts as a shield during a recession and protects you from losing your job during the worse economic and financial calamities possible but there is significant number of MBA holders that got jobless during the recession in 2008.
Then there are others who believe that the recession is the right time to get a master’s degree and an MBA should be high on priority. They claim that the MBA programs provide an ample amount of time for an individual to complete his education during the recession; meanwhile the economy rehabilitates and brings with it new opportunities, which can be exploited by these fresh MBA graduates.
To counter this argument there are critics that state that there is no guarantee that the economy will restructure in time, and whether these fresh MBA graduates with the old school thinking will strive in the new emerging economy.
Also they question the curriculum of these colleges that are producing these MBAs, as because of their inadequacies we were led into a recession in the first place. Although you may be pleased to know that many universities are re-organizing their MBA curriculum and the focus has shifted to preparing individuals with a concern towards the community and society along with principle of making money and developing strategies to beat competition.
Another important factor to consider is the cost of the MBA. Grad schools cost a lot but the interest rates go down during a recession and you might want to exploit this by registering in an MBA program during recession. Although it may stimulate the economy but banks and financial organizations do not have sufficient liquidity to loan out any money and therefore it is difficult to get loans in a recession.
Typically, the economy is a mix of booms and slums and many use these slums to further their careers by enrolling in graduate and doctoral programs. The idea is to gain extra credentials and certifications to enhance their career prospects and often individuals take this as an opportunity to change their careers or go up the ladder in their current profession.
Professionals have differing views on whether one should pursue an MBA during a recession. The fact that these opinions are diverse goes to show that it does not entail a particular pattern and a lot has to be considered while enrolling in an MBA degree program during a recession.
Many believe an MBA credential acts as a shield during a recession and protects you from losing your job during the worse economic and financial calamities possible but there is significant number of MBA holders that got jobless during the recession in 2008.
Then there are others who believe that the recession is the right time to get a master’s degree and an MBA should be high on priority. They claim that the MBA programs provide an ample amount of time for an individual to complete his education during the recession; meanwhile the economy rehabilitates and brings with it new opportunities, which can be exploited by these fresh MBA graduates.
To counter this argument there are critics that state that there is no guarantee that the economy will restructure in time, and whether these fresh MBA graduates with the old school thinking will strive in the new emerging economy.
Also they question the curriculum of these colleges that are producing these MBAs, as because of their inadequacies we were led into a recession in the first place. Although you may be pleased to know that many universities are re-organizing their MBA curriculum and the focus has shifted to preparing individuals with a concern towards the community and society along with principle of making money and developing strategies to beat competition.
Another important factor to consider is the cost of the MBA. Grad schools cost a lot but the interest rates go down during a recession and you might want to exploit this by registering in an MBA program during recession. Although it may stimulate the economy but banks and financial organizations do not have sufficient liquidity to loan out any money and therefore it is difficult to get loans in a recession.
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