I was returning from church today, thinking about future plans and as usual my thoughts drifted towards the recession. We know that with the recession, the number of applicants has been on the rise. Students are hoping to ride out the recession by gaining what is definitely an advantageous education.
But What if the recession continues? What if those who enter this year, graduating two years from now, suddenly find that they are still in the middle of a tight job market? What if their salaries are well below the current average? Does it then justify them taking 2 whole years off?? How do they justify the high tuition fees of atleast 80k when the salaries they get will ensure that they are paying off those loans for a really long time to come?? What about international students? Far worse a situation for them. Is it then wise to rush for an MBA now? Or are you better off staying in your job and saving for a rainy day? Or rainy season for that matter.
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There were 3.6 million jobs posted on employment sites in september. I know the media is screaming recession but there are hundreds of thousands of 100K jobs posted on employment sites -
www.linkedin.com (networking)
www.indeed.com (aggregated job listings)
www.realmatch.com (matches you to the perfect job)
Good luck to all those searching for jobs.
I tend to agree with ray here. Even if the economy continues to underwhelm, having an MBA from a great school certainly wont hurt your job prospects, and over the long term (as most MBAs have a long career ahead of them), it is will almost certainly pay to have the degree--why not go for it now when the opportunity cost is low?!
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