Economic crisis may lead to educational slump

Rising unemployment rates have elevated the number of applications submitted to top business schools. MBA applicants face tough competition, resulting from the addition of many unemployed individuals to the applicant pool. While this is generally good news for business schools, business school applicants are mostly apprehensive when dealing with these changes. The increase in applications will probably yield an unequivocal drop in admission rates to business programs of all levels.

Even if your application is successful and you are admitted to business school, your troubles are far from being over. Once admitted, candidates report destitution in the availability of financial sources for financing their MBA education, as well as a decline in the number of scholarships and fellowships awarded to MBA applicants. The cave in of the American banking industry, combined with the imminent collapse of additional financial institutes on the balance, means things are not looking up. This may irreversibly influence the state of worldwide business education, leaving the MBA experience mostly to those who are financially able to afford.

Grim outlook for MBAs post graduation?

Apparently, MBA graduates face a different reality nowadays. MBA graduates are reporting an increase in establishing entrepreneurial ventures, as well as a rise in accepting offers from small and medium businesses.

You are fresh out of a leading MBA program; you have met talented people and accumulated invaluable knowledge. Why waste that knowledge, when you can put it to good use? Many graduates are turning to entrepreneurship, capitalizing on the knowledge they amassed during their business education.

Small- and medium-sized businesses, which as employers were unable to meet competition from large conglomerates until now, constitute a growing force in the MBA post-graduation employment. MBAs are willing to take positions in smaller enterprises, including lower salaries, to have a more influential role in the company.

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