Will There Ever be a Point When Getting an MBA is the Norm?
The number of students deciding to pursue an MBA skyrocketed as the economy tanked in 2008, reports McClatchy. During the height of the downfall that year, a record number of people—246,957—took the GMAT, a standard exam used by business schools to assess the qualifications of applicants for advanced degree programs.
Despite that number, don't expect the MBA to become the norm. It will remain an achievement that sets business professionals apart and provides a proven springboard to a higher level of success through additional theoretical and management skills. In fact, the surge in applications to MBA programs leveled off in 2009.
"Historical patterns observed in the higher education market suggest that application flow to MBA and other programs is likely to decrease in the coming years, especially in the United States," states a survey by the Graduate Management Advisory Council, which administers the GMAT. "A probable future decline, however, does not indicate a lack of interest in business education but merely the continuance of a normal cycle that will see other peaks in the future," the survey report said.
An MBA, like a doctorate or any other graduate degree, will likely continue to be the mark of an achiever. It takes hard work, initiative and lots of time to earn a business school degree, and not everyone is cut out for the rigorous course load and effort required.
