The Economic Crisis and B-School

By: Tarang, MBA Candidate, Class of 2009

What does this economic situation mean for a professional in terms of their future career planning?  Basically, it is a good time to consider earning an MBA. In fact, it might be the best time to be studying even for those who hadn’t thought about it before but made recent job compromises due to the economic crisis. 

Most people give up a reasonably well paying job and the opportunity to grow both economically and professionally over the two-year time they are in business school. That is the opportunity cost we pay for a business education because we believe that it will provide us with a much better and faster career progression thereafter. The best time to enter school then, is when this opportunity cost is the lowest. In a bad economy such as this, the value of our professional and economic benefits over the next two years is expected to be lower than ever. Thus it makes the most sense to invest this time in enriching our human capital by going to business school.  In doing so, you will return to the job market two years down the line with a set of tools and skills that will guarantee a much higher return on investment than before.

Also, like any other economic crisis, this one too is predicted to have a two year life cycle. You will graduate as the economy is rebounding and companies are looking for growth, firm’s eager to innovate and most importantly recruit! So before you discard any of your personal planning in light of another scary economic analysis article or financial report, take a closer look at what this situation means for you!

For those adversely affected by the economic crisis in the United States, please consider applying for Simon’s InnovatUR Scholarship.

 

 

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