Recession Threatens MBA Student Diversity, New Business Dean Warns
May 18, 2009
By the My MBA Career Content Team – Find Top MBA Degree Programs
The economic downturn may threaten student diversity as business schools boost tuition to make up for declining support in state budgets, according to Larry DeBrock, incoming dean of the University of Illinois College of Business.
"The mission of a great public university is to provide a depth of student diversity, whether based on socioeconomic or ethnic criteria," he said. "Businesses prize diversity, too, and want workforces that reflect America and its varied walks of life."
DeBrock warned that the economic downturn could make it harder to recruit lower-income students, but that it is important for everyone to have the opportunity to pursue an MBA degree.
Economic downturns also typically produce a rise in applications to MBA schools, according to DeBrock, who pointed to the 20 percent increase at the U. of I.
"Getting an MBA means leaving the workforce and the promotion track for two years," he said. "But during periods of economic stagnation, people figure it won't cost them that much, so they decide to go back and get that degree they always wanted."
If you are ready to go back and get the degree you always wanted, it might be the time to enroll in an MBA program.
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