Recession Fuels Upswing In MBA Applications
March 17, 2009
By the My MBA Career Content Team – Find Top MBA Degree Programs
Many professionals aren't waiting around for the economy to improve before starting work on their MBA degrees, according to a recent report.
This week, the Miami Herald reported that a record 246,957 GMAT exams were taken last year. These are the tests that prospective MBA students take before being accepted into a program.
''Honestly, I expect over the next couple of months, as we start to have more layoffs and more dire predictions, we'll see things pick up even more,'' Jeff Mello, interim dean of Barry University's business school, told the newspaper.
The newspaper also noted that about 77 percent of the nation's full-time MBA programs had reported increases in applications last year.
Many of the prospective students are motivated to pursue MBA degrees in the current economy because of the advantages they are likely to have as the economy improves. People who earn an MBA degree are often well-positioned to take higher-level positions and increase their pay, to pursue their own new business opportunities, or to pursue new careers in fields and specialties that truly interest them.
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