With a global economic crisis in full swing many potential businessmen and women are deciding to put a career on hold for a bit to pursue an MBA. The reasons for stalling a career in the short term while preparing marketable skills for the future are piling up considering the scarcity of available jobs and lower pay for remaining business opportunities.
Economic downturns such as these often see a spike in MBA program enrollment and some MBA programs have seen surges of as much as forty percent in recent application seasons. If the current financial climate seems stormy, now might be the perfect time to weather the recession by investing in higher education.
To Work or Not to Work?
For some, it makes perfect sense to postpone the job hunt when there are simply fewer jobs. For others who have lost their jobs or are unhappy with old jobs, an MBA can be a stepping stone to a new career. Developing more marketable skills in an advanced degree program can provide greater opportunities down the road with only a brief delay in work experience. Valuable leadership skills, broad financial understanding, and complex organizational techniques gained from such a program can enhance a career in the long term with limited short term sacrifice.
Brave New World
As this recession continues, leaders are doing all that they can to put the economy back on track. While there is certainly discord among the financial experts few disagree that a recovery is inevitable. Another certainty is that what emerges will not be exactly the same as what came before. Job descriptions will change, necessary skills will evolve and the marketplace will be forced to adapt to new conditions as will the people that work within it.
In a challenging, evolving market those with flexible talents, strong foundations and fresh perspectives will prevail while those who cannot adapt are doomed to fail. An MBA can provide the necessary background that the would-be businessperson will need to make this transition much easier and offers the best possible chance for securing a new job in an emerging economy.