Why did you get into this business?
Think back to your MBA program. Obviously, a career path that led you into the financial sector must have been motivated by promises of vast riches.
But, was money a reason you went to business school?
Or, was it the reason you opened this door and stepped through?
If your entire professional life has been predicated on the pursuit of money and power, your life plan has a fundamental flaw.
Sure, business school can better equip you to be a successful business professional. But, you need to look deep within yourself to uncover what will truly make you happy—or at least keep you from being totally miserable.
Enrolling Students Undaunted by Downturn
MBA programs were bracing for the worst in the fall of 2009, as the US struggled out of recession. According to an article in Business Week magazine[2]: “A damaged brand, a shortage of jobs, and questions about return on investment all threatened to send admitted students away from business school and into the relative stability of the workforce.”
As Business Week reported, though, much to the relief of many an admissions officer, fears of mass student defection was never realized. “Far from it. Flying in the face of many predictions, 2009 enrollment actually soared at top schools. Students accepted their offers of admission in unprecedented numbers, leading many programs to enroll more MBAs than ever in this year’s entering classes.”
The reasons for the higher-than-expected yields are unclear. The economic forces that boosted enrollments in recent years have clearly not abated.
These statistics demonstrate that in the wake of the most dramatic economic downturn since the Great Depression of the 1930s, business schools are seemingly bullet-proof. The fact that top schools saw the biggest gains suggests that prospective students may be opting for B-schools they believe will provide the best ROI in a tough economy.
What they also subtly indicate is that many applicants may have opted to wait out a jobless recovery in B-school. In a sense, this is counter-intuitive to the hard reality of the industry, because many of the real lessons that need to be learned — or, at least impossible choices that need be navigated — are not accessible through the oft-antiseptic filter of the business school.
[2] Business Week – October 8, 2009 – Business School Gets Crowded