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Going Back to B-School during Recession

The jobs landscape is changing daily with numerous layoffs, cost-cutting (slashing employee benefits – 401K, Pension plans, No bonuses or salary hikes) in businesses and increasing Bankruptcy filings. The current economic situation is compared to that of 1920’s great depression. With NBER officially declaring that US is in recession since 2007, What are some of the hide-out places during this recession ? This is the time to take steps to make career changes and one option is going back to B-School.

These are some goodies from my B-School experience :

– No shortcuts, Going to B-school is a long term commitment
School gets added to “Life – Work” balance. Be prepared and make spouse (family) understand and ready for 2, 3 year long B-school process.
– Weigh-out options – time and money. Money can be earned but the time is referred as most valuable of two. “Opportunity Cost” – Time one spends in MBA class may be put to better use by doing something useful. That’s why they say MBA is expensive.
– Education (or a degree) is never a waste.
Networking, Helps a lot as you team up with different background professional in doing MBA class projects
Career Counselors at MBA schools – It depends on school but would give some direction towards job hunting
– Change in thinking. As most individuals are pigeonholed in the same vertical Industry knowledge , B-School gives you fresh horizontal view of industry wide knowledge.

These are some of beneficial psychological things. I’ll take time to cover some material things (“Show me the money”) like MBA placements and salaries in different industry.

If you have tips to share, please do so via comments.


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Posted By: Kalyan | Date: December 18, 2008 | Categories: MBA

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