The MBA dilemma – business schools in Canada are suffering
As a CEO of a successful company, how often do you rely on your MBA? Sure, obtaining an MBA is impressive for various reasons, but when it comes to these advancement business programs, there seems to be a recent and common trend: a decline in enrollment.
Following the economic crisis that hit all over the world, applicants from Canadian students wanting or hoping to attend business school greatly declined. Therefore, universities across the country are now taking on new agendas when approaching MBA courses. For example, some are cutting their class sizes, while others are increasing their enrollment of overseas students to hopefully assist with various costs. As a result, both potential students and CEOs may be inclined to change their agendas.
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MBA programs are trying to get students interested with short degrees, novel programs, foreign travel opportunities and new buildings. However, a luring questions still arises at the mention of MBA programs: does a higher and more expensive education guarantee job placement?
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Not only is job placement a (major) issue, but students have also been pickier when it comes to choosing which business school they attend. More so than before, students are choosing schools or programs were recent graduates had a high success rate of not only finding a job, but a good job that pays wells.
Some employers seem to be making changes, too. For example, specific companies that once required an MBA for hire or advancement are making slight changes. Now, various in-house programs develop new talent through their own rules, in which new hires will spend three years at a lower-tier analyst’s category before moving into associate level jobs.
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At the end of the day, it’s important for both CEOs and new graduates to do their homework. Of course, it’s vital to hire the best applicant for the job, which could mean looking at the various MBA programs in the country and seeing who has the skills and knowledge to fit the specific role of the company.
In the same respect, those who are considering attending MBA programs need to make sure that they are getting the most for their time and money. Therefore, it’s necessary to do some research and see which schools have successful hiring rates.