Last week’s Wall Street Journal included a very interesting article about the growth and decline of M.B.A.’s and Master’s degree Business programs within Europe and the United States. According to the studies done by GMAC, (the Graduate Management Admissions Council) the percentage of students attending graduate school for their Masters is directly tied to the economy.
The European economy is struggling at the moment; due to this, the percentage of unemployed people in Europe has risen. This along with the variety of specialized programs that are being offered have caused a major influx in applications for Europe’s one year M.B.A. programs. Online M.B.A. programs also saw an increase in applications this year.
On the other hand in the United States the economy is in better shape than that of Europe’s economy. This has caused our unemployment rate to drop; which is the reason for the lowest percentage of full-time M.B.A. applicants in four years. There is even a drop in part-time M.B.A. programs; this is suspected to be directly caused by employers cutting back on tuition refund programs. Contrary to the previous if the United States economy continues to grow, then shorter programs in high demand fields such as data analytics will be of interest.
But the United States has gone through a period similar to Europe’s current state, this occurred during the 2008 economic recession. It seems that although the M.B.A. programs in Europe are shorter than most programs offered in the United States by one year, there are still a very large number of international students coming into the United States from Asia, South America and Africa.
It seems that the shorter the program is, the better; an example of this is at the Manhattanville College School of Business. They offer six, part-time, one and a half year Master’s Degree Programs. These include a variety of different specializations such as a M.S. in Finance, M.S. in Human Recourse Management and organizational Effectiveness, M.S. in Sport Business Management, M.S. inInternational Management, M.S. in Business Leadership and M.S. in Marketing Communication Management.