Be very careful before diving into an MBA program right now. Even students from the top MBA schools are frequently without job offers, and those in mid-tier schools are jobless in droves as shown below in the chart from Econompic. You can see the rate of graduates’ joblessness in red.
Now we’re pretty sure that MBA’s from top schools will always benefit their recipients, if only for the network of contacts they build for the long-term.
However, those considering lower- or mid-tier schools should do some serious homework into the financial cost because as shown above you could very well end up without the career advancement you hoped for and just a large debt to show for it. Two years of additional real world experience might be the better choice.
You also need to be more pick than ever, since while some schools have only experienced a moderate deterioration in the chart above, others have seen graduates’ joblessness triple, quadruple, or more.
As the Reformed Broker says, “Degrees don’t necessarily equal Skills.”
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.