Is the MBA Relevant?

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A graduate of the London School of Economics, Dr. Antonios Antoniou provides financial and educational consulting services to clients. Dr. Tony Antoniou formerly served as a dean with the Durham Business School, which offers a master of business administration (MBA) degree.

In recent years, universities have seen a decrease in applications for MBA programs. While data show that the number of annual graduate degrees in business increased by more than 100,000 between 1970 and 2009, the number of MBA recipients has dwindled. However, these degrees still provide a wealth of opportunities to graduates, particularly if they come from any of the top-tier business schools. In fact, most MBA recipients find work within months of graduating and earn more promotions to management positions than those who hold other degrees. Entrepreneurship-focused degrees can also benefit those looking to start their own businesses by helping cultivate strong financial and marketing skills.

Despite these professional advantages, many MBA programs are struggling to remain relevant in the ever-changing economy. With most prominent business schools costing $100,000 in today’s economy, many students seek more cost-effective educations in the form of specialized programs. Numerous institutions have introduced such one-year programs as a master of finance and a master of management to cater to the developing financial and educational needs of students. At the same time, MBAs provide a more comprehensive business education than specialized degrees, making it a worthwhile investment in the face of the diversified graduate degree programs.


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