At present, people do not prefer to pursue business studies. The enrollment for the business degree has been decreasing all over the U.S. Therefore, MBA program offered by different Universities is advertised at many locations throughout the U.S. in order to seek and recruit potential students.
According to a survey done by the Graduate Management Admission Council, the applications for the U.S. MBA programs have been decreasing from the consecutive last four years. In 2017, it seems a 7% drop in the application submission and around 70% of business schools reported decline for full-time MBA programs.
The Wall Street Journal reported a decline of 4.5% application submission for Harvard Business School; 4.6% application decline for Stanford’s Graduate School; and for Wharton 6.7% of applications declined.
Some of the business schools excluded MBA programs from their Academic courses, which haven’t provided flexible pathways to students for pursuing their degrees; some of the schools have reduced their tuition fees; and others initiated part-time and online programs like micro-masters degree, to allow the students who are willing to pursue their MBA with continuing their jobs.
The business tycoon, Jason Calacanis, and Mark Cuban’s opinion are that pursuing business studies in business schools is not worth the cost spent over the study. Mark Cuban said that he is not a fan of getting an MBA, but he is a fan of going to college. Calacanis told in an interaction with CNBC that he doesn’t have MBA, but he hires the people having MBA degree and invest in them. He suggested that rather investing their money in business studies, students should invest this money in initiating some business.
The Financial Times newspaper published that the salaries of business-graduates recently completed their MBA got a salary hike as twice in 2018, with an average salary of around $150,000.