Although there was a lot of media coverage about the collapse of financial sector, and an increased hesitancy among North American students to apply for an MBA, a recent study released by the Catalyst Research Group recently shows that MBA graduates who held jobs before the financial crisis began came through relatively unscathed. (Don’t give up on your GMAT and GRE Prep!)
Catalyst tracked 873 alumni who received an MBA between 1996 and 2007 from one of 26 top global business schools to see what effect the recession was having on these high potential employees. The study found that 94% of those tracked worked as much or more during the recession, and while 10% did lose their jobs due to downsizing and cutbacks, 34% actually received a promotion. Alumni working in Asia had the highest chance of receiving promotions (at 44%), while those working in Canada had the lowest (at 23% ).
While these findings do not provide much relief to the general population, it is positive news for B-school candidates and hopefuls that MBAs do seem to provide a measure of job security during times of economic hardship.
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