"Half of U.S. Business Schools Might Be Gone by 2020"

Interesting read:

Online Programs Could Erase Half of U.S. Business Schools by 2020 - Businessweek

My favourite statement:

 

I agree with Richard Lyons' findings. Especially, more MBA holders but less jobs. And the tuition is extremely high, which yields to bad return on investment.

 

6 years from now? Half? It's lucky we have such short memories and we can forget all these ridiculous "predictions" made by experts. Most telling part of the article? Schools talking about how they can maximize profits by offering online MBA's (read:cash cows).

Good thing college is about personal development and growth, right?

 

Or read another way "Over half of business schools still befuddled concerning using instructional technology and may not be able to adopt to current market trends within the next six years"

To which I say why would you want to go to a business school that can not compete in its own markets?

 

For what it's worth coming from a social science major, based on my personal observations, I am not completely surprised by this article. I'm sure we all know business majors (they are quite abundant these days)... and those who I know, particularly those who are recent graduates, have been entirely unable to find work in their field. This is not to say that I do not recognize that most fields are seeing job crises, please do not think I am saying that. I'm just saying that I have personally witnessed more than one business school promise perspective students that they'll enjoy unrealistic salaries immediately following graduation, only to throw their graduates into a world with no jobs. I guess the difference between these poor souls and the rest of us is that their tuition is higher.

 

As the rate of degree holders continues to skyrocket, the number of available white collar jobs continues to decline commensurately. In another decade (or sooner), the United States will have an overabundance of over-educated workers who are employed well-below their educational level. Would you like fries with that MBA?

IMO the future bodes extremely well for those with technical degrees i.e. IT, cyber-security, A.S. radiology, AAS in dental hygiene, etc. Non-technical degree holders may not fare as well economically.

Having a non-technical generic degree is always good, but it may not have the significant economic advantage that it was previously known for. Generic bachelors degrees may include English, history, business management, psychology, HR, sociology, etc.

As traditional jobs continue to be outsourced or replaced by technology, employment in high paying jobs may be more guaranteed to those with esoteric technical degrees because they are immediately employable in niche employment vacancies.

There may come a day when unemployed MBA graduates (and soft MA graduates) may be patting themselves on the back at cocktail parties, while concurrently standing in the unemployment line. Meanwhile, technical AAS, AS or bachelors holders will be gainfully employed in their niche fields.

The young need to pursue niche degrees and certifications -- and then pursue the soft degrees later, if it's required for advancement.

 

The Thunderbird School of Global Management almost went out of business and had to be propped up by a for-profit company. I don't know about MBA programs, but schools will only cut back on the number of undergraduate business students they accept if they are willing to do the ethical thing. Business administration/management is the most popular major. According to PayScale, business administration/management majors are the most underemployed.
Business Administration Major Underemployment Stats

I have seen a couple of cases where colleges have attempted to do the ethical thing by either discontinuing a major or limiting the number of students admitted. Our Lady of the Lake University tried to get rid of their Mexican American Studies and some other degree programs that don't lead to employment. I didn't check into whether or not they ever did. They started to face some backlash from students. Texas A&M is limiting the number of students they accept into their petroleum engineering program because of the tight and unpredictable job market in that field.