Excited to share my Blog published today in Harvard Business Review: http://t.co/Lbpd6ohSJI— Gregg Schoenfeld (@GSstats) March 25, 2014
...Responding to GMAC’s 2014 Alumni Perspectives Survey were nearly 21,000 business school alumni around the world. Focusing on the majority of them (19,456) who earned their degrees since 1980, we find that graduates during recession years (1980-82, 1990-91, 2001, or 2008-09) are just as likely today to value their degrees highly as those graduating in other years. For these alumni, the retreat to value went through, not around, the classroom.
The “value meter” holds steady for alumni in every form of return we asked about: financial, personal, and professional. As they rate the value of their graduate business degrees, there simply aren’t meaningful differences between those alumni who graduated in recessions and those who didn’t:
- 95 percent of recession-era graduates rate the value of their MBA or master’s degree in business as good to outstanding, compared with 94 percent of those graduating in other years.
- 95 percent of business school recession-era graduates agree that the degree was personally rewarding, compared with 94 percent of those graduating in other years. Findings are similar when alumni consider whether their degree was professionally rewarding (91% of graduates in a recessionary period compared with 90% of others).
- Knowing what they know now, 96 percent of both groups of business school alumni would still pursue the degree.