According to the just-released annual GMAC Global Management Education Graduate Survey, job prospects for MBAs are on the decline. The proportion of MBA grads with a job offer right out of school declined to 57 percent in 2009, down from 64 percent from 2008.Think about that: It takes 2-3 years of time, lost income, plus a fortune in tuition to get an MBA--usually filled with theory and real-world-irrelevant cases--and little more than half the new graduates have a job?
And if the trend continues, the employment picture for MBAs will be even worse. Before signing up, caveat emptor!
