For the last couple of years the economy has been volatile. Although Canada weathered the recession better than most countries, the impact was still felt. Higher education is by no means exempt from economic forces and this has made for an interesting few years. When the economy is down and jobs are scarce, people either hang on to their existing position or look for ways to enhance their skills. We have seen an increasing interest in our MBA programs over the last couple of years, as young professionals look for ways to deepen their knowledge and enhance their existing skill set while the economy recovers. Some candidates wanted to pursue the MBA on a full-time basis, some wanted to earn the degree part-time, but they all wanted to get an MBA to be more competitive in the workforce.

As an Assistant Director of Recruitment and Admissions at the Rotman School, I always get asked this question: Is the MBA recession proof? And my answer is always the same: It all depends on how you perceive the value of the degree.

Full-Time MBA alumni on the value of their degree Source: 2012 Alumni Perspectives Survey, Graduate Management Admissions Council

Needless to say, not everyone finds this answer reassuring. Let me explain what I mean with a story. A couple of weeks ago I had a chance to ask this question, though in a slightly different way, during a panel discussion I moderated in Shanghai. The panelists were a very interesting group: the CEO of Manulife Asia, two Rotman MBA alumni, and a current Rotman MBA student who is doing an exchange in Shanghai. In the audience we had newly admitted Rotman MBA students, alumni, and individuals considering applying to Rotman. It was a very interactive session, with a lot of audience engagement, but the moment that really got everyone’s attention was when I asked the panelists: how do you see the future of MBA graduates? They all shared their own perspectives on the MBA experience, but they quickly came to a consensus. While the panelists agreed that the MBA deepened their technical and soft skills, they all emphasized the idea that, at the end of the day, the MBA degree’s value depends on the individual. It’s ultimately up to the MBA candidate to make the most of the degree.

Getting those three letters after your name is not the biggest factor in your success; the biggest factor is how you use those three letters. The MBA is not an automatic ticket to your dream job! Employers will hire you once you prove that your MBA tangibly differentiates you from the rest of the competition.

Rotman students celebrating after officially graduating from the MBA program

Nothing is the same post-MBA. You approach problems from a new perspective and you bring a greater sense of self-confidence to the table because going through such a rigorous program requires strong time management, prioritization and people skills. You become more competitive in the job market. However, once you graduate, you are just getting started: the MBA is a means to an end, not the end itself.  Even after getting the credentials, you still have a lot to do to remain competitive in the market. There are now more MBA grads than there were 10 years ago. Business schools have done a great job making the MBA the most sought-after professional degree program. Employers also notice the difference between an MBA graduate and a non-MBA. Some functions certainly require a more in-depth skill set than one can gain through an undergraduate degree. Of course, it did not take long for ambitious young professionals to pick up on this.

I think the burning question is “How are Rotman MBA students different?” Our students are different because what we offer at the Rotman School is unique! Our curriculum is based on Integrative Thinking. Our professors train Rotman students to model complex problems in real time by teaching “Live Cases”. Traditional case studies ask students to solve historical business problems using a defined set of data. In contrast, Rotman students tackle Live Cases drawn from problems facing real companies, right now. To better reflect the reality of business decision making, there is no limit of where our students find the data they use to propose solutions to Live Cases. They learn to think on their feet and develop strategies to mitigate potential risks on the go. What can be more valuable than graduating from an MBA program that gives you the tools to be proactive?

Your education won’t stop once you’ve completed your in-class training. Learning is a life-long process. Although immediately after graduation, you will not want to see another textbook for a while, the field you enter will be evolving at a rapid pace and you can only stay in the game if you can keep up. The process you will go through during your Rotman MBA will provide you with the technical and soft skills to manage your time better, do things more quickly and more effectively leverage the diverse skills of the teams you manage and work with. These traits alone will help you stand out from the crowd.

For those of you who are considering an MBA, I hope this post gives you the big picture. Committing your time, money and energy to the most sought-after professional business degree is a great start but, as we always say at the Rotman School, it is the start of something big!

Claire

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