Business schools may be at a tipping point and face disaster if drastic changes are not made soon, according to an Academy of Management Learning & Education article. Factors such as soaring tuition and loan debt might even result in students bypassing college, especially business schools.
“One of the things I’ve found especially disturbing in higher education, is that we hear more people say, ‘I don’t really need a business degree,’” said author Kay J. Bunch of Georgia State University.
While business remains the most popular major in the United States, Bunch noted, business degrees earned, compared with other degrees, slumped to a low of 19% in 2014, down from a peak of 24% in 1988. Meanwhile, “only 39% of individuals with business management degrees were working in jobs that required college degrees two years after graduation,” she wrote.