2008 Woodie Awards
'The Master's is the New Undergrad'
Ieva Augstums
Issue date: 10/30/06 Section: Holt News
Young professionals are hitting the books once again, but for reasons unfamiliar to their older office counterparts. Today, a master's degree in business administration, for both career and personal reasons, is becoming the new bachelor's degree.
"I hate to say that, in some ways, it has become an almost basic requirement if students are going to improve in their careers," said Steve Perkins, associate dean for graduate programs in the School of Management at the University of Texas at Dallas.
Like a growing number of graduates already settled in the workplace, many Gen Xers (ages 25-39) and Millennials (24 and under) easily become restless.
Three to five years into their careers, some start longing for a promotion or raise, others may want new experiences, and still others simply want to become more educated to position themselves for the future.
"It's this perception among our generation that the completion of an MBA means something," said Robert Paugh, 32, who started the professional MBA program at Southern Methodist University this fall. "The master's is the new undergrad. We are all here for different reasons."
After nine years of consulting experience, Paugh admits the changing face of today's work force helped with his decision.
"I don't want to be 50 and not have job options as a professional because I did not plan or think ahead," he said. "There is a human capital aspect in returning to school and completing my graduate degree: to help ensure both my future and my family's future."
The way business schools and other graduate programs attract students has changed with the Millennial generation.
"Attitudes and values are different than they were 20 years ago," said Bob Ludwig, spokesman for the Graduate Management Admission Council, a nonprofit educational organization. "A lot of it has to do with the economy and the personal situations of these generations."
For baby boomers (ages 40 to 59) who earned a bachelor's degree in the 1970s, career paths were clearer.
"I hate to say that, in some ways, it has become an almost basic requirement if students are going to improve in their careers," said Steve Perkins, associate dean for graduate programs in the School of Management at the University of Texas at Dallas.
Like a growing number of graduates already settled in the workplace, many Gen Xers (ages 25-39) and Millennials (24 and under) easily become restless.
Three to five years into their careers, some start longing for a promotion or raise, others may want new experiences, and still others simply want to become more educated to position themselves for the future.
"It's this perception among our generation that the completion of an MBA means something," said Robert Paugh, 32, who started the professional MBA program at Southern Methodist University this fall. "The master's is the new undergrad. We are all here for different reasons."
After nine years of consulting experience, Paugh admits the changing face of today's work force helped with his decision.
"I don't want to be 50 and not have job options as a professional because I did not plan or think ahead," he said. "There is a human capital aspect in returning to school and completing my graduate degree: to help ensure both my future and my family's future."
The way business schools and other graduate programs attract students has changed with the Millennial generation.
"Attitudes and values are different than they were 20 years ago," said Bob Ludwig, spokesman for the Graduate Management Admission Council, a nonprofit educational organization. "A lot of it has to do with the economy and the personal situations of these generations."
For baby boomers (ages 40 to 59) who earned a bachelor's degree in the 1970s, career paths were clearer.
Be the first to comment on this story