Are there more law and MBA graduates than ever now?
September 30, 2011 Leave a comment
At least that what the GOOD team maintains in a nearly very good infography. Well, at first sight, everything is very nice and well presented …
But then you ask yourself: how is popularity measured? It’s nice to see that all fields became more popular in 10 years. But what does popularity means? The number of registrations? The number of diplomas awarded? Fortunately we know data is coming from the National center for education statistics so popularity can’t mean the number of appearances of students in NCSI or Fringe ;)
So, whatever it means, following this infography, all fields of study saw an increase in popularity in the previous 10 years (see figure below). The most popular degrees in the USA are still in business-related fields, followed by health and education fields. But if you look at by how much these fields became more popular, health-related fields are growing popular faster (+65%) followed by visual and performing arts (+52%) and business is only third (+46%). Let’s also notice that engineering is getting the smallest increase in number of students (+13% only).
Finally when you look at business-related degrees only (see figure below), the popularity of Masters increased the most (if you exclude Ph.D.s: it’s easier to score +77% when you start from 1,201 students than when you start from 240,947 (+77% would mean 426,476 students after 10 years!)).
Conclusion? We are doomed! It’s a Red Ocean! More and more people are doing an M.B.A.! This diploma will soon lose value and prestige!
Will I be able to sleep tonight? Definitely! I have other more important things to worry about (like starting to do some exercises in microeconomics, macroeconomics and financial accounting). Have a good night!
Any other thoughts or conclusion? Feel free to comment below …