With the economy in an uncertain state, people are constantly looking for a way to stand out in the job field. Many students internationally have found a solution by enrolling in postgraduate business schools. Some people are even choosing to fund their own path by paying for their EMBA degree instead of depending on their employer to pay.

Business schools have been around in some form for 250 years, so the solution to turn to a business degree is not a new solution. In 1759 the Aula de Comércio was founded in Lisbon. This was the first institution to specialise in commerce and paved the way for business schools to start. Ecole Supérièure de Commerce of Paris was founded in 1819 and was the world’s first business school.

Deciding if business school is right for you

There is a variation of business school types. Some business schools are departments or colleges that specialise in business within a broader university. There are university graduate schools that offer the Master’s programs. In North America two-year programs are offered for students looking to obtain an Associate’s Degree in business subjects and in Europe and Asia there are universities that only offer business classes.

The university graduate schools that offer the Master’s programs are currently rising in popularity. According to a survey by the Graduate Management Admissions Council half of the graduate management programs reported an increase in applications for the 2010-2011 school year. Part-time MBA programs seem to be ending their applicant decline with an increase in the number of applicants received in both 2009 and 2010.

The business school model can act as a supplement for students from all different undergraduate degrees especially if they have spent a few years in the work force. The format of business school typically falls under three categories - case study format, skills-based format or business simulation games.

The case study method was founded by Harvard Business School after the school realised there were no textbooks that were really helpful. In this method, students are given case studies of historical accounts from actual businesses. These studies mention products, markets, competition, sales volume, management and other factors that students use to discuss where this business should go in the future. In the skills- based format professors focus on quantitative methods including operations research, statistics and decision science. Business simulation games are also used where interactive, computer-based games put students in real life business situations.

Deciding what business program is right for you

There are many different Master’s programs that postgraduates can apply for within the business school model. There is the Master’s in Business Administration (MBA), Master’s in Business and Management (MBM), Master’s of Management (MM), Master’s of Accountancy (Macc), Master’s of Marketing Research (MMR), Master’s of Public Administration (MPA), Master’s of Science in Management (MSM), Master’s of Health Administration (MHA) and Master’s of Finance (MSF).

The continuation of a business education occurred for the first time at the University of Chicago Booth School of Business, the first business school to offer a PhD programme and an Executive MBA program (EMBA). The number of students applying for EMBA programs has increased for the last three years. Fifty-nine per cent of EMBA programs reported an increase in applications in 2010 after a three-year decline. Normally, companies will pay for their employees to attend EMBA programs. A more surprising statistic is that despite the bad economy, the number of applicants that are funding themselves has increased during the last year. As the job market continues to be so unstable, more people are trying to be proactive about their futures. By enrolling in a business program, they are able to more easily change jobs and make themselves more valuable to their current job at the same time.

Applying for the business program of your dreams

Applying for a postgraduate business degree program is not a spontaneous endeavour. Students are expected to send in an application form, transcripts from their bachelor degree, complete application essays, a resume of work experience, recommendation letters and test scores from either the GMAT or GRE. The GMAT format is changing as of June 2012. The Next Generation GMAT will include a new 30-minute section on Integrated Reasoning. This section will measure a person’s ability to evaluate information from multiple sources including spreadsheets, charts and graphs. In order to accommodate this change one of the two 30-minute essay questions will be dropped from the test.

The change of the GMAT test is just one example of how business schools have to evolve with the economy and world just like actual businesses do. The constant transformation of the program allows it to be a perfect fit for any people who need to enhance their resume or change their path in life. A business degree is a change that can make someone more appealing to many companies, a more viable member of any business and a more educated citizen in this troubling economy.

Rebecca Smith