Stories of joblessness abound as companies attempt to ward off the ill effects of recession with fat-trimming shears. No exemption from layoffs and downsizing exists even for high-level business executives; they too are at risk of falling into the “between jobs” or “transitional period” categories. Management-level employees aren’t immune from the universal question: “How do I bulletproof myself and my resume?”

The logical and practical option seems to be some manner of continued education. But if the economy continues to rain bullets down upon the job market, and with some executives finding shelter with new academic careers, do we run the risk of becoming the most well-educated poor country in the world? Have the rules changed for those looking to make themselves a more viable product in such a tight job market?

Before the panic button gets pressed regarding any of these questions, Chris Tietyen, director of the Milwaukee School of Engineering’s Business Excellence Consortium, would like to urge everyone to consider his analysis of the current state of affairs. He says that the trend toward continued education for those executives who are unemployed or looking to strengthen their skill set will benefit the individual executive, and the overall business mechanism will not be damaged by their pursuit of higher learning.

“The figures are out, we’re at 10 percent unemployment,” he says. “One of the underlying factors along with those figures is that productivity in manufacturing is up. So what companies have done is increased their productivity, even though they have gone through downsizing and cut their staff.”

In his view, this fact presents a conundrum of sorts. “This means they’re not looking to bring in new people,” he explains. “But you’re always going to need people to run the business.”

The crux of his assessment is that companies will be able to absorb the hit to their potential employee pool created by downsizing or academic flight due to their ability to increase their staff’s productivity. In turn, those who emerge from school in the next two to five years with an MBA or higher-level business degree will be better equipped to break into management positions, even if the economy hasn’t recovered. Jim Woodrum, associate dean of the Evening and Enterprise MBA programs at the University of Wisconsin-Madison’s Business School, agrees with Tietyen’s analysis that the trend is likely not going to be harmful to either party. He does, however, offer words of caution to those executives weighing the education versus employment question.

“For someone who is unemployed or looking for employment, making the decision to pursue an education is usually based on two premises: The first being that things [economically] will be better in two years than they are today, and second that the person will have gotten skills along the way that will make him or her more valuable two years from now,” he says. “I would argue that if you are just going to get an MBA based on the first of those two premises, that’s probably an insufficient reason.

In other words, if one is just saying, ‘I’m going to bide my time in school and hope it’s better later,’ that doesn’t seem like a real good reason to pursue a degree,” Woodrum says.

His view on becoming a more valuable product over time for a business executive is traditional in that it’s all about the skills and knowledge that one can gather, both in the workplace and the classroom. For him the question lies not in whether the executive’s decision to pursue these skills in the classroom is harmful to the overall market, but which avenue of education is best based on the individual’s unique circumstance. The route to gaining these skills, and in the process helping to bulletproof one’s credentials, can be travelled in one of three directions.

The path to higher education

First, there are full-time MBA programs that include a 12 credit or more course load and roughly two years to complete. A second option exists in the close cousin of the full-time program, the part-time or evening MBA, which of course requires a smaller per-semester course load but greater number of semesters to complete. There is also a third option in limited-scope seminar training aimed specifically at business executives and managers hoping to sharpen a particular facet of their professional acumen. But how does one go about weighing the options and selecting the one that best fits their circumstance?

As Woodrum sees it, the first step in determining whether a full-time or part-time MBA is the better choice is determining how satisfied one is with their current professional station and their present skill set. Those who are unemployed or unsatisfied with their current career path must answer the question: Do I want to build a whole other set of skills to pursue a different sort of career? If the answer is yes, then they almost have no choice but to go and pursue a full-time degree. Conversely, if an executive has the good fortune of being currently employed and is happy with his or her current career path, but still wants to add further weight to his or her credentials, then the part-time option might be more appropriate.

Tietyen says that in addition to the networking opportunities and theoretical knowledge gleaned from either type of MBA program, there are some definite practical benefits to pursuing the part-time option that might make a more appealing route for some, particularly for management and executive-level individuals who are currently seeking out new employment, whether through downsizing or for someone who is currently employed.

“You have the freedom to go out on interviews during the day without having the additional worry of missing classes,” he notes.

“With some other full-time programs you effectively take yourself out of the marketplace. But with evening and weekend programs the person can continue a job search or employment, which looks pretty positive on a resume as opposed to a gap in employment.”

Dr. Linda Salchenberger, Keyes Dean of Business Administration for Marquette University’s Business School, suggests a part-time program, especially if a manager or executive expects to be making a transition from one area of expertise to another.

“In this case you are going to need two things,” she says. “You’ll need the academic credentials, namely an MBA, and you are also going to need some relevant job experience.”

Her advice for an executive looking to change his or her path, regardless of current employment status, is to attempt to find both a job and a part-time MBA program that will help sharpen both sets of skills so the executive is ready to move on to a more viable position when he or she obtains that degree.

The message in an MBA

Salchenberger also emphasizes how significant obtaining an MBA, by whichever method, can be in the process of either bullet-proofing an already employed executive or helping someone in the “transitional” phase break back into the job market.

“In general certainly the most valuable thing to do for anybody in these positions is to seek an MBA, because it acts as a signal to current or prospective employers that you have reached a certain level of advancement in your career,” she says. “And also, that you are a little beyond the technical aspects of whatever your current position is, and you really are ready to take on some significant leadership roles.”

An alternative to either species of MBA program exists in the form of seminars directed at management-level business executives. Woodrum believes these two- to three-day meetings are ideal for those who are looking to gain specific pieces of knowledge relevant to their current position.

“For example, if I just need a little bit more understanding of accounting, or a little more information on marketing, then these sorts of classes are a better option for me,” says Woodrum, noting that the University of Wisconsin offers literally “hundreds of classes” each year on various management-level topics. Salchenberger also says these types of classes are invaluable to someone looking to pick up additional knowledge without diving headlong into any sort of MBA program.

“There are a lot of leadership and leadership development courses…and quite honestly one can do a lot to enhance and enrich his or her career by reading up on and seeking out these sorts of courses,” says Salchenberger.

Based upon the insights provided by the state’s educational experts, the rules haven’t really changed for executives looking to ensure their continued marketability to employers. Perhaps not a magic bullet per se, the MBA still stands as a sensible avenue to protecting oneself in a job market war zone.

By Patrick Newman

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