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&lt;p&gt;After a 30-year reign, the full-time MBA degree is no longer the almighty king of business school degrees. &quot;Is the MBA Worth it?&quot; asks the WSJ today. As we discussed here before, the increasing demand for the Executive MBA, the online and part-time MBA, the masters in management and other earn-while-you-learn alternatives means that no, for some people, in a recession, full-time MBAs are not worth it. The growing popularity of these flexible programs has atomized the marketplace sparking a need for innovation.&lt;/p&gt;&lt;p&gt;Actually, it&#39;s a lot like the handbag market, wouldn&#39;t you say, Professor Santiago Iniquez, dean of Instituto de Empresa?&lt;/p&gt;&lt;blockquote&gt;&lt;p&gt;In the past, there used to be high-end expensive bags that commanded a premium that locked out lesser mortals and those at the lower end of the market that most people would purchase. But high-end manufacturers invented diffusion ranges that offered branded goods for a broader range of consumers at various price points. &lt;em&gt;[Paraphrased in WSJ]&lt;/em&gt;&lt;/p&gt;&lt;/blockquote&gt;&lt;p&gt;The growth in flexible business programs doesn&#39;t, however, indicate that full-time MBA programs have degraded in quality. It is still considered the most respectable of the business degrees, preferred by recruiters and employers. The full-time two-year MBA program offers the most comprehensive and generalist education along with scads of opportunities to network with abandon. But it&#39;s clear that, these days, leaving your job for two years when jobs are scarce and salaries flat is a risk that isn&#39;t for everyone.&lt;/p&gt;&lt;p&gt;That&#39;s why schools can&#39;t hold onto only promoting the one-size-fits-all model, because the traditional degree doesn&#39;t satisfy the needs of the new prospective b-school student anymore&amp;mdash;a natural change in the lifecycle of a product or good. Whereas once there was a typical MBA candidate, now there&#39;s not. No experience? That&#39;s okay, get a master&#39;s in management (MiM). Already have 10 years experience, kids and a job you don&#39;t want to risk leaving right now? Then maybe the EMBA is your degree. Need more specialized management experience? Well, there&#39;s a degree for that, too.&lt;/p&gt;&lt;p&gt;Deciding between an MBA and one of the other business degrees is really just a matter of assessing your state of affairs&amp;mdash;personal, financial and career-related&amp;mdash;and knowing if the risk is worth the reward. The bigger the risk, the bigger the potential reward and loss. &amp;nbsp;&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;/p&gt;&lt;h4&gt;&lt;strong&gt;Related: Everyone Wants an MBA, They Just Don&#39;t Want to Leave Their Jobs to Get One&lt;/strong&gt;&lt;/h4&gt;

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