Bologna Process: What Does It Mean?

The process involves new requirements for degree and transcripts. In accordance with the ECTS (European Credit Accumulation and Transfer System), a bachelor's degree can be obtained only for three years. That's why business schools should prepare themselves to treat European three-year education at the same level with American four-year one.

However, European education should not be put on a stage with Indian BComm, which is not equivalent to bachelor's degree and requires further preparation for admission to a business school. In addition, this year prepares changes in requirements for transcript.

More bachelors, more masters. The most significant implications of the Bologna Process include increase in the number of graduates with a bachelor's degree. Experts already estimated universities will prepare more than 2.4 million students per year, when the Bologna process finally enters into force. This will also lead to an increase in the number of applicants wishing to obtain master's degree.

Reduction of training time significantly saves costs. In addition, three years in the university seem more optimistic than four. However, higher education often delayed by 5 or even 7 years in pre-Bologna Europe. Students were not placed in strict framework, so the end of training depended on their desire.

Besides, only a small number of students "survived" until graduation. Consequently, only "selected centenarians" had a chance to become masters.

Thus, Bologna process makes higher education attractive. Certainly, some students will go to work immediately after the bachelor's degree, but saved time will necessarily make them think about the prospect of returning to the alma mater.

If considering continuation of training after a certain experience, MBA turns ideal. Maybe this trend would not be particularly pronounced for American students, but European applicants will definitely feel changes.

However, one cannot make predictions so early, as Europe has its own view on what students will do. Professors doubt popularity of MBA will increase. On the contrary, they consider an employer's perception towards bachelor's degree will change. They believe bachelor's degree is enough to move up the career ladder.

Established MBA markets in Britain and United States feature different trend. Number of students wishing to continue their education after bachelor's degree will be reduced to 20-25%, which is 500,000-600, 000.

More willing to study abroad. Bologna process will reduce amounts of money government annually spends on student training. Moreover, it provides smooth transition to paid education. The same system of assessment of knowledge will allow students moving freely from one country to another, without losing valuable years of education.

This is a huge minus for European MBA, since students will strive to secure business schools accepting students with sufficient academic knowledge. On the other hand, changes caused by Bologna process can attract American students.