Do MBAs Need a Standardized Exam After Graduation?

An MBA has long been considered a requirement for C-level positions. By earning the degree, a prospective executive has proven that he/she has the chops to succeed in a senior exec role. However, with the exponential increase in the number of degree programs over the past 10 years, some employers are wondering whether "MBA" holds the same authority it used to.

India, in particular, has experienced a quick uptick in the number of MBA programs available in-country, flooding the job market with MBA graduates. But are these MBAs really qualified? To find out, the All-India Management Association (AIMA) has created an exam, reports BusinessWeek, that will "determine whether business school graduates in India are qualified for jobs." Remind you of something? (Cough, bar exam.) Although we don't know exactly how many employers are going to require the exam, AIMA says there's been significant interest.

Is this something employers really need? Or should GMAT scores and work history be enough? And isn't evaluating business schools the job of the AASCB? I tend to believe that, in the end, employers know which schools are strong and which ones are not. They talk to each other, learn from recruiters and talk with graduates of the schools, making a test unnecessary. What do you think? Should we have a standardized MBA exam?