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In yet another look at how the financial downturn is changing job prospects, the NY Times reports that suddenly MBA candidates are thinking outside of the Wall Street finance firm box when it comes to post-grad careers. One Wharton student was considering rabbinical school while an NYU Stern student started a show company, "For me, the Wall Street crisis was a blessing in disguise." Harvard Business school said its job postings were down 30%, with a 40% drop from financial firms, plus " 78% of Harvard’s second-year M.B.A. students had job offers, down from 90 percent at this time last year." Another Wharton student is now looking at a job at the State Department, "A lot of my peers, we’re exploring things that we used to not even think of as an option. A finance major who was minoring in music was suddenly looking into opening a jazz club. All of a sudden, I saw that a lot of Wharton people were interesting."
Wall Street Not The End-All, Be-All For MBA Grads
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It's the same media that NEVER mentioned Muslims' hatred of Israel as a possible motive for 9/11.
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Blah, blah, blah. . . I'll believe it when I see a "trend" that lasts more than a month. During the 1990s everyone wanted to be a management consultant. Then they all wanted to work for internet startups. Then it was hedge funds and private equity. MBAs just follow the money.
Wow! Now that the end-all, be-all for making money doesn't make you money anymore, MBA grads want to find new ways to make money!!? AMAZING!!
But hey, I guess this means in a couple of years we'll start seeing jazz clubs with bouncers at the door and $350 bottle service and show companies with $95 bleeders..
Are there people who actually want to be investment bankers independent of the money? Really?
I'm sure these MBA students are not taking a job under six figures. They didn't get an MBA to make $50,000 a year.
You're assuming they can even find a job much less a job that pays $50k in this economy.
I don't see why this posting is focused on the MBA students mentioned at the end of the article rather than the undergrads who are the primary focus (there are lots more of them, therefore the odds of them getting a job are even tighter). Wharton is both a grad and undergrad program, people.