MBAs Without Jobs
from the effects-of-the-downturn dept
Back during the tech boom, a lot of people I knew didn't want to get their MBA because they were doing so well without one. Now that everyone's returning to business school to "wait out" the downturn, some of the folks who actually did make it through are having trouble finding jobs. Plenty who got job offers have had them rescinded or "pushed back" almost a year. The funniest part is how one of the companies spins the deferred start date, saying how they're giving their new hires an opportunity to do something different for a year. Of course, people who spent $80,000 for a two year program often can't afford to "do something different" unless that something different pays a pretty nice salary. I know, among techies, it's a popular past time to trash folks with MBAs (until they sell out and get one), but there are plenty of good MBA graduates out there, and this isn't a good sign. Of course, there's also the part of me that says a good MBA program teaches the students to be able to deal with change and react well to it - so here's their first opportunity. The person quoted saying she's afraid that her MBA will be less valuable a year from now seems to have done a very funny sort of NPV calculation when she decided to go to business school. An MBA should be valuable no matter what you do for the rest of your career. If you think it's only going to be valuable for one year, why would you spend $80k and two years to get it?