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Why Our MBAs are Going to the Far East (Is Asia the new promised land for B-school grads ?)
Business Week ^ | 03/15/2010 | Michelle Conlin

Posted on 03/15/2010 9:31:02 AM PDT by SeekAndFind

James Tsai is the sort of MBA corporate recruiters covet. He went to a good prep school, earned a degree with honors from Middlebury College, and made vice-president in Bank of America's (BAC) international wealth management group at the age of 26. Today, Tsai is about to graduate, straight A's in hand, from Northwestern's Kellogg School of Management, a top-rated program in America. And he's hustling to land his first post-MBA job—in China.

Executive Class strivers like Tsai used to have just one post-grad career destination, the U.S. Not anymore. "I am doing everything I think I can to get over there," he says.

Every era has its version of the MBA dream. In the 1980s, it was about conquering Wall Street and choppering off to the Hamptons. The late 1990s saw a stampede to Silicon Valley. In the mid-aughts, the gilded, clubby preserve of private equity beckoned. Now, the emerging narrative is about steroidal Asia and its promise of growth. At premiere institutions such as the University of Chicago's Booth School, the University of Pennsylvania's Wharton School, and Northwestern's Kellogg, the percentage of MBAs taking jobs in Asia—including U.S. students like Tsai as well as international students—has more than doubled in the past five years, from roughly 5% of the graduating class to more than 10%. "There is a sense that the center of gravity is shifting," says Julie Morton, Booth's associate dean for career services.

The number of students taking international jobs usually swells in a recession, says Kellogg Assistant Dean Roxanne Hori. But Hori and others believe that the refrain of "Go East, Young Man" is not a short-term response to the U.S. economic downturn but a structural shift toward an internationalized, mobile talent market.

(Excerpt) Read more at businessweek.com ...


TOPICS: Business/Economy; Culture/Society; Editorial; News/Current Events
KEYWORDS: asia; fareast; mba

1 posted on 03/15/2010 9:31:05 AM PDT by SeekAndFind
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To: SeekAndFind

Surprised = Not.

Why should MBA’s stick around this country when capitalism is being destroyed before our very eyes?

I’ve been investing less and less in American companies...moving it to the far east (Matthews China Fund, Matthews India and Vanguard Emerging Markets)


2 posted on 03/15/2010 9:33:54 AM PDT by AdamBomb
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To: SeekAndFind

Not sure I have met many I was impressed with.


3 posted on 03/15/2010 9:34:55 AM PDT by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: SeekAndFind

Yes it is.


4 posted on 03/15/2010 9:35:19 AM PDT by stephenjohnbanker (Support our troops, and vote out the RINOS)
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To: SeekAndFind

If they are, they are staggering toward a mirage.


5 posted on 03/15/2010 9:39:19 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: SeekAndFind

MBA’s are going to wreck Chinese business too?


6 posted on 03/15/2010 9:39:40 AM PDT by Snickering Hound
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To: SeekAndFind

That’s where the money and business is (for now)


7 posted on 03/15/2010 9:40:47 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: SeekAndFind

Evidently they’ve done all the damage they can do here.


8 posted on 03/15/2010 9:41:28 AM PDT by Mr Ramsbotham (A gentleman in the drawing room; a rapist in the boudoir.)
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To: AdamBomb
Why should MBA’s stick around this country when capitalism is being destroyed before our very eyes?

And capitalism is thriving in China????

9 posted on 03/15/2010 9:41:31 AM PDT by dawn53
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To: SeekAndFind

Good. Take the lawyers with them.


10 posted on 03/15/2010 9:42:52 AM PDT by pissant (THE Conservative party: www.falconparty.com)
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To: dawn53

ah...yes....markets in China are becoming more free than they are here.

1) fewer regulations on environmental issues
2) no unions

It’s all about which markets are the most “free” - the US is becoming a friggin’ joke.


11 posted on 03/15/2010 9:43:24 AM PDT by AdamBomb
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To: DonaldC

I understand what you are saying. Send those Harvard M.B.A’s over there and have them screw up the banks,manufacturing and every thing they get their hands on.


12 posted on 03/15/2010 9:43:25 AM PDT by G-THOMAS
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To: Snickering Hound

A number of my fellow MBA grads are now in the Far East..I am looking to go too. Cannot beat the money but for me, family keeps me here at the moment...


13 posted on 03/15/2010 9:44:00 AM PDT by akapossumdawg (There's three types of people, those that can count and those that cannot...)
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To: Ghost of Philip Marlowe

A near two-decade mirage?


14 posted on 03/15/2010 9:48:18 AM PDT by James C. Bennett
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To: AdamBomb

3) Oh forgot one....the press over there doesn’t try to destroy companies like they do in the US.

there are a lot of advantages to opening up shop over there. Leftists have destroyed US markets with legislation, taxes, regulation, unions, environmental laws, special interest groups, press, etc.


15 posted on 03/15/2010 9:48:58 AM PDT by AdamBomb
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To: AdamBomb

I have to agree. I was in China last year and was shocked at how capitalistic it is. The Communist Party is certainly there, but VERY hidden. I never saw a hint of it except at customs and in Tianenmen Square. In the interior of the country, it’s totally capitalistic (I’m not speaking about human right violations, though). I think the Chinese understand they have a good thing going, and aren’t going to squash their cash cow.


16 posted on 03/15/2010 9:52:07 AM PDT by RedDogzRule
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To: dawn53
Capitalism is actually doing better in China than it is doing here. My daughter spent 8 months working there, including two months at a university there.

The way she described China is much like my experience living in Japan in the late 70's. The government may be socialist, but they understand the need of a healthy private sector to generate the tax revenue needed to keep the ruling class in power.

This is a lesson obviously lost on Zer0 and his camp followers.

17 posted on 03/15/2010 9:53:22 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: AdamBomb
ah...yes....markets in China are becoming more free than they are here.

1) fewer regulations on environmental issues

2) no unions


It's true that things move more quickly in China because they do not have the messy democracy that we have. FOr instance, it's been close to 10 years since the twin towers were broguht down by terrorists and we're still quarreling among ourselves as to how we are going to rebuild ( in the meantime, we still have the big hole in downtown Manhattan as a testimony to our inability to move forward ).

If it were China, they'd have rebuilt long ago. However, the myth of the all-knowing central planner in Beijing is just that --- an UNHOLY MYTH. China's brand of capitalism is nothing but good old crony-capitalism where the most influential and connected get the best deals. They are also known to cut corners to maximize profits.

Hence, you have products such as these for instance :


A TOPPLED BUILDING ( NOT CAUSED BY AN EARTHQUAKE ) WITH A WEAK FOUNDATION.


THIS IS THE COUNTRY YOU WANT TO BUY YOUR PRODUCTS FROM ? THE COUNTRY WHOSE ECONOMY YOU WANT TO EMULATE ?

There are many things wrong with America today... but please, the grass is not necessarily greener on the other side.
18 posted on 03/15/2010 9:55:31 AM PDT by SeekAndFind
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To: SeekAndFind
EDIT TO ADD, that topled building occured in Shangai just over a year ago.

Read the story here

The development, known as “Lotus Riverside,” has a total of 629 units, 489 of which have already been sold. Now buyers are clamoring to get their money back, and authorities are making efforts to reassure them. The assets of the project’s developer, Shanghai Meidu Property Development Co., have been frozen and the city officials said the developer’s ability to repay homebuyers was secure, according to a statement on the municipal government’s Web site.
19 posted on 03/15/2010 9:58:42 AM PDT by SeekAndFind
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To: Vigilanteman

We’ve spent some time in China too ( my husband’s company had a branch there, and he traveled there often, we spent 2 months w/him in country once.)

On the surface, it looks like capitalism...but trust me, it’s not. The gov’t allows what looks like capitalism (actually individual freedom to small business people, etc.) but they will stomp it out in a nanosecond, if it gets out of hand (example...giant Google is having issues, and who’s winning...not Google, they’re contemplating leaving.)


20 posted on 03/15/2010 10:00:49 AM PDT by dawn53
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To: James C. Bennett

Based on what, the reports from a bunch of lying totalitarians?

China is a bubble. And the worse part of their bubble is that it is built upon the bubbles of other nations (like ours).

Their economy is not what they (and the Jim Rogers of the financial world) keep telling us.


21 posted on 03/15/2010 10:04:45 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: Snickering Hound
Damm!!!

Just what are American companies going to do without MBAs to fill such positions as "Senior vice president for global support services", "Director of Communications for the East Coast", “Vice President of Mission Related Services”, “Vice President of Administrative Services”, etc, etc, etc???

What's next? American companies might be forced to have a worker to manager ratio of more than 2 to 1? My God, The Horrors!!!!!!

22 posted on 03/15/2010 10:05:08 AM PDT by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
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To: SeekAndFind
"China's brand of capitalism is nothing but good old crony-capitalism"

Right now, I'd be happy good old crony capitalism....
23 posted on 03/15/2010 10:06:00 AM PDT by AdamBomb
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To: SeekAndFind

wow, one building falls down, and no one should do business there.


24 posted on 03/15/2010 10:07:24 AM PDT by AdamBomb
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To: Ghost of Philip Marlowe
China is a bubble. And the worse part of their bubble is that it is built upon the bubbles of other nations (like ours).

Just remember, a country's greatest asset is its ability to produce - China flat out produces - America produces nothing. I urge you to invest in nations that are producers, not just welfare consumers which is what the US is turning into very quickly.
25 posted on 03/15/2010 10:09:25 AM PDT by AdamBomb
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To: Ghost of Philip Marlowe

Our (Australian) economy is afloat because of their massive purchases of raw materials here. If that’s a mirage, I don’t know what reality is.


26 posted on 03/15/2010 10:09:59 AM PDT by James C. Bennett
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To: SeekAndFind

Silver lining: on the bright side, that building toppled but didn’t fall apart - it held together just like super glue. bad foundation, but one hell of a tough building.


27 posted on 03/15/2010 10:12:48 AM PDT by AdamBomb
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To: James C. Bennett
Our (Australian) economy is afloat because of their massive purchases of raw materials here

It seems that the Aussie economy is VERY DEPENDENT on China's growth. The moment their economy goes into deep recession ( many are predicting a huge burst in their bubble ), your economy is going to grind to a screeching halt as well.
28 posted on 03/15/2010 10:14:36 AM PDT by SeekAndFind
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To: SeekAndFind

We were in China last year.These apt.buildings near big
cities seem to go for miles.Our guide lives in one and said that they’re losing their sense of community,since no one
interacts with their fellow apt.dwellers.


29 posted on 03/15/2010 10:27:06 AM PDT by Dr. Ursus
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To: SeekAndFind

The Boy is Brilliant!

Sarcastic - He will come back in 2-3 years with valuable experiance in a one party totalitarian state, just like Obama is implementing here.

Seriosly, He will come back in 2-3 years with valuable asian market experiance that will earn him another big bump in pay.


30 posted on 03/15/2010 10:31:26 AM PDT by lack-of-trust
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To: AdamBomb

I urge you to invest in nations that produce something other than cheap plastic crap and poison toothpaste.

You’re right, we did give up our manufacturing base, and that’s a shame.

But most of what China produces are non-essentials. When the world doesn’t want their trinkets, their manufacturing will disappear.


31 posted on 03/15/2010 10:31:34 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: SeekAndFind

The under thirty cohort are far more likely to have spent a semester or a year abroad during college , makeing the leap overseas easier. No suprise that the percentage is rising.


32 posted on 03/15/2010 10:34:32 AM PDT by lack-of-trust
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To: James C. Bennett

So they purchase raw materials, so what?

Their electricity usage is through the floor relative to what it should be based upon all the raw materials they purchase.

They are building skyscrapers that are largely empty. They are slowly being occupied by displaced workers who gave up agriculture to come to the city to work in plants and who are squatting in those buildings.

They are building highways and allegedly the “middle class” is purchasing autos, but highway usage is very low relative to those numbers, so it appears that those auto purchases are largely by the government, to help distort the true picture.

What China is doing is preparing for war. They are waiting for all the pieces to fall in place before they strike. The first phase of their long-term strategy is economic and manufacturing warfare. They are now stock-piling commodities and building out their military.

Have you seen the rail system on their coast directly opposite from Taiwan? That rail system was built for only purpose, to carry weaponry for an attack on Taiwan.

Believe it if you want to, but I understand the totalitarian and communist mind too well to trust them.


33 posted on 03/15/2010 10:36:09 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: SeekAndFind

The collapsed building is one extreme, but the other is that they are manufacturing high tech, high quality stuff in factories as advanced as anywhere in the world. Just looking at my desk: iPhone, Fuji Camera, Viewsonic Monitor - all made in China.


34 posted on 03/15/2010 11:00:25 AM PDT by MrShoop
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To: dawn53
The correct term, I believe, is crony capitalism a/k/a national socialism. It is a fascist society cloaked in a velvet glove.

I'm not condoning it, just pointing out that China sees the need to maintain some aspects of capitalism, a lesson completely lost on ObaMao.

35 posted on 03/15/2010 11:39:25 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: RedDogzRule
I think the Chinese understand they have a good thing going, and aren’t going to squash their cash cow.

You'd have bought into Lenin's New Economic Program (NEP), then, too.

Sounded good.

Just wait until the Party busts their move to take on the U.S. directly, mano-a-mano, and see how welcome U.S. nationals and companies are over there.

Wait until the Party needs to snug up controls a lot for some reason. You'll choke on their version of "capitalism".

It's rule or ruin. Since the Communists are already in charge over in China, they aren't trying to ruin things any more -- for the moment. Enjoy it while it lasts. First good, big dose of adversity, and the Party will start sending people off to the destructive-labor camps again. As a U.S.-national MBA, you'll have a guaranteed ticket to ride.

You'll be the one helping hold down those legendary Chinese wages.

36 posted on 03/15/2010 5:15:38 PM PDT by lentulusgracchus
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