Skip to comments.Why Our MBAs are Going to the Far East (Is Asia the new promised land for B-school grads ?)
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 jobin 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 Asiaincluding U.S. students like Tsai as well as international studentshas 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 ...
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)
Not sure I have met many I was impressed with.
Yes it is.
If they are, they are staggering toward a mirage.
MBA’s are going to wreck Chinese business too?
That’s where the money and business is (for now)
Evidently they’ve done all the damage they can do here.
And capitalism is thriving in China????
Good. Take the lawyers with them.
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.
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.
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...
A near two-decade mirage?
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.
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.
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.
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.)
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.
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!!!!!!
wow, one building falls down, and no one should do business there.
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.
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.
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.
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.
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.
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.
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.
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.
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.
You'd have bought into Lenin's New Economic Program (NEP), then, too.
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.