Posted on 10/06/2010 9:04:16 AM PDT by WebFocus
Be very careful before diving into an MBA program right now. Even students from the top MBA schools are frequently without job offers, and those in mid-tier schools are jobless in droves as shown below in the chart from Econompic. You can see the rate of graduates' joblessness in red.
Now we're pretty sure that MBA's from top schools will always benefit their recipients, if only for the network of contacts they build for the long-term.
However, those considering lower- or mid-tier schools should do some serious homework into the financial cost because as shown above you could very well end up without the career advancement you hoped for and just a large debt to show for it. Two years of additional real world experience might be the better choice.
(Excerpt) Read more at businessinsider.com ...
What?.....They won’t take Obama’s shovel ready jobs?
This implies that MBA owners think they are owed a job because of their MBA. Newsflash - if there are no jobs, there are no jobs ...... for MBA recipients either. Stand in line and take your lumps. Sorry about all the money you borrowed and spent on getting your MBA - you can pay that back for the next twenty years at almost Zero percent courtesy of Obozo!
Yup, we really need MBAs. After all, everyone wants to make quality products like GM and Chrysler.
Those figures are for just 3 months after graduation. Many such grads from the better schools just take the summer off if they don’t have just what they want lined up.
Better MBAs than lawyers.
An MBA only helps those who had a history of good performance before getting their MBA, not people who get an MBA without any real-world experience.
RE: if there are no jobs, there are no jobs ...... for MBA recipients either.
There was a time when the dream was to start your own business and CREATE jobs.
Now it seems, every smart kid just wants to be a manager...
RE: Those figures are for just 3 months after graduation.
You sound very optimistic that these graduates will get their 6 figure jobs 6 months after graduation... if so, what’s the reason for such optimism?
Whatever happened to starting in the mail room?
RE: Better MBAs than lawyers.
I have a nephew who lives in Los Angeles who graduated from UCLA and passed the California bar last year.
He’s still unemployed...
His problem is you cannot go where the jobs are as a lawyer. If you want to go to New York for instance, you have to re-take the NY bar exams.
The only two places where your California law license is recognized is in California ( official unemployment rate : 13% ), and Washington DC.
RE: Whatever happened to starting in the mail room?
That was the secret of Michael J. Fox’s success. But then, he did not have an MBA degree..
Or run a bank.
Yes - it’s tough doing your own thing!
My daughter will finish up her MBA in March. While I am very proud of her and her hard work and working full time, I am afraid she has wasted a lot of money and time. Perhaps in 2012 when we get a Republican president, things will improve, but between now and then, I am not optimistic.
Indeed.
There’s far too many MBA’s who have no business world experience to speak of.
And it shows when they’re hired.
As such, I believe that in coming years, the employment prospects for MBA graduates are going to be dim. There’s easily 20% of the MBA graduates every year who are basically worthless or worse than worthless, and they’re not going to get a job doing what they had planned on.
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