not the year to graduate with your MBA...

im sure no surprises here. interesting nonetheless. http://www.msnbc.msn.com/id/30622026//

I’m surprised. I thought it would be much worse than what this article states.

MBAs are getting the job BA Business kids used to get. I saw some BA Business grad stats for a local university in the paper last weekend. Those are the really depressing numbers.

I know 5 people heading to investment banking jobs and a few to s&t from a top 40 school. I dont put too much weight into it

I think there is an oversupply of college graduates in certain fields and an undersupply in others. Simple Economics.

maadeezy Wrote: ------------------------------------------------------- > I think there is an oversupply of college > graduates in certain fields and an undersupply in > others. > > Simple Economics. No. Simple Economics would arbitrage that away. :slight_smile:

explain how simple economics will arbitrage away the abundance of human capital skills. the market is not as efficient as you think.

Anyone think this MBA job market will be any better over the next year?

It’s brutal right now. I’ve talked to many students at top 7 programs and about 40% of the graduating classes don’t have jobs. Last year the banks stopped hiring, this year the consulting firms stopped. Many are going back to their original employer to simply wait it out. It should hopefully improve next year, it’s hard to imagine it getting any worse.

Rant: I work with 2 MBAs both from top 5 schools. I hereby solemnly swear that I am not exaggertaing: They are really dumb and dont know much. Its not that they dont know finance, business, and investment stuff; they are just overall clueless. Its not just me who says this at work. I also know CFA holders who are pretty clueless. I am the smartest person I know at work and I have never got a job based on my CFA charter or MBA (not from a top school).

needhelp Wrote: ------------------------------------------------------- > Rant: > > I work with 2 MBAs both from top 5 schools. I > hereby solemnly swear that I am not exaggertaing: > > They are really dumb and dont know much. Its not > that they dont know finance, business, and > investment stuff; they are just overall clueless. > Its not just me who says this at work. > > I also know CFA holders who are pretty clueless. CFA and MBA don’t train you for actual hands on stuff, it’s all (mostly) useless theorhetical stuff that is either too far out of line with reality or flat out wrong. All the best investors I know have liberal arts degrees and nothing else :confused: They are really smart people who spent a lot of time following the markets and didn’t bother to waste time “credentialing.” The people you know are probably smart but green. Hopefully, they will get there in time.

bromion Wrote: ------------------------------------------------------- > needhelp Wrote: > -------------------------------------------------- > ----- > > Rant: > > > > I work with 2 MBAs both from top 5 schools. I > > hereby solemnly swear that I am not > exaggertaing: > > > > They are really dumb and dont know much. Its > not > > that they dont know finance, business, and > > investment stuff; they are just overall > clueless. > > Its not just me who says this at work. > > > > I also know CFA holders who are pretty > clueless. > > CFA and MBA don’t train you for actual hands on > stuff, it’s all (mostly) useless theorhetical > stuff that is either too far out of line with > reality or flat out wrong. All the best investors > I know have liberal arts degrees and nothing else > :confused: They are really smart people who spent a lot of > time following the markets and didn’t bother to > waste time “credentialing.” The people you know > are probably smart but green. Hopefully, they will > get there in time. Very, very good point.

You can try and put one of those people with a degree in Arts in charge of the fixed income division of a bulge bracket IB. The real finance stuff is applicable under the condition that your job is strictly a finance job.

I would like to see a liberal arts degree person manage my 401k. I would rather have someone who has a theoretical and experienced background manage my dough.

Its not about the fancy degrees or certificates, its all about the intrinsic attitude/ability of the person. I mean a lipsticked pig with fancy makeup is still pork while a 95k nutered stallion can win the Kentucky Derby.

maadeezy Wrote: ------------------------------------------------------- > I would like to see a liberal arts degree person > manage my 401k. > > I would rather have someone who has a theoretical > and experienced background manage my dough. I’ll let an English major from Harvard do the job any day over some third tier BBA. It’s all about knowing how to problem solve, think clearly etc.

So people at State College’s can’t think clearly. Bush want to Yale.

Didn’t say state colleges. Said third tier. Plenty of those are private, too. BBA’s at those places are useless. Not enough critical thinking skills are emphasized. Don’t make me defend Bush.

DanLieb Wrote: ------------------------------------------------------- > maadeezy Wrote: > -------------------------------------------------- > ----- > > I would like to see a liberal arts degree > person > > manage my 401k. > > > > I would rather have someone who has a > theoretical > > and experienced background manage my dough. > > > I’ll let an English major from Harvard do the job > any day over some third tier BBA. It’s all about > knowing how to problem solve, think clearly etc. but what i am saying is that the top shcool MBAs i know are cluueless. getting into an top MBA program is a function of your essay, recommendations etc and that is a function of your family wealth and background.

So bascially your are generalizing the entire Top MBA School Population based on the two you work with? If you had to work with or start a company with someone which group of people would you pick from? 1. Someone from a top liberal arts program? 2. Someone from a top MBA program? Also getting into a top MBA program involves alot more than essays and recommendations. The most important factors consist of work experience, Undergrad GPA, and GMAT. I dont’ think these factors can be solely attributed to wealth and influnce. Even if wealth and family background are factor toward top MBA admissions, I can bet that there is a statistical correlation between family background and innate abilities of the applicant. Statistically I bet most of the wealthy families attained their wealth through intelligent/hard work as opposed to inheritence and luck. These work habits and genetics tend to be passed down to their offsprings. Of course anyone can name examples of spoiled kids in rich families wasting their life away or influencing college/grad school admissions but these cases are the exceptions to the norm. As such they are more ingrained into our memory and distorts our perception of reality.