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Brighter Job Prospects for MBAs
Blogs Stacy Blackman - 03-10-10
Earlier this week, a piece in the New York Times revealed that the job market seems to be stabilizing for business school students. “There’s reason for students to be optimistic,” says Tracy Handler, a spokeswoman for the MBA Career Services Council, an association of business school career advisers.
“Any signs of recovery are modest. But business schools are looking ahead and seeing a light at the end of what is now a pretty short tunnel.”
Business students everywhere are finding banking jobs and internships; the number of banks interviewing at Darden School of Business this year increased 20%, and the number of job offers so far has risen 33%, the school tells the Times. At the Duke Fuqua School of Business, meanwhile, the career office reported last month that the number of students with investment banking internships had doubled compared with last year.
“Ironically, this can be a superb time to enter banking,” Jeff Fischer, the director of career management at UNC Kenan-Flagler Business School, tells the Times. “The MBA population is like the end of a whip. When cycles swing up and down, students are the ones who swing up and down the most in terms of employment.”
It may be premature to predict hiring results, since job offers continue throughout the spring, but the general mood about banking jobs is quite optimistic. Wall Street’s bad rap is slowly fading away, becoming a dream destination for B-school students once more.
Stacy Blackman, has been consulting on the Master of Business Administration degree application process since 2001. She has an MBA from the Kellogg School of Management at Northwestern University and a BS from the Wharton School at the University of Pennsylvania. Stacy has worked with the admissions committees at both schools, conducting alumni interviews and evaluating applicants.