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The opposite is occurring in the medical field. We are now seeing the beginning of what will be an acute shortage of Doctors over the next ten to fifteen years. The graying of the large number baby boomers and the number of physicians who are retiring are working against each other to exacerbate the shortage. The AMA has asked medical schools to increase their enrollments but only a few have complied to date.
The "get rich quick" aspect of IB and the allure of Wall St, coupled with the reduction in net income of physicians due to increasing liability/malpractice insurance costs and lower payments from health insurance companies steered many of our best and brightest away from medical school and into B school.
Don't get me wrong, not everyone is cut out for Med school and should be pursuing other interests, but there are many who could have chosen either path that saw what they perceived to be a shorter route to big money and took that career path.
It's going to be a tough market for B school grads for a while. It will be interesting to see if grad school enrollment jumps as many go into a holding pattern to let things settle out before jumping into the job market.
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