Shortage of police officers throughout the country. Tough to get new hires, tough to get recruits, and difficult to retain trained officers due, in large part, to the stress of the job.
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My son is making six figures as a LEO. He also gets first responder discounts on just about everything.
Think about all the young adults working 50, 60 or 70 hours a week trying to make a name for themselves for a 40 hour salary. Every minute over 42 hours is time and a half for my son. He’s technically limited to 60 hours a week, but the different buckets of overtime make it easy to work longer.
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I wonder if this will bleed into grads …
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Already has from what I’m observing. Many panicked parents asking for help (IRL); their kids don’t seem quite as worried yet.
The trend when kids were turning down offers because the company offered them a starting role based in Dayton, OH when the kid had ranked “SF, Austin, Seattle” as first, second and third choices may be over for now. Or not.
Kids can do a lot of things to increase their desirability as a junior employee, but it will take more than a soft hiring year for that cultural shift to take hold I suspect…
One big change- the super specialized majors- “Golf Management” or “Health care Analytics” may experience a downshift in favor of more general, less content specific majors. Nobody can predict the trajectory of a specific sector of the economy. Someone who performed well in a plain vanilla Applied Math major is going to be able to learn the nuances of “health care data” in a few weeks, if that long. This was a hard lesson the Petroleum Engineering majors had to learn when Oil and Gas prices tanked…
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Article headline, “Even Harvard M.B.A.s Are Struggling to Land Jobs”
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There’s always the Mass State Police. LOL! The starting salary is $80k but Troopers routinely make $125k - $250k. My best friend is 50 and he’ll retire in 6 years with a fat pension.
Great article, but I dislike the presentation. Should have added a chart or list showing percentage of MBAs still looking 3 months after graduation.
As written, the article is a bit misleading by emphasizing that some schools have double the number still looking and others triple, yet the schools with triple the number of grads still looking (Northwestern 13% = more than tripled) is a significantly lower percentage than those which have doubled or experienced slight increases (Harvard 23% up 3% from the prior year).
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Did you see this chart in the article? It does show the rates and the trendlines over the last several years for six “top” MBA programs, even if the rates for all “top” MBA programs were included.
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Yes, I did see this, but I prefer columns as can be found on many other business websites (not sure if CC permits redirection of readers to other education sites).
Columns list: Names of MBA programs, then most recent year placement rates, then prior year placement rates, then change between years. Usually lists anywhere from ten to 50 MBA programs. This allows for better accuracy and easier comparisons among a greater number of programs.
I would tie this back to a trend I had touched upon in a prior thread. IB analysts are no longer seeking (or needing) MBAs in the same numbers as had been experienced in years past.
The typical career progression for IB had been a 2 year analyst role followed by a return to school for an MBA followed by structured IB associate programs.
Currently however, many analysts are being retained and promoted to associate without advanced degrees. A combination of undergraduate work, in house formal training, work experience and CFA are perceived as more than adequate and banks want to keep in house the talent they have invested in. Between the opportunity cost of lost earnings and tuition, it makes little economic sense for a candidate being offered promotion into an associate role to return to school. I will note that there are other potential reasons to seek an MBA, but I am not talking in absolutes.
In light of this dynamic, formal IB associate programs and MBA recruitment numbers have declined as more slots have been filled from within.
I can’t quantify the impact but the numbers feeding into MBA associate programs (particularly at the elite schools included) used to be very meaningful in my experience and I suspect have contributed to the “under employed” MBAs you highlight.
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The article identifies decreased hiring by Amazon, Google, & Microsoft along with McKinsey as the main reasons for the declines.
The top 10 employers of MBAs are Amazon, Google, Microsoft, and seven consulting firms.
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Thanks, you are making my point that over a cycle Wall Street is hiring fewer MBAs and it is impacting eventual aggregate placement results. It used to be in the not so distant past (prior to Google or Amazon hiring MBAs in meaningful numbers), Wall Street (and MBB) were the largest post MBA employers.
With those numbers dwindling attending a highly regarded MBA program no longer translates into finding an IB job while the industries that had filled that career opportunity void are now also stepping back.
As a representative example this is from Columbia’s 2010 MBA graduate placement report. Just shy of 50% went into “Finance” with over 26% of total into IB specifically.
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Of those specific schools….
This is something to be aware of if you have a May graduate entering the job market. It really bothers me this is considered ethical by the companies engaging in the practice.
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I can’t read either of the above articles, but from one job seekers perspective, it’s clear that many job posters are aware of some of the fakes and frauds out there. My son is in the college class of 2026, and spent much of winter break looking for postings for summer internships to apply to. Some nights I’d job hunt with him - searching for things that sounded interesting while I was watching tv and posting links to the announcements to a spreadsheet he made so he could decide if it was something to apply to. I was struck by how many of those announcements gave warnings about job hiring scams and general “beware of unethical behavior” kind of stuff.
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This is part of the reason why I’m a big fan of the in person college career fairs. The university vets the companies and has relationships. You also tend to get an answer much quicker, with fewer hoops to jump, and resumes to send.
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It is a generational thing… college students would rather apply online to a post which might get thousands of resumes, than physically show up at their college’s Career Services office (which you are paying for…) and tell one of the industry advisors “I’d love to work for Disney, Mattel or Hasbro, can you help me find an internship?”
It is MUCH more effective to have your kids college help them network-- admittedly, this generation prefers digital to anything else- than the shotgun approach.
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The other thing I’ve noticed is that many companies have policies that required them to post and interview for positions, even when they fully intend to fill the role internally. This happened multiple times to a friend of my D’s.
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Unfortunately, a lot of companies that visit campuses for career fairs are simply telling students to apply online, instead of interviewing them in person or even taking their resume.
I’ve heard this from a lot of students lately, and they are feeling less inclined to go spend hours at career fairs.
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If there is a physical job fair, a kid doesn’t need to spend “hours”. The college will have published- in advance- who is showing up. The kid interested in an operations or production role in Pharma doesn’t need to shake hands with the recruiter from the CIA and the NSA. And the kid interested in consumer products marketing doesn’t need to drop off a resume at the Boeing booth. It can take 20 minutes to show up, locate who you’re interested in, take a stress ball or ballpoint pen with the company logo, and leave.
Really, don’t let your kids make this more complicated than it needs to be! Encourage them to use the resources that already exist instead of reinventing the wheel.
And for companies that ONLY allow online applications- make sure your kid is applying via their own college’s Handshake portal (companies specify where they want their roles posted) instead of the generic “anyone can google career page” portal.
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