Sobering words from a MBA graduate

Graduate School Business School - MBA
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<p>For those who think having a MBA will fulfill your employment dreams, here’s one person’s perspective.</p>

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<p>^This is an extreme case due to really unfortunate timing. This person’s career is not over. Maybe, it will take him six years to get where he hoped to be in four, but presumably whatever helped him get into a top MBA program will eventually translate into him obtaining and performing well in a desired job, but there are certainly no guarantees in life, which is what it seemed like he was expecting. </p>

<p>Plus, did he not take out any student loans or pay for any of grad school at the time? I came out of an MBA program only a few years before this and owed less than half that amount.</p>

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<p>I have to agree with gellino. One of the biggest problems that I have seen at HBS and other top B-schools is that many students there believe that they are entitled to complete immunity from a bad economy. </p>

<p>Consider, for example, the story of the guy meeting an unemployed grad from HBS from the 80’s. Well, just because you went to HBS does not mean that you will never be unemployed. Everybody runs the risk of unemployment. Or consider the statement: “In the meantime, people without MBAs who have gotten traction at their firms and survive the downturn will have another year or two of experience on top of the MBAs”. Yeah, maybe that is true for those non-MBA’s who did survive the downturn and obtained traction at their firms. But what about all those non-MBA’s who didn’t survive the downturn? Finally, consider the statement that “…the lack of job and financial security has put off personal/family plans as well, perhaps indefinitely”. Again, what about all those people who don’t have top MBA’s and also lack job or financial security? Anybody can lose their job at any time. If laid off, the guy with the MBA has a better chance of finding another decent job compared to somebody who doesn’t have an MBA.</p>

<p>Simply put, while people with elite MBA’s may have problems in a bad economy, regular people also have problems during that bad economy. I suspect most of those regular people would surely love to trade places with the guys with the elite MBA’s, as being a regular person ain’t that much fun. Let’s face it. Most Americans are just living from paycheck to paycheck. For most Americans, if their industry goes through a downturn (i.e. the auto industry in Michigan), they face serious financial insecurity. Having an MBA, even from an elite school, does not entitle you to immunity from the same problems that all other people face.</p>

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<p>This person isn’t very specific (ie doesn’t really detail the methods he is using to land a job and isn’t specific about what type of “dead end” jobs he is applying to). More than likely, many of his problems are self-inflicted but it’s impossible to say when he is being so vague. He is also an obvious doom and gloom exaggerator.</p>

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<p>Obviously, anyone in the Finance is going through a massive downturn. I suspect it will last quite awhile though. The face of international finance is gonna be hurt for awhile. Of course, if you have a track record of creating value, it shouldn’t be tough to get a job.</p>

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<p>Doom and Gloom.</p>

<p>I am willing to bet that with the economy the way it is there are a lot of MBAs, especially ones that are wet behind the ears, are feeling this way. Sakky and gellino make a good point. In a down economy everyone suffers, those with huge school loans and degrees that have, in the past, demand large salaries will no doubt complain the loudest. </p>

<p>I think Resiliency is a word that needs to enter a lot of people’s vocabulary. Thus guy needs to learn what bootstrapping means. I am going to school in the evening for my MBA and will done Dec. 2009 with a general MBA degree. At that time I will have 10+ years biotech experience, a BS in Chemical Engineering, and my MBA. (I am switching from pharmaceutical manufacturing to biofuel consulting right now). If the economy is still slumping I will get an entrepreneurship specialization, probably will do this regardless as I would like to work with and for VCs in the biotech arena, doing so might eventually require me to get a MS in a relevant scientific discipline (cross that bridge when I get there).</p>

<p>People getting an MBA need to think career path, not job path. It’s apparent that the OP quote was from someone who got their MBA too soon, and hangs out with people who use the MBA as a golden ticket, which it obviously is not. It wouldn’t be prudent for me to quit work and go back to school, especially since I have a family to support. Even without that my career progression requires me to continue working while getting my MBA. I personally feel that full-time vs. part-time should be weighed not by the strength of the program but by the requirements and risk level of the individual. Program strength should come into play when selecting a program.</p>

<p>Anyway, HBS is a good institution with some stellar performers coming out of it. If someone is disappointed with their degree from their than I would more than likely blame the student. As with all educations you only get out of it what you put into it.</p>