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MBAs no longer in demand


By tovarichpeter   Follow   Mon, 7 Jan 2013, 9:11am PST   466 views   5 comments
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http://www.theatlantic.com/business/archive/2013/01/there-are-officially-too-many-mbas/266880/

U.S. now has a glut of MBAs. The problem, it seems, is the proliferation of B-grade B-schools. Universities are now conferring 74 percent more business degrees than they did in the 2000-2001 school year. Much of that torrid growth has been driven by part-time and executive MBA programs at less-than-prestigious institutions looking to cash in.

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Rin   Mon, 7 Jan 2013, 9:33am PST   Share   Quote   Permalink   Like   Dislike     Comment 1

MBA-ism is about cronyism, not academics.

The two pinnacle industries for B-school graduates, management consulting and investment banking, do NOT actively recruit from outside of the circles of Harvard, Wharton, Stanford, Columbia, London (Business or Economics), Univ of Chicago, and a handful of places with brand name recognition.

For most other persons, they get an MBA while working full-time, to later parlay that experience into a management career. What happens, more often than not, is that their friends recruit one another between companies and thus, it's more a clubhouse effect than anything else.

For past few decades, during downturns, B-school grads have been facing difficulties in getting recruited, if they weren't cherry picked by an associate at a Lazard or some other exclusionary firm. This had also occurred during the '92 and '02 recessions. During these times, it's probably best to hide the MBA, and try to find a job as an individual contributor.

zzyzzx   Mon, 7 Jan 2013, 10:56am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 2

Hasn't there been a glut of MBA's for decades? Not just since 2000-2001???

raindoctor   Mon, 7 Jan 2013, 11:02am PST   Share   Quote   Permalink   Like   Dislike     Comment 3

Maybe, we need robots or automation tools to get rid of management consulting and investment banking. Any progress on these fronts, Rin?

New Renter   Mon, 7 Jan 2013, 1:40pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 4

raindoctor says

Maybe, we need robots or automation tools to get rid of management consulting and investment banking. Any progress on these fronts, Rin?

Yes, something like this:

Rin   Mon, 7 Jan 2013, 11:26pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 5

raindoctor says

rid of management consulting and investment banking. Any progress on these fronts, Rin?

MCs are a fashion statement; so as long as managers are afraid of accountability, they'll always be there. Kinda like expired flea collars for a dog ... as long as someone sees the collar, the assumption is that the due diligence was done.

The tag line is :

"Well ... Mc_Kinky Co or Booze-BackAlley said it was a good idea. It's not my fault that it completely failed and now we're liable for millions. The market just wasn't ready for my great organization." --- Exec VP of XYZ Technology Partners

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