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Who are the unemployed MBAs?

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Who are the unemployed MBAs? [#permalink] New post 30 Mar 2012, 23:33
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When bad things happen to people, we all have an almost evolutionary need to create a narrative to explain why it happened, why they were at fault, and how to avoid a similar fate. A lot of time bad luck is just bad luck.

That said....

I am interested in hearing insights from people on this board (particularly those who have been to business school or are there now) about why some MBAs from top programs fail to get jobs. Given the tremendous amount of competition to get in, I am somewhat surprised that many of these top programs have unemployment rates at graduation of 10-25%. It seems particularly disturbing when I factor in the distinct possibility that an MBA program might fudge their numbers a little bit to seem more attractive. I don't know how the stats are compiled at business schools, but I do know that at law school the criteria is whether students have jobs that require law degrees. This led the University of Minnesota to simply employ their unemployed grads in the law library at minimum wage - giving them one of the best sets of employment stats in the country.

So, I guess my question is, what, if anything, are these students doing wrong? Barring events like the financial crisis, are there students putting people off with weird personalities? Do they have the lowest grades on campus? Are they incredibly ambitious and holding out for better offers? Did they get burned out on business and decide to raise families? Most critically, are they unemployed by choice (or distorted expectation) or because they genuinely do not have offers?

Would someone interested in finance at Wharton or consulting at Kellogg actually fail to get offers or would they be unemployed because they were holding out for Goldman and MBB respectively?

I would love to get thoughts on this. I feel like this is one of those issues (like the GMAT: "We accept all ranges of GMAT scores and examine applications holistically") where the relevant parties provide completely worthless information/analysis in the spirit of being politically correct.
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Re: Who are the unemployed MBAs? [#permalink] New post 02 Apr 2012, 05:54
I would read "Ahead of the Curve" if I were you, the chapters he had the recruiting process were eye-opening.

If you want a job upon graduation you will find one, if you want your dream job (you must work for BCG or your life is meaningless)...that is far less likely
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Re: Who are the unemployed MBAs? [#permalink] New post 03 Apr 2012, 04:27
Thanks for the recommendation. I will check it out
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Re: Who are the unemployed MBAs? [#permalink] New post 04 Apr 2012, 21:32
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I have seen some stats (I swear, they were real) that stated that most MBA grads change jobs within 1 year of graduation. So, most will change and switch for another job. Which tells me that most settle for the first/best thing and perhaps even those who find the best job/offer are a bit disappointed or get an even better one.

From my experience, I switched jobs 6 months after.... my first job was not my dream job but it helped pay the rent and student loan.
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Re: Who are the unemployed MBAs?   [#permalink] 04 Apr 2012, 21:32
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