Are we applying for B-school at a right time

Question

With all the doomsday sayers going tra-la-la-la, BW reporting about how UBS got whacked, some Indian derivatives guru crying 'wolf' and hearing about lots of I-bankers getting pink slips, is it the right time to go to B-school now?

I have been catching up on a lot of reading stuff these days and suddenly feel that the future is uncertain, especially I if will be graduating with a B-school degree, and get a job at McDonalds or as a gas station attendant in a NJ turnpike pump with 200 grand in debt.

I have been filled with gusto and enthsuiasm along with the exotic fantasy of flipping a bird at my boss and letting him know that I have a chance at B-school. But now these stupid news have been messing my mind.

Anybody feeling a lil disoriented or is it just a harmless touch of application-olisis?

mNeo · Answer

Well .. economy going down or whatever right now tells nothing about what the scene will be like 3 years from now (When we look for jobs). So, I don't think too much about it.

aviroop · Answer

Ya, I am believing in the same notion but they (they as in noobs at BW, Economist and a random crystal ball gazer) r saying that the economy is either gonna be bust like Japan in the 90s of become a plateu like the US was in 1960-1975.

Neways.. I like the marines motto, or is it the army's

Expect the worst, hope for the best....

I follow those golden words with my heart

dosa_don · Answer

I can relate to your confusion. While I agree that the future is uncertain, I think it is always going to be the case- the only difference is it is being spoken about a lot more. Inspite of the uncertain future, particularly in the financial services industry, I heard from multiple Chicago GSB students that banks are coming back a second time around to campus to hire. 

I am more concerned about the increased competition from the bankers who are losing their jobs or are worried about the uncertain future and hence applying to schools now.

aviroop · Answer

Ya those b#@@#ards just made tons of money with their fabulous 2006 year end bonuses and now want to make our lives miserable.

and I just hope B-school realizes their desperation and gives our desperation a higher priority.

Else it viva la Mexico - they have arrested the top drug lord and I am sure there are some positions there I can apply for.

mNeo · Answer

You'll find prasad at a McD, kryzak at a pump on 'I-5 South' (He's gotta stay in Cal) and me at NJ turnpike (I've gotta stay at east-coast). You, my friend, will be a bouncer at a "Gentleman's club".

aviroop · Answer

Damn.. I thought I would be a pimp in a small alley in Soho..I can live as a bouncer..

dosa_don · Answer

Avi might a little small for a bouncer but yeah he would make an awesome pimp :lol:

ncp · Answer

If not McK, McD will do fine. Thank you very much!

lepium · Answer

I'm getting the opposite signals right now. Most 2nd years have solid offers from their summer jobs and are taking the time to exhaust the chances of getting their dream-dream jobs.

L.

kidderek · Answer

Free happy meals!!

riverripper · Answer

Since I am not aiming for a job in IB or even MC I am not too worried, even if I was I don't think I would be too concerned. I would be much more concerned about the visa issues if I was an international student...thats where the real problems could be in the future if the government doesnt get their act together.

ncp · Answer

I am on the same boat as river. I am not in this thing for a job. I have a fairly defined career path and some good connections in the industry I want to work. So, its no biggie.

kryzak · Answer

LOL, I'll be on the I-5 just outside Tijuana

Anyway, I graduated and was looking for a job during the worst job market in decades (2001, right after 9/11), so unless the 2nd Great Depression hits, I'm not too worried. Also, my career path is entrepreneurship or VC either domestically or internationally, so if the US tanks, I can always go to China. But seriously, Avi, I think it's just application-olitis hitting you. Don't worry too much about the future that you cannot control. If we graduate out of a top 15 school, our connections and education should get us somewhere, even if it's not the perfect job at first.

R.E.D. · Answer

Economy can't go down for ever, it's fluctuating => in 5-10 years it can go up back. Why worry?

Even if everything that bad you wait 4-5 years and get a decent job in new economy. The thing that we should really worry about is that we have oil and gas for 15-20 years for supporting increasing demand for fuel and there should be another change in basement for our economy. This could to change of the powers countries have and raise some companies while sinking others.

3underscore · Answer

Honest - I am frustrated and annoyed enough by people two years away from recruitment getting all shaky about this.

If you are good, they will want to recruit you. If places cut staff, they cut expensive staff. And in two years time I might be relatively well paid, but I certainly won't be expensive.

It isn't worth worrying about much unless you are a prop trader, or MBS trader obviously.

aurobindo · Answer

I think MBA from a top school is a kind of cushion to take up Economy's ups and downs over a life time..

aviroop · Answer

Your annoyance and frustration has been taken note of. I usually tend to frustrate people a lot - one of my strong points. :wink:

On a serious note, I agree that I am thinking too much into the future or getting too concerned about nothing, but when three of my best friends who work in IB are now twiddling thumbs and calling me!!! for a job.. its something that made me sit up There is always Mexico.

Are we applying for B-school at a right time

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