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Learn what truly sets the UC Riverside MBA apart and how it helps in your professional growth
11 Feb 2009, 13:45
Kudos
Bookmarks
Article on the 1983 MBA graduating class in a recession. If it weren't for the low salary numbers quoted, you would think it could have been written today. I only pasted a snippet of article. Rest can be found at the link.
Trying times for 1983 M.B.A.s
Vance Bates, 26, had expected 1983 to be kind to graduating Master of Business Administration students. Envious members of last year's M.B.A. crop had advised him that the recession was likely to give way to brighter job prospects this year. But Bates, who will receive his M.B.A. in May and hopes to land a job paying between $25,000 and $30,000 a year, is finding that things seem to have got worse. He has sent letters to 60 employers, and fears that he will have to settle for less than his first choice, commercial banking. Says he: "I never imagined it would be this way. I thought I would be deciding which offer to take, not wondering whether I would get an offer."
Legions of M.B.A. candidates from Boston to Berkeley are wondering the same thing. A record 61,000 students will receive their degrees this year, 26% more than five years ago. The stubborn recession, however, has led many firms to skip the 1983 campus recruiting season, which got under way at numerous schools last week. Result: a student scramble for jobs and a slowdown in salary growth.
https://www.time.com/time/printout/0,8816,951927,00.html
Trying times for 1983 M.B.A.s
Vance Bates, 26, had expected 1983 to be kind to graduating Master of Business Administration students. Envious members of last year's M.B.A. crop had advised him that the recession was likely to give way to brighter job prospects this year. But Bates, who will receive his M.B.A. in May and hopes to land a job paying between $25,000 and $30,000 a year, is finding that things seem to have got worse. He has sent letters to 60 employers, and fears that he will have to settle for less than his first choice, commercial banking. Says he: "I never imagined it would be this way. I thought I would be deciding which offer to take, not wondering whether I would get an offer."
Legions of M.B.A. candidates from Boston to Berkeley are wondering the same thing. A record 61,000 students will receive their degrees this year, 26% more than five years ago. The stubborn recession, however, has led many firms to skip the 1983 campus recruiting season, which got under way at numerous schools last week. Result: a student scramble for jobs and a slowdown in salary growth.
https://www.time.com/time/printout/0,8816,951927,00.html
27 Mar 2009, 13:57
Kudos
Bookmarks
Good find. I actually found this section very interesting;
It's interesting to look back 20+ years and see that MBA job discussions actually focused on fortune 500 companies. It seems that MBA grads back then went to school to learn management and then actually took management jobs at companies that made real products. Apparently it was not always the case that over 50% of every MBA class went into either banking or consulting while looking down upon fortune 500 jobs.
Quote:
It's interesting to look back 20+ years and see that MBA job discussions actually focused on fortune 500 companies. It seems that MBA grads back then went to school to learn management and then actually took management jobs at companies that made real products. Apparently it was not always the case that over 50% of every MBA class went into either banking or consulting while looking down upon fortune 500 jobs.
27 Mar 2009, 17:15
Kudos
Bookmarks
+1 Terp... (only if Kudos was working...)
