WHat do post MBA people do without jobs?

Question

A lot of schools have 80-90 percent job rate? Is the last 10-20 percent people that move on for their phd or people that had jobs waiting? Or do I have a chance to be begging for money on the street?

3underscore · Answer

They are stressing about the loans.

pelihu · Answer

I know someone, a friend of the family, who graduated from HBS about 5 years ago. The job market sucked and she didn't find what she wanted right away, so she literally waited a year before taking a job. She's now a VP with a BBB in Hong Kong.

These days, the job market is great for MBAs, but you need to have a strong stomach to wait out the recruiting season to see if any HF/VC/PE firms are hiring. Of course, if you do land one of those jobs, it's probably worth the stress.

flapjack · Answer

What happens to the people holding out for VC/PE/HF that don't get a job? Isn't that a black mark on them if several months after graduation they still don't have jobs, even if they did graduate from an elite business school?

pelihu · Answer

I think the though is that the job market for MBAs is really good right now. The top performers who have legitimate shots at the elite jobs probably feel that if they are unsuccessful in their search they can get a "standard" post-MBA job with little effort.

flapjack · Answer

If you hold out for a PE/VC/HF job and don't get it, what can you do? I would assume that people hold out for those jobs wouldn't want to do consulting. Wouldn't it be too late to get an iBanking job?

johnnyx9 · Answer

I would guess that most people who are viable candidates for hedge funds or private equity, are probably people who went to ultra-elites. As such, they probably have lots of friends who own their own companies. So my guess is that one solution, is a person who waits a while for a PE or HF job and doesn't get it, could then apply to work in banking and on their resume they could say they worked at X Company that their friend owns. I know a couple people at ultra-elite schools right now that used friends' companies to explain gaps in employment.

So the short answer, some people probably just lie and say they were employed somewhere they weren't.

3underscore · Answer

I really can't imagine this happening. Its just such bizarre behaviour - like holding out to marry into the royal family or whatever. I would expect the careers service would slap them hard and point out to them it isn't going to happen unless they work and head somewhere else.

flapjack · Answer

Assuming I get in off of the WL to Chicago or Kellogg, I want to end up in VC/PE. I was thinking it might make sense to do ibanking for a couple years and then try to get into VC/PE instead of holding out VC/PE and running the apparently high risk of not getting a job by graduation.

WHat do post MBA people do without jobs?

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