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Bye, Bye B-School, or why even hedge fund managers no longer believe in MBA
- cstejerean 19y agoI'm not sure on the policy, but linking to articles that require registration seems like a bad idea.
- myoung8 19y agoNYT is free now.
- cstejerean 19y agoIndeed it is, but it still requires registration AFAIK
- pg 19y agoJust use the NYT link generator http://nytimes.blogspace.com/ http://nytimes.blogspace.com/ to get a url that doesn't require it.
- ctkrohn 19y agoThis article seemed a little strange to me: it seems almost obvious that getting an MBA is a bad idea for many areas of finance. I interned on a trading desk at a major investment bank last summer and will be starting a full time job there in a week. Very few of the younger people there had MBAs, and hardly anyone was planning to get one. The people who had MBAs seemed to be people who hadn't started off in trading but came from another career (e.g. computer programming). The MBA gave them an "in" at the bank, when they otherwise wouldn't have been considered. It seemed like MBAs were more common in traditional investment banking and corporate finance. The people I knew in IB seemed to think of an MBA as a symbolic, but useful credential. That opinion may be changing though. Finally, the article was spot on about people who are getting MBAs two years in. If you did well in your first two years at a bank, you're looking at 200k-300k in total compensation. Why would you give that up to get a degree that won't significantly increase your future earnings potential?
- rwebb 19y agobusiness school is good for: 1) building a network 2) changing careers 3) getting a brand on your resume.
- karzeem 19y agoYeah, and it's a little surprising that the Harvard Business professor in the article basically acknowledged that.
- rwebb 19y agoindeed. and there will be a massive influx of banker, private equity, and hedge fund b-school applications this year. i'm guessing the majority of that article was penned +2 months ago.
- Alex3917 19y agoI was considering posting something making fun of MBAs, but then I realized that would have made me feel guilty. Which almost says something in itself.
- cellis 19y ago..."Some, of course, plan to stay in finance their entire careers, and they, too, are very focused on earning fat bonuses fast." duh.
- comatose_kid 19y agoAccording to Jim Cramer (Mad Money guy), he has little interest in degrees - a track record or successful investing is the main thing. This viewpoint works well for software too.
- rwebb 19y agocramer wants more people churning the stocks he talks about.
- comatose_kid 19y agoWith a net worth estimated between 50-100M, Cramer has little to gain from this. I'd really like to hear more evidence behind your opinion.