Time Magazine describes the road ahead for MBA's as bitter.
First came the crash. Now come the ripples. At business schools around the country, 'tis the season for MBA recruiting. But for Wall Street wannabes who banked on school yielding a six-figure finance job, bitter reality is setting in. Offers from financial firms are slowing, as budgets get slashed and freezes take effect.
This year's recruiting season may feel longer, more competitive, and more painful for soon-to-be-minted MBAs than any in recent memory. Amid pervasive market uncertainty, admissions officers and students at business schools around the country say the recruiting climate has shifted noticeably, particularly in the financial sector. "Uncertainty is the buzzword," says Deanna M. Fuehne, Director of the Career Management Center at Rice University's Jones Graduate School of Management. "Consulting firms and banks are worried that clients may pull projects and deals. Company recruiters are worried about staff reductions. So it's become a game of 'wait and see.'"