So is it a good time to go for an MBA or not? Can you ride out the recession in business school? Will you end up with total loans approaching the national debt and then graduate without a job?
These are the kinds of questions I am asked in emails and on forums. And of course I don’t know the answer with certainty. But I do think that there is a certain “group think” in the media. In the boom times, everything was booming and the good times were going to roll forever. In the bad, everything is gloomy and the bottom is nowhere to be seen.
In any case, Harvard Business School’s Director Dee Leopold posted today a Class of 2009 Employment Update. In her words, “As of today, 77% of those seeking employment have received offers.” She doesn’t provide details about salary levels, industries, or companies, or the percentage with offers at this time last year, which I assume was higher. Regardless, 77% is a high percentage for February.
Yes, these are Harvard grads, and those stats are not that high at many other schools, but the sky has not yet fallen down. MBA’s graduating this year are getting jobs. And that can’t be said for many of the recently laid off MBA wannabes pounding the pavement.