Current MBA students and graduates are experiencing a totally different job market than they did last year, reports the New York Times in an article entitled Job Market Stabilizes for Business Students. While last year students and graduates scrambled for internships and full time positions, often getting turned down over and over again, this year's students are benefiting greatly from the fact that banks are finally climbing out of the recession.
Yes, the rest of the country is still plagued and angered by unemployment rates and bank bailouts, but b-school students are beginning to see the light at the end of what is now a pretty short tunnel, as Tracy Handler, a spokeswoman for the MBA Career Services Council, puts it.
For example, 20% more banks interviewed at UVA Darden this year than last, and so far, job offers from banks to Darden students have risen 33%. At Duke's Fugua, investment banking internship offerings have doubled since last year, more banks are interviewing at Duke, and more students are attending the Wall Street field trip. UNC Kenan-Flagler has seen a 67% increase in investment bankers visiting the campus this year.
Jeff Fischer, Kenan-Flagler director of career management, explains the b-school job market well: The MBA population is like the end of a whip. When cycles swing up and down, students are the ones who swing up and down the most in terms of employment.
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