作者giyoshi (滿滿的都是愛)
看板GMAT
標題[情報] WSJ文章 Seeking Refuge in an M.B.A. Program
時間Tue Oct 14 11:10:44 2008
寫在文章之前, 有人用小紅傘軟體偵測到Malware,
所以擔心的朋友就不要點連結樓~(不過個人覺得是誤判XD~因為我的卡巴沒事qq)
上google直接搜尋WSJ(Wall Street Journal) 到上面點career 就可以看到此文了
(至少暫時都可以看到~~)
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碰巧在看看有沒有諾貝爾經濟學文章的時候看到M.B.A三個字點進去看的
原文連結
http://online.wsj.com/article/SB122394012554930657.html
大家盡量去看原文啦~感覺比較輕鬆...
轉貼到BBS上落落長....分段也沒好好分~~~^^"
希望有所收穫樓 祝福大家
Business is bad on Wall Street, and business schools across the country are
bracing for the impact: A surge in applications this year to their full-time
M.B.A. programs.
With financial markets in turmoil, the economy slowing down and Wall Street
undergoing a profound structural change, many people are deciding that now is
a good time to head back to school. Some would-be students are the victim of
layoffs roiling the financial industry. Others think their jobs could
disappear soon. Even some applicants whose jobs are currently stable are
deciding that it makes sense to go for a graduate degree now -- since
promotions and new opportunities could be hard to find in the next few years.
Schools don't have application tallies yet -- as deadlines for the first
round of admissions are in mid-October for most top-tier schools -- but many
already are reporting big increases in interest.
New York University Stern School of Business reports a 30% increase in
attendance at off-site information sessions this year. Northwestern
University Kellogg School of Management has had a 22% increase in
applications so far. University of Chicago Graduate School of Business says
it is seeing significant increases in inquiries online and attendance at
information sessions. And University of Michigan Ross School of Business says
that campus visits by prospective students have more than doubled.
People are also registering for the Graduate Management Admission Test in
greater numbers this year. According to the Graduate Management Admission
Council, a McLean, Va.-based membership organization of 165 graduate business
schools, U.S. GMAT registration volume for the first nine months of this year
totaled 129,902, up 5.1% from the same period last year. Veritas Prep, a test
preparation and graduate-admissions consulting company, says its GMAT
test-preparation registration has gone up 50% since June.
The numbers underscore a trend that has occurred in previous economic
downturns. Graduate admissions are countercyclical -- meaning that they move
in the opposite direction of the economic cycle, business schools and
economists say. "When you look back over the last several decades, there is a
strong correlation between changes in graduate-school enrollment and changes
in the unemployment rate," says Linda Barrington, research director and labor
economist at the Conference Board, a New York business research group. The
unemployment rate stayed flat at 6.1% in September from August.
But the severity of the financial crisis and the demise and consolidation of
financial powerhouses that in previous years have nabbed top talent at
schools across the country make this year's flight to business school
different. When this year's M.B.A. applicants graduate, they will enter a
dramatically different Wall Street and potentially smaller job market that
has been altered by the ripple effects of the credit crunch.
"The demand for managing money and the demand for banking skills, that's
going to be here," says Stacey Kole, deputy dean for the full-time M.B.A.
program at the University of Chicago Graduate School of Business. But "it may
migrate to different firms." Ms. Kole says the school is seeing more boutique
firms recruit on campus, as well as employers in other sectors recruiting for
finance jobs. "People who may have gone to Wall Street will go to Main Street
in a finance role," she says.
This year's newly minted graduates already encountered a tougher job market.
At the University of Chicago, the percentage of 2008 graduates that either
had offers or had already accepted them dropped roughly three percentage
points from the previous year, Ms. Kole says.
Indeed, schools say not knowing what the job market will look like upon
graduation could deter some prospective applicants who have stable jobs from
applying. "If you are in a good position and you are not confident of how the
picture is going to look two years from now, you may stay in that position,"
says Peter Johnson, executive director of admissions for the full-time M.B.A.
program at the University of California Berkeley Haas School of Business.
Some applicants are taking their chances. Scott Valins, a former
residential-mortgage-company owner, started thinking about business school
when the credit crunch worsened in late 2007. Now, he wants to get a job in
capital markets at an asset-management firm after graduating. "I might have
to be patient after school and take a slightly more indirect path to get to
my goal, but I have faith in the overall system," he says.
Other graduate schools are also expecting increases in applicants. There were
28,939 Law School Admission Tests, or LSATs, administered last June, up 15.3%
from a year ago, according to the Law School Admission Council, a membership
association of 212 law schools. Kaplan Test Prep & Admissions is seeing an
increase this year in registration for practice LSAT and Graduate Record
Examination tests, as well as graduate-admissions seminars and workshops.
Some people in finance jobs have left for degrees in other fields. Manal Dia,
24, had deferred admission to Massachusetts Institute of Technology's
electrical-engineering and computer-science Master's program for two years to
work as an analyst in the fixed-income-research division at Lehman Brothers
Holdings Inc. This year was her last chance to enroll without having to apply
again. She quit her job to attend MIT just a couple of weeks before Lehman's
September bankruptcy filing. "I left the company having felt that this is not
the best of years to be in finance and that it was a good year to go get a
degree," Ms. Dia says.
Also a factor for students to consider this year: The credit crunch has
roiled the market for student loans. In the past year, 144 education lenders
have suspended private and federal loans, according to Mark Kantrowitz,
publisher of FinAid.org, who has been following the developments.
Still, Mr. Kantrowitz says business-school students should be able to find
loans. Many lenders, he says, have suspended loans for undergraduate and
continuing education students but not graduate loans. For lenders, "graduate
student loans are the most profitable because the loan balances are the
highest," he says. But students may face tighter credit requirements in
getting private loans and pay higher interest rates.
M.B.A. applicants will also likely find the competition for spots
particularly fierce this year. While the number of applicants is expected to
rise, most schools say their number of slots will stay the same. "I'm going
to have to work a lot harder to get into the school I want," says Kunal Das,
25, a search media strategist at Microsoft Corp. in New York.
Mr. Das is applying to three to five top-tier M.B.A. programs this year. He
plans to highlight in his application experience that may help set him apart
from financial-services refugees who are applying -- namely his two years in
advertising at Microsoft and the businesses he launched in college.
To be sure, business schools say they have seen a rising number of
applications for the past few years for a number of reasons other than the
job market. They attribute the trend to demographics: according to the Census
Bureau, last year, there were an estimated 21 million people ages 25 to 29,
up from 18.8 million in 2002. M.B.A. programs are also seeing a rise in
international applicants and younger applicants with fewer years of work
experience.
Those who applied for business school in response to the 2001 recession
caution that applicants should be sure they aren't just doing it because of
job-market conditions. "This is an investment," says Colin Gallagher, who was
laid off from a start-up in late 2001 and attended an accelerated part-time
M.B.A. program at Northeastern University in Boston. "It's a lot of money and
a lot of work."
Things worked out in his favor, he says. In 2004, he found a job through a
classmate as a product manager in Hopkinton, Mass. at technology company EMC
Corp. "If you've thought about going to business school, and you've put it
off because you don't have the time or energy, now is a good time to go," Mr.
Gallagher says.
--
第一句我最喜歡的是
Its cruel, its tough, its business.....
第二句最中肯的是
錢不是萬能, 但是沒有錢就萬萬不能.....
You got to know both of them!!!~~~
--
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◆ From: 123.193.130.215
推 mauricew:感覺我們現在很倒楣 不過還是加油... 10/14 12:04
→ giyoshi:XDDDDD 加油樓!!!^^"~ 那是從美國微觀觀點 10/14 12:49
→ giyoshi:宏觀的角度 有另外解釋 加油啊~~~我明年的= = 10/14 12:49
推 santa:可以請樓上解釋一下嗎 我也明年的> < 10/14 13:35
→ abase0001:網頁有病毒,小心! 10/14 13:47
→ giyoshi:我們可以去壓縮別人的機會XD (自我解釋中 XDDD) 10/14 13:56
→ giyoshi:5F可以解釋一下嗎?= =~ 不就是華爾街日報的網站嗎?? 10/14 13:57
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※ 編輯: giyoshi 來自: 123.193.130.215 (10/14 16:10)
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