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I know that we (Veritas) are getting a lot more students than usual. When the economy isn't performing well, people head back to school in droves. It was the same when I graduated college in 2002 with a history degree - everyone besides accounting majors had trouble finding jobs... hence, I went to grad school and got a master's in accounting

So, I think this will be a tough year for admissions. Students should work hard to "beat the GMAT" as much as they can, since the competition will be stiff this year.

Great forum -

Interestingly, I have gotten a lot of inquires about the state of MBA job prospects in a weak economy. We all hear about layoffs on Wall Street, but how will this impact MBA hiring; not only finance-related jobs but elsewhere -

NP

Actually, the government turned investment banks into regular banks. They wiped out an entire sector. And I think that will see less applicants to top school this year for two reasons:

1. people/families have no money to pay for top schools.

2. One of the great incentives of B Schools was the iBanking with it's huge bonuses. with that's gone, many prospective students will think twice before coughing up 100K for studies.

Tolmar - unfortunately the hard data doesn't support your theory. Top MBA programs are reporting a 20-40% increase in applications this year. Going to school during a downturn in the economy is a great way to 'ride out the financial storm'

N

Though lots of smart people are out of their jobs but still most of people follow each other. So if one of them, probably leader kind of person says that it's better to go back to studies (even if it is rumor), then most of the folks will follow that. Reason being we are habitual to move in herds, especially during depression. If it is not the trend then may be everyone would have their own Google, Microsoft etc as their founder have been thought "Out of the box" since the foundation of their respective companies.

As Eric said it was happened earlier too during year 2000 then History will repeat itself, may be with necessary tweaking.

In India, the charisma of Investment Banking were just started and students have started thinking beyond choosing the engineering/medical careers. Unfortunately/Fortunately! it breaks down even before it would catch up some speed.

I guess that though there may be lack of jobs for the MBA Students in the market but still marketing students will get the jobs. I think, marketing is ever green field for business students like mechanical is for the engineers. No matter of what, it would never fail. So, marketing guys may get the jobs either they have to sell investment bonds or computer software or may be something else.

Code -

Slightly off topic, but I am curious to get your impressions of opportunities for top US MBA grads in India?

Many of my Wharton classmates are relocating to India (primarily those with banking and consulting backgrounds) with fantastic jobs and salaries. However, is it really a gold mine out there?

Would love to get your/others input.

VP_MBA_Guru wrote:Code -

Slightly off topic, but I am curious to get your impressions of opportunities for top US MBA grads in India?

Hello Nikhil,

May be but new to such discussion apart from technical one. So will learn with time. As far as I know there is lot of opportunities of US MBA grads in India. Reason behind this as follows:

1. Most of Indian MBA institutes doesn't offer any specialization in Banking sector.

2. Most of the investments banks at India belong to US companies. So, for services like public dealing, local network etc., the Indian MBA graduates are hired whereas to control the operations, to deal with local managers, US mainly trust (as I have heard and experienced so) trust their native MBA candidates. So, automatically at higher post changes of US MBA grad increased relative to the Indian graduates whereas for lower positions, Indian MBA graduates are suitable for such posts. This relation is true in every foreign company branch at India. I guess, same for other countries too.

3. Since India is a developing country and still is lot of scope of investment. So most of the investment plans that executed at develop countries, irrespective of their success can easily be implemented and tried at India or any prospective developing nation. So, yes Investment banking has still scope in India.

4. Rupee to Dollar ratio: This ratio has still maintain it's level at India. Since, India is very cheap as compared to US or other European nations, so US MBA grads can save more at India rather than as at their respective nations. So usually they accepted even less paid jobs at India as compare to US. For example, may be US candidate earning 5 grands per month at US can save about a grand at US but on the other hand same candidate can save more than 2 grands at India even for less salary (suppose salary 4 grands only at India). So earn to expenditure ratio is greater at India.

5. Another major reason is future prospects. US/European native citizen as a manager having experience in Asian nations is in great demand for the higher managerial post at India/other Asian nations especially China, Vietnam, Singapore and Malaysia at the local branch of US and European firms. This demand will be sharply increased in upcoming 3-4 years. Again the reason is trust factor, which usually people have in their own country citizens.

At the end I would like to say like any other Indian that come and see it yourself. We welcomed everyone.

Just my 2 cents...

@ VP_MBA_GURU

and that's of course if you take for granted the statements from the schools publish. I've learned to always look at the facts, not at what people tell you. Is there a school that publishes a certified (by accountant) report of it's applicants numbers? I don't think so. And of course they will say that the numbers are higher. I haven't ever heard them saying that there is less demand for their schools.

I really think during this year people will have less money, not like in the 2001 period. It just have to influence in some way. I think the only solution is if schools will open their funds accounts, and the more I think about it, the more logical it seems to me. If the school is so certain in it's admission process, and in the value of the degree it gives, so why not put some money where their mouth his?