I was surfing the web when I ran into this article about MBAs (and lawyers) and their difficulties finding jobs. I had to eat crow because my motto after law school was "I wish I got my MBA instead." So, apparently, they are feeling the effects of the recession and squirming under the pressure as well. So, MBAs, lawyers, doctors... anybody else want to join our pity party? Why anyone goes to professional school anymore, I have no idea. Read on:
Job offers dwindle for MBA and law school grads
By Darrell SmithNelson Chiu shook hands with the PepsiCo representative, exchanged a few brief words and received a parting "good luck."
He was dressed in a crisp, dark blue pinstripe suit on a recent Wednesday, and his voice was starting to fade; he'd been at a career fair inside the University of California, Davis, field house since 11 a.m., talked to more than a dozen companies, and it was closing in on 2 p.m. on the afternoon of his daughter's first birthday.
For Chiu, who earned his MBA in 2009 from UC Davis' highly regarded Graduate School of Management, a solid lead would have been a great gift.
For years, someone like Chiu with a newly minted degree from a top-flight business or law school had the closest thing to a golden ticket for a high-paying job. But the ongoing recession has brought graduates – many staggering under mountains of student loan debt – face to face with a new economic reality.
For most of the past decade, markets for both groups of grads were humming: 10 percent to 20 percent growth per year for MBA graduates, according to the nonprofit Graduate Management Admission Council; a 10-year stretch of near-90 percent job placement for law grads, the National Association for Law Placement reported.
But those days seem like ancient history now.
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