MBA News: Even Mighty HBS is Not Immune

Every year we encounter a few candidates who assume that if they can just get into HBS or Wharton, the road to easy riches will be paved for them—as though someone will say, “HBS? Wharton? Oh, go sit in the corner and wait for a massive bonus.” Of course, that is not the case, and an article in the Boston Globe highlights this fact. According to the Globe, HBS sent 44% of its graduates to financial services firms last year and now have 18 of them in limbo at Lehman Brothers alone. Further, a professor from MIT is expecting that Wall Street hiring will be down by 30-50% this year. What are the schools doing about it? They are adapting their curricula, holding impromptu events to turn the crisis into “takeaways” and deploying career counselors to Wall Street to meet with alumni. Meanwhile, students are contemplating other careers, as career advisors are advising them not to follow the next herd. 

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