It’s a well known fact that business schools students who graduated in 2009 took the brunt of the financial crisis head on. However, a much less talked about topic has been how significant the financial crisis has been for various business schools. At ZoomInterviews we believe that students’ success in landing a job in a more challenging economic environment reflects, to some degree, the quality of the schools these students hail from. For aspiring MBA applicants, it may be useful to take a closer look at this information, to understand how a school’s brand aides students in a turbulent job market, and how schools have responded differently to boost their hiring numbers during this difficult time.
US business schools
We can see that in 7 of 15 top US business schools more than 20% of the class of 2009 students were not able to secure full-time employment within three months of graduation. This is sure to give even the most enthusiastic MBA applicants a moment of pause, particularly given the substantial financial and time investment required to go to business school. If your dream is to go into investment banking or consulting and the job market makes obtaining that dream exceedingly difficult you may have to re-evaluate whether this is the right time to return to school. The average percentage of students that found employment within three months of graduation decreased in the 15 top US business schools from 93% for students who graduated in 2006 to 79% for those who graduated in 2009.
The most impacted schools were UCLA (Anderson), Emory (Goizueta), Columbia Business School and UPenn (Wharton).
European business schools
Interestingly, European business schools were less impacted by the crisis and employment situation. More surprisingly, some of them even improved their employment numbers. Only in 3 of the top 15 European business schools were more than 20% of students not able to secure employment within three months post-graduation. It’s also worthwhile to note that the average percentage of students that found jobs within three months of graduation was significantly higher in Europe (85%) relatively to the US (79%).
While there may be various reasons explaining bigger impact on some schools than on others (e.g. location, focus on financial industry, size of the class) we would advise applicants to further acquaint themselves with the employment statistics of their targeted schools in order to better understand their employment prospects and probability to graduate without a job in a more difficult economy.
In addition we would encourage applicants to ask admissions representatives about specific steps which their schools’ career services departments implemented to support their students during the downturn. Career services’ response to the crumbling job market will reveal much about the departments commitment to their students’ success in the job search and the level of resources available to fulfill that commitment. All applicants should evaluate this carefully before they make their enrollment decisions.
2020 MBA Research Guide - Choose your MBA
F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach.
Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?
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+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method
Use Multi-Attribute Utility Theory
Understand the Top 5 Risks
Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour
Comprehensive MBA Research Guide: Includes Top MBA Programs by 19 Specializations:
+ General Management
+ Operations Management
+ Supply Chain Management
+ Luxury Management
+ Information Systems
+ Hospitality Management
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+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee
Top 31 MBA Programs in United States – Total Cost & Salary
Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary
Top 20 European MBA Programs (Based on Actual Salary Increase)
Top 20 European MBA Programs (Short-term return on investment)
Top 20 Affordable European MBA Programs
Top 10 MBA in UK – Salary & Fee
Top MBA Destinations Based on Happiness Index
Top MBA Destinations based on Innovation Index
Top 10 MBA Job Markets based on Cost of living and Purchasing Power
Top MBA Destination: By Economy
+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA
MIT vs. Stanford MBA
Haas vs. Ross MBA
Kellogg vs Ross MBA
Booth vs Wharton MBA
MIT Sloan vs Tuck MBA
IMD vs. INSEAD MBA
IIMA vs. ISB
+ MBA in France (2018)
Top Industries in France
Top MBA Programs in France
+ MBA in the UK (2018)
Top Industries in the UK
Top MBA Programs in the UK
Scholarships in the UK
- IoT and IIOT
- Management Consulting
- Post-MBA industries (German Top Schools)