As we prepare for our MBA admissions interviews, it would be resourceful to be well-informed about the mortgage mess and to be well-equipped to have a meaningful discussion about the credit and mortgage crisis with our interviewer.
A few articles that maybe of interest:
http://www.investopedia.com/articles/07/subprime-overview.asp
http://hbswk.hbs.edu/item/5771.html
http://www.stockhouse.ca/blogs.asp?page=viewpost&blogID=314&postID=43982
What the mortgage and sub-prime mess really means for prospective students like us....
As we stand at the threshold of making a $100k investment (if we are admitted to a business school of our choice), we need to bear in mind that if we are interested in finance, that summer internship is going to get even more competitive. No field in finance is spared and investment banking, corporate finance, sales and trading or private equity are no exceptions.
As you make the choice of the school you want to pursue your MBA, 'RESEARCH' about your areas of interest and narrow down to the areas that you are most passionate about. Also make it a point to research whether the firms in your field of interest consider your school as a core school for recruiting. As more and more financial institutions like Citigroup, JP Morgan, Bear Stearns find themselves affected by the mortgage crisis; they are going to leave no stone unturned to save costs. Recruiting budgets are among the first in line to be revised and are expected to shrink further with corporations visiting only their core schools for recruitment (atleast for the time being).
Do your research, weigh your risks and make the best decision!!!
2 comments:
just stumbled upon your blog through links from BW.
Interesting question (thought I'd dispute the $100K, more like $150K! :)
Another way to look at it is, if the Fed continues to cut rates yet keeping inflation in check and Asia - which is flush with cash - continues to pour in, it is possible that this may bottom out by early 2009. If that happens, by the time we get out - 2010 - "normalcy" may return.
I also think this is where flexibility and Alumni networks will matter. If you are willing to relocate on the other side of the globe, there maybe better options. That's where an extensive MBA alum network like Wharton or CBS may trump some of the other schools.
I totally agree with you.
By the laws of economics, the economy should be on the path to recovery by the time we graduate(Potentially!) in 2010. This should present us with a better job market for finance jobs.
Yes, the alum network and soft skills should be very useful.
Thanks!
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