MandelbrotSet
Registered: Dec 2007
Posts: 7246 |
05-27-08 01:57 PM
Quote from mingsphinx:
The MBA class of 2004-2007 are probably the worst affected by what is happening. They finished college between 1995 and 2000 and were the lucky ones who survived the dotcom collapse. The guys who have just entered school are the lucky ones as they get to wait out the storm. For those who have been given the boot, they can kiss their high paying jobs and Wall Street careers goodbye. Those who were smart saved up and paid off their student loans. Those who were dumb bought co-opts at inflated prices and deferred payment on their loans because they did not think it would ever happen to them. People who gets MBAs from places like Harvard and Wharton probably never imagined that bankruptcy would touch them; but under the present circumstances, we will hear more about how MBAs are ending up unemployed and penniless. Now does that not put a smile to your face? 
It isn't exactly fair to say that they "should have known" ... when they couldn't really have known anything, to be honest with you.
And as far as getting a co-op etc., NYC is very segregated in its domiciles and locations where people can find decent housing, not to mention that the job requirements are often 20 hour days, 8 days a week, so they needed to live in a decent area just to deal with the job.
You never really see the axe when it's coming for your head.
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Not a good time to be in school to study finance for sure.
