The New York Times reported this morning that the job outlook for this year’s B-school grads is looking up. Although jobs are still scare and competition for those that remain is fierce, banks have become more optimistic about the market turnaround and have started to approve more new hires and are spending more time recruiting on campuses than they did last year.
“There’s reason for students to be optimistic,” said Tracy Handler, a spokeswoman for the M.B.A. Career Services Council, an association of business school career advisers. “Any signs of recovery are modest. But business schools are looking ahead and seeing a light at the end of what is now a pretty short tunnel.”
There is still a bit of a stigma that some aspiring bankers may have to face. One Duke student told the paper that he and his classmates joke about calling themselves “bank tellers” instead of “investment bankers” to avoid any potential dirty looks. Most MBAs however, don’t believe that the industry has lost any of its prestige or importance and have not been deterred from entering their chosen field.
Upcoming Portfolio authors Max Anderson and Peter Escher felt the same way upon their graduation from Harvard Business School last Spring. Both had chosen a career in business but were uncomfortable with the prevailing notions of what makes a successful banker. They decided to take matters into their own hands to try to reform business for the better and, with the help of their peers, created The MBA Oath, an ethical code of conduct for business grads and leaders that they pledge to follow throughout their careers. Hopefully, all of these new hires will take it to heart when they land their dream jobs.
The New York Times: Job Market Stabilizes for Business Students
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