A student from New York University was smart, had a lot of good internships on his resume, and was president of two clubs at his school. None of this mattered he said when it was time to find a job after school. MBA students today have found themselves facing the worst hiring season of all time. The average number of students without job offers three months after graduation at the top 10 programs was 15%. That number is just 3% points higher than the rest of the top 30. Mark Brostoff thinks that students need to recognize the value of other career paths instead of holding on to their different hopes of working on Wall Street. Recruiters will show up on campus early in the fall to do interviews and hand out sweet deals with bonuses to the candidates they believe deserve to work for them. When the September market collapse happened the campus hiring took a plunge. Last year at UCLA only 7% of students in the top 30 received an offer in the three months following graduation. This year the number was close to 12%. Patricia Baione was a graduate from Columbia Business School and she turned down a great job offer. What she didn’t know when she did this was a year later she will still be looking for a job. Early signs so far this year don’t show that a recovery will happen in incoming jobs. Mark Brostoff believes that the upcoming months will be even worse.
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