Is an MBA a route to high finance?
There has been a persistent myth that MBA graduates do rather well in investment banking and high reward financial careers, but the facts are that MBA careers in high finance vary as much as the markets themselves.
Historically MBA employment within investment banking seems to mirror the performance of the world’s financial markets. As far back as the 1980s, more than 25% of MBA graduates ended up in banking, until the 1987 market crash. Subsequent to that crash, MBA graduates involved in banking reduced to barely 17%. Even so, whilst MBA graduate bankers may not be immune to the cold winds of recession markets, they do still seem to find a considerable niche in the finance world. This is good news as earnings for MBA bankers are some of the highest.
This desirability of MBA graduates amongst financial institutions seems to be a long-term phenomenon on both sides of the Atlantic. In the recruitment year due to climax during the last half of 2007, a large multi-national corporate finance, accounting and business consultancy (KPMG) have attempted to double the number of MBA graduates they hire, both in the UK and the US.
An increasing factor in the hiring of MBA financial recruits is the desire of employers to recruit both new and established (mature) graduates. This would seem to indicate that MBA practitioners remain desirable employees within financial services throughout their careers.
MBA providers within Business Schools are also increasing their links with financial service providers and employers. In some cases this is leading to more formal partnerships and exchanges of talent, knowledge and expertise. For example, Britain’s Durham Business School has announce such a formal link with the Bank of Scotland (May 2007), whereby interested MBA students can be selected for project work with the bank, as well as involving the bank within some its teaching elements.
Links to more on these items:
- Most popular employers amongst US MBA graduates
- Most Popular Employers Amongst US MBA Graduates. The recent MBA graduate and student survey published by Ã¢ÂÂFortuneÃ¢ÂÂ May 2007 in the United States, shows that American MBA graduates seem to favour working for management consultancies, although Google takes first place.
- Identifying the Best Business School for You
- Identifying the Best Business School for You Selecting the right business school (b-school) is the most important decision in the application process. Before limiting your options to high profile schools, investigate all possible options available to you as a consumer of graduate management education.
- MBA for Lawyers, The Cass Business School, City University-London
- WorldÃ¢ÂÂs first MBA specifically for lawyers. In recent years many MBA courses have included ever increasing numbers of specialist options or electives relating to specific industries, regions, economic activities and professions. However the Cass Business School (City University-London) went one step further in September (2006) and has been running an MBA specifically designed for lawyers.
- AMBA the Association of MBAs be commercially aware
- AMBA Ã¢ÂÂ the Association of MBAs: be commercially aware. One-way to kick start a career is to take a Masters of Business Administration (MBA), with the speed of business activities accelerating in the global marketplace, people need to be more commercially aware than ever. The MBA qualification is the well established route to gain the necessary skills and knowledge.
- MBA in Asia, The best businesses have entrepreneurial spirit
- The best businesses are growing, have entrepreneurial spirit, are run by determined leaders, focus on pushing limits, and above all are constantly trying new things.
- Full-time MBA
- A global MBA with an Asia Pacific focus. Students can choose an Asia specific track such as China, Japan or Vietnam. Hawaiiâs only AACSB accredited MBA program. The cohort format fosters teamwork and peer learning
- Full-time MBA
- The Full-time MBA is an intensive one year programme, which offers a rigorous and challenging process of personal and management development.
- Part-time MBA
- The Part-time MBA is a 3 year part-time programme, designed for those working in a wide variety of managerial, technical and professional roles.