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Bernie Madoff Ethics Course Less Of A Draw Than Business Schools Had Hoped

If you’re one of Moynihan’s mini-mistmakers and a slowdown in staffing, dwindling office supplies and your MD’s refusal to make eye contact have left you convinced that you’re among the 10,000/40,000/30,000 people whose brief yet brilliant tenure at Old BAC will soon be toasted over rounds at Phil’s Tavern, you may already be thinking about your next move. And it may have occurred to you that dropping a few hundred grand for two years of team building exercises, team learning projects, team drinking challenges, and individual scamming on undergraduates might be preferable to finding another job in banking / moving back in with your parents. Well, good news: no one else has thought of that yet.

Applications for two-year, full-time M.B.A. programs that start this fall dropped an average of 9.9% from a year earlier, according to new data from the Graduate Management Admission Council, which administers the Graduate Management Admission Test. The decline marks the third year in a row that applications have fallen. …

Historically, interest in graduate school has increased when the job market soured, but the prolonged uncertainty about future growth has discouraged some prospective M.B.A. applicants.

This does not, however, mean that coasting your way into b-school will be as easy as crushing the CFA Level I without studying (which is totally easy, right?). Numbers may be down, but you’ll still need to brush up your Twitter skills if you want to compete with this leaner but more intense pool of MBA candidates.

But even though M.B.A. application volume has slumped, most schools report the quality of candidates, based on their GMAT scores, undergraduate transcripts and work experience, is getting stronger. “You’re not getting applications from those who aren’t serious,” said Dave Wilson, chief executive of GMAC.

Business School? No Thanks (WSJ)

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166 Responses to “Bernie Madoff Ethics Course Less Of A Draw Than Business Schools Had Hoped”

  1. Nailz6 says:

    Damn 3.0 GPA

    – Chicago Back office

    • guy 2 cubes over says:

      I know right? Ugh how am I now going to get into the Mays Business School?

      -East Tejas Conoco Natty Analyst

  2. guest says:

    Yeah… It couldn't possibly be the $250k in debt, the lack of real jobs after school, and the fact that there are only half a dozen B-schools worth going to.

  3. 2_Small_2_Bail says:

    Going from +$200K to 0 to -$100K in earnings prospects for next year is the NKI

  4. Guest says:

    By far the best article I've seen out of Matt.

  5. Nostradmus says:

    MBA was the biggest waste of time and money. 2 years wasted + 1 year looking for work – $88k & forgone wages = same job I would've gotten without b school.

    Top 10 MBA, Class of '0

  6. Some Jerk says:

    Or, for those of you who don’t want to be sink into debt, but are intrigued by the prospect of putting the mad playa skills you’ve developed since grad school to work on a bunch of 19 year-olds in a 101 business course, perhaps you should think of teaching? $29K a year and an endless supply of teen booty is the NKI.

  7. contango says:

    obamomics 101 : just because you're out a few bucks doesnt mean you're not winning

  8. 25th Hour Trader says:

    "Most of these Harvard MBA's don't add up to dogsh*t. Give me guys that are poor, smart and hungry. And no feelings."

    -Gordon Gecko, from a trader who can recite every line in Wall Street from memory like most of us here on DB. Not for nothing, but our hero said this more than 20 years ago and it's just as true now as it was then.

  9. I'm a Dude says:

    Matt,
    would you say the b. madoff ethics class is less of a draw than your DB posts?

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