RBC Wealth Management Chief Uses Threat Of Layoffs To Take A Swipe At MBAs

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John Taft, the Chairman of the Securities Industry and Financial Markets Association and the CEO of RBC U.S. Wealth Management, said he's hearing firms are planning to cut back due to the skittish market and softening economy...He said staff reductions will likely affect all levels—even those with years of experience and expensive MBA degrees. "I think the paper value of an MBA might be overstated," said Taft. "For it to be useful, it needs to form part of a wider package of skills and attributes, and more than a mere credential next to your name." Taft said on the job experience in the capacity to perform in the workplace is more important than whether or not you have your MBA. [CNBC]

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