I just read another article on how MBAs are having their visions of "corporate jets" crushed by the realities of the economy. One of the trends Business Week reports is MBA programs are seeing is more graduates interested in nonprofit and government jobs. Here is one of the most illuminating segments of the article:
"Better than Nothing
Business schools have already been seeing some movement toward nonprofit professions, though historically those students have been outnumbered by investment bankers and consultants. Few new graduates—4.4% last year—typically take positions in nonprofits or government, says Kip Harrell, president of the CSC and vice-president for professional and career management at Thunderbird School of Global Management. However, the financial crisis and the scarcity of six-figure offers, could accelerate the do-gooder trend. Patrick Perrella, the director of MBA career development at the University of Notre Dame Mendoza College of Business, broke it down this way: It's an easy decision "if your choice is a government job at a lower salary or no job at all."
What I find interesting is how this is positioned as a cynical trend with students looking for jobs, period. I would hope that students who enter nonprofit and government service have a passion and an interest in their new industries. As a taxpayer and advisor to several nonprofits, I would hate to think that these students are working in their jobs by default.
Something NOT mentioned in this article is the enormous cost of an elite/Ivy League MBA and the return on investment the student (and/or parents) get. Is it still a good "investment" if the job you get pays similar to one you could have gotten with just a bachelor's degree?
Any comments from students who took a nonprofit or government job because it was available instead of their vision? Are you still okay with the cost and time you invested?
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