What happened to the 08 and 09 MBA grads
I know undergrads who graduated into the GFC faced a very tough job market. People who would’ve gotten into IB or other finance roles were shut out and had to find other work. Luckily, if they didn’t get on the path they originally wanted, they could use the MBA route as a reset button.
But what about people who were already using their reset button and graduated into the worst finance job market in recent history with $150k of debt (probably at a fairly high interest rate if the loan was fixed rate). How screwed did these guys get?
Interested to hear any stories
A director at my bank got his MBA from Stern and graduated during the crisis. He wanted to do IB but the bank he did his summer at barely brought anyone back full time. Couldn't secure another bank full time since barely any were hiring. He ended up in a strategy role at a top health insurance company (think United, Aetna, etc). He added a lot of value there, became connected as fuck, and was brought on as a director.
Interesting career path, but he did get to basically skip the associate and vp years which I imagine must have been nice. I'd be pretty interested in hearing how he dealt with the debt, since I'm pretty sure he's from a modest background.
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