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

 
Most Helpful

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.

Dayman?
 

Quia voluptatem ut assumenda esse et in dolores. Labore aliquam ut eos numquam et adipisci. Reiciendis aliquid aut sit ea corrupti autem fugiat.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
GameTheory's picture
GameTheory
98.9
7
kanon's picture
kanon
98.9
8
dosk17's picture
dosk17
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”