Since starting the business school application process, I have been somewhat perplexed by the employment numbers at top schools. It seems that at even very good programs, you will frequently have a full 10-25% of a class graduate without jobs.
This is one of those issues where parties involved seem totally unable to give a cogent and candid response to what is going on. The schools don't seem to treat it as much of an issue, while business journalists love writing stories about how "the MBA is no guarantee"
What I have not gotten a clear sense of is who are these people who are not able to get jobs. Are these people who are ridiculously ambitious and holding out for something better? Are they actually not getting offers? Do they fall at the bottom of the class or have certain personality issues that put people off? Is it possible the numbers are even worse than they appear (I know that with JDs Minnesota Law School fudged their numbers by giving all unemployed grads jobs in the law library, because it was a position that required a law degree eventhough it paid somewhere around minimum wage).
At Wharton, for example, are there large numbers of students interested in Consulting or Finance who honestly get no offers, or are they simply not getting offers ator Goldman and holding out for those?
To keep the conversation focused, I am not asking about schools outside the top 20 who very well may have placement issues for other reasons. I am also not remarking on the spike in unemployed students that coincided with the financial crisis.
Any thoughts or theories on this?