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In the past, graduates of MBA programs, especially in the US, are almost always assured of a job after graduation. The sad reality now, however, is that this is no longer true.

A BusinessWeek magazine article seems to show that it is a bad time to graduate now since job recruitment has slowed down for most US MBA graduates.

It doesn’t matter if you got the degree from Harvard or Wharton. As you can see in the list below, even renowned MBA schools in the US were not spared from the brunt of the economic recession.

The list compiles the results of a survey conducted among recent MBA graduates showing there is rising unemployment among MBA graduates.

Unemployment Rate among US MBA Graduates

% of students without job offers three months after graduation

1. YALE UNIVERSITY, SCHOOL OF MANAGEMENT

  • in 2009: 8%
  • in 2007: 6%
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2. WASHINGTON UNIVERSITY, OLIN BUSINESS SCHOOL

  • in 2009: 8%
  • in 2007: 4%

3. HARVARD BUSINESS SCHOOL

  • in 2009: 8.8%
  • in 2007: 3%

4. STANFORD UNIVERSITY, GRADUATE SCHOOL OF BUSINESS

  • in 2009: 10%
  • in 2007: 3%

5. MIT, SLOAN SCHOOL OF MANAGEMENT

  • in 2009: 12.8%
  • in 2007: 2%

6. UNIVERSITY OF MARYLAND, SMITH SCHOOL OF BUSINESS

  • in 2009: 13%
  • in 2007: 2%

7. UNIVERSITY OF CHICAGO, BOOTH SCHOOL OF BUSINESS

  • in 2009: 13.5%
  • in 2007: 2.4%

8 (tie). NORTHWESTERN UNIVERSITY, KELLOGG SCHOOL OF MANAGEMENT

  • in 2009: 14%
  • in 2007: 5%

8 (tie). COLUMBIA BUSINESS SCHOOL

  • in 2009: 14%
  • in 2007: 5%

10. UNIVERSITY OF CALIFORNIA AT BERKELEY, HAAS SCHOOL OF BUSINESS

  • in 2009: 14%
  • in 2007: 4%

11. CARNEGIE MELLON UNIVERSITY, TEPPER SCHOOL OF BUSINESS

  • in 2009: 14%
  • in 2007: 3%

12. DARTMOUTH COLLEGE, TUCK SCHOOL OF BUSINESS

  • in 2009: 14%
  • in 2007: 2%

13. GEORGIA INSTITUTE OF TECHNOLOGY, COLLEGE OF MANAGEMENT

  • in 2009: 15%
  • in 2007: 2%

14. BRIGHAM YOUNG UNIVERSITY, MARRIOTT SCHOOL OF MANAGEMENT

  • in 2009: 17%
  • in 2007: 2%

15. EMORY UNIVERSITY, GOIZUETA BUSINESS SCHOOL

  • in 2009: 18%
  • in 2007: 6%

16. UNIVERSITY OF VIRGINIA, DARDEN SCHOOL OF BUSINESS

  • in 2009: 18%
  • in 2007: 3%

17. NEW YORK UNIVERSITY, STERN SCHOOL OF BUSINESS

  • in 2009: 18%
  • in 2008: 8%

18. VANDERBILT UNIVERSITY, OWEN GRADUATE SCHOOL OF MANAGEMENT

  • in 2009: 19%
  • in 2007: 13%

19. UNIVERSITY OF SOUTHERN CALIFORNIA, MARSHALL SCHOOL OF BUSINESS

  • in 2009: 19%
  • in 2007: 4%

20. UNIVERSITY OF NOTRE DAME, MENDOZA COLLEGE OF BUSINESS

  • in 2009: 19%
  • in 2007: 1%

21. UNIVERSITY OF WASHINGTON, FOSTER SCHOOL OF BUSINESS

  • in 2009: 19%
  • in 2007: 7%

22. UCLA, ANDERSON SCHOOL OF MANAGEMENT

  • in 2009: 20%
  • in 2007: 4%

23. UNIVERSITY OF PENNSYLVANIA, THE WHARTON SCHOOL

  • in 2009: 21%
  • in 2007: 3.9%

24. UNIVERSITY OF TEXAS AT AUSTIN, McCOMBS SCHOOL OF BUSINESS

  • in 2009: 21%
  • in 2007: 2%

25. DUKE UNIVERSITY, FUQUA SCHOOL OF BUSINESS

  • in 2009: 22%
  • in 2007: 9%

26. UNIVERSITY OF MICHIGAN, ROSS SCHOOL OF BUSINESS

  • in 2009: 22%
  • in 2007: 4%

27. CORNELL UNIVERSITY, JOHNSON SCHOOL OF MANAGEMENT

  • in 2009: 24.2%
  • in 2007: 3.9%

28. SOUTHERN METHODIST UNIVERSITY, COX SCHOOL OF BUSINESS

  • in 2009: 27%
  • in 2007: 10%

29. INDIANA UNIVERSITY, KELLEY SCHOOL OF BUSINESS

  • in 2009: 28%
  • in 2007: 3%

30. UNC AT CHAPEL HILL, KENAN-FLAGLER BUSINESS SCHOOL

  • in 2009: 29%
  • in 2007: 7%

Tough times, indeed.

Source: BusinessWeek

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comments

 
 
  • http://earningstudent.blogspot.com ice_hot

    hmmm. di naman masyadong malaki ang unemployment rate pala… paano kaya sa UP MBA? may data ka sir?
    .-= ice_hot´s latest blog ..How to Vote for Efren Penaflorida =-.

  • http://www.pinoymoneytalk.com/ James | PinoyMoneyTalk.com

    @ice_hot, if you go down the list you’ll see that the unemployment rate is staggering. At #22, for example, is UCLA with 20% of the batch not getting any job offers 3 months after graduation. That’s 20 students with no jobs out of 100. It’s a staggering increase from only 4% two years ago.

    The sad fact here is that these students shelled out hundreds of thousands of dollars to finish their MBA program. Some of them even availed of student loans. It will now take them a longer time before they can repay these loans.

    No data on UP or other MBA schools in the Philippines, but I’d expect a similarly higher unemployment trend. I know some people who recently graduated MBA in UP and Ateneo who, after 6 months, still have not found a job.

  • D

    did they try applying in walmart?

  • http://www.foreclosurephilippines.com Jay Castillo

    I suppose they should apply their MBA skills into building their own businesses. Unemployment could be a blessing in disguise if they make the most out of the time that they have at their disposal. I can’t help but feel that the hundreds of thousands of dollars spent to finish an MBA program could have been put to better use to finance a business or buy income producing investments, especially during a recession.
    .-= Jay Castillo´s latest blog ..Think Rich Pinoy Wealth Seminar on November 21, 2009: Your Passive Income Mentoring Starts Here! =-.

  • http://earningstudent.blogspot.com ice_hot

    @jay, i totally agree. the only problem i see is that these people have been trained to become employees. hence, chances are they will find starting their own businesses very risky…
    .-= ice_hot´s latest blog ..How to Vote for Efren Penaflorida =-.

  • http://www.millionaireacts.com Millionaire Acts

    Truly, the recession spares no one. But I think that it is also the time for these graduates to think some ways on how to earn using their skills (i.e. freelancing).
    .-= Millionaire Acts´s latest blog ..Steps for Debt Settlement =-.

  • http://technorati.com/blogs/directory/technology/gadgets/page-2/ BrianB

    There’s always AMWAY.

  • http://jonharules.blogspot.com jonharules

    Yay congrats James, you’ve got surpassed kidblogger’s PR! You’re second to a Blogger blog on making money online, way to go! Break things as Mark Zuckerberg always say. Break things, make stunning records.

    Super qualified MBA’s sure need to utilize their skills in creating their own businesses instead of getting employed, or waiting to be. Yeah we all need stepping stones but hey is opportunity ain’t knocking then why wait, just as a motto of uPenn: “We will find a way, or we will make one”. If you don’t see it, create it.
    .-= jonharules´s latest blog ..Still Blogging =-.

  • http://www.jal5aFrUDijal5aFrUDi.com/jal5aFrUDijal5aFrUDi Maricruz Ginty

    Is there an RSS feed with the entire articles or blog posts as a substitute of just the teasers?

  • http://www.jal5aFrUDijal5aFrUDi.com/jal5aFrUDijal5aFrUDi Bernie Mclanahan

    I really like youtube but it surely does have some bad things on it. Like with illegal material and things.