Word: mbas
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...Jersey-based financial consultant Ray Soifer has studied the career choices of Harvard Business School graduates for two decades, and he’s found that when the fraction of MBAs going straight into securities industry jobs tops 30 percent, the stock market plummets...
...figures don’t necessarily reflect poorly on Harvard grads’ managerial decisions, Soifer said. Rather, the securities industry attracts more top-notch MBAs when I-Banking is booming and starting salaries are high, so grads often jump on the tail end of a bull market...
Gross—who in addition to his undergrad degree from Cornell, also holds a master’s in history from Harvard—wrote in an e-mail that he does “not believe that the mere presence of Harvard MBAs in entry-level (or senior-level, for that matter) positions on Wall Street is bad for markets...
...said that Soifer’s patterns stem from the fact that Harvard grads’ career decisions reflect broader market dynamics. “MBAs are like very well-paid sheep,” Gross said. “They move in herds...
...three years ago in the bad market environment, I gather through the grapevine that 20 percent of Harvard MBAs were not getting jobs,” Soifer said, so the career data for those years may be inaccurate...