impact of financial crisis on the job market - The Orange Room

LebanonNation

hi

I constantly hear news that companies are laying out employees in the world (recently in the gulf)

I am planning to start an mba in 2009 and i am worried that it can be a foolish idea to interrupt work and start studies. Others say that this crisis should end in 2010.

what do you think?

thx

aboulzouz

Quote:

Originally Posted by LebanonNation

hi

I constantly hear news that companies are laying out employees in the world (recently in the gulf)

I am planning to start an mba in 2009 and i am worried that it can be a foolish idea to interrupt work and start studies. Others say that this crisis should end in 2010.

what do you think?

thx

MBA is cool but hope that you will not administer businesses as these fool
were doing for the last decades.

In Europe, more precisely France, people are starting to look for jobs
in the public administration (i.e mwazzaf dawle).
The idea is that this is the only stable job they can get now even if they are
paid half of what they can get in private entreprise.

The crisis is far from getting close to an end ! Don't leave your job try to do
an mba (even though i am not a fan) in parallel.

cheers

Souss

Quote:

Originally Posted by LebanonNation

hi

I constantly hear news that companies are laying out employees in the world (recently in the gulf)

I am planning to start an mba in 2009 and i am worried that it can be a foolish idea to interrupt work and start studies. Others say that this crisis should end in 2010.

what do you think?

thx

The MBA is a long-term investment. You have to look at it over a 30-year time period, not just whether it will benefit you immediately after you graduate. Will it help you in your overall career path?

IMO, if it makes sense for you in the long-term, 2009 is the right time to go for it. Here's why:

You know that 2009 is going to be a tough year, and there are good chances it will be the same for 2010 (at least the beginning of it). You will come out in 2011 after the economic recovery, ready to reap the benefits of an expanding job market.
If the crisis continues longer than that, then remember that the longer it goes, the less your current job is safe. So if the crisis is deeper and longer than expected, you will be shielded from losing your current job because you will be studying. If you don't go for the MBA and then lose your current job, you will regret not having done it.
Also, the MBA provides you some flexibility in terms of career orientation. Maybe you now work for the financial industry, and decide to go for an MBA. If halfway through you see that the Financial sector is not going to recover, you can (through proper course choice), specialize in another field that has better job prospects (consulting, for example) and position yourself to work there upon graduation. If you stay in your current job and the industry you're working in right now tanks, you will be sorry you didn't go for the MBA.

If you ever decide to do it, remember that it's a lot of work just applying. It's a large and important investment, and you should do your homework on which programs are suitable for you.

Again, this works if an MBA makes sense for your career path and objectives. But definitely the opportunity cost right now is low compared to previous years.

Hope this helps,

Ana

There are plenty of jobs, just not in financial institutions.... think about this as the regular business cycle... there are plenty of jobs in administration, cost management, corporate finance, auditing and accounting....

2 things to expect.... you won't get a very high salary offer and the time to get an offer will be much longer

Frisbeetarian

How bad can US unemployment get?

A record 651,000 jobs were cut from the US workforce in February, the highest figure since December 1983. How is the US downturn affecting you?

The figures are up from 598,000 in January. It is the biggest monthly rise in unemployment since October 1949, although the workforce has grown significantly since then.

Meanwhile, the economic crisis could increase the number of unemployed women by up to 22 million this year, the International Labour Organisation (ILO) says.

Source: BBC NEWS | Have Your Say | How bad can US unemployment get?

Venom

The crisis is spreading everywhere....it is the Armageddon of the 21th century ... All Sectors are affected.....2009 is going to be a very tough year..

Frisbeetarian

Dont u guyz find the realization that everything is about to collapse enthralling!

SISCO

Quote:

Originally Posted by LebanonNation

hi

I constantly hear news that companies are laying out employees in the world (recently in the gulf)

I am planning to start an mba in 2009 and i am worried that it can be a foolish idea to interrupt work and start studies. Others say that this crisis should end in 2010.

what do you think?

thx

I think an MBA is not a good choice now !! IF you do it in 2009, you will graduate during the financial crisis and you will not profit from your MBA degree.

I was asking INSEAD graduates about finding work in the actual crisis. Their repsonse was that it was "too hot" to find a job.

I think doing an MBA in 2010 will be better because the economy will start to boost.

I was intending to start an MBA now but i changed my mind to a part time MBA that i 'll try to finish in the end of 2010

Good luck anyway,

regards,

Libnene Qu7

Lack of jobs now mean that it's time to do things you couldn't have done previously. Doing and MBA or any kind of post-graduate studies is perfect. After 1 or 2 years you will graduate into a recovered economy.

Delilah

Quote:

Originally Posted by Libnene Qu7

Lack of jobs now mean that it's time to do things you couldn't have done previously. Doing and MBA or any kind of post-graduate studies is perfect. After 1 or 2 years you will graduate into a recovered economy.

You are very lucky! And you do it obviously the right way. I would suggest everyone that I just done with studding to do advanced studies or to go for international internships - It is currently very hard to find a good job offer, i even looked for executive job agencies but it is still very hard.