| This Week's Top Story |  | | With big banks slashing head count and pay, two MBA programs with reputations as talent pipelines to Wall Street are reporting double-digit declines in applications | | More Top Stories | | | When it comes to doling out generous financial aid packages, all top business schools are not created equal | | | UCLA's Anderson School wanted to forgo state funding and go it alone, but the UC system had other ideas | | | More MBAs are pursuing a third career path: launching a fund, raising capital, and acquiring an existing company | | | Clark Atlanta University is offering an MBA course focusing on Michael Jackson's billion-dollar entertainment empire | | | Retirement isn't something MBA students give much thought to. But for inspiration they might consider ex-CEO Bill George's late-in-life reinvention as an author and academic | | | Networking is how you get a foot in the door. Be charming, be considerate, but most of all, be persistent | | | GMAT remainder questions can seem devilishly difficult, but a simple strategy can help test takers answer them accurately and quickly | | | Finding A Job Even with her business growing rapidly, this Harvard MBA entrepreneur has not lost touch with her alma mater | | | With a lack of work experience due to raising a child, is getting an MBA an option? Find out in this Business School Forums discussion | | | Why student newspapers are a rarity at B-school, interest wanes in Asian MBA programs, and women in B-school score low on ethics tests | | | MBA Programs New research suggests the middle class bears a bigger student debt burden than the poor, a desire for social status makes people cocky, and Spain may be in for a world of economic hurt | | | UCLA's Anderson School of Management offers highly ranked MBA programs with something most other business schools can't offer: the Southern California sun | | | Connect with fellow students and recent alumni of the MBA program you're about to start, and start networking before you arrive on campus | | | Check out our video blog for tips and expert advice on choosing the right B-school and making the most of your time there | | | This newsletter is a FREE service provided by BusinessWeek.com. To sign up for other newsletters, cancel delivery, change delivery options or change your e-mail address, please go to our Newsletter Preferences page. If you need other assistance, please contact Customer Service or contact: Dustine Peterson
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To learn more about how BusinessWeek.com applies this policy, you can contact our Marketing Department. | | This week in MBA Express | | Dear Reader: When Wall Street is booming, so too are MBA programs like those at Columbia and New York University that send busloads of graduates off to the financial district after graduation. But when Wall Street is hurting, look out. As we reported this week, both New York schools have had double-digit declines in MBA applications this year, even as schools less exposed to the fluctuations of finance have weathered the storm with virtually no change at all. What's it all mean? Well, rule number one is that much (perhaps most) of the value of an MBA is tied up in the job that awaits you at the end. If the job suddenly becomes less lucrative, or less of a sure thing, the MBA's value takes a hit, and the market responds. Rule number two, as Henry Blake from M*A*S*H once memorably said in a much grimmer context, you can't change rule number one. What that means for B-school programs is diversify, diversify, diversify. Don't send all your graduates off to banking jobs; send them to marketing and HR jobs, companies that make consumer staples, big companies and small, employers that hire in good times and bad. Those jobs may not be as lucrative for graduates, individually they may not hire as many MBAs, and they may suffer cyclical downswings of their own. But none of them is a ticking time bomb, either. Louis Lavelle, Business Schools Editor, Bloomberg Businessweek | | Louis Lavelle |  | | Advertisement  | Business School Resources | Advertisement  | |
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