Editorial
Careers
Technology (MIT), “Obama’s commitment to create a challenging climate for business schools. student loans. According to Dean Phan of Johns
lessen the US dependence on fossil fuel, and At the Kellogg School of Management at Hopkins, “if job prospects continue to be poor,
MIT’s alternative energy initiatives, are good Northwestern University, “corporate recruitment enrolments will drop as people consider the
examples of a potential partnership forged from is happening, but it’s much more conservative costs. As large corporations cut back on expenses,
a common vision.” than it has been,” said Roxanne Hori, director of things like tuition reimbursement will get put on
career management. And while she has not yet the table.”
The economy trumps all seen companies rescind offers, she anticipates All of the top university administrators
Most onlookers agree that the economic that some will. At the Sloan School of hope that the Obama administration will
downturn is going to be Obama’s biggest Management, “a few companies are delaying or include an economic stimulus bill that will
challenge in the short term, despite his attitude cancelling visits, and some that had planned to include money for research, campus
to visas or internationalization. Jim Olver says: hire second-year students now say they have infrastructure and student aid. Dean Paul
“The crisis seems sure to dominate [Obama’s] filled their slots with summer interns,” according Danos of the Tuck School of Business at
agenda, and it will likely increase competition to Jacqueline Wilbur, director of the career Dartmouth sees the need for global monetary
for US MBA admissions slots, as a large and development office. authorities “to come together to create a safe,
growing pool of skilled but displaced managers To help finance his education priorities, predictable and steady regulatory system in
take the opportunity to re-tool while waiting for President Obama supports cutting banks out of order to build back confidence in the world’s
a better economy. If that assessment is correct, the student loan system, thereby eliminating financial institutions.”
the next couple of years could present challenges billions of dollars in government subsidies to On election night, Obama acknowledged
for internationals looking for a US MBA and private lenders. “It’s really important that we that he faces a daunting set of problems: “two
subsequent US-based employment.” revamp our college loan programs to free up wars, a planet in peril, and the worst financial
In the four weeks since the presidential more money for students. If we consolidate crisis in a century.” Washington, 20th January
election, the US unemployment rate has risen programs under the direct-loan program, we 2009, was an extraordinary inauguration day,
to 6.5 per cent, with estimates that it will rise to would save $4.5 billion,” he says. At Northeastern and marked the start of Obama’s efforts to
nine per cent by the end of 2009. The shrinking University, Dean Moore reports that an meet these unprecedented challenges. The
job market, the squelching of credit by banks and unpredictable number of students will be forced expectations of the MBA community are great,
a plunge in consumer spending, all conspire to to leave school because they cannot secure and stakes for the world couldn’t be higher.
30 TopMBA CAreer Guide www.topmba.com

TopMBA CAreer Guide www.topmba.com 31
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