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My MBA: A Banker's Gamble Gone Bust. Bad Luck.

Sully
Tuesday 07 April 2009 19:32 GMT

Let me know if this sound's like your situation. You worked at a place for a few years. It's an OK job but not very stimulating. You decide to go to business school but you don't have enough money. You continue working at that job for another year so you can save enough to pay for part of the tuition. You get accepted to business school and you are so glad. Now you can get on track to the career you want.

You go to all the career fairs and networking sessions. People like your experience but they are not hiring. You go to more sessions and more of the same thing. You graduate but with no job. You apply for jobs and go on interviews. Employers tell you that 50 people applied to the same job. A month later it's 100. Employers then tell you that you're competing with people who've just been laid off. Now that time you spent in b-school means that you've been out of market for a year or so. Your experience and knowledge is out of date, some employers say.

You've been careful your whole life. You worked hard, saved money. You decide that money spent on an education is an investment in your future. So you go back to get a graduate degree. Then the worst financial crisis since the depression happens. Your "investment" in the future turns out to be a huge gamble that went bust.

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