| Topic Name: |
What to do if job posting says "NO CALLS" |
| Message Name: |
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| Date Posted: |
10/29/2001 |
| In Reply To: |
Those benefiting from a myth choose to perpetuate it.
What was your under grad background. If it was business, wasn??t the course work similar (factoring in changes to an ever volatile business environment in terms of trends and markets and advances in technology, tactics and strategy that would result in greater curriculum changes the longer the interval between undergrad and MBA. And how well read were you before your MBA. And what did you do in your previous securities industry job that you really needed an academic setting to learn how a future works. I suspect that you worked in a boiler room retail setting.
In a very condescending manor, you want to make the simple concept of beta of equity seem like rocket science and a relevant analogy to our debate concerning real MBA value, but its neither. A stock with high beta numbers significantly outperforms the S & P. You assume that an MBA grad out performs.
A better analogy would be a company with a large advertising /marketing budget. If the creative execution accomplishes the marketing objectives and the media selected targets the right audience in adequate quantities, while the other marketing mix components are accomplishing what they are supposed to do, then the money spent is of value. But if the creative is off the mark and the wrong audience is targeted, then its worthless.
An MBA at best is that budget.
Your comments about Merrill and Goldman are comparing apples and oranges. Merrill will hire almost anyone as a retail broker/fp, but generally requires1 MBAs for the institutional side. And yes, retail brokers earn a lot less money than institutional people or investment bankers. But MBAs in these situations are earning more money because they were hired for better jobs not because they necessarily know more, although I must admit that many retail brokers are probably not bright enough for more sophisticated securities industry jobs (w/wo an MBA).
As for the merits of using cookie cutter profiles as a screening tool, you say it prevents the hiring of bad candidates. I say it prevents the hiring of better candidates and assures people who have been lucky enough to have had a perfect career path that they continue to do so while encouraging them to be mediocre because no one evaluating has a clue other than cookie cutter credentials, while screening out people with potentially greater knowledge levels than HR pinheads can glean from a resume they lack the knowledge to understand.
As for your nest posting, I guess you received your MBA from Princeton. Tell me about your course work other than the basic general MBA core.
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| Message: |
"A stock with high beta numbers significantly outperforms the S & P."
Not necessarily. It only does so in an up market. See, an MBA really does pay off (he-he).
Anyway, I don't think that an MBA is a be all, end all type of thing. It is possible to do great work without one. Someone who was really as good as you say would probably go out and start their own business and make REAL money.
You try to make it seem that an MBA is worthless and that is not the case either. The problem with learning on the job is that you often get compartamentalized. The MBA gives you broad exposure to many subjects that you may not have recevied (or at least not very much) otherwise.
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