Sunday, May 9, 2010
China's a Bubble-3
"James Tsai is the sort of MBA corporate recruiters covet. He went to a good prep school, earned a degree with honors from Middlebury College, and made vice-president in Bank of America's international wealth management group at the age of 26. ... And now he's hustling to land his first post-MBA job--in China. ... Every era has its version of the MBA dream. ... Now, the emerging narrative is about steroidal Asia and its promise of growth. At premier institutions such as the University of Chicago's Booth School, the University of Pennsylvania's Wharton School, and Northwestern's Kellogg, the percentage of MBAs taking jobs in Asia--including US students like Tsai as well as international students--has more than doubled in the past five yars, from roughly 5% of the graduating class to more than 10%. ... And right now, Asia is where the career velocity and opportunity are. 'This has never really happened before, except in little spurts, where you have a fairly large group of talented, recent MBAs asking for assignments in China, Vietnam, India,' says Jeff Joerres, CEO of global staffing firm Manpower. ... On Facebook, Twitter, and Skype, MBAs swap stories about the adrenaline rush of working in an emerging market and the joys of geographic arbitrage. ... The University of Chicago's Booth School is seeing so much interest from Chinese companies that it recently opened a career services office in Hong Kong. ... How much longer can the Asian allure hold?," my emphasis, Michelle Conlin at Businessweek, 22 March 2010, link: http://www.businessweek.com/magazine/content/10_12/b4171086653619.htm.
This is 2010's Havard MBA indicator. China's a bubble.