The Millennial Generation’s Rush to Get an MBA
By Ron Alsop
February 2010
GMAC Deans Digest
After graduating from Stanford University, Tim Jones didn’t want to waste three or four years “doing grunt work and trying to prove myself.” He felt that he had spent enough time preparing reports and PowerPoint slides during summer internships without ever getting the chance to sit in on the presentations to senior management. So last year, he jumped right from Stanford into the MBA program at Washington University in St. Louis. “The MBA will give me a competitive advantage over people of similar age,” says Jones, who is concentrating on finance and accounting. “I will be ready to make important decisions and advance faster; my employer will trust me more with an MBA.”
MBA programs that admit recent college graduates seem tailor made for the impatient, highly confident members of the millennial generation who hope to bypass routine entry-level jobs and start higher up in the ranks. “My friends and I want to have impact and do meaningful work as soon as we land at a company,” explains Anton Doss, who headed straight from Hampton University to Carnegie Mellon University’s MBA program. After graduation, he expects to join Bank of America’s leadership development program.
Young MBA Students Face Skepticism
By Ron Alsop
April 2010
GMAC Deans Digest
As more MBA programs admit talented but inexperienced millennial generation students, the trend is stirring up concerns. Will their limited workplace exposure prove detrimental in the classroom? Have they formulated a clear career strategy, or do these impatient millennials just crave Master of Business Administration credentials to escape entry-level jobs? And how will they compete with more seasoned students in this weak job market?
Opinions are mixed, but there is clearly skepticism about MBA candidates younger than 24, the fastest-growing age group taking the Graduate Management Admission Test. Some older students consider them entitled neophytes along for the ride rather than equal partners on the team. Although they may have benefited from internships and college leadership positions, they often lack the rich professional backgrounds that enhance a class discussion or project.