Tuesday, October 14, 2014

Business education: Banks? No, thanks!

http://www.economist.com/news/business/21623673-graduates-worlds-leading-business-schools-investment-banking-out-and-consulting

the world's leading business schools

investment banking

consulting and technology firms

a breed apart = a sort or kind or person that is very different from the norm

a master race of dealmakers

He possessed vast, almost unimaginable talent and ambitions.

most talented graduates

a situation still held true as the financial crisis struck in 2007.

land a job in finance

a meagre %5

elite business schools

take a low share

have culled the recruitment schemes

hired swathes of associates straight from business schools

recruiting the brightest undergraduates

, in the belief that ...

is more productive and better value

to develop cohorts of junior analysis in-house

rather than those with fixed ideas honed on expensive MBA programmes.

enthusiasm

Once, they wanted nothing more than to climb a bank's greasy polew,
with the vast riches this promised.

regulation has stunted bankers' bonuses

MBAs increasingly seek the flexibility to switch careers within a few years.

expect long-term loyalty

do a spell in banking

, whereas students see them as "a stepping stone into private equity or a hedge fund".

there has been a revival in business-school graduates' interest in working as consultants.

the number has risen from ... to ... over the same period.

be in vogue

the newly minted MBA

It attracts the strongest candidates and it gives the firms a high-powered network of alumni who may become future clients.

the exposure to different industries

the access to senior managers

a perfect base

offer the financial rewards

breadheads

higher pay was their most important consideration

to open new career opportunities

personal development

sceptics

reckon

forgone salary

Another big beneficiary of MBAs' loss of interest in banking is the technology industry.

The proportion of ... landing jobs at technology firms has risen from ... since. 

Many students want to be part of an entrepreneurial environment and make an impact, to feel they are building and shaping something.

the growing number of students

sth. appeals to sb.

gain the right experience to start their own business

non-bank financial-services sector

Five years ago it was rare for such places to recruit MBAs straight from campuses. Instead they would often poach talent from the banks.

to build formal recruiting ties with such firms.

a PE or venture-capital firm

Students from other backgrounds are also attracted by the dynamic atmosphere these outfits offer.

PE appealed to him and his peers over banking because the firms are smaller and the work more entrepreneurial and hands-on.

self-fulfillment is indeed the priority of

to do some serious rebranding.

the corporate culture

Added to this, ...

a sense of moral purpose

to build careers that have a positive impact on the world around them, such as running ethical-investment funds or corporate-social-responsibility programmes.

running campaigns

urge sb. to do sth.

believe media stories portraying them as greedy or evil.

to lure recruits

you can help make the world a better place/ you can make a difference in the world.

take a tougher line on sexual harassment of female staff (=take a hard/firm line on/against sb/sth)
采取强硬路线

advocate a healthier work-life balance

allow the odd work-free Saturday

For the business schools' brightest and best, though, all this may not be enough.

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