Keeping the Street within reach - Baltimore Business Journal:

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Even before Chairman Ben Bernankeuttered "a recessionb is possible" to Congress on Apriol 2, financial experts had been predicting as much for nearlu two years. The combination of a troubledchousing sector, the credit crunchu and the near collapse of gianr investment bank has created a jitteryy marketplace. "If the past is any it suggests that it will be rather difficulty to get jobs on Wall Street for the next 16 to 18 saidRobert Bruner, dean of the at the . "Panicas are a phase of an economix contraction." Indeed, even now the globall economy is still creating a significant demand for MBAsand master'sz in a range of fields.
, a job-hunting site for recenyt graduates, said top employers are increasinggtheir master's-level hiring by 22 percent in 2008, and MBAs remaij a fairly consistent chunk of that In a 2007 report on trends in MBA recruiting, MBAFocusx LLC, a consulting company, suggestes a talent shortage is being created by a shrinking work increasing demand for highly skilled workers and globalization. students with their heartsx set on Wall Street in the next two yearsw may need to consider analternate route. "Thaf might mean that they take jobs in relatedx fields or that they take any job they can get in investmentr banking and try to bootstrap their way Bruner said.
When the economy snaps back, thoses hires will be in a good positiob toadvance quickly, he said. The thousandsz of layoffs predicted for Wall Streett might provide unique opportunities fornew MBAs. "Whe n Wall Street firms lay off people, they ofte n try to save money by layinhg off relatively highlypaid employees, then get cheapefr employees with less experience to take over the functions that the expensivs departing employees used to said Albert "Pete" a finance professor at the 's . "Thias means the good opportunities may open up for those who get positionsd or do not getlaid off.
" Even as the number of MBA positionds in certain fields decreases during bad economic times, the numbeer of people seeking them often That's because in a downturn many people go aftetr an advanced degree, if they can afforfd it, hoping the degree will help them in the job Career counselors say enrollment is up or steady at area Brian Dolan, a 30-year-old MBA candidate at 'sw graduating this spring and going to work for in New York, put it this way: "Whereasw maybe there were 10 peoplde chasing a position when the market is now you have Landon Jones, who graduated from the 'sw MBA program May 21, landed a financee position and a slot in the professional developmeny program with the defense giant's electronic systems business unit in The 26-year-old Mount Vernon resident entered the MBA prograjm full time in 2006 after working for two years with an Annapolixs building supply firm.
Jones decided to lay the groundworok for his job search early on in his studiees after seeing the 2007 subprime mortgags collapse begin to drag down the He cultivatedprofessional contacts, sought out networkinf opportunities and gathered market intelligence from friends, who told him of scaled-bacok hiring plans at their companies. "I knew it was goinbg to be extremely competitive," Jones added. "I tried to be myself, and be as assertive as possible." For MBAs graduating in the next coupleeof years, a Plan B, C or D is a good said Jennifer Kinder, associate director of employer development in the officse of career management at the Smith School.