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Boston ITer
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 Posted: Mon Apr 13, 2009 1:01 pm GMT Post subject: Harvard/Finance: A moral outrage which is over a decade old |
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http://www.nytimes.com/2009/04/12/opinion/12rich.html
| Quote: | | In the bubble decade, making money as an end in itself boomed as a calling among students at elite universities like Harvard, siphoning off gifted undergraduates who might otherwise have been scientists, teachers, doctors, entrepreneurs, artists or inventors. The Harvard Crimson reported that in the class of 2007, 58 percent of the men and 43 percent of the women entering the work force took jobs in the finance and consulting industries. The figures were similar everywhere, from Duke to the University of Pennsylvania. Dan Rather, on his HDNet television program in December, reported that at Penn this was even true of “over half the students who graduated with engineering degrees — not a field commonly associated with Wall Street.” |
I'm beginning to tire of articles like the above. For one, there's no shortage of applicants to medical schools because most doctors are guaranteed a well paying job. So there's no need to lump doctors into the pool with artists, teachers, and entrepreneurs. Take away the AMA, import non-USA/Canadian residency MDs, and very soon, there will be a real shortage of applicants to medical school but until then, let's get the story straight.
And at the same time, they're acting as if the rise of ivy league graduates: working in finance, management consulting, or big law is a so-called new economy phenomena when it's been the mantra for well over two decades. In fact, I recall even in 1985, when the Columbia University dean announced that 25% of its graduating class was law school bound. Likewise, in Boston, Brandeis would often travel to various magnet high schools telling everyone how ~100% of their graduates got into one of their top 5-7 choices of law programs. I presumed they helped in guiding the application pool so that not everyone tried for NYU, Yale, Georgetown, or Chicago at the same time since that would ruin the "100%" figure. Likewise, there was also a lot of hand waving about Hopkins premed being the best of the best, not whether or not their biomedical or biochem engineers could actually find any real work outside of the academy.
All and all, when the crisis subsides, people will be enamored with ivies again but at the same time, perhaps not opt for them w/o being from a deep pockets family. The age of borrowing big for college will be coming to an end. |
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Guest
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| Posted: Mon Apr 13, 2009 8:33 pm GMT Post subject: |
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| Quote: | | lot of hand waving about Hopkins premed |
http://web.jhu.edu/post_bac
They're quoting 100% placement into medical school so it's not a stretch. And the bottom of a medical school class is still a doctor and can still earn a low six figure income, as a country doctor in the Dakotas. The bottom of a physics or engineering program is unmarketable, even in technical sales or marketing. |
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Boston ITer
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| Posted: Tue Apr 14, 2009 2:02 pm GMT Post subject: |
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| I guess if one's going to study at Hopkins, one might as well become a doctor, instead of a leading biomedical engineering researcher, since that's essentially its value added proposition. In a sense, it's like an ivory tower with an exit strategy... 'here, here's your MD, now go make a living'. |
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