- last week, I get a recruiting email from Citi. Over the course of the next few days, they withdraw ALL future funding for MIT students past 2009. This had two immediate effects:
- I deleted that email.
- The ability of future non-US MIT applicants to finance their higher education fell into jeopardy.
These students usually attempt to stay and work within the United States after graduation, to our benefit. A financial crisis that affects foreign students has a direct affect on the ability of this country's economy to function. And I think that we're in enough trouble already.
Watch this space to see if I am able to get any more information on how MIT can help foreign students.
- Everyone is taking a VERY close look at those offers. Banking, which used to be a direct and stable path to wealth, is being given special scrutiny. Why work your butt off and make your life a living h8ll if it means you'll be out of a job in a year, and unemployed for god-knows-how-long?
Many students are angling for positions in Europe because of the perceived strength of the currency. Personally, I think this is a sound strategy (and I love Europe). I also like the American south. As the state with the most Fortune 500 companies in the nation and a healthy energy sector, Texas seems like a big winner, and a lot of people are aiming for Dallas or Altanta offices.
My take:
Places like Microsoft and Apple and a few CPG or food firms which are cash-rich should come out the big talent winners for at least the next 2 years, as we start to see the job equivalent of a "flight to quality."
Ultimately, it means that these companies are most likely to ensure continued success in the long-term because their management pipeline will be filled with the best and brightest. Banking is probably screwed for the next decade or so.
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