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Bank of America withdraws Job Offers to foreign M.B.A. Students

March 10th, 2009 · 1 Comment

Bank of America has become the first U.S. bank to withdraw job offers made to foreign M.B.A. students graduating from U.S. business schools this summer.

I wouldn’t be surprised that other banks and companies will follow Bank of America’s lead. This could trigger a series of chain reactions:

  1. Leading U.S. business schools have been recruiting international students aggressively over the years. Will business school’s enrollment of foreign students drop significantly?
  2. If U.S. companies are not hiring foreigners, will foreign countries take similar measures to ban American workers?
  3. The single most important measurement of success for any top business school is recruiting. Business Schools are also the top feeders for top companies. I’m wondering how the dynamics between business schools and employers will play out in the next few years.
  4. The number of American students who apply and attend European business schools have been growing in the past years. Will this trend be reversed?
  5. It’s much harder for foreign students to gain admission to top U.S. business school. As a result, the caliber of foreign students we see in U.S. business school are truly outstanding. Returning to their home country will certainly benefit their home countries’ businesses and economy. Can U.S companies really afford to lose these talents?

Tags: MBA

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