[hnsummary]

Article summary:

Because it’s where the money is (supposedly). Each era of MBA graduates have their defining characteristics. The ’80s conquered Wall St, the late ’90s conquered Silicon Valley, and now they’re off to dominate Asia. MBA graduates taking jobs in Asia has doubled in the last 5 years, growing from 5% to more than 10%, and it’s the promise of rapid growth which is drawing them there. Experts say the percentage of graduates taking international jobs typically increases during a recession, however the number of graduates now asking for assignments in China, Vietnam, and India right now is unprecedented.

The geographic arbitrage is paying off well for these MBA grads, allowing them partake in the upper-crust Manhattan type lifestyle of having food delivered to them daily, maids clean up after them, and skipping around to different Asian cities, all for the cost of living in the cheapest of cities in the US.

Chinese firms didn’t used to recruit talent from United States universities, but that is starting to change. Large Chinese firms are showing up at recruiting events at America’s top business universities in increasing numbers.

http://hnsummary.com/2010/03/29/why-mbas-are-going-east/

[jhancock]

The job candidates and recruiters may be leaning in the direction of Asia. The experience once they get there may be underwhelming. I know many young investment bankers in Shanghai that have lost their high paying jobs in the last year with no outlook for improvement. The major finance hubs in Asia are anything but cheap for comfortable Western standard living.