While job searching online, I noticed lately that there has been a surge of low pay or unpaid internship offerings. When I read the descriptions, the employers are often asking for qualifications that an educated professional with years of experience would have. REALLY, when was the last time you saw job postings offering $15/hr internships and listing an MBA degree as a preferred qualification?? I also would not be surprised if those employers actually receive an abundance of highly qualified MBA candidates who are haunted by their imminent student loan repayment.
Has this job market become so dreadful that companies are able to use and abuse those of us who devoted 2 years and $100k+ to make a career change? And they do so with such pride and joy. It irks me to see my classmates apply for these low-pay contractor positions/internships, and preparing for these interviews as if they have a final round with BCG. The credible sources say the long-term ROI of an MBA is still very positive, but in this economic meltdown, how long is long-term?
In a buyer’s market, I can understand why employers have the power to call all the shots, although from a strategic standpoint, I am completely baffled. If I had the fortune to own a growing company in a recession, I would tap into the best talent, the kind of talent that I would not have been able to reach in a healthy economy, and groom them into the leaders who will help weather the storms. Not every MBA is looking to jump ship to a fortune 500 company if you keep them happy, and that goes for any competent employee. If I need an administrative assistant, I hire one who did and WANTS to do admin work. If I need an intern, I hire undergraduate interns who need the experience to get their foot in the door.
For you hiring managers out there with the postings: You get what you pay for. If you pay $15/hr for an MBA, only 15% of their heart will be there. The economy will not be crappy forever. Once all the underpaid but educated, talented but disgruntled interns/assistants/contractors that you took advantage of are gone, who is left to be the buttress of your business?
Source: Canadian Marketing Blog
I know its frustrating – but in times like these, I think everyone makes concessions, you know? And when companies suffer, they have to max out what they can get with their money, so who wouldn’t want a $15 MBA? I guess your bitterness is getting to you
But don’t let it drive you crazy. It’s not all bad out there. It’s just temporary! How well you ride out these setbacks will help you in the long run… Okay I’ll stop preaching 
update already!