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American Morning

MBA Outlook

Aired May 05, 2003 - 06:45   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. Business schools are about to disgorge a bunch of graduates. But are business degrees losing their luster?
I hear you laughing -- Susan Lisovicz.

SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: What an image.

COSTELLO: I know, disgorging graduates.

LISOVICZ: Disgorge. Well remember the days, Carol, when an MBA was a guarantee of a great job or a job?

COSTELLO: Yes.

LISOVICZ: Well according to a new Duke University survey, only 60 percent of this spring's graduates have lined up a job by mid- March. That's down from more than 80 percent in previous years. This survey also found that starting salaries for graduates have remained fairly flat at about $88,000.

And one of the most telling things, Carol, is that less than 5 percent of people graduating from business schools this year are looking for jobs with Internet companies. That is down from 25 percent just three years ago. What a sign of the times.

COSTELLO: Boy, you're not kidding.

Quick look at the futures.

LISOVICZ: Higher open, which is great, because we had a terrific rally on Friday. Speaking of jobs, despite that disappointing employment report on Friday where the unemployment rate went up to 6 percent, still the Dow gained 1.5 percent, adding 3.5 percent for the week. The Nasdaq rallied 2 percent on Friday and more than 4.5 for the week. Some folks saying this is a new bull market.

No major economic reports out this week. All eyes on Washington, the Federal Reserve meets tomorrow to decide on interest rates. Expected to be unchanged. Keep an eye on shares of Oxford Health today, Carol, the company just reported results saying net profits up slightly.

Back to you.

COSTELLO: Well we'll keep our eye peeled, both eyes peeled, as a matter of fact. Thank you, Susan, many thanks.

LISOVICZ: Sure.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM AT www.fdch.com






Aired May 5, 2003 - 06:45   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. Business schools are about to disgorge a bunch of graduates. But are business degrees losing their luster?
I hear you laughing -- Susan Lisovicz.

SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: What an image.

COSTELLO: I know, disgorging graduates.

LISOVICZ: Disgorge. Well remember the days, Carol, when an MBA was a guarantee of a great job or a job?

COSTELLO: Yes.

LISOVICZ: Well according to a new Duke University survey, only 60 percent of this spring's graduates have lined up a job by mid- March. That's down from more than 80 percent in previous years. This survey also found that starting salaries for graduates have remained fairly flat at about $88,000.

And one of the most telling things, Carol, is that less than 5 percent of people graduating from business schools this year are looking for jobs with Internet companies. That is down from 25 percent just three years ago. What a sign of the times.

COSTELLO: Boy, you're not kidding.

Quick look at the futures.

LISOVICZ: Higher open, which is great, because we had a terrific rally on Friday. Speaking of jobs, despite that disappointing employment report on Friday where the unemployment rate went up to 6 percent, still the Dow gained 1.5 percent, adding 3.5 percent for the week. The Nasdaq rallied 2 percent on Friday and more than 4.5 for the week. Some folks saying this is a new bull market.

No major economic reports out this week. All eyes on Washington, the Federal Reserve meets tomorrow to decide on interest rates. Expected to be unchanged. Keep an eye on shares of Oxford Health today, Carol, the company just reported results saying net profits up slightly.

Back to you.

COSTELLO: Well we'll keep our eye peeled, both eyes peeled, as a matter of fact. Thank you, Susan, many thanks.

LISOVICZ: Sure.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM AT www.fdch.com