Harvard’s declining endowment funds – shows that most investment bankers are grossly overpaid, just because they handle the money, they get very high salaries and bonuses. Few have the judgement or foresight to take the correct decisions. A comment is even more interesting (the best part of Rediff are the comments)
The worst fall-out of last few years frenzy was, making money out of thin air became an addiction. A wasted generation of brilliant minds led away from hard-core engineering. Any proposal to raise money from the public was padded up to make it a dream.
95% of the best engineers who graduated in the last two decades did not do engineering – they either worked in software companies or did an MBA and became “financial experts” . That is the real tragedy, working as a engineer teaches you to be practical and you design for the long term. Something you design for a refinery or a power plant will be in operation for at least two or three decades, with very little downtime, you cannot afford to make mistakes.
MBAs , especially in the financial sector are about dress code and slick talk to gullible investors. Unfortunately, due to media hype, students still want to waste 2 years of their life doing an MBA. If you value your money, listen to all investment “experts” , but take your own decisions.