This is a very informative book for aspiring MBAs-A chronicle of life during the first year at Stanford Business School. Peter is a ‘Poet’, and like some of his batch-mates, is uninitiated into the complex world of number crunching and usage of dense formulas. As a result he has to enroll for a pre-MBA Math course, and here begins the journey through the Hell that is MBA.
Peter was previously employed at the Whitehouse as a speechwriter for Bush (VP at the time) and then Reagan. Completely out of depth at Stanford, he has to come to terms with a punishing schedule, working till late at night, completing assignments and preparing for lectures. He has also come to Stanford with the noble purpose of learning for the sake of knowledge, but finds himself increasingly swept towards exam-oriented studies.
The book also gives us insight into the workings of Ivy League institutes. We identify with the misgivings and apprehensions shared by students on the heavy investment they have made in terms of their finances as well as 2 years of their lives in favour of their careers. Though they are students at one of the top business schools in the US, will they survive the ordeal of the course to get lucrative offers from the high-paying corporate firms, or will they find that they have made a terrible mistake by joining this school?
The personal lives of the students are affected, and frequent mood-swings and irritation are common at the beginning. Grades are all-important and the fact that few of the lecturers are young, inexperienced PhDs (some of them with strange foreign accents) makes matters worse. Complaints about instructors fly from the tense students as exams approach. The management appears apathetic, increasing the students’ frustration. All of this would ring true at any institute.
The Institute has problems of its own. Being on the West Coast, far away from the corporate hub in the East, there is a constant migration of talent. Why would anyone want to stay in the West coast when they can earn much higher remuneration if they migrate towards Wall Street and fulfill dreams of making it big? As a result the institute has to pick up promising PhD students and train them in the art of teaching. A slow process. Things reach an abysmal level when Stanford ratings fall to a low of ninth place, from second.
Peter also delves into the emotional insecurities of female students. Though they would not freely admit it in public, they are uncertain about how to balance career and family life, about finding partners who are not intimidated by their degree and so on.
Yet life goes on, and Peter and his batch of 333 students somehow manage to plough their way through the course, and towards the end of the first year, their courses become less demanding. This allows them to prepare for what Peter reluctantly admits as the reason for which they were there in the first place – Jobs. Time is spent preparing impressive resumes, discussing with others on each aspect of these, and then revising them. The company representatives come in to present a rosy picture of life as an employee. At the end, the students decide what they would like to take up, and, after the usual interviews, are awarded with summer internships at reputed firms.
Peter himself lands up a job at an investment-banking firm. His relief is enormous, and his apprehensions about whether he would fit into the world of money and business are temporarily cast aside. Yet, he finds that this world is not for him (as do the people who hired him).
The 2nd year of the MBA course is not discussed in much detail, since there is nothing new for the students, and each of them becomes engrossed in their own specialized subjects. At the end of the 2nd year there are 3 categories of students – those who land up the jobs of their dreams, those who do not manage to do it, but still end up with decent jobs, and those who have to rough it out on their own. As you guessed, Peter belongs to the 3rd category. His search leads him to meet eminent people of the business and technology world, like Rupert Murdoch and Steven Jobs. He opts for a career in Television Journalism, and joins Murdoch’s firm. Then comes the depression of the early 90s. With job-cuts being the order of the day, MBAs start getting laid-off and the Stanford students, Peter included, are no exception.
Peter’s conclusion is that though a Stanford MBA does little to mould a person into a good, or indeed, successful manager, it does have its merits. The respect it commands in the industry is enormous. In Peter’s own words, the likes of Murdoch and Jobs would not cast a second glance at his Resume, had he not been a Stanford alumni. Stanford also gives students the confidence to face life’s situations with dignity and confidence (If I could get through Stanford MBA School, I can get through this situation!).
A very readable book, and recommended for those who want to know what they’re getting into, by enrolling for the MBA at reputed business schools.
