That Theatre Guy
MFAs are the New MBAs
Cory Sandrock
Issue date: 4/1/05 Section: Arts & Entertainment
Something is rotten in the state of Wall Street. Banks that have for years relied on the analytical prowess of newly dubbed MBAs are suddenly shifting their thinking. This trend is nothing short of epidemic and business students everywhere are being left in the dust. What is this new hiring trend you may ask? In an effort to soften their satanic workaholic reputations, banks are increasingly hiring MFAs instead of MBAs for their key associate position. Simply put, this paradigm shift proclaims, "Alas, poor Jorick, your pricey MBA no longer guarantees a six-figure salary. Whatever shall you do?"
MFA?
An MFA, for the uneducated amongst you, is a Masters of Fine Arts Degree and is commonly awarded to graduate students in fields such as acting, directing, sculpture, and photography, among others. The power of this degree lies in its disdain for all things numerical and economical. The reliance on Excel and obsession with Power Point that MBAs are accustomed to have vanished, replaced by classes in color theory, Shakespeare, and medieval French poetry. Wall Street increasingly demands these skills because there are already sufficient numbers of math nerds in the ivory towers of Goldman, Lehman, and Morgan. What is needed, say Managing Directors, are more "artsy types with wacky ideas." Claus Berlin of Deutsche Bank, one of the few big banks not named after an individual, explains how "we began monitoring our incoming associates a few years ago and noticed that they were all quite competitive. Indeed, most of them were focused on money and little else. That simply would not do, especially because we are German. We thus decided to focus on candidates who could bring different sets of knowledge to the table." Deutsche has since hired several associates with MFAs in Shakespeare, Lighting Design, and Ancient Pottery. "We have yet to see any results," notes Claus, "but we know they are coming. Why, just yesterday I heard one of our new associates recite a sonnet to clients. It was quite refreshing."
MFA?
An MFA, for the uneducated amongst you, is a Masters of Fine Arts Degree and is commonly awarded to graduate students in fields such as acting, directing, sculpture, and photography, among others. The power of this degree lies in its disdain for all things numerical and economical. The reliance on Excel and obsession with Power Point that MBAs are accustomed to have vanished, replaced by classes in color theory, Shakespeare, and medieval French poetry. Wall Street increasingly demands these skills because there are already sufficient numbers of math nerds in the ivory towers of Goldman, Lehman, and Morgan. What is needed, say Managing Directors, are more "artsy types with wacky ideas." Claus Berlin of Deutsche Bank, one of the few big banks not named after an individual, explains how "we began monitoring our incoming associates a few years ago and noticed that they were all quite competitive. Indeed, most of them were focused on money and little else. That simply would not do, especially because we are German. We thus decided to focus on candidates who could bring different sets of knowledge to the table." Deutsche has since hired several associates with MFAs in Shakespeare, Lighting Design, and Ancient Pottery. "We have yet to see any results," notes Claus, "but we know they are coming. Why, just yesterday I heard one of our new associates recite a sonnet to clients. It was quite refreshing."