In my point of view, research ability is important not only for academic study but also for work in buisness/finance, especially when the real world is stressing more and more on evidence-based managment. As one CEO from a large US entertainment company put it, in god we trust, everyone else has to bring data. If we can get good training in research ability and skills during our study in the university, it would definitely be an asset for our career development in real world.
I agree that in real world, we may deal with all kinds of routine tasks and jobs, which require experience, skills, professional knowledge, patience, obedience... anything but research. However, although research is not written in our job description, with research ability we can stand higher and may outperform those who have not.
Just read a small story. A company hired a very young secretary. She was asked to book flight ticket for the director. As the company had its own ticket agent, it seemed to be a very easy task for the young secretary just to make a call and get the ticket. However, to the director's surprise, he didn't receive the ticket but a comparison chart containing all the prices from different ticket agents and carriers. The secretary did a small research and found another ticket agent who could provid better price and more convenient flight schedule for the director. This small research earned the young secretary a big leap in her career. She would be trained as manager in the company.
Unfortunately I have never been able to work for IBs. But I assume the MBA and the person who has no finance background but can still finish equity research paper must already have had the research abilities to fulfill the task.
Last but not the least, ranking of the universities means nothing to young graduates. Everyone has to perform his or her own abilities to compete with graduates from other universities, whether they are from Peking Univ. or just an unknown university from an unknown city.
[ 本帖最后由 CHAN 于 2010-1-19 20:14 编辑 ] |