Shockingly It Happened - Post Referendum Discussions

So the last couple of weeks have seen a flurry of discussion in our MBA class Whatsapp group around Brexit, the referendum and currency exchange. Most of us believed the vote would be to remain, so it was quite unexpected to follow the vote counts today and learn that Brexit won the referendum. Naturally the pound has plunged in value, much to the annoyance of some of us who were keen on capitalising on the volatile pound prior to the vote and converted most of our available cash to pounds.

I must say that I'm definitely looking forward to classes and discussions with my fellow classmates if our discussions are anything like those we've been having on Whatsapp around the Brexit!

We've had discussions around the impacts and potential outcomes of the Brexit. Also around what potential negotiations with the EU might look like. Certainly there's much concern over how this will affect us in 2018 when we graduate, and in the shorter term, obtaining those summer internships. The general commentary in the group is that consultancies will be doing well due to the Brexit. After all, businesses will need strategies to cope with the impacts. Guess that would be where most MBA's are going to be headed!

The lawyers in the class assure us that from a legal standpoint though, the Brexit isn't guaranteed yet. There's still the Parliament vote, invoking Article 50, and then final negotiations with the EU. To be honest, although the world and corporates are reacting to the news now, I don't see there being much change in London in the short term. It'll take at least 2 years before anything even happens. In the long term, who knows? The dust would have settled and the markets adjust, and life will carry on BAU. This really good commentary on the Brexit by Alex Edmans, professor at LBS is worth a read.

So my long term plan of moving to work in London post-MBA still remains unchanged. After all, my belief is that if you're determined enough and willing to put in effort, then you'll be able to find a job regardless of market conditions. The LBS brand still remains strong and I'm confident they'll be able to maintain this. Still, the referendum outcome has definitely been a curve ball and we're looking forward to the interesting case studies that Brexit will present.

The silver lining? Our tuition at LBS just got a whole lot cheaper. Time to convert cash!