It’s not exactly Ivy League, but Hamburger University in Shanghai, McDonald’s China training school, has a less than one per cent admittance rate, compared with Harvard’s discouragingly low seven per cent admittance rate.
So what’s the beef? Well, Chinese college graduates are desperately in need of work considering a concerning 26 per cent unemployment rate as of July last year, so applications to Hamburger University eclipse the amount of trainee spots per week-long program. Many unemployed graduates are setting their sites on these types of corporate training environments as jobs at banks and other institutions fail to materialize. Couple this with a growing fast food market in China, and the incentive to work for Ronald starts to seem like a No. 1 combo.
Here’s the full story from the Bloomberg News.