Getting an MBA job

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The job search is one of the most important (and the most important for many) aspects of an MBA program. Some people even call the MBA (ironically, of course) a two-year job search program. We have put together some useful information and resources.

World Recruiters showing more interest in hiring MBA students...

Corporate recruiters are planning to hire more MBA students (Masters of Business Administration), compared to last year, according to a survey by the Graduate Management Admission Council (GMAC). The study, conducted worldwide, had surveyed 842 corporate recruiters, of whom 88% plan to hire management graduates in 2016 compared to 80% last year. The demand for MBA graduates is high in the Asia-Pacific region, including India, with 84% employers planning to hire freshers against 73% last year. The survey has projected an increase in salary packages in this year. Globally, 54% of employers are likely to increase the salary package for MBAs at the rate of inflation. “Some 88% of corporate recruiters who work directly with graduate business schools plan to hire recent MBA graduates in 2016, up eight percentage points from last year and 33 percentage points higher than 2010, the lowest point of the Great Recession,” GMAC said in a release…Read full story: Staffing Industry...

The Job Market for MBAs Is the Best Since 2010...

Starting salaries are climbing, too. It took a while, but demand for MBAs has finally bounced back from the recession. A new study from the Graduate Management Admission Council says 88% of companies are planning to hire recent B-school grads this year. That’s a marked increase over last year’s 80%, and a huge jump — 33 percentage points — over 2010, a dismal year when B-schools saw what the report calls “a post-recession low.” Not only that, but salaries are recovering, too. Worldwide, more than half (54%) of companies say they’re sweetening starting pay for MBAs. U.S.-based employers plan to offer median salaries of $105,000, up a bit from $100,000 last year. GMAC’s researchers also asked about compensation for candidates with non-MBA master’s degrees. Tied for best paying: A master’s in data analytics and master’s in marketing, both with median starting salaries of $85,000. Drawn from two separate surveys of more than 2,000 employers worldwide, the study’s findings reflect the accelerating globalization of business in general, and the MBA job market in particular. For instance, 2016 B-school grads would be smart to make sure their passports are up to date, since about a third (30%) of companies hiring more MBAs this year plan to ship them out to “multiple world regions.” At the same time, American MBAs may find themselves facing more competition from B-school grads looking to move to the U.S. More than half (52%) of the companies surveyed said they either have definite intentions of hiring, or are willing to consider, “recent business school graduates who require additional legal documentation, such as work permits or visas.”…”Read full story:...

Here’s where MBA students want to work the most...

More than a quarter of business school students want to work for large investment banks, but increasingly more MBAs are setting their sights on startups, too. That’s according to an annual survey from Training the Street, which provides financial training courses to students and professionals. It asked 293 first- and second-year MBA students which type of firm would be their top employment choice. Bulge-bracket banks and global financial institutions came in first as the workplace of choice for 26.28% of respondents. 13.65% of respondents chose private equity firms, while 7.51% chose boutique banks. Of note, 7.17% of respondents chose startup companies as their choice place of employment – the highest percentage since Training the Street started providing that option in 2012. The percentage of MBAs looking to work for hedge funds was 4.78%, down from 4.9% last year. Here’s a look at the full tally…Read full story: Business...

The Top 4 Mistakes MBA Students Make During The Internship (And How To Prevent Them)...

For many MBA students, the path to the internship took a lot of hard work. First, you have to get excellent grades in undergrad. Then, you need to work for a few years (and be successful) at a branded, impressive company known for selective hiring. Next, you line up the grades, the essays, the GMAT, and the references to land a coveted spot in a top MBA program. And finally, you get an internship offer at a top company—often a company that only recruits from five to 10 top MBA programs. Students from around the world would work for free for such an opportunity. You can see the light at the tunnel. What matters now is succeeding during the internship. Can you successfully adapt to a top company’s expectations? And to a new culture? You only have three months—what will it take to demonstrate competence and fit? I was recently talking to Elizabeth Diley, the recruiting manager for MBA hiring at General Mill’s, one of the world’s best companies at developing leaders (No. 3 on Fortune’s list). After almost eight years in recruiting, Elizabeth has since moved to an internal staffing role within General Mills developing marketing talent through their rotational and leadership programs. I asked her how students can succeed during the internship. Because of Diley’s connection to the recruiting industry, she had several illuminating stories to share. Below is her insight on the mistakes MBA students make—and how to prevent them. Top Mistakes MBA Students Make and How to Prevent Them 1. Believing That The Company Must Adapt To Them: One of the most common mistakes MBA students make, across industries, is to focus on what they want, or what they need. However, the business community is...

Harvard and Stanford MBAs Are Using This Brazilian Network To Land Jobs In Latin America...

Deep in the Latin America’s biggest economy, a network of MBAs from some of the US’s top schools is stirring. Founded by Patricia Volpi over a decade ago, the exclusive MBA Alumni Brasil community has grown to nearly 2,200 members, from 50 business schools including Harvard Business School and Stanford GSB. “The group has really taken off,” says the Indiana, Kelley School graduate. MBAAB helps graduates network and find MBA jobs through company visits, “happy hour” drinks doos, from São Paulo, Rio de Janeiro, and Belo Horizonte to Miami, New York and London, and job postings from companies such as Bloomberg, Microsoft and Nestlé. “The exchange of job opportunities drove the group,” says Patricia, who has worked at Frost & Sullivan, Telefonica and GNext, a recruitment firm. But Brazil is mired by a political crisis and a faltering economy. Its president, Dilma Rousseff, has been suspended and its central bank forecasts GDP to contract 3.5% in 2016. “One of the challenges was finding jobs that met MBAs’ salary expectations,” Patricia says. Below, BB speaks to two members of the MBAAB network working in São Paulo. A Hub For Entrepreneurs With a large financial center, well-regarded universities, and local heroes such as Dafiti, the e-commerce business backed with $250 million of venture capital, the city has a growing start-up ecosystem. “São Paulo is the best region in Brazil for entrepreneurs,” says Ric Scheinkman. The local entrepreneur is managing director and founding partner of Harpia Capital, an advisory and investment firm. He plans to study for an MBA at University of Miami, and says the MBAAB network has introduced him to top-level executives and entrepreneurs in São Paulo. “It has some of the best and brightest of the Brazilian business community,”...

Glassdoor for MBAs and Startups

One of the big issues with employment review websites, such as Glassdoor, is that feedback is usually submitted only by those who had a really great, or really bad, experience at a company. And feedback is so general, it doesn’t offer an accurate snapshot for people with diverse backgrounds: A business school student fresh out of undergrad sees the same salary range as someone with an MBA, for example. Smaller companies and startups without many employees, aren’t as well represented as major corporations. University of Chicago Booth startup TransparenC is hoping to change that with curated career sites. They’re starting with a website tailored to MBA students, called TransparentMBA, but they anticipate expanding their platform to law, engineering, and tech among other niche job seekers not served by general career sites like Glassdoor and Linkedin. The idea first came to Mitch Kirby, a UChicago Booth student, last fall when attempting to look for jobs post-graduation. Glassdoor felt like “information overload” he said, and most of the aggregate information didn’t give him an idea of how his qualification–an MBA from a top-ranked business school–would translate to a position or compensation. So he decided to create a platform that gave more granular information on companies and careers for MBA students (he coded it himself), and see if his classmates were interested. They were: about 50 percent of Booth students quickly signed up, he said. Profiles for companies, jobs, and industries are built through feedback that users provide, which they’re required to submit when signing up for the platform. Users can see feedback such as expected compensation, satisfaction rates, and culture fit for an MBA at a given company and position. They can also compare the experiences at the industry level. Kirby...

Here’s Why Goldman Sachs, Citi, Credit Suisse Are Snapping Up IESE B-School MBAs...

Pascal Michels likes to think of himself as a market maker. For some MBAs, technology firms have replaced banks as the employer of choice. But while investment banking is down as a career, it’s not out. “We make sure we educate MBAs about the opportunities,” says Pascal, associate director of career services at Spain’s IESE Business School. And the opportunities are seemingly plentiful. Investment bank recruitment has surged at IESE, beating all records since before the financial crisis in 2007/08. Bank of America Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, and Nomura are all recruiting, Pascal says. Thirty-one job offers were made by investment banks in 2016 to IESE’s MBAs, up from 22 the year before. Of the 61 IESE MBAs who applied for jobs at investment banks, 19 received at least one offer. Some received as many as four. Elle Connor, an associate recruiter at Morgan Stanley in London, says IESE is one of the investment bank’s three elite target schools. “The MBA profile brings something a little more niche to the floor, and has a more mature approach to certain situations. That’s why we continue to grow our MBA hiring,” she says. It is a similar story at Nomura. Sam Price, a Nomura graduate recruitment associate, says: “We target IESE Business School” along with two other European-based schools. Nomura values MBAs, he says, because “they can bring in some experience. The traditional route to the associate level would be through years as an analyst. An MBA is already at the associate level”. Andrea Hayem joined Morgan Stanley in June 2015 as a summer associate. The IESE MBA believes the business school was key to her landing the job. “Career services supports you throughout...

Navigating Your Career Journey After The MBA

Having taught and talked with many MBA students, I am struck by an observation. Some students see their first job as the destination, rather than the beginning of a very long journey with the destination (the final point on their career trek) to occur decades in the future. This makes some sense. Many planned after college to work for a few years, apply for graduate school, attend graduate school, obtain an internship, and then get a job. What seems to a 19-year-old a very long and arduous process (taking more than 10 years) culminates with the attainment of a job that often can increase their income two- or three-fold. However, the first job places them at the bottom of another mountain. It is not the pinnacle. To understand how to think about a career journey, I talked with Debra Bass, the President of Johnson and Johnson’s Global Baby Franchise Organization, who has crafted an interesting journey from Procter and Gamble to JNJ, after obtaining her MBA from the University of Michigan, Ross School of Management. Below, Debra shares her thoughts on how to think about a career. 1. Your career is a lattice … and not a ladder. In reality, there is never just one path to achieve your career aspirations. Putting pressure on yourself to pick the “right” path is unnecessary. 2. But start with a destination. It’s important to think of your career as a journey with a North Star destination point—one that can guide you toward a vision of your future but enable you to take multiple different paths to get there. While your North Star doesn’t need to be hard and fast at age 28, it should provide a direction for you to move toward....

A cheap way of hiring MBA graduates

MBA students are adept at putting a value on long-term cash flows. New research suggests this mentality is also present in their evaluation of job offers — particularly if an alumnus of their business school is doing the recruiting. Professors from NYU Stern and MIT Sloan found that students securing a job through a member of their institution’s alumni network received a starting package worth 16 per cent less than those recruited through more traditional — and more impersonal — campus hiring events. They took that lower offer after being comforted by the fact it originated from a former student on the same top programme, argues NYU Stern’s Jason Greenberg, co-author of the research — to be published in Sociological Science — with MIT Sloan’s Roberto Fernandez. “The jobs coming through the alumni channel are perceived as having significantly better growth potential,” he says, linking this preoccupation with long-term cash flow to the net present value calculations that are a staple of MBA courses. “They are willing to take less today for a job that has better prospects in the long run.” As well as giving a clearer view of what the job entails, an approach from an alumnus can offer a reassuring vision of what the young graduate’s career might look like in a few years’ time. “You get a window into your potential future.” How can recruiters exploit this bond of trust? Prof Greenberg suggests that smaller employers who cannot afford the hoopla of on-campus hiring could use their MBA graduates to target young prospects in their old classrooms. But the strategy may not yield long-term savings: even net present value addicts will at some point demand to be paid the prevailing market rate. Read full story:...

14 MBA Programs That Lead to Jobs

Landing that first job is a major concern for MBA students, and some programs are more likely to lead to success than others. Among the 129 business schools that submitted job placement data to U.S. News in an annual survey, two of them – the University of South Florida and Coastal Carolina University in South Carolina – saw 100 percent of MBA graduates who sought jobs employed three months after completing their degrees in 2015. Both of these schools, however, were ranked by U.S. News in the bottom one-fourth of the 2017 Best Business Schools rankings. In comparison, Washington University in St. Louis’ Olin Business School, the highest-ranked school among the 14 MBA programs with the highest employment rates, had a job placement rate of 97.1 percent. None of the 14 schools with the highest job placement rates ranked above No. 21 in the graduate business school rankings. Overall, top-ranked schools had higher enrollments and, therefore, many more graduates looking for jobs after graduation. For instance, Harvard University, ranked No. 1, had 672 full-time grads seeking employment and a job placement rate of 91.1 percent by three months after graduation. Of all the schools that submitted these data, Florida International University came out on the bottom of the list with a job placement rate of 27.3 percent – significantly lower than both the overall average of 83.9 percent and the average for the top 14 of 97.1 percent. Below is a list of the 14 full-time MBA programs where the highest percentages of job-seeking graduates were employed three months after graduating in 2015. Unranked schools, which did not meet certain criteria required by U.S. News to be numerically ranked, were not considered for this report. School (name) (state) |...

Silicon Valley May Want MBAs More Than Wall Street Does...

PayPal co-founder Peter Thiel said MBAs are predisposed to “herdlike thinking and behavior.” Venture capitalist Marc Andreessen dubbed them a contrarian indicator, saying “if they want to go into tech, that means a bubble is forming.” In a post on the question-and-answer website Quora, Facebook Chief Operating Officer Sheryl Sandberg, who earned an MBA from Harvard in 1995, said that while she got “great value” from her experience, she wasn’t ready to recommend the degree to the country’s future tech stars. “MBAs are not necessary at Facebook and I don’t believe they are important for working in the tech industry,” Sandberg wrote. Silicon Valley’s trash talking of the MBA obscures the reality that U.S. tech companies are hiring B-school grads in ever-larger numbers. Business schools sent 16 percent of their 2015 graduates into technology jobs, according to a Bloomberg Businessweek survey of students who’d accepted offers by that spring, making it the No. 3 industry for MBA grads after finance and consulting. By one measure, Silicon Valley values MBAs more than Wall Street does. In 2015 tech companies paid business school graduates more than financial companies did, according to Businessweek’s poll of more than 9,000 MBAs. “If I said all people with a law degree are worthless, what would you say?” says Rich Lyons, dean at the University of California at Berkeley’s Haas School of Business. Forty-three percent of its 2015 class went into tech, according to the survey. “It’s such an unwarranted generalization. Firms wouldn’t keep coming back to hire our MBAs if it wasn’t a valuable skill set.” Amazon.com, Microsoft, Google, and IBM were among the 15 companies that hired the most MBAs in 2015, according to data reported by 103 business schools to Businessweek, proof that while...

Porn star Alix Lynx with an MBA, living X-rated dream after quitting office job...

A high-achieving graduate has lifted the lid on why she turned her back on a promising career to pursue her dream of becoming a PORN mega-star. Alix Lynx worked hard to earn a degree in communications and then an MBA in digital marketing, and was rewarded with a string of office jobs. But the corporate world just wouldn’t do for the racy blonde, and after a stint doing webcam shows, she decided to carve out a career in porn. The 26-year-old says she first realised she wanted to be an X-rated movie star after watching a documentary about the industry. Read full story:...