MBA Job Search

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You will probably spend a lot of time working on the job search. This section should complement the information you will get from your school’s placement office, in order to understand and prepare better for each step

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...

3 Ways to Sell Yourself With an MBA Resume

The MBA resume is a whole other animal from the standard curriculum vitae designed to land you a job. The resume you tailor specifically for business schools should offer a quick snapshot of your significant work experiences and accomplishments in three areas that showcase your MBA-relevant skills. • Leadership: Business schools want to see applicants who already have strong leadership skills. You’ll further groom your management abilities during your MBA program, but the admissions committee wants to know that the foundation is already there. Give evidence of when you united people behind a common goal, made use of other’s talents and skills, instilled a vision, challenged the status quo, identified a new problem or prioritized the needs of the organization above personal needs. If you formally manage one or more people, don’t leave that information out. Even if you supervise and mentor someone informally, that should go on the resume as well. If you have played a role in training peers, subordinates or even those senior to you (perhaps on a new type of software), include that on your resume. Anything that shows how you identified an opportunity and took initiative is a great thing to include. My client, George, was concerned because he did not have a title change throughout his four years at a defense contracting company. Because he worked in an engineering function, increase in responsibility was marked by a raise instead of a new title. My colleagues and I took a look at what George did outside of work to see where he could highlight a leadership role. George had participated in an annual charity bike ride for the past five years, and we suggested that he volunteer to coordinate the next ride. The event...

How To Ace The Job Interview: Advice For MBA Students...

This post was cowritten with Ellen Regan, a first year MBA student at the Darden School of Business, actively recruiting for internships in marketing. To help Marketing/GM students prepare for the recruiting gauntlet, we sat in on a couple of interviewing workshop sessions led by Johnson & Johnson and E.&J. Gallo at the Darden School of Business, University of Virginia. To see tips on how to ace the interview from Johnson & Johnson, click here. Below are tips from Lee Susen, Marketing Director, from E.&J. Gallo (the world’s largest wine company and one of the top 100 companies for flexible green jobs). Tips from E.&J. Gallo: 1. Understand what the interviewer is looking for – Typically an interviewer is trying to get a sense of four things when speaking with a candidate: interest, fit, leadership, and skill. Make sure you can answer the following questions: Can you articulate why you are interested in the industry/company/role? Can you demonstrate that you understand the core values of the company? Have you been a leader in the past and are you well positioned to lead people in the future? Do you have direct or transferable marketing skills that can add immediate value? 2. Know what a technical marketing interview question is – Technical marketing questions test your ability to demonstrate skill in marketing and passion for brand-building. They are typically shorter than marketing case questions (one sentence) and provide less parameters to candidates answering the question. Examples include: How would you improve the positioning of [brand]? Why is [brand] performing poorly and what would you do to fix it? How would you increase the penetration of [brand]? How would you extend [brand] into another category? Because these questions don’t provide a lot...

Got an MBA? Great, but I Prefer Uncommon Sense...

Interview with Byron Lewis Sr., the chairman and chief executive of the UniWorld Group Q. How do you hire? What qualities are you looking for? A. I’m looking for entrepreneurial capabilities. I’m looking for integrity. Q. How do you tell if somebody has integrity? A. We ask them for references, but it’s also an intuition you need to have. Many people who come to us don’t have traditional backgrounds. I’m looking for people who have ideas. I’m looking for people who can move the agency forward. I am looking for people who are different but different within the context of a business. Q. Can you elaborate on that last point? A. I’m looking for people who are not siloed. You have to know how to work with the creative people. You have to know how to bring the best out of them. Q. What’s your advice for getting the most out of creative people? A. Creative people never know when or where the inspiration will come from, and leaders should understand that. The best way to build a team is to let the creative people feel that you understand them, and if they want to go off strategy, let them have their commercial or two, but make sure you have what the client asks for. The best creative also comes from good strategic planning and staying on point. Q. Let’s say you just hired me, and I ask you, “What’s it like to work for you?” A. Well, I’m a piece of work. You have to understand that I never worked for an advertising agency or a mainstream marketing company. It might be difficult because I built this company and I’m a nontraditional person. I’m looking for ideas, and...

MBA in Job-Hunting?

Helping new M.B.A.s find jobs upon graduation has now become a central task of the modern business school… but While having an M.B.A. used to be a sure way to move up in the business world, helping new M.B.A.s find jobs upon graduation has now become a central task of the modern business school. Wake Forest University has taken this responsibility to heart, and administrators there have taken extra steps to ensure career success — practically making getting a job a course requirement. The school’s dean, Steve Reinemund, has made improving job placement rates for all students, but particularly full-time M.B.A. students, a top priority. He has hired an army of career counselors, integrated “career management” into the curriculum, and aggressively sought out mentors to work with students. And that effort has paid off for graduates, with the school’s job placement rate – measured by the number of students employed within three months of graduation – jumping from about 77 percent to about 92 percent in three years. That jump comes at a time when many business schools, particularly those that, like Wake Forest, aren’t at the very top of the list for employers or students, have struggled with job placement rates. For comparison, a recent survey by the Graduate Management Admissions Council found that 54 percent of full-time M.B.A. students in the U.S. had job offers at graduation in 2011, up from only 40 percent the year before. The decision to focus on ensuring that students find jobs has paid dividends for the school, which is making headlines, moving up in rankings, and seeing a stronger applicant pool. But it also raises questions about how central a role career services should play in a business education, particularly at...

MBA Students Give Career Services a New Assignment...

B-school career offices chase a new breed of employer as students look beyond Wall Street When the University of Chicago Booth School of Business first contacted Groupon in 2009, the school had no idea that the startup, then a year old, would later be valued at $4.75 billion. Booth’s career services department heard about the coupon site from students and alumni and contacted Chief Executive Officer Andrew Mason to make the case for hiring business school graduates. This year the company interviewed students from Booth and six other MBA programs for summer internships. Once upon a time, B-school grads were happy to land a job on Wall Street or at an S&P 500 company. Now, a growing number are setting their sights on less conventional careers. That has schools reaching out to startups, nonprofits, and other employers that don’t traditionally recruit on campus. Career-services officers are spending more time networking and accompanying students on treks to visit companies. Many B-schools are hiring additional staff dedicated to identifying potential employers. “We have to be much more proactive,” says J.J. Cutler, who manages career services at University of Pennsylvania’s Wharton School. “I need to have thousands and thousands of relationships with these small firms around the world.” The shift is driven by students, Cutler says. “Part of this is a reaction to the financial crisis, part of it is a generational shift, part of it is that they are coming from much more diverse backgrounds.” Amit Koren, a 29-year-old student at Booth, interned at Groupon over the summer and is working there while he completes his MBA. He didn’t meet with any of the big employers recruiting on campus last year because he wanted to work at a young company. “I...

Optimist with MBA lands the job

MBA graduates with an overall optimistic outlook spend less time and effort searching for jobs and receive offers more quickly, research shows Once they get the job, they’re even more likely to be promoted in the first two years than their pessimistic peers. Researchers surveyed 232 MBA students about their relative dispositional optimism”a general belief that good things tend to happen more often than bad things. Their answers were correlated to their job-search outcomes. The findings have been published in a working paper issued by the National Bureau of Economic Research. According to the researchers, optimists are more flexible in the way they handle difficult situations. Beyond a brighter outlook, there are a number of reasons why optimists might outperform others in the job market. For example, individuals who are articulate and personable may be more optimistic because they have learned to anticipate favorable outcomes when they interact with others. In other words, good things tend to happen to these people, which makes them more optimistic, which in turn perpetuates more good things occurring…Read full...

MBA hiring: Back with a vengeance

While U.S. unemployment remains stubbornly close to 10%, job prospects for this year’s class of MBAs are looking considerably brighter. While U.S. unemployment remains stubbornly close to 10%, job prospects for MBAs in the class of 2011 are looking considerably brighter. At Stanford Graduate School of Business, job postings are up 85% year over year. Boston Consulting Group, one of the largest employers of MBA graduates, plans to up its hiring by 18% this year. And a new survey of MBA employers shows that 64% plan to hire MBAs from the class of 2011, up four percentage points from a year earlier. “We are seeing an extremely sharp uptick from virtually every sector that recruits our MBAs,” says Pulin Sanghvi, director of Stanford’s career management center. “Most employers are coming back with sharply higher hiring numbers. There are parts of the economy right now that are really booming, particularly in tech, and that boom is creating even more jobs from the ecosystems around these companies.” On some level, the strong recovery in the MBA market is a reflection of pent-up demand for managerial talent. “People were being very conservative about staffing during the recession,” says Sanghvi. “Many are now finding that they are understaffed for what they are trying to accomplish, particularly for managerial talent. So that trend is very promising for MBA students across the country.” Less than three years ago, there was widespread worry and even despair as the economic meltdown took hold. Julie Morton, associate dean of career services for Chicago’s Booth School of Business, recalls receiving a text message from an MBA graduate working at Lehman Brothers just before the investment bank filed for bankruptcy in September of 2008. It read: “Lots of stuff is...

What now for MBAs?

Even in a down economy, MBAs can still navigate a great career path ” if they know where to look In the wake of the economic crisis, applications to business schools are on the rise, as college grads and business professionals seek shelter from an ugly job market. Some are re-tooling for the rebound; others are plotting alternative career tracks, now that Wall Street ” which typically absorbs 30 percent of new MBAs ” has retrenched, and as top companies in almost every industry are slashing headcount and budgets. Where, then, are the best opportunities for aspiring business leaders? BNET talked to b-school professors, recruiters, and companies and identified four career tracks where demand for management talent is likely to remain strong through the recession and beyond.Read full...

Action Words That Make An Amazing Resume

One of the most important things when writing a resume is to use action words. Not only will these words increase the impact of your resume in the eyes of the employers but they might help your resume get selected when recruiters use resume scanning Action Words That Make An Amazing Resume One of the most important things when writing a resume is to use action words. Not only will these words increase the impact of your resume in the eyes of the employers but they might help your resume get selected when recruiters use resume scanning software. Usually used to describe skills, experience and achievements, action words shouldn’t however be “stuffed” in your resume as you need to make sure your document sounds natural. Here is a list of action words that will turn your resume into a powerful marketing document: ability accelerated accelerated accomplished accurate achieved acted actively adapted addressed administered advised alerted allocated analyzed answered appeared applied appointed appraised approved arbitrated arranged assembled assessed assigned assisted assumed assured attained audited authored automated awarded balanced bought briefed broadened brought budgeted built calculated capacity careful cataloged caused chaired changed clarified clarified classified classified closed coached collected collected combined commented commitment communicated compared compiled completed comprehensive computed computed conceived conceived conceptualized conducted conducted considered consolidated constructed consulted continued contracted controlled converted coordinated corrected correspond graded granted guided halved handled cost control counseled counted created created critiqued cut dealt decided defined delegated delivered demonstrated described designed designed determined developed devised diagnosed diagnosed diplomatic directed discreet discussed dispatched distributed documented doubled drafted earned edited educated effected effective efficient eliminated enabled encouraged endorsed engineered enlarged enlisted entered established estimated evaluated examined executed expanded expedited experienced experimented explained explored expressed extended extracted fabricated...

How to Write Great Cover Letters

You have an impressive resume, you know how to present yourself well in an interview, you know what kind of position you are best suited for. . .now all you need is a chance to get your foot in the right door. Just what can you do to make that happe How to Write Great Cover Letters You have an impressive resume, you know how to present yourself well in an interview, you know what kind of position you are best suited for. . .now all you need is a chance to get your foot in the right door. Just what can you do to make that happen? Make sure you write a knockout cover letter, advise career planning specialists. “A cover letter is your chance to explain to an employer why he or she should consider you for the job,” says Jennie Z. Rothschild, Ph.D., executive director of Jewish Vocational Service on Reisterstown Road in Pikesville. “The best cover letters are specific and give examples that directly relate to the job you are trying to get.””Your cover letter is a targeted sales tool which should be tailored to the specific position you are seeking,” adds Ann Harrell of the Johns Hopkins University Career and Life Planning Center on Alexander Bell Drive in Columbia. The cover letter is also a good opportunity to show potential employers your writing skills, says Jennie Rothschild, and for those job-seekers whose native language is not English, a chance to show that you are comfortable with the language. Whatever your writing and language skills are, though, make sure that your letter has no mistakes. “Proofread! Proofread! Proofread!” emphasizes Ann Harrell. A cover letter, like most business correspondence, says Ms. Rothschild, has three basic parts:...

The Salary Interview Question

“What salary are you looking for?” Career advisors say this is the interview question that makes job applicants squirm in their chairs. The Salary Interview Question “What salary are you looking for?” Career advisors say this is the interview question that makes job applicants squirm in their chairs. Small wonder. Most of us aren’t comfortable talking about incomes. We have been taught it’s not polite to ask people how much they paid for something or how much money they make. But in a job interview, it can be a make or break question. You need to cut the best deal you can without sounding too greedy or pricing yourself out of the market. So what do you say? Career advisors suggest that you try to get the interviewer to give you an idea of the salary range the company would consider before you commit yourself. Having tried this myself, I’m not sure I agree. The problem is that it’s in the company’s interest to get you as cheaply as possible, so if you are given a range, it’s likely to be on the low side. Unless companies are in a bidding war over your unique credentials, the interviewer will not worry about setting a range too low to interest you. After all, if you find the salary unattractive, you’ll be expected to make the case for a higher one, and if the company can’t agree to your salary demands there are other qualified applicants who might come in lower. The need to ask for more than has been offered puts you on the defensive, a position that leaves many job- seekers uncomfortable. If you are one of those, then state your own salary expectations before you ask for the...