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.

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...

Why an MBA may not be enough to get you the banking job you desire...

Before the financial crisis, investment banks were some of the biggest recruiters of MBAs. I was one of the people recruiting MBAs on their behalf, writes Derek Walker, an independent careers consultant, a former director of campus recruitment at Barclays, and a former director of staffing for the investment bank Merrill Lynch. In 2008, Lehman Brothers’ many investment banks were amongst the top hirers of MBAs globally. Eight years on, and the picture is very different. Now consultancies have taken over as main employers. London Business School’s most recent MBA employment report for 2014 shows that the biggest hirers of its MBAs were McKinsey & Co, the Boston Consulting Group, Bain & Co and A.T. Kearney. Collectively, these firms hired 71 students. By comparison, the biggest banking hirers (Citi, Bank of America, Merrill Lynch, Goldman Sachs, Morgan Stanley and Nomura) hired as few as 25 people. Ten years ago, banks often hired MBA associates into IBD – that means M&A and corporate finance roles – and also into sales and trading, equity research, private banking and wealth management. Now, most MBAs are mainly hired into IBD. Trading floors rather focus on students from financial masters programmes and undergrads. If you think you have a strong academic and professional background and still want to go into banking, Walker suggests a number of areas where to put the focus of an application: Demonstrate some understanding of financial modelling. If you aspire to work in banking after the course is over, you really need to attend some extra-curricular or online modelling classes while you’re studying. You need to know about the firm and the deals they’ve been doing – and be able to discuss market reaction to the aspects of the firm’s...

These were the highest paid MBAs in 2015

One MBA graduate last year struck gold to the tune of a $467,000 payday. Others, meanwhile, had a much harder time establishing financial footing. Those figures are according to a Poets & Quants report compiling the highest and lowest base salaries of 2015 MBA graduates, based on business school employment records. The highest reported MBA starting compensation came in at a whopping $467,000, more than 50 percent higher than the next highest base salary last year. The sum went to a private equity employee who graduated from Columbia Business School, whose graduates last year saw a median salary of $125,000. Another Columbia graduate took a $320,000 per year starting salary in consumer products. Meanwhile, a Stanford MBA saw the lowest reported compensation. The graduate had a base salary of $18,000 at a non-profit organization in Europe, according to Poets & Quants. Last year’s Stanford graduates working in non-profits enjoyed median starting salaries of $100,000. The Wharton School at the University of Pennsylvania, meanwhile, reported a graduate with a low compensation of $24,000. Stanford MBA graduates earning the highest salaries were most commonly employed in hedge funds, private equity, health care, investment management, and venture capital, according to the report. On the opposite side of the spectrum, “social impact” industries, like non-profits and government work, were the most common industries among the lowest reported salaries. Though many schools reported these earning profiles, the numbers can be considered a conservative estimate due to the fact that schools attempt to protect the privacy of their graduates and prevent inflating applicants’ expectations.Read full story:...

Elite MBA Students Are Spurning McKinsey, Bain For Freelance Consulting Sites...

An MBA job at McKinsey & Co or BCG was once the pinnacle for MBA students. But for graduates of elite schools like Harvard, Stanford or Wharton, freelance consulting is increasing alluring. As the rise of so-called unicorn companies like Uber or Airbnb — valued above a billion dollars — has spurred the “gig economy”, for a growing number of MBAs, the flexibility of short-term projects trumps the prestige of Bain & Co, et al. Harvard MBA Marta Mussacaleca worked at McKinsey and BCG before business school, but turned to HourlyNerd, a freelance consultancy site, to earn cash during the two-year degree. Some projects were more enjoyable than at established firms. “They have pushed me to become more adventurous,” she says. “Not having an evaluation committee scrutinizing your every move frees up creativity. I basically get to be my own consulting firm and am exposed to every single element in the process.”…Read full story:...

How many Indian CEOs have an MBA?

Does one need to have an MBA to ascend to the top of Indian companies? Not necessarily, but it helps. A Mint analysis shows that 144 of the CEOs of BSE 500 companies, India’s largest listed firms that make up 90% of its market capitalisation, have an MBA. Details were available for only 466 companies. Here, the term MBA is used loosely, to also include the much sought after post graduate diploma in business management or PGDBM that is awarded by the Indian Institutes of Management or IIMs. No other educational qualification comes close. Interestingly 81 of the CEOs are engineers but it is likely that many of the 144 CEOs with MBAs are engineer-MBAs. The Indian Institute of Technology and Indian Institute of Management Combination was and is a popular one. Still, there are 322 companies whose CEOs are not MBAs and it is evident that a B-school background may not be necessary to rise to the top — even in the case of professional managers. Here are five charts on the educational background of India’s top CEOs…Read full story:...

How To Stand Out In A Crowd Of Freshly-Minted Grads...

In today’s very competitive job market, graduate students, especially those with limited work experience, must develop an array of skills that will help them to stand out in a crowd of freshly minted graduates all competing for the same available jobs. I have seen a common thread — business schools are doing a fine job in preparing their graduates with solid core skills, whether in accounting, finance, marketing, or operations. Some schools make an attempt in leveraging those skills by adding management, leadership, negotiation, business ethics, and similar subjects to strengthen the available tool-sets of their students. What we often hear from employers and alumni alike is that additional skills, some call them soft-skills or complex skills, are needed to succeed in securing MBA jobs. To prepare for today’s competitive jobs market, here are five recommendations: 1) Obtaining an advanced degree is a smart career booster — it is often needed, and sometimes even required, for many roles in the business world. Companies often seek graduates with an MBA, masters in finance, or an advanced technology degree in engineering or computer science. In general, multinational companies like to recruit candidates who have a global mind-set and have experience studying and/or working abroad. For example, according to an article in the New York Times, employers in China are very interested in recruiting prospective employees who have a Chinese undergraduate degree and an MBA from a business school in the US. Understanding global economic complexity is a prerequisite to being able to interact and negotiate with international partners. 2) Previous business experience of one-to-three years — and success in that field — is often on a recruiter’s check-list. 3) A recent survey of recruiters, conducted by the National Association of Colleges...

Why an MBA won’t get you the banking job you want. And what you can do about this...

Do you aspire to a job in an investment bank in order to recoup the tens of thousands you’ve spent on your MBA? Before you hit “submit” on your application, here are a few things you should bear in mind about looking for a job in investment banking in Europe with an MBA. Before the financial crisis, investment banks were some of the biggest recruiters of MBAs. I was one of the people recruiting MBAs on their behalf. In 2008, Lehman Brothers was one of the top 5 hirers of MBAs globally. Merrill Lynch, where I’d also worked, was one of the top employers too. Eight years on, and banks have fallen away. Instead, the consulting firms are the biggest recruiters of MBAs from top schools. For example, London Business School’s most recent MBA employment report, for 2014, shows that the biggest hirers of its MBAs were McKinsey & Co, the Boston Consulting Group, Bain & Co and A.T. Kearney. Collectively, these firms hired 71 students. By comparison, the biggest banking hirers (Citi, Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and Nomura) hired just 25 people. Banks generally hire MBAs into a far narrower range of roles than previously. Ten years ago, banks often hired MBA associates into IBD (M&A and corporate finance) sales and trading, equity research, private banking and wealth management. Now, most MBAs are hired into IBD. A few are hired into wealth management and commercial banking roles, but not many. Trading floors tend to focus on students from financial masters programmes and undergrads. Although banks are looking for relatively small numbers of MBAs, you don’t necessarily need to have worked in banking prior to the MBA. However, banks behave as most employers would...

MBA programmes that yield the best salaries

One major component of Business Insider’s ranking is the average starting salary. Looking at this exclusively, you can filter out the business schools that yield the best salaries after graduation. Among the 50 leading schools, students from 22 schools went on achieving base salaries over 100,000 US-Dollar. Although Stanford placed fourth on the overall list, its graduates earn the highest starting salaries of all the schools, averaging more than 133,000 US-Dollar. Other high achievers like Harvard and Wharton fared well as well. Harvard graduates earn an average of more than 131,000 US-Dollar after school and Wharton graduates average on more than 127,000 US-Dollar, though Wharton’s tuition cost also amounts to 144,340 US-Dollar. The Wharton School topped the Business Insider ranking overall in 2015 for all-around excellence (see article above). Wharton’s salary expectation is similar to Columbia Business School’s as well as Sloan School of Management’s and the Booth School of Business’s. Graduates of Dartmouth’s Tuck School of Business follow with an average starting salary of 123,900 US-Dollar. Amongst the 22 schools are many more well-known schools like the Anderson School of Management, the Fuqua School of Business, Yale School of Management, London Business School, Darden Business School, the Booth School of Business or the Kellogg School of Management. But other not as well-known universities do well in the salary category as well. Graduates from the Foster School of Business, the Jones Graduate School of Business or the McCombs School of Business also break the ranks of the 100,000 US-Dollarfor example. Read full story: MBA...

10 Leading MBA Programs That Produce Immediate Placement After Graduation...

Discounting MBA programs at Harvard and Stanford, where growing demand is related to entrepreneurship particularly with Harvard Business School’s Rock Center for Entrepreneurship, the following programs are found to produce the highest rate of job placement successes with employers as McKinsey & Co., Goldman Sachs, Amazon, Bain & Co. In a report by Business Insider, the over-all ranking of these schools were determined with consideration of such factors as reputation, starting salary average, gap-length between graduation and job placement, GMAT result and program cost. 1 University of Chicago, Booth School of Business at 98% With top placements at McKinsey & Co., Bain & Co., Amazon, Boston Consulting Group, and Bank of America graduates of the Booth School of Business are snapped up within three months of completing the program. 2 Washington University in St. Louis, Olin Business School at 97% Focused on both corporate and nonprofit consulting, entrepreneurship and global studies, a considerable number of Olin graduates go into financial services, consumer products and technology industry. 3 University of Warwick, Warwick Business School at 97% Placements are largely with American Express, Citibank, Amazon and Goldman Sachs for graduates of this program. 4 University of Washington, Foster School of Business at 96% McKinsey & Co., Starbucks, Amazon, Johnson & Johnson and Northwestern Mutual are quick to grab Foster’s graduates. 5 Georgia Tech, Scheller College of Business at 96% Borrowing largely from Georgia Tech’s strength in technological focus, this program produces graduates that have a more current and relevant business training. A large percentage of students go on to fill consulting and technology posts. 6 University of Virginia, Darden School of Business at 95% Bain & Co. and A.T. Kearney and similar firms employ a good number of Darden graduates. The...

Facebook actually does want MBAs – no matter what Sheryl Sandberg says...

Though Facebook COO Sheryl Sandberg got an MBA from Harvard Business School, she has questioned whether such a degree actually helps people in the tech industry. In a recent Quora thread, she even went so far as to say: “MBAs are not necessary at Facebook and I don’t believe they are important for working in the tech industry.” Whether or not this is true is hard to pinpoint, partially because Sandberg’s wording is vague. What does she mean by important? Important to get a job, to do you job, to move up the ladder, to start your own business? But there is one part of her claim we can check, one that is useful for anyone considering either an MBA or the tech industry. Do hiring managers in Silicon Valley agree with Sandberg? In other words, does having an MBA matter in getting a job? Research suggests that, in fact, hiring managers don’t agree (even at Facebook itself). Silicon Valley wants MBAs. Tapwage, a job discovery startup, analyzed over 100,000 job listings to find out whether having an MBA mattered in Silicon Valley. They started from this premise: “If hiring managers don’t believe in the value of an MBA, there wouldn’t be any point in stating it as a criteria for selection on job postings.” Looking at Facebook in particular, they found that the company had 75 jobs (9% of total openings) that either had a preference for an MBA (or required one). They found similar or higher percentages at other tech giants like Google, Amazon, and Apple. When Tapwage compared tech companies to Wall Street banks, they found that MBAs were actually in higher demand in tech companies. An example: Facebook looks for three times as many MBAs...

20 top MBA programs whose grads land jobs right out of school...

Our sixth annual ranking of the 50 best business schools in the world evaluated MBA programs based on reputation, average starting salary after graduation, job-placement rate within three months of graduation, average GMAT score, and tuition and fees. (Read our full methodology here.) Because business school is such a hefty investment, the ability to get a job soon after graduating is an important factor in choosing where to go. To come up with our list of the 20 top business schools for getting a job right away, we broke out the schools by job-placement rate. Some schools that ranked highly on our main list didn’t make this ranking because of lower job-placement figures, such as Harvard (91%) and Stanford (86%). It’s worth noting though that many students at these schools decide to start their own businesses — an employment result that schools don’t factor into their overall job-placement statistic. Keep scrolling to see the best business schools for finding a job after graduating, listed here in ascending order by job-placement percentage. Columbia University — Columbia Business School Location: New York, New York Job-placement rate: 93% Students begin crafting their network and community within the business world the minute they arrive at Columbia, thanks in part to the school’s cluster system, which places first-year students in “clusters” of 65 to 70 people who take all their core classes together. Columbia also counts some of the greatest minds in finance among its alumni, including Berkshire Hathaway CEO Warren Buffett and former Bank of America executive Sallie Krawcheck. University of London — London Business School (LBS) Location: London, England Job-placement rate: 93% University of London’s business school is once again the best outside the US. With 75% of the top-500 global companies...

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...