In 2008 it seemed crazy for people to quit their jobs and take on a $100,000 debt to pay for the MBA, but they might have been right – a recent article from the WSJ is recapping what MBA career offices have been feeling this year – more companies are increasing their hiring from top MBA programs. “The incoming class is 40% to 50% larger than last year’s and is “far and away” the largest incoming M.B.A. class Bain has ever had” – per Bain’s head of global M.B.A. recruiting. Traditional MBA recruiters such as consulting and financial services are hiring more, as well as companies in the energy and private equity sectors. On the other hand, health-care and pharma companies, per a GMAC survey, are on average decreasing their hiring from last year. To get another angle on hiring, read this BusinessWeek article about the changes in MBA recruiting, specifically – more small companies and less financial services.
What does it mean to you, as an applicant?
1. If you are interested in consulting, don’t worry about being one of many in terms of career selection. MBA has been and will probably stay a big feeder for top Management consulting firms such as McKinsey, Bain, Booz, Deloitte and others. Focus on what’s drawing you to the industry, what will make you successful and of course how will the MBA prepare you for this career.
2. Be honest about your career goals whether you are interested in consulting, energy, education, entertainment or something else. As long as you have a strong story on where you want to go, why it makes sense for you and how the MBA fits into the equation you’re in a good place. I’ve worked with candidates that wanted to tell a career goal story based on the school – Media for NYU, pharma for HBS, Consumer goods for Kellogg etc. Don’t fake it – the admissions officers at top MBA schools such as Columbia, Harvard, NYU and Stanford are reading thousands of essays and resumes, and are able – just as the experts described in Blink by Malcolm Gladwell , to identify that something is wrong, and therefore cast a shade on your entire profile.
3. Do you research – make sure you understand what is the career path you’re seeking. If you think you’ll enjoy corporate finance, strategy, supply chain or anything else- talk with people, friend, go to networking events.
Need more help envisioning your career growth and articulating it? email yael@admit1mba.com for a free review of your career goal essays or to schedule a chat. Coupon code CAREER must be included.
Read the full article: Job market up for MBA grads & think-slicing MBA essays
