Jack Oaks and do not want to see the current situation. As the U.S. University of Virginia Darden School of Business Center for Professional Development, Oaks to see the Great Depression and deprive students of the many job opportunities. As for the Master of Business Administration in 2010, the students, the outlook is not optimistic. As the end of February, only 64% of the students said the feedback has been hired, the data also lower than in February 2009 to 69% during the Depression low (in the eve of the crisis of 2008, about 81%). As the world's leading business schools from such Darden graduates supposedly should be very popular, but now the situation is obviously very tragic to see. It seems to be some action.
March 16, Oaks College in your most famous alumni, senior tenured professor to send an e-mail, described the problems now facing, and seek help. E-mail subject headings are: from the Darden School of the war call. Oaks said: "Although the war did not happen, but for those students still looking for a job, and now they feel like the case of war." Message sent out after a few hours, dozens of alumni back closure letters have provided job information. As of May graduates, 77% of the MBA, the students received a recruitment letter, three months after the data has reached 87%. In this regard, Oaks said: "In the past we've never done it before, because there is no need to do so, but now the situation is different."
Because of the financial crisis kills or reduces the number of MBA recruiting company size, for example, U.S. investment bank Bear Stearns (Bear Stearns) and Lehman Brothers (Lehman Brothers), so the employment of graduates of business schools has become particularly severe . This from Bloomberg Business Week rankings in 2010 full-time MBA program can be seen. Let's see what happens: 2007 graduate of 3 months, the United States 30 top business schools, only 4% of graduates find a job yet. This data is currently increased to 12%, some schools are even more than 24%.
Even the top brand-name universities, now have lost the aura of the past graduates easy. Ranked first in the United States National Academy of the University of Chicago (Chicago Booth School of Business), for example, graduates and 9% after 3 months of graduation did not find work, and in 2007 was only 2.4% of the data. Besides third-ranked University of Pennsylvania Wharton School (University of Pennsylvania Wharton School), the employment rate of graduates has not increased for three months more than tripled, from 3.9% to 13%.
Students no longer rely on traditional campus recruitment program. According to MBA Career Services Council (MBA Career Services Council) data, business school career services department found that more than 40% of the number of campus recruitment this spring was significantly reduced. Even if a company to schools in recruiting, hiring their positions are only 2-3.
According to Bloomberg Business Week survey, all surveyed MBA entry salary decreased by almost 6%, from an average of $ 104,500 in 2008 to this year's average of $ 98,400. More than half of workers surveyed expressed concerns about the job market. Top 17 from the UCLA Anderson School (UCLA's Anderson School of Management) of the 2010 graduates (Tyler Fenelon), said: "I had to expand my job search, I will consider before I never considered the work of the industry. "
Business schools are actively looking for students who want to be on campus to contact the company's new approach. In the past two years, the National Academy of the employer company outreach team has increased from 2 6. Last summer, the outreach team ran more than 350 companies, compared to just 100 in 2007. In this regard, the National Academy of vice minister of career services department, said: "We now have more than a few years ago the business linkages. The past, we tend to build links with business enterprises in the campus recruitment. And now when a taken into account in hiring Booth to Booth campus recruitment or simply to contact with students, we will establish a deeper contact with. "
Business School students have also organized together with the recruitment company dialogue. April, from including the University of Michigan Ross School of Business (Ross School of Business), Johnson Business School (Johnson Graduate School of Management) and the Mendoza College of Business (Notre Dame's Mendoza College of Business) College, including 128 7 students came to San Francisco for a day of "Bay Area MBA recruitment (A Day in the Bay MBA Interview Forum)". The job fair will be gathered in the 36 San Francisco Bay Area companies, including eBay, Electronic Arts (Electronic Arts) company. The activities of the company they do not need to tour the campus and each school can recruit elite MBA dialogue.
Recruitment of students and high-tech companies also make contact more convenient. Kellogg School at Northwestern University (Kellogg School of Management) (ranked fourth), SKype is to find students are very familiar with the work of a tool. International investment bank Houlihan Lokey (Houlihan Lokey) hiring manager Cynthia Bush (Cynthia Bush) said: "The video interview provided to the students more opportunities." Startup Ze-gen is responsible for Gideon, vice president of business development恩格兰德曼 (Gideon Gradman) also said that the technology for those who admit a small amount each year MBA is particularly important for companies. "Although this can not entirely replace live interview, but for those of us small and Buxiang recruitment geographical constraints extremely useful for companies."
Career services counselors recommend students not to limit the scope of the job search for a single function, industry or location. The end of September, the U.S. investment bank began its banking sector layoffs, a few days later, Morgan Stanley announced in 2010 to suspend its investment banking unit recruitment. In this regard, MBA Career Services Committee 席尼科尔霍尔 (Nicole Hall), said: "In the past, the total student internships and work their search for a single fixed at a specific range. Now the students have set a relatively flexible outlook, with two or three options, to enable them to pursue a more pro-active. "
For some students, the best option is to completely change course. See Brigham Young University in the Marriott School (Brigham Young's Marriott School of Management) (ranked 27) of 2009 MBA graduates of hard looking for work, Anthony Stryker (Anthony Strike) resolutely decided to give up the second academic year of study, began looking for work. 3 months later, he found a product manager. He said: "This is a very risky choice, but I think they chose the right."
Students volunteer to provide employment to help students in lower grades. In Chicago, 39 second-year MBA who served as the work of professional consultants. They are one to one communication with the first-year students share their internship and job search experience. Last spring, Kelley School of Business at Indiana University (Indiana's Kelley School of Business) (ranked 19), student leaders have also created an informal group: unemployed lone club. Each week, about 30 graduating candidates Kelley School of Business 2010 session will be eating pizza together, drinking beer, sharing experiences. Students who have found work as guides. One of the guide Shah Shah (Darshan Shah), said: "One began to feel very awkward, but after a few weeks, we saw the results, which gives us the students were closely linked."
Finally, we are pleased that there are signs that MBA job market is recovering. Health care and energy sector is increasing full-time job recruitment activities. University of Southern California Marshall School of Business (University of Southern California Marshall School of Business) (ranked 26) Professional Services Vice-Minister 彼得吉里奥尼 (Peter Giulioni) estimated 18 to 24 months the company will return to the traditional recruitment campus recruitment model. Perhaps the 2012 graduates will receive good news, but this year's graduates also have to face the harsh reality
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