Infosys to Hire 200 New MBAs

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Infosys to conduct largest ever global MBA recruitment by an Indian company.

According to an article in The Economic Times, Infosys hasn’t hired MBA talent for four years now, but currently plans on changing that by hiring at least 200 MBAs from top b-schools around the world, in an effort to beef up its business consulting practice. This will be the largest ever global MBA recruitment by an Indian company.

According to Pascal Matzke, VP of Forrester Research, “Infosys realises it has a lot of great technical skills, but not business skills. This (hiring global MBAs) is to beef up business capabilities and skills so that they really can compete with the likes of Accenture.”

Business schools that Infosys is targeting include: HBS, Wharton, NYU Stern, Chicago Booth, UCLA, and Kellogg in the United States; London Business School, INSEAD, ESADE, Oxford Said, International Institute for Management Development (Switzerland), and Rotterdam School of Management in Europe; and NUS, Asian Institute of Management, Manila, Australian Graduate School of Management, Melbourne Business School, and China Europe International Business School in Asia-Pacific.

Infosys will also be hiring from the IIMs in India.

With new hiring strategies and improved employee engagement, Infosys plans on lowering its attrition rate which is one of the highest among top-tier firms (at 18%).

Click here to download your free copy of Focus on Management Consulting

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MBA Project Search: Matchmaking for MBAs and Businesses

Get the scoop on MBA Project Search!You got into b-school, graduated, and now you’ve got to pay back those loans. Enter Dan Mullaney, a McDonough grad and founder of MBA Project Search.

Listen to the full recording of the show to learn about MBA Project Search, its origins, how it functions today, and how it can help soon-to-be students and professionals live the lives they want to lead.

00:02:09 – The birth of MBA Project Search.

00:03:33 – All over the map: What makes MBA Project Search unique.

00:05:44 – MBAs only?

00:08:54 – What first year MBA students and top-level CEO candidates have in common.

00:11:02 – Free to post, free to peruse. When do I pay?

00:11:53 – Nice. Nearly 10,000 consultants in the database.

00:13:17 – Active matchmaking: The MBA Project Search process.

00:17:09 – What the future holds.

00:17:48 – Why a philosophy major went to Georgetown McDonough.

00:19:07 – Business School: Irrelevant or Indispensable?

00:20:15 – Dan’s tip for non-traditional MBA applicants (and all applicants).

Admissions Straight Talk Subscribe to Admissions Straight Talk in iTunes so you don’t miss any segments! Stay in the admissions know.

*Theme music is courtesy of podcastthemes.com.

Relevant Links:

•  MBA Project Search
•  MBA in Sight: Focus on Management Consulting
•  MBA in Sight: Focus on Finance

Related Shows:

•  CommonBond’s Story: A Revolution in Student Loans
•  Interview with SoFi Co-Founder, Daniel Macklin
•  Jeff Reid on Entrepreneurship
•  Business, Law and Beyond: An Interview with John Engelman
•  Which Schools are Good for PE/VC and VC-Backed Entrepreneurship

Subscribe to Admissions Straight Talk:

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How to Create an Effective Post-MBA Career Strategy NOW

Did you know that much of the foundation for securing a job post-MBA is laid even before you step foot into business school?

Watch the webinar now.

Learn how to jumpstart your career search when you view Career Strategy for MBA Applicants: What You Need to Know…and Do…Before You Arrive on Campus, a recording of a recent webinar that we hosted, presented by Ivan Kerbel, CEO of Practice MBA Forum. In the webinar, Ivan discusses concrete things applicants can do now to maximize their chances of a successful post-MBA career search later.

View Career Strategy for MBA Applicants: What You Need to Know…and Do…Before You Arrive on Campus on-demand now!

Click here to download the webinar.

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2014 Hiring Outlook Looking Good

Interested in a maters in management? Check out our interview with Sheryle Dirks of Duke's MiM program!

MiM Grads Seeing the Greatest Increase in Demand.

The most recent GMAC press release shared new data from the company’s Year-End Poll of Employers, including the following highlights:

• 72% of employers polled plan to hire b-school graduates, up slightly from this past year’s 71%.

• 87% plan on hiring direct-from-industry hires in 2014, up 5% from 2013’s 82%.

• The percentage of those who plan to hire master in management grads in 2014 also increased 5%, from 37% in 2013 to 42%.

• 87% plan on increasing (43%) or maintaining (43%) the number of hires in 2014 from this past year.

• 56% of employers plan on increasing annual base salaries for MBAs in 2014. 45% plan this increase at the rate of inflation and 11% plan to increase above the rate of inflation.

• 61% of employers plan on hiring MBA interns in 2014

• 85% of employers met or exceeded their MBA hiring plans for 2013.

Take-aways

While it’s not time to break out the champagne, these stats show a steady and solid state in employer recruiting of business graduates with basically marginal improvement in hiring numbers. Salary stats are pretty flat. Continuing a trend I commented on last year, masters in management grads are seeing the greatest increase in demand. For college seniors and early career applicants, that program could be a really attractive option. (For more info on Duke’s MiM program, please see Admissions Straight Talk: Interview with Sheryle Dirks.)

To me this report says that b-schools are going to have to pull back on tuition increases, which have exceeded the rate of inflation for years. If they don’t, they will kill the ROI that lay the golden egg called the MBA.

But for current MBA students and probably for this year’s applicants, ROI is positive, employers are hiring, and things are looking good. Just not yet ready for the bubbly or excessive exuberance.

View the recording of our free webinar: Career Strategy for MBA Applicants!

Linda Abraham By , president and founder of Accepted.com and co-author of the new, definitive book on MBA admissions, MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools.

Positive Employment Feedback from B-School Class of 2013

For essay tips for top b-school applications, check out our free special report!

90% of 2013 graduates were employed by September

In September, the Graduate Management Admission Council (GMAC) polled graduates in the b-school class of 2013 and found overall success when it came to finding jobs and valuing their degrees. Here are some highlights from the Global Management Education Graduate Survey:

• 90% of 2013 graduates were employed by September. By world region, U.S. respondents fared the best with 95% employment; this is followed by 92% of Latin Americans, 87% of Indians, 85% of Asia-Pacific citizens, and 82% of Europeans. 92% of full-time, two-year MBA alumni were working at the time of the alumni poll – the highest level since the class of ’09.

• In 2009, only 84% of respondents were employed by the September following their graduation; in 2012, that figure was at 92% (slightly higher than this year).

• 74% of those queried said that they would not have gotten their jobs without their business degree.

• 15% of class of 2013 grads entered the technology sector, compared to 12% in 2009.

• 5% of 2013 alumni reported that they were entrepreneurs or self-employed.

• An eye-popping 96% of 2013 grads declared that the value of their business degree was “outstanding, excellent or good.” This is comparable to past years.

• Median full-time salary for two-year b-school grads (U.S. citizens) in 2013 was $90,000 with additional compensation/bonus of $10,000; for Indian citizens in this category, the starting salary was $34,988.

• For citizens of European countries who graduated from full-time one-year programs, the median starting salary was $101,093.

• Median part-time salaries for U.S. citizens came in at $85,000.

See the GMAC press release, “Nine Out of 10 Class of 2013 Business School Alumni Employed, Poll Finds,” for more info.

Takeaways

The #1 lesson from this data (and the Forbes ROI ranking) is that reports of the MBA’s demise are greatly exaggerated. There are very few initiatives, educations, or projects in life that get the kind of approval ratings and can report the kind of results that GMAC is reporting here. Now is it possible that the 915 responses are somehow positively biased? Yes, but GMAC had a healthy 19% response rate and sent questionnaires to graduates of 129 business schools including the 10% that report they are not yet employed.

For the first time, GMAC also studied entrepreneurs (5% of the class) and asked about their plans. However, the interesting entrepreneurial data from my perspective was the entrepreneur’s view of the MBA. 87% reported that “their education provided them with the essential knowledge, skills, and abilities to develop their business.” Given the small sample size (approximately 46 MBA entrepreneurs), I’m not sure this is quite as compelling as the other data, but it does give an indication that MBAs find their education valuable in an entrepreneurial setting.

Is the MBA a great investment for everyone? No. Poets & Quants recently ran an article on a new book, The MBA Bubble by Mariana Zanetti [Disclaimer: I have not read the book]. According to P&Q and the comments Zanetti posted on P&Q, she acknowledges she went to business school for the wrong reasons and now she has written a book claiming that the MBA is not worth the money and time it requires.

For some people and some business schools, she’s right. For others, she’s wrong. It’s up to you the applicants to make sure that you apply to programs that will help you achieve your professional goals with a strong likelihood of positive ROI. If you do, chances are high that you will graduate into the happy 90% of employed and the 96% of satisfied b-school grads.








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Stanford GSB’s Huge Payouts

Stanford

Stanford

Stanford’s class of 2013 employment report reveals some serious success for recent GSB graduates with a reported median base salary of $125,000. While this amount is unchanged from last year, the big increase occurs at the bonus level with median signing bonuses and guaranteed bonuses up $5,000 each, to $25,000 and $30,000 respectively.

A Poets & Quants article provides the following stats on Stanford’s employment data:

• 18% of class of 2013 grads became entrepreneurs, compared to 13% in 2012.

• 77% of students had job offers by graduation, down only slightly since last year’s 78%.

• 94% had job offers three months after graduating, up slightly from 93% in 2012.

• Graduates with jobs in private equity earned the highest average base salary at $157,696. This is followed by those with jobs in hedge funds ($151,111), then venture capital ($147,500), and then those with jobs in management consulting ($132,855).

• The lowest salaries went to MBAs with non-profit jobs ($85,050), followed by those in real estate ($108,750), and those who took retail positions ($110,294).

• The highest hitters this year include an analyst position in private equity ($225,000), a strategist in the media/entertainment industry ($225,000), and a hedge fund portfolio manager ($200,000).

• The highest signing bonus (of $100,000) went to an MBA entering a private equity firm.

• The lowest base salary (of $40,000) went to a graduate who took a job in consumer products/services; the next lowest (of $54,000) went to someone with a tech position in a media/entertainment company. (This latter person presumably received equity in exchange for a lower salary.)

• 32% of the 2013 class went into technology with an average base salary of $117,408. Last year, only 24% of graduates took jobs in this industry.

• 26% of grads took jobs in finance, a drop from last year’s 32%.

• 19% of 2013 graduates landed consulting jobs, down from 20% in 2012.

See the P&Q article, as well as this Biz Journals article, for more details.






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Learn How to Develop a Strategic Post-MBA Career Plan!

Do you need help organizing your post-MBA career strategy?

We’ll be giving out free advice on how to develop a winning post-MBA career strategy on Wednesday, November 20, 2013 at 10:00 AM PST/1:00 PM EST/6:00 PM GMT during our new webinar, Career Strategy for MBA Applicants: What You Need to Know…and Do…Before You Arrive on Campus.

Sign up for the Career Strategy for MBA Applicants webinar!

The webinar will be presented by guest speaker Ivan Kerbel who will offer advice on how to create a solid post-MBA career strategy, as well as provide an overview of options and opportunities with regard to pre-MBA travel programs, employer events, internships, and conferences. There will also be time for question during the webinar.

If you haven’t signed up yet, then you should do so now, before our virtual seats fill up!

Reserve your spot for Career Strategy for MBA Applicants: What You Need to Know…and Do…Before You Arrive on Campus now!






***
More about Ivan: Ivan Kerbel has led the Career Development Office at The Yale School of Management and served previously as part of the Wharton MBA Career Management team. He is also a Wharton MBA alumnus and a former management consultant.

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Creating an MBA Career Search Strategy – A How-To Webinar

Sign up for our career strategy webinar!

Are you seeking professional advice on how to develop a strategic post-MBA career plan?

If so, then you’ll want to attend Accepted’s upcoming webinar, Career Strategy for MBA Applicants: What You Need to Know…and Do…Before You Arrive on Campus, in which Ivan Kerbel, CEO of Practice MBA Summer Forum, will present important advice on how you can jumpstart your MBA job search…even before you get to b-school.

Mark your calendars! The webinar will air live on Wednesday, November 20, 2013 at 10:00 AM PST/1:00 PM EST/6:00 PM GMT. See what time that is for you by clicking here.







The webinar is free but you must register. Sign up here: Career Strategy for MBA Applicants: What You Need to Know…and Do…Before You Arrive on Campus.

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Salaries Up for Berkeley Haas Class of 2013

Check out our UC Berkeley Haas application essay tips.

Salaries are up for Haas grads.

An optimistic article on the Berkeley Haas website discusses the strong hiring market for its most recent graduating class.

Here are some stats from the report:

• 95% of the class reported that they received job offers by or within three months of graduation – this is the same as last year.
• The average salary for the class of 2013 increased from $116,045 last year to $117,735 this year.
• The median salary increased from $115,000 last year to $120,000 this year.
• The top three hiring firms, McKinsey, BCG, and Deloitte, hired 23% of the class.
• One-third of the class took positions at tech companies like Google and Autodesk.
• 18% of the class went into finance.
• 11% of the 2013 class took positions in the energy industry, up from 7.5% in 2012.

See the Berkeley Hass article “Hiring Market Strong, Salaries Up for the MBA Class of 2013” for more info.






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MBA Internship Recruiting Starts NOW

MBAInternshipRecruiting

No time to relax.

Long gone are the days when b-school students could arrive relaxed on campus in September, spend the first few months acclimating to students life and thinking about what they wanted to do in the future, and then finally applying for internships in January.

Now, students barely have time to catch their breaths before internship recruiting begins on campus.

A Businessweek article, “The New MBA Internship Recruiting Season Is Now,” addresses the pros and cons of an earlier recruiting season.

Here’s the breakdown:

PROS:

• Students get a real winter break, without the pressure of applying for internships.
• Early recruiting means that students and recruiters get more time to determine if they’re right for each other.

CONS:

• Students need to know what they want to do almost immediately after starting school and don’t get to use those first few months of school to explore their options.
• Students run the risk of committing to the wrong internship when they feel pressured to accept a position early on in the game.

Not everyone is jumping the internship gun. Some schools (like Stanford) don’t allow recruiters on campus until six weeks after school begins. And some companies understand that rushing isn’t the best way to get the best candidates and are taking their time as well.

See the BW article for more details.

Whether early MBA internship recruiting is good or bad can clearly be debated, but the reality remains that recruiting has moved earlier. You need to be ready when you arrive on campus. “Ready” means you need to know where you want to end up after your MBA in order to pursue the right internships. Does that statement sound like something you’ve read on this blog before? It is.

Your post-MBA goal is not just some nice sounding verbiage you create out of thin air for application essays. It’s the purpose that should animate, motivate, and propel your entire application process.

When you have that kind of purpose driving your application, you’ll be ready for the internship search whenever it starts.







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