Regional Focus
North america
“The credit crunch hasn’t had the same employment recruiting year, for both internships club has over 150 members.
impact on Canadian hiring that it did in the US and full time employment, but the economy This is probably a generational
job market and we’ve been fortunate that our seems to be slowing. This means students may phenomenon. Millenials, now the key business
2008 placement rate has continued to track ahead have to put a little more effort into their job search school demographic, are clearly more socially
of the results for our May 2007 class, a group that for the coming year. Many schools, including the conscious than the generations that have
achieved a placement rate of 92%. We’ve heard Johnson School are encouraging their new preceded them. They volunteer more and are
from a small number of candidates that the credit students to begin Career Leader, a career more interested in social entrepreneurship.
crunch has influenced their MBA decision, but counseling and self assessment program, before “This year, there are several ‘hot areas’ that
most candidates instead use personal factors like orientation, so they can hit the ground running experienced a nice uptick in student interest,
the desire to switch careers, or develop a new when companies arrive on campus this fall.” most notably energy - clean tech, renewables,
skill-set as primary motivators to pursue an MBA,” alternatives. We also noticed significant increased
says Niki Healey, Director of MBA Admissions New career destinations student interest in Leadership Development
& Recruitment at the Richard Ivey School of North America is also seeing a shifting trend in Programs, which had seemed to fall out of favor
Business, in London, Ontario. career destinations. Several years ago IT firms for a few years but are definitely back on students’
“Employment of MBAs is an expensive were the fashionable place to work. When the radars now,” says Allyson Moore, of Yale.
proposition for corporations,” says Richard E. Internet bubble burst, traditional MBA career For schools with programs that focus on
Sorensen, chair of the board at the accrediting destinations, such as finance and consulting, such issues, the trend is a blessing. “The fact that
agency AACSB International, confirms. “When returned to the fore. They have receded again, the Millenials are largely interested in social
the economy slows, MBA recruitment is an area with the financial crisis, and the big career trend entrepreneurship has been a real boon for UCLA
where companies cut back. However, here in the at present seems to be towards social Anderson. We have seen an increasing number
United States, the number of recruiters on entrepreneurship. “It is definitely a growth area,” of applicants who possess a strong track record of
campus over the past two to three years has been confirms Peter Guilioni, executive director of the involvement in the community and a genuine
increasing.” MBA Career Resource Center at USC Marshall, interest in pursuing careers that allow them to
Many career offices agree that students in Los Angeles. “We are seeing significant growth in give back to society in a demonstrative way. Our
recent years have become savvier and more student interest in the public sector and non- Price Center for Entrepreneurship has become
flexible in choosing their post-graduate careers. profit space. It is a nod to the sense of social a focal point for many prospectives who are
This, along with re-doubled efforts at career responsibility that is a very real part of how these interested in the public and not-for-profit sectors
offices, has reduced the effect of the credit crunch students view their post-graduate careers.” At and who view the Unversity and the City of Los
on recruiting. Ann Richards, at the Johnson Columbia Business School, a school noted for its Angeles, in which 98% of firms employ fewer
School at Cornell says: “We had a good strength in finance, the social entrepreneurship than 100 people, as a natural destination.”
Other schools are re-jigging their
programs to respond to this new demand.
“Thinking about business as a transformative
force for social change is a critical part of our
mission at NYU Stern,” insists Thomas Cooley,
Dean at the New York University Stern School
of Business. “Through programs including our
student-run social venture fund and our Stern
Consulting Corps, we provide our students
with innovative outlets in which they use their
business skills to make a real and lasting
difference in the New York City
community.”
With the recession getting worse, many
will take the opportunity to re-skill and get an
MBA. Getting in to one’s program of choice
will be more challenging than ever, with rising
application numbers. Getting recruited at the
end of one’s MBA is going to remain a
challenging proposition over the next couple
years as well. But there are upsides to the crisis
as well. As Stefanie Slade at NYU says:
“NYU Stern is experiencing a healthy
recruiting cycle, and our graduating students
are securing jobs at nearly the same high rate
as in years past. The current climate has
actually opened doors of opportunity for a
number of smaller firms to recruit on campus
this year - providing exciting job prospects for
students who may not have otherwise been
aware of them.”
times Square, New York city
80 TopMBA CAreer Guide www.topmba.com

TopMBA CAreer Guide www.topmba.com 81
MBA_SPR09_pp_052-155.indd 81 17/2/09 15:29:36
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