Companies Compete for MBAs
The Wall St Journal Online recently ran a piece about the hot competition for MBA grads and the subsequent revamping of on-campus recruiting techniques. They claim that “it’s a seller’s market out there…At a time when career opportunities are so plentiful that students can afford to turn down even six-figure offers from investment banks, it is especially difficult for traditional manufacturers to make an impression.”
Some of the tactics traditional companies are using to move beyond the “dinosaur” of MBA on-campus recruiting include:
*virtual recruiting, especially finding an engaging way to answer students’ questions quickly
*visiting business schools earlier and more often
*forming relationships with top prospects through intimate events such as small group dinners
*shortening the timeline between extending an offer and closing the deal
Of course, salaries are also increasing as a result of competition. “About 69% of recruiters in the Journal survey said their companies increased starting pay this year. Nearly a third of the survey respondents said they offered salaries of more than $100,000, up from about 24% last year and 17% in 2005.”
Read the entire article here.
