Job Search in a Tough Environment
Murali Abburi, MBA2 and Andrew Hui, MBA2
Issue date: 10/29/01 Section: Features
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This year, one of the major concerns of the student body is job search. We’ve heard about how companies are rescinding or deferring offers, or how some firms are having hiring freezes. Here is some advice compiled from some students and from Uta Kremer, Associate Director of CMC, in an attempt to give our schoolmates a little help on job searches.
The Reality
First of all, students have to understand the reality that it is a tough year for job search. The number of companies recruiting on-campus has decreased quite dramatically because many companies have fulfilled their hiring needs from their summer internship programs already. A lot of companies are having job cuts or hiring freezes. Some companies will not even think about hiring people until the economic environment is better. So students have to be prepared that job search this year is going to take up a tremendous amount of time and energy.
On-Campus Recruiting
The number of positions available has dropped this year. Companies are increasingly looking for candidates who are truly serious and passionate about the companies. In fact, historically interviews are a weak part for Stanford students. Comments from recruiters, when comparing Stanford students to others, have typically been that Stanford students are smart but they don’t seem to want the jobs or understand the jobs enough.
As a result, preparation for interviews is ever more important this year. Uta suggests that students should spend 10-15 hours preparing for each interview. And obviously the preparation should not start just the day before. Students should research the Websites, literature and talk to classmates and alumni who have experience in the field. Doing mock interviews is also a good way to prepare oneself. Uta sited one example where a student did poorly in the mock interview conducted by an employee of a consulting firm, took the advice to heart, and ended up getting an offer from that same firm.
Independent Job Search
Historically, given Stanford’s small student population and students’ focus on jobs on the west coast, for cost-benefit considerations, many employers (especially those on the east coast or in the Midwest) do not come on campus. Since getting a job through on-campus recruiting is harder this year, many students will likely resort to independent job search. On one hand, it makes job search more time-consuming. But on the flip side, many alumni attest that independent job search is a good skill to have because after graduation, that’s almost the only way to switch jobs.
To make the job search successful, students first have to really think hard about what they want. Attending industry panels, reading career materials, doing self-assessment tests (especially the Career Leader test), and talking to classmates are some ways of more fully understanding one’s career interests.
After understanding the interest, students should establish contacts through industry functions and conferences. The alumni database and your schoolmates are also very good resources. They are usually very willing to help. Try to send them emails first and then follow up with phone calls later. Don’t be discouraged if it takes a long time for them to get back to you. They may just be busy or out of town. Keep trying.
Two tips on contacting alumni or ex-colleagues of your classmates though. One, the alumni who graduated within the past ten years usually tend to be much more helpful because they just went through this kind of process not too long ago. Two, once you get a contact from your friend, make sure you follow through. Not following through with contacts may make you less credible and your friends may become reluctant to help you in the future.
One last tip especially regarding jobs in high tech is that whether you get jobs from your contacts oftentimes will depend on your timing and luck. Many of these companies have very decentralized hiring system. Your friend may have contacted the same person or company but didn’t get a job simply because that specific department was not hiring, or because timing was not right.
On Switching Careers
Many people have come to business school to switch careers. However, switching career has become more difficult due to the lower demand for MBAs. That doesn’t mean that it is impossible to switch. All it means is that you have to be prepared that the process will be harder and more frustrating, and that many of your classmates (especially those who are pursuing industries similar to their pre-MBA jobs) may get jobs before you do.
To make the switch successful, planning is key. You have to understand why you want to switch and how you can sell some of your skills that are transferable to the new career. Also realize that doing a complete switch may be difficult. In that case, you may want to look for jobs that have components that are relevant to your dream job. For example, instead of jumping directly to a VC, you may want to first gain operating experience at a start-up, or work on financing for a start-up to see the other side of the picture.
Positive Attitude
Most important of all, you have to maintain a positive attitude. You got into Stanford for a reason. Most people did get jobs last year or this past summer. Some people from Class of 2001 are still looking not because they can’t get any jobs, but just that they are particular about what they want. So even though times are tough, try to maintain a positive attitude about your self, ‘cause that’s the only way the recruiters will have a positive attitude about you.
The above is just some of the advice we have been able to gather. If you have any other advice or stories to share, or if you have any questions or concerns, feel free to contact members of the CMC committee.
The Reality
First of all, students have to understand the reality that it is a tough year for job search. The number of companies recruiting on-campus has decreased quite dramatically because many companies have fulfilled their hiring needs from their summer internship programs already. A lot of companies are having job cuts or hiring freezes. Some companies will not even think about hiring people until the economic environment is better. So students have to be prepared that job search this year is going to take up a tremendous amount of time and energy.
On-Campus Recruiting
The number of positions available has dropped this year. Companies are increasingly looking for candidates who are truly serious and passionate about the companies. In fact, historically interviews are a weak part for Stanford students. Comments from recruiters, when comparing Stanford students to others, have typically been that Stanford students are smart but they don’t seem to want the jobs or understand the jobs enough.
As a result, preparation for interviews is ever more important this year. Uta suggests that students should spend 10-15 hours preparing for each interview. And obviously the preparation should not start just the day before. Students should research the Websites, literature and talk to classmates and alumni who have experience in the field. Doing mock interviews is also a good way to prepare oneself. Uta sited one example where a student did poorly in the mock interview conducted by an employee of a consulting firm, took the advice to heart, and ended up getting an offer from that same firm.
Independent Job Search
Historically, given Stanford’s small student population and students’ focus on jobs on the west coast, for cost-benefit considerations, many employers (especially those on the east coast or in the Midwest) do not come on campus. Since getting a job through on-campus recruiting is harder this year, many students will likely resort to independent job search. On one hand, it makes job search more time-consuming. But on the flip side, many alumni attest that independent job search is a good skill to have because after graduation, that’s almost the only way to switch jobs.
To make the job search successful, students first have to really think hard about what they want. Attending industry panels, reading career materials, doing self-assessment tests (especially the Career Leader test), and talking to classmates are some ways of more fully understanding one’s career interests.
After understanding the interest, students should establish contacts through industry functions and conferences. The alumni database and your schoolmates are also very good resources. They are usually very willing to help. Try to send them emails first and then follow up with phone calls later. Don’t be discouraged if it takes a long time for them to get back to you. They may just be busy or out of town. Keep trying.
Two tips on contacting alumni or ex-colleagues of your classmates though. One, the alumni who graduated within the past ten years usually tend to be much more helpful because they just went through this kind of process not too long ago. Two, once you get a contact from your friend, make sure you follow through. Not following through with contacts may make you less credible and your friends may become reluctant to help you in the future.
One last tip especially regarding jobs in high tech is that whether you get jobs from your contacts oftentimes will depend on your timing and luck. Many of these companies have very decentralized hiring system. Your friend may have contacted the same person or company but didn’t get a job simply because that specific department was not hiring, or because timing was not right.
On Switching Careers
Many people have come to business school to switch careers. However, switching career has become more difficult due to the lower demand for MBAs. That doesn’t mean that it is impossible to switch. All it means is that you have to be prepared that the process will be harder and more frustrating, and that many of your classmates (especially those who are pursuing industries similar to their pre-MBA jobs) may get jobs before you do.
To make the switch successful, planning is key. You have to understand why you want to switch and how you can sell some of your skills that are transferable to the new career. Also realize that doing a complete switch may be difficult. In that case, you may want to look for jobs that have components that are relevant to your dream job. For example, instead of jumping directly to a VC, you may want to first gain operating experience at a start-up, or work on financing for a start-up to see the other side of the picture.
Positive Attitude
Most important of all, you have to maintain a positive attitude. You got into Stanford for a reason. Most people did get jobs last year or this past summer. Some people from Class of 2001 are still looking not because they can’t get any jobs, but just that they are particular about what they want. So even though times are tough, try to maintain a positive attitude about your self, ‘cause that’s the only way the recruiters will have a positive attitude about you.
The above is just some of the advice we have been able to gather. If you have any other advice or stories to share, or if you have any questions or concerns, feel free to contact members of the CMC committee.