The Stanford Business Reporter

I was hoping to become an investment banker (or consultant), but these firms have finished recruiting this year.  What should I do?  

I have a friend who graduated from the GSB in 1988 and he went into real estate.  The market tanked in the early 90's and he joined a small, family-owned company that runs high-end fitness centers.  That didn't work out either.  Four years after GSB, he joined Montgomery Securities as an entry-level analyst.  Today, he is a vice ­president.  His path to investment banking required a detour, but it eventually worked out.

Now is the time to decide on other jobs and industries that appeal to you.  Consider your interests, skills and prior work experience.  Develop an action plan to help you focus on an industry where companies are growing and have opportunities for MBA graduates.  Please come see us at the CMC and we can help you develop and implement your plan.

To get in the door at your desired company, don’t be afraid to start a level below what you expected or at a lower initial salary.  Once you start working, your opportunities will blossom.  By demonstrating your value on the job over time, you will be rewarded with opportunities to learn more, earn more and grow professionally. 

As the Rolling Stones' song goes, “You can't always get what you want…"   This may be hard to accept, but now is the time to develop Plan B.  The reality is that the investment banks and consulting firms are not hiring as many MBA's as in the past.  You could wait on the sidelines until the day (or year) they resume hiring, but it’s uncertain when that will be.  For now, focus on finding a job that interests you.  Stay connected and informed about the investment banking (or consulting) industry and be ready when that right opportunity becomes available down the road.

I have no idea what I want to do.

      You are not alone.  No one really has it "all figured out."

      Remember your application to Stanford?  What did you say that you would do with your MBA?  How would you change the world?  If you would like to review your pre-GSB inspiration, the Student Life office would be happy to provide you a copy of your essays. 

Many of you came to Stanford because you weren't like everyone else.  Take your uniqueness and push it to the limit.  Find or create a job that's just right for you.  Leverage your experience, your education, your interests, your contacts and your creativity.  Visit us at the CMC and we can help you get started.

If you can't decide what you want to do, consider all the things you don't want to do.  Think about your previous work experience, your classes, your cases, MTC’s, your interviews.  Write down the things (industries, functions, skills) you didn't like and why.  That's an important list…all the stuff you don’t want not do.  As a result, it will be easier for you to identify your areas of interest, which will help you target your search.

Your first job upon graduation will not be your last.  Ideally, your first job will be in line with your interests and desires.  But don't worry if it isn't.  You will learn more about your desired career path as you go.  Just take it one day at a time.

What if I don't get a job before I graduate?

      Most likely you will have a job offer or be close to getting one by June if you start taking action right away by doing the following:

1.     Have a clear focus on specific industries and jobs,

2.     Be well prepared to interview, and

3.     Constantly network and develop a growing list of people who can help you – now and in the future.

      Don’t be afraid to get started.  Finding a job can be a worthwhile learning experience.  You will grow personally and you will learn a lot about interesting industries, companies and jobs.  You will get a job if you diligently work the process.  It may or may not happen by graduation.

As long as you graduate with the knowledge, tools, confidence and motivation to get that first job, the right job will eventually come.  Last year, the CMC staff continued to help graduating students with their job searches through the summer and we are committed to support you, also.

I have already received an offer and know where I am headed.  What should I do now? 

Congratulations!  You are fortunate to be in such a position.  Now, share your knowledge with others who need your help.  Your fellow students would greatly appreciate if you became a mock interviewer, shared your interview and job search strategy and encouraged them in their own job searches.  Join the many leaders I have heard say, "My greatest satisfaction was being a part of other people's success."

With your job in hand, this is a great time to explore industries and careers that might be of interest to you in the future.  It’s unlikely that you will ever have the time to access the valuable information, resources and people that you have right now at the GSB, Stanford and the Bay Area.  Take advantage of your situation while you can.  We often hear alums return saying “I wish I had taken advantage of all the resources while I was at the GSB” or “I wish I had spent more time getting to know my classmates.”

How can the CMC help me?

At the CMC, our staff is very committed to helping GSB students with their career and job search process.  We have many resources available at the CMC, including advisors, workshops and many informational sources in the resource center.  Please stop by to learn how these resources can be instrumental in your search process.

 

Through some re-allocation of our current resources and by partnering with the CMC Committee, as well as clubs and individual students, we will increase our range of services in early 2002.  We intend to provide more personal advising resources by having our advisors specialize in specific industry sectors, by reaching out to more students, and by increasing the number of advising hours.  We will also be providing new on-line resources and information to help you prepare for interviews, perform your job search and gain more in-depth information on industries, companies and jobs.  You will hear more about these activities in January.

 

Some of you have specialized career interests and needs, and the GSB has experts dedicated to these fields.  We recommend that you visit the PMP for social sector opportunities, CES for entrepreneurial and venture opportunities, and MCP for communication training.

 

Our top priority in 2002 is corporate outreach.  More of our resources will focus on corporate outreach starting in January.  Due to the economy, it's particularly difficult to attract companies to recruit on campus.  Many of our traditional recruiters are not hiring.  Nothing we do can change that reality.  However, we still plan on contacting both historical recruiters and new employers to make sure that they send us any current MBA job openings for email distribution, job postings or videoconference interviews.  We will make every effort to convince these firms to do OCR in the spring.

 

As with all aspects of the GSB, maximizing our resources requires a collaborative effort between students and staff.  If you have recommendations for how we can serve you better, please let me know directly or through the CMC Committee.  We were excited that we could implement several improvements during the fall, including removing the OCR class blocker, based on your suggestions.

This year is much like 1990-91, the period of our last recession.  That's the bad news.  The good news is that those graduates are thriving and successful in their careers today.  No matter how challenging it appears today, your careers will be successful too.