Business School Job Recruiting Is Down In 2009

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Scads of graduates will be leaving business school this Spring with their Masters in Business Administration (MBA) degree in hand but maybe not much else. Job recruiting at business schools across the country is way down this year, suggesting that it’ll be a tough go of it for many when they finish school this May.

job interviewThe Wall Street Journal ran a story  (Recruiting Drops at Business Schools; page B4; Monday, February 9, 2009) featuring a survey by the MBA Career Services Council, an assocation of business-school career offices, where they asked 77 top business schools in January about employer recruiting on campus.

Highlights of the council’s survey included the following points:

  • 56% of career-services officials said on-campus full-time recruiting was down more than 10% in winter. Only 12% estimated that recruiting was down in the fall.
  • 46% of career-services officials said full-time postings were down more than 10% in winter, versus 19% in the fall.
  • 62% predict internships (outside investment banking) will be down at least slightly, versus 31% in the fall.
  • About 50% of career offices said job postings were down more than 10%. 20% said activity was down more than 20%.
  • Fewer than 5% of career-services officials reported any increased recruiting activity.

The drop in the hiring rate has been most notable at top notch business schools such as Carnegie Mellon’s Tepper School of Business where 61% of the upcoming grads had accepted job offers by January. This compares to 81% at the same time as last year.

Other Options For MBA Grads

For MBA students with just a few months to spare before graduation, other options for work are still available. Among them are:

Starting their own business. Some grads are planning to team up with other grads to launch their own businesses. This may include securing consulting gigs which could turn into summer internships followed possibly by a job offer later on.

Reviewing other sectors. Upon starting their studies, most students saw themselves working in finance or a similar sector. Given that many of these job prospects have dried up, college career offices are encouraging grads to explore several lower paying sectors which are are seeing an increase in recruitment activity. The MBA Career Services Council says that these include health care, alternate energy, nonprofits and government.

One thing working in the favor of grads is that some companies are short staffed right now and are will need to add staff before the economy recovers. The last time we had a recession, quite a few companies were caught off guard when their thin management ranks could not keep up with increased customer demand.

Adv. — Don’t let the recession keep you down! If you have are looking for the right tools to make it through difficult times, then SayRecession.com has what you need, when you need it. Free and easy to use!

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