Maeve Richard, an MBA career adviser at Stanford’s Graduate School of Business, will become director of its Career Management Center, filling the slot left by Pulin Sanghvi when he left for Princeton University in December.
Richard joined Stanford GSB in July and assisted 2013 graduates who were still undecided about their job search after classes had ended in June. By September, 90 percent of the 2013 MBA class had accepted a job offer, up from 88 percent in 2012. At $125,000, the median salary was unchanged from the year before; signing bonuses increased 25 percent to $25,000 vs. a year earlier.
“As I started meeting with students, I realized some of the information they were using to make their decisions was incomplete or anecdotal,” Richard says. She says students didn’t have enough information about lifetime earnings potential, or the long-term career implications of job choices made immediately after business school. As an example, she mentions private equity: “Students hear that it’s very lucrative at the exit, but it’s also a career path that may end in five to 10 years. What do they do after that?”
To answer some of those questions, Richard says one of her first priorities is to conduct an in-depth career study of Stanford MBA alumni. Within three to four years, she expects the school will have enough data to give students a better picture of the long-term career paths they might expect based on the initial choices made after graduation.
Stanford students have gravitated toward different industries in recent years. Technology companies hired 32 percent of the school’s MBA class in 2013, up from 24 percent a year earlier and 13 percent in 2011. Just 26 percent of the past year’s class took jobs in finance, vs. 32 percent in 2012 and 36 percent in 2011.
Under Sanghvi, the school developed what he called an EHarmony approach to career services, relying heavily on a personalized career assessment coupled with outreach to certain employers that may hire only one or two MBAs every few years. The approach moved away from a model where several corporate recruiters come to campus and hire large numbers of students at one time.
Prior to joining Stanford, Richard was CFO for Arteris, CFO and chief accounting officer for the Stupski Foundation, and held an executive position at Progress Investment Management. She has also held management positions at McAfee and JPMorgan.