The MBA job market is stronger than ever, equaling or topping the peak years of 1999 and 2000, according to a new report.
WetFeet Research & Consulting, in its eighth annual State of Student Recruiting survey, said students are receiving more offers, with more than two-thirds of MBAs reporting that they received multiple offers this past year, and 83% of MBAs reporting that they had accepted an offer by the time of the survey in April and May. In 2005, 80% of students reported accepting offers by that time.
"This means that employers can't just show up on campus and expect to make some good hires," says WetFeet President Steve Pollock. "They really have to bring a strong, dedicated recruiting effort to attract top students."
After surveying 3,055 undergrads and MBAs at top-tier programs around the U.S., the firm ranked the most preferred employers. The top five were McKinsey & Co., Goldman Sachs (
GS ), Bain & Co., Google (
GOOG ), and The Boston Consulting Group.
It appears that MBAs had higher expectations than the offers they received this year. On average, MBA students reported that they expected to receive a base salary of $98,650. From data collected, the average offer received was $95,781. "I do fear that the strong market will start to fuel a sense of entitlement among candidates," says Pollock.
Case Western Dean ResignsMyron J. Roomkin, dean at the
Weatherhead School of Management at Case Western Reserve University in Ohio, has stepped down after less than two years on the job. He will resume teaching and research in the department of management and policy studies at the school.
Roomkin is the sixth person in the past eight years to have held the position of dean, interim dean, or acting dean at the school. Scott Cowen held the dean position for 14 years before leaving to become the president of Tulane University in 1998.
"I was attracted to Weatherhead and Case Western Reserve University for its great potential, its faculty and programs. I am confident that my successor will be able to continue to move the school forward," Roomkin said in a press release.
Over the next few weeks, Case Western Provost and University Vice-President John L. Anderson will work with a committee of Weatherhead faculty members to appoint an interim dean and to conduct a national search for a new leader for the school.
"Dean Roomkin managed the school through a challenging financial period, and we are grateful for his leadership," Anderson said.
Before joining Case, Roomkin served as dean of the Kogod School of Business at American University. Prior to his tenure at American University, he rose through the ranks of the J.L. Kellogg Graduate School of Management at Northwestern University from 1976-1998, where he built an international reputation as a leader in business-management school education.
Kellogg Launches Exec Refresher CourseNorthwestern's
Kellogg School of Management is offering a new three-week executive program for experienced managers with MBA degrees. The Kellogg Renaissance Program is designed exclusively for midcareer managers who earned MBA degrees before 1995.
Professor Stephen Burnett, associate dean of executive education, says that the program will focus on material MBA students did not see in 1995 classrooms. He said staffers are looking at notes and course outlines to identify concepts, tools, and best practices that today are considered essential, but were not a part of the classroom a decade ago.
"MBAs tend to believe that they've already been exposed to everything there is to know about business," says Burnett. "This is simply not the case."
In addition, Burnett says the implications of leadership research and thinking for a 40-year-old manager with 10-plus years of experience are very different than for 28-year-olds just starting their careers.
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