IESE: Capitalizing on a Hot Job Market

Alex Herrera became career services director at the University of Navarra IESE Business School in September, 2005. A telecom engineer and 1997 IESE MBA graduate, Herrera spent eight years with EuroPraxis, an international strategy and management consulting firm, before returning to IESE.

Herrera says this year's graduates will enter a hot European job market, which recruiters expect will be sustained. Herrera recently conducted an e-mail interview with BusinessWeek Online reporter Jeffrey Gangemi. An edited transcript of the exchange follows:

How has this recruiting season compared to last year?
To give you some background, 87% of our graduates had found a job at graduation, and 98% had found a job within three months of graduation. Average starting salary was $96,000, and the average bonus was $23,000. From what we can tell at this early stage, this year's recruitment looks likely to be at least as successful as last year's (see BW Online, 12/30/05, "A Heady Job Market for MBAs"). Banking and consulting companies, which make 60% of all job offers at IESE, are approaching us with even more intention to hire than last year. Also, industries like pharmaceuticals, high tech, and real estate are vying for more attention from students.

Do you see the strong market continuing into the future?
Predicting the future is always difficult. Nevertheless, when I have spoken with recruiters, the near future they describe is optimistic.

When do students start their career search at IESE?
Those in our two-year MBA program start working on their structured career management program from the first day they arrive on campus. Far more than a simple job search, this program challenges students to really think about where they want to be, considering the academic demands of the course and the experience gained from two years on campus in Barcelona.

These activities are aimed at helping students to develop the skills necessary to proactively manage their professional career. It is obviously of utmost importance that graduates find the right job after finishing their MBAs, but this is just the first step in their future professional development...

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