Consultancies return to MBA hiring

The economic slump of the late 2000s may be over, but some sectors are still suffering from a skills shortage. One such sector is consulting. The shift towards a more analytical and quantitative approach to business has led many consultancies back to MBA hiring. Consulting companies cannot find enough managers with well-rounded skill sets who can understand how to leverage data and then translate it into an effective strategy. MBAs are often seen as the ultimate way of achieving this, due to the potential for a fast job at the end of two years' study.

According to the latest figures on LinkedIn, the most popular job at MBAs is still investment banking, where many graduates have had successful careers before returning to study. The second most popular sector among MBA graduates is management consulting, particularly strategy consulting and management consulting. Strategy consultants use data modelling to understand a client's business in order to help find ways of improving it. Management consultants are more like general business advisors, who can be hired by a number of businesses needing a broad range of skills and not just by companies in crisis.

MBA hiring has certainly evolved since the recession, with fewer short-term contracts being offered than before. Many graduates can now expect to spend an extended period of time at an MBA firm, helping build its team and possibly securing a dual role in strategy and business. This can be particularly attractive for those looking to advance their career. Returners have the advantage of already knowing the "company".

"There is no doubt that returners do have a leg up on new recruits because they know the 'culture' of the firm," said Sarah Ellison, editor-in-chief of The Economist Intelligence Unit's management consulting report. "But I think it's fair to say that most recruiters would agree that there is now far more parity between new recruits and returners than there was 10 years ago. In absolute terms, returners who have worked at the firm for a period of time are actually still in the minority."

Getting into an MBA program can be tough. Last year, Harvard's Graduate School of Business took the rare step of removing all its MBA recruiters from its campus. The move, which was intended to ease the recruiting process and encourage more students to apply to Harvard's executive MBA programs, appeared to backfire somewhat when some students accused Harvard of favouring one school over another.

"It's actually very difficult," said Larry Fitzgerald, professor and dean at Georgetown McCoy School of Business and former CEO of Deutsche Bank North America. "There's a lot of money floating around out there. Good schools are constantly trying to attract more students and are fighting to be in the top five or 10 schools."

He added, "The other thing I think is different now is that there are fewer jobs."

This is why many graduates remain reluctant to leave consultancies. Although there is no shortage of graduate job offers, currently only about half of the 65,000-plus MBAs in the U.S. work full time in consulting and other similar jobs. According to the EIU report, in 2009 just over 40 percent of graduates were working full time at an MBA job within six months of completing their degrees.

"Unemployment is still higher than it was in 2000," said Fitzgerald. "The economy is not as strong as some thought it would be. A great many companies have laid off people, including consulting firms, and there are a lot of people trying to get a job."

More MBAs may return to study after the economy recovers, but this will not just benefit big companies looking to ramp up their consulting forces. As the skills gap persists and MBA graduate vacancies remain low, many small businesses are being forced to take on unfit graduates with little experience or knowledge of the industry. Read more: http://www.forbes.com/sites/juliewarren/2012/03/14/consultancy-returns-to-mba-hiring-despite-the-economic-slump/#82b1df7a641e

MBA Career. MBA Career. MBA Career...

A career is a certain way to earn income in the future, usually for a certain number of years. There are many kinds of careers, one of which is the Management career or management (moderately popular). If you want to start a Management career, you will have to do some research to find out what kind of career suits you best. First of all, you need to consider your personality and your interests. For example, if you are a very active person, you will probably not be able to have a Management career in information technology. This is because it is a very relaxing job where you need to sit for hours in front of the computer doing the same task over and over again. However, if you are a programmer or just enjoy working with computers and software, an Information Technology career might be perfect for you. In order to succeed in your Management career, or in any other job for that matter, there is one thing that is necessary and that is passion. The more passionate you are about your work, the better results and experience you will get out of it.

Here is a list of some different kinds of Management careers:

Managing in the workforce or Labor careers

Managing in the military or Military careers

Managing financial assets or Finance Careers

For each career you might have different sub-categories, depending on what you want to do. But if you have a degree and get in a good company, the job opportunities will be endless. With some luck and an excellent performance at your workplace, you can advance your career very quickly. You can start off as a manager and move up to CEO (Chief Executive Officer) within decades. This might be one of the best Career choices for you.

Why should I consider Management careers? The most popular career path these days is usually going from the bottom to the top, from the intern to the managing manager. More and more companies are hiring relatively inexperienced people with MBAs and post-graduate degrees, which makes this a very good career choice for those who have already graduated.

The amount of money that you can make varies depending on where you work and your role in a company. There are many jobs available in management that pay much more than other careers, such as programming or working as an engineer.

Conclusion: The Management career is one of the most flexible careers out there. It can fit into your schedule and you can choose how to spend your day. If you are passionate about it and have a lot of ambition, this career path might be perfect for you.

Definitions of the word "career" in various dictionaries:

Career - A chronological series of important jobs or positions held one after the other, the sum total of which forms the basis of an individual's reputation or influence.