Technology companies become magnet for MBA students [Financial Times]

Written in collaboration with an interview with Beat Bà ¼hlman, managing director of Global Product Development at Hult International Business School, for the Financial Times Technology companies become magnet for MBA students. Last year at two high-ranking business schools on opposite sides of the Atlantic, careers officers were looking at an interesting trend in MBA recruitment. At London Business School, the number of those who joined technology companies for the first time eclipsed those who joined banks. And at Stanford Graduate School of Business, numbers joining technology companies soared for the second successive year. At LBS, Amazon led the charge and snapped up 11 MBAs from the class of 2013, outpacing Citi’s hire of eight. The second-biggest corporate hirer, Google, which recruited seven MBAs, took on more than the second-ranked bank, which was HSBC with five. â€Å"It’s the first time we’ve had a technology company hiring a greater number than an investment bank,† says Lara Berkowitz, executive director of career services at LBS. At Stanford, known for its close ties to Silicon Valley, 32 per cent of the class of 2013 chose a job in technology, against 24 per cent in 2012 and only 13 per cent in 2011. â€Å"What you’re seeing is part of a historical shift,† says Vic Menon, data and web manager in charge of employment reporting and analysis of job trends at Stanford. â€Å"There’s very strong student interest,† adds Maeve Richard, assistant dean and director of Stanford’s career management centre. â€Å"At the same time these companies are growing more complex and they realise they do need MBA talent.† The development at LBS and Stanford is supported by a global student exit survey published by the Graduate Management Admission Council last week. It found that technology is emerging as a promising destination for business school graduates, with 61 per cent of students seeking work in that sector reporting early job offers and accounting for 15 per cent of all students with early offers. Careers advisers say a number of factors could be driving MBAs towards technology companies and away from the traditional, coveted jobs in banks and consultancies. â€Å"The size of the bank [induction] programmes is certainly smaller and the interest in students has gone down commensurate with that,† says Ms Berkowitz. â€Å"If you take away job security and promotion [which used to make banking look good], the alternatives become more attractive,† adds Steve Dalton, senior associate director in MBA student services at Duke’s Fuqua School of Business. Money is also part of the puzzle. Cash remuneration from technology roles has â€Å"converged† with that offered in finance and consultancy roles, according to Ms Richard. However, salary is not the only draw. â€Å"People are excited about the company and the product – that’s the main driver, not the money,† agrees David Morris, assistant director, head of corporate sectors in LBS career services. But getting in is not easy. Competition for jobs and internships with companies such as Google, Amazon and Facebook, is fierce. The chances of securing a coveted internship are enhanced if the student attends a top business school: the large technology companies recruit on campus. The recruitment process is also more rigorous. This newer breed of employer is not only looking for solid technical skills – less tangible qualities are also important. Beat Bà ¼hlman, managing director of Global Product Development at Hult International Business School, was taken on to help redesign Hult’s MBA programme to better prepare students for this changing job market. If two similarly qualified candidates emerged at Google, â€Å"we would choose soft skills rather than hard skills†, says Mr Buhlman, who was previously in a hiring role at the tech giant. Flexibility is important, he adds, pointing to the Google Street View project. â€Å"When Google started this project it couldn’t hire someone who had this experience because no one had done it before. So one thing that Google is looking for is someone who is not afraid not to know what they will be doing in two years from now.† â€Å"We want students who can handle and are comfortable with ambiguity,† agrees Cassandra Young, MBA staffing consultant for Microsoft. Ms Young says Microsoft is looking for MBAs to help in its transition from old-style software company to a new-style devices and services group with brands such as Xbox. . . . Microsoft takes 75 MBAs a year on to its internship programme and recruits 300 students per year into full-time roles. Again, it is a considerable advantage to be attending one of the top schools. Ms Young says the company has an â€Å"on-campus presence† at 15 US business schools and recruits globally using an outside firm which targets top schools. But a top school is not essential. If someone manages to find her, she says, it shows they have a real interest in joining. â€Å"We are really looking for passion,† she adds. For students interested in joining new technology companies, the big names are not the only attraction. Mr Menon says that of the Stanford MBAs who joined technology companies in 2013, about 40 per cent went to large companies, 40 per cent to small and medium-sized companies and 20 per cent to start-ups. The latter might have smaller pay packages but they are often given equity in the business. Mr Menon says that two recent Stanford graduates made $1bn within two years of finishing school when the small technology company they had joined was sold. â€Å"We value MBAs for . . . the global approach that they can bring,† says Miriam Park, director of university programmes at Amazon. The online retailer, she adds, will be hiring hundreds of MBAs globally in 2015. This article was originally published by the Financial Times, Technology companies become magnet for MBA students. Beat Bà ¼hlman is the managing director of Global Product Development at Hult. Read about Hults groundbreaking new MBA curriculum and Hult Labs report findings on What Top Employers Want. Make the most of what your career has to offer with a Masters in International Business from Hult. To learn more, take a look at our blog Should you choose a Master of International Business or MBA program? or give your employability a huge boost with an MBA in international business. Download a brochure or get in touch today to find out how Hult can help you to explore everything about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .