Showing posts with label MBA job search. Show all posts
Showing posts with label MBA job search. Show all posts

Tuesday, March 11, 2014

CEOs when they were MBA students

I was going through No Debt MBA's entries yesterday, and found a link to this interesting article.

Fortune 100 CEOs: When They Were MBA Students

And just like No Debt MBA, I found inspiration in Pepsi CEO Indra Nooyi:

Nooyi recalled how she was virtually broke in her first year as an MBA student. “Those were very tough times.,” she said.  “At the end of the month, if I saved $5. I thought I had died and gone to heaven. I was totally and complete broke. I had no money to buy clothes. Nothing. Absolutely nothing. I worked the front desk of Hadley Hall from midnight to 5 a.m. at $3.35 an hour, the minimum wage. That money was the grocery money for the week.”

I read a case on Indra Nooyi last quarter, and her story is a definite must-read. She chose the night shift because it paid an extra 50 cents an hour. She didn't have the money to buy a well-made suit so she bought one from a discount store, and wore orange snow boots to an interview (and got rejected). A professor advised her to wear a sari for the next interview (BCG), saying, "if they can't accept you in a sari, it's their loss, not yours." She got the job.

One quote of hers that strikes me: "I am so secure in myself, I don't have to be American to play in the corporate life."

(Reference: International management: managing across borders and cultures. H. Deresky. 8th ed.)


Tuesday, October 22, 2013

Case Interviews

When I entered b-school, case interviews was one of the topics that was part of orientation (read: something that we had to learn asap).

Case interviews have been the norm in the consulting industry, but other companies are now adding cases to their MBA internship and full-time interviews. Amazon, for instance, conducts back-to-back case interviews with MBA students. (Example: Tell me whether there are enough trampolines in stock in this warehouse.) Case interviewing is actually a useful skill to have, if only because of the frameworks that can be applied to typical business problems.

Click this to see a sample case interview, from executiveboard.com.

I have gone through mock case interviews as a first-year MBA student, and have gone through zero actual case interviews in my internship search. Now that I look back upon it, I have been lucky having had only behavioral interview questions, though I must admit that I feel that I haven't had the full MBA experience when it comes to interviews.

Case interviews are pretty stressful, especially when you're not used to them, and my classmates who have gone through them say that it really helps going through case interviews with a second-year or one of your classmates. Sample case questions are related to:
  • Pricing (ex. What is the ideal price for Amazon Prime membership?)
  • New Market Entry
  • Growth
  • Mergers and Acquisitions
  • Increasing Profits
You get the drift. 

You have papers on which to organize your thoughts (and which the interviewer may ask to keep), and can ask as many questions as you want from the interviewer after a significant pause and a brief summary of how you understood the case. You have to appear in control -- not nervous or rattled. Whatever your answer is, you can expect the interviewer to find reasons why you should have chosen the alternative option. Practice really helps since your mind is able to jump into case frameworks more easily.

Case interviews are mostly challenging, but can be fun to those who like this kind of interview stress.

Friday, August 23, 2013

What (MBA) Grad Schools Won't Tell You

So I found a recent article on this topic on Yahoo! Finance, and thought that some of the points raised will be useful to you guys. I'll mention those with corresponding comments.

(For the full article, please click here.)

Expect empty seats, but you'll still be competing with the whole world to get in.

Now, this article is addressed to Americans, and states that fewer Americans are going to grad school. International students take the place of domestic students, but there have been reports that even international student enrollment - especially in MBA courses - is declining.

According to a BusinessWeek article, this could be attributed to better local educational options (such as the universities in India), currency exchange rates, and visa issues, among others.

So, if you're interested in applying to the US, there seems to be a lot less competition these days.

Grades alone won't get you in.

Work experience matters. A lot.

Sure, you can graduate at the top of your class from the Ateneo and jump straight to grad school, but if you want to apply for jobs in corporate America, they'll be wondering what you can bring to the table. Also, you'll be overwhelmed with all the class discussions where everyone else is mentioning how this or that happened at their previous job. And what can you say to that?

If you've had any volunteer experience that could be construed as work experience of some sort, then better mention it in your application.

Our second-tier status may hamper your career -- and your pay.

I liked how the article put it:

"People considering graduate school who don’t want to attend or can’t get into or afford a brand-name school should look for schools with notable alumni in their industry, says Bardaro. Such alumni might bring cachet to a school that isn’t necessarily Ivy League, says Bardaro. And if the program has a strong track record of placing people in a certain industry, that could also boost the student’s chances of finding a well-paying job, she says."

It's the power of the (alumni) network.

That said, consider location. If you want a job in California after graduation, better look at schools in - or close to - California. Not saying that you can't get a job there if you go to Harvard or Darden, but the proximity just makes it easier come recruitment season.


It isn't our job to get you a job...

I think that's pretty clear enough.

Your coaches can give you as much advice as they think you need, but everything is still up to you. Don't blame your coach if you make the wrong decision with regards to the internship or full-time job you ended up with. Don't lay all the blame on career services if you couldn't find an internship or job. Hey, if you see red flags in the performance of your school's career office, then act accordingly. Be responsible for your decisions. Be responsible for your actions. (e.g. If landing a job in investment banking is that important to you, why didn't you choose a school that could help you do that?)

...And we fudge the stats on students who get jobs.

Ah, yes. This was pretty annoying to me too.

When you get into an MBA program, and it's peak recruiting season, you would see how many of your class would apply to just about any opening, as long as you get one. It's a symptom of despair and mounting panic.

So, yes, just keep in mind that when you look at stats - especially international student stats - those people might have just taken that internship or job because it was the best one available. For instance, I had a Chinese classmate who previously worked in GE Supply Chain, wanted to shift into Corporate Finance and had even taken CFA certification exams. He interned in Google. Google Supply Chain. Was that a bad decision? (Hello, it's Google.) He still wants to shift into a finance position, so I'll let you know what happens.

That's a clear example on the value of work experience, by the way. If all else fails, that's all you have to fall back on.


UPDATE (July 1, 2014): So what happened to my classmate who interned in Google? Google kept him hanging all throughout the year. They said he was in line for receiving an offer, and he never got a formal rejection notice from them. Yep, that sucks. He ended up interning for a VC firm after graduation, and accepting an offer for a supply-chain role with a manufacturing company. So... I guess he's still keeping the Finance dream alive?






Reference:

Tuesday, August 20, 2013

Back on campus, with a full-time offer!

Even with all the unpacking that I need to do, I can't help but be on a high as I ended my internship with an offer for a full-time job. It's really amazing how God sorts everything out.

The day before my last day in the office, my boss called me to her desk. She was really excited when she handed me the offer letter. See, there was this presentation* made to the CIO and IT directors (I worked in the IT department) by each of the MBA interns, and everyone was really impressed with mine. (I practiced a lot, and I have to say that my efforts really paid off. It also helps to make them laugh -- but in a good way.) The other interns had left the previous week, and the CIO wanted me to have my offer before I left.

My boss was so excited that she went through all the details of the offer, then asked me what I thought about it. I asked her, "What's the role going to be?" Hilarious. Anyway, the position was that of a business analyst, reporting directly to her. Since my boss is an IT director reporting to the CIO, I would be on the same level in the reporting structure as other managers reporting to my boss. I wasn't a manager, of course, which was fine by me. I don't think I'm ready to manage Americans.

The terms of the offer were, again, beyond my expectations. Beyond my wildest dreams!

High salary? Check. Sign-on bonus? Check. Fully-paid relocation expenses? Check. Bonus rent-free apartment for three months? Check. Area with relatively low cost of living? Check!

Okay. So I guess I can say that if I take the offer, I won't be living in sunny California or chic New York, but just look at that trade-off. Let's go to company specifics.

Multi-national? Check. Flexible times? Check! Great work/life balance? Check!

My previous work was highly stressful so being able to leave before 5 PM, or as I needed to, was very important. Also, it's great that there's no chance of being called on the weekend by a stressed manager. Sorry, Amazon, but working regularly until 8 PM (with a possibility of going all the way to 3 AM) isn't a job that I'd love.

Business casual office environment? Check. Good career advancement? Check!

With this company, MBAs usually rotate to another job after three years. MBAs are also given a wider scope of work, on the understanding that they are expected to perform better and be able to handle more. Women MBAs are given more attention, because of diversity needs. Sorry, guys.

Assistance with green card application? Check. Possible foreign assignment? Check!

Another thing I like about this company is that they can assign you to a role in one of their offices abroad. They take your needs into consideration too. So if I get homesick for Asia, I might just be given an opportunity to serve the company in Singapore. Maybe even Manila. Wouldn't that be nice...

Lest you think that I'm working for the ideal company of all time, let me say here that the position offered to me isn't that exciting of a role. I mean, how exciting can a business analyst position be? (As exciting as you make it, says my inner voice.) It's not that challenging or hair-raising as a product manager or consultant position, but at least it gives me time to have me time. Personal time. I like having personal time to do whatever I want. Who knows what amazing scheme I could come up with when I have enough time on my hands?

My career coach told me that it would be a good idea to compare offers first, before making a decision. So as great as this offer is, I haven't signed anything yet, and will be going back to the hunt. I'm just happy and grateful and thankful that I have one great offer in hand.



*Internship presentation - Typically, MBA interns present the results/recommendations of their summer projects, and answer the questions thrown at them by the executives, managers, peers who attend the presentation. Think you'll just be staring at the laptop screen during internship? Well, actually, that still happens.

**Note: I hope you don't think that I got the offer just because of my outstanding presentation. According to my boss, she (and the rest of the team) really liked how I was able to step up to the job and contribute immediately. I wouldn't have been able to "contribute immediately" if I didn't have the work experience that I have had. So to those who are asking, yes, it's really important to have that work experience component down before applying to your dream school. Really helps with landing an internship and getting through the internship.


Thursday, May 30, 2013

Internship!! Bow.

So it's been a week now since I started my internship with a multi-national US company.

I've moved to another state, dealt with storage issues, cleaned out my apartment and felt the rush of having steadier income once again, even if it's only for the summer. I cannot believe that I came to this country with two 23-kg suitcases and 1 bursting-to-the-seams carry-on, and now I have -- what, 15 boxes of stuff??? And that's not even counting the appliances, full suitcases and carry-on bag too.

I feel so blessed and fortunate to land this internship -- not every company offers its interns a housing and relocation package, and even cab rides to and from the office for those who don't drive. The apartment isn't shared, and is fully furnished. It's very spacious and is in a good location that if I had to search for an apartment, this would be way out of range for me. The salary I receive is also beyond my expectations. In short, this is my dream internship package, and I am so grateful to have it! (Thanks, Lord!)

How did I land my internship?

Well, I found it through our career services website. Aside from my resume, I have a customized cover letter for every application I make, which I then show my career coach for review. I have a list of interview questions that I practice my answers for -- my answers are usually stories from my work experience, and I follow the context-action-result format. I went through eight (yes, eight!) interviews, and received the offer the day after the last seven interviews. Amazingly, I did not have to flex my networking skills at all for this. I just asked my coach and some second-years for advice when it came to accepting the offer.

What advice can I give for the internship search?

Start early and do those mock case interviews. Have a shortlist of companies. Do whatever your career office tells you to do. Ask for advice and job leads from your coaches; they are paid to provide you with career advice so ask away. Go over your resume and cover letters as many times as needed. Ask help from second-years. Do those mock case interviews again. Networking can be a big help, but is not required. Finance and consulting positions typically open in the fall; a lot of other positions (including marketing) open in January. February and March are the months when most students have interviews, and receive internship offers. If you want to attend a major career fair, go to the one sponsored by the National Black MBA Association. For the minor ones, attend those in or near your school. And, finally, pray a lot and have lots of faith!



As of this writing, there are still international students in my class who have not landed internships. And they are smart, competent individuals -- which is why I feel really bad about their situation. I guess even if the US market is recovering and more jobs are opening up for MBAs, it really is much harder for international MBAs out there. Many companies who hire internationals as interns are already evaluating them for full-time positions, which means that these companies are of the kind that sponsor H1B visas.

Among my classmates who have not landed an internship position is one friend who spent the first semester flying out to Chicago and New York on weekends to network with alumni. He scheduled mock interviews and coffee chats one after another in a single day. Career services people say that this is how you do it if you want to land a job in investment banking. My friend received an offer for a corporate finance position back then, but he rejected it. Come second semester, he would be flown out to different states for face-to-face interviews, and he reached most last-rounds. In the end, however, he didn't receive another offer. These past few weeks, he has been applying to all kinds of finance positions that he finds, and has secured graduate assistantship positions for the time-being.

I guess everyone has to find the right balance between applying for specific positions and applying for every single opening, and between being a student and an applicant. I myself did targeted applications, and it worked for me, but I guess there was luck involved too. I had another friend who applied to every single opening he was eligible for, and the many interviews tired him out and disrupted his classes and group meetings. You are still a student while you're applying, and if learning is important for you (as it is for me), then you still need significant time for your studies and groupwork.

Friday, August 17, 2012

Pinoy Food Online!

It's such a relief to know that Filipinos in the USA who are suffering from homesickness can be comforted by the knowledge that Lucky Me pancit canton, Milo, Knorr soups, Alaska evap and tuyo can be delivered right to their doorstep!

http://www.philamfood.com/

I found the above link the other night and was amazed at the inventory. Sunsilk shampoo, chicharon, Fita biscuits, La-La fish crackers, Vcut/Oishi/Piattos chips and Eng Bee Tin hopia can be found here! There are other Filipino sellers on Amazon and other online groceries, but I think this store has the most variety and the cheapest prices outside of shipping.

I haven't actually ordered yet as the prices are more expensive than local brands, but if I suddenly crave for a taste of champorado or Fibisco chocolate mallows, I know that I can have them delivered straight to my door.

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We have nearly finished three weeks of orientation (yes, THREE weeks!) and have readings and homework all piled up. School hasn't even started!

Already, we've had two mock interviews per student. Career nights, career fairs and career development sessions have also filled up our schedules. You can just feel the pressure and the stress. We have been given two books that will be useful in our career hunt. Two books! I haven't finished one yet.

We've had communication skills workshops and math workshops. We've toured the campus and spent our breaks listening to notable speakers. We've had impromptu gatherings and socials. Our inboxes have been flooded with emails from various departments, reminding us to order business cards, pay our accounts, buy our books, answer surveys, look at possible internships and submit that resume to the career website.

All this, while the sun sets at 9 PM and each day grows colder. It's nearly the end of summer. It's nearly the start of school!