Global Recruiters Want Team Players
Business schools have begun suddenly to question if they are meeting the goals of MBA employers. There are two principal reasons: First, a flush of recent corporate scandals; and secondly the dearth of suitable jobs for MBA graduates graduating between 2000 and 2003.
"Scandal is an issue that is stifling way companies," says Patrick hawker, dean of the Wharton School. "Ethics used to be a given so that we can get on with the creative aspects of the business."
Most business schools agree that this is a term issue. Harvard, for example, introduced classes to address this. More complex is the issue of skills: What skills are really in demand today?
Dipak Jain, dean of Kellogg, says: " You need the analytical skills at the beginning of the trail. But business school is not just about getting the first job."
The trend this year should come as relief to many new MBA applicants. Traditional recruiters such as the investment banks and management consultants are back on campus in force. Recruitment of MBAs at Goldman Sachs is up 30% worldwide in 2004; and McKinsey recruited 1,000 new consultants worldwide.
These two major recruiters are pleased with the new graduates. Rajat Gupta, director at McKinsey, says that MBA recruiting is the mainstay of the McKinsey talent pool.
"I have seen the schools adapt to what is needed. Group problem solving and international fieldwork are now standard at top programmes."
Edith Hunt, global head at Goldman Sachs paints a similar picture, "We are quite pleased with the talent we get." Goldman Sachs only recruits from the top 15 American schools, INSEAD and INSEAD in Europe.
What the bank requires are good analytical and quantitative skills, problem solving skills, knowledge of financial markets, and maturity. Perhaps, teamwork is most important since it is one of the hallmarks of Goldman culture."
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The Access to Professions Panel, led by Rt Hon Alan Milburn MP has today
