Spice It Up, Do Not Wait For Godot: Careers

Spice It Up, Do Not Wait For Godot: Careers

Viewpoint by Andrew Scharf, Head of the WCW Group

Most employees find that salary negotiations tie them up in knots. Not everyone is like Octopus Paul, the famous forecaster of World Cup futures. However, many MBA grads are a privileged audience when recruiters come on campus, and yet they can even hem and haw. The economic crisis can take the strangest manifestations. What do you do if there is too much cayenne pepper in the “rouille”?

"Rouille" for those of you who do not know is a special garlic mayonnaise made with cayenne pepper and served on croutons for that simply marvelous fish soup known in the South of France by its proper name: Bouillabaise.

Well you could always sling it back at the chef as I once saw at a quai side restaurant in Cassis near Bandol. I would however, recommend extreme caution. Restaurateurs are feisty birds. One and all. That goes double for headhunters. You could wind up out on your ear.

The career services divisions at top MBAs are trying to meet the challenge by coaching their students on how to behave and negotiate satisfactory outcomes. Beware however, not all business schools offer you the career services support you may need to succeed.

Although coaching is clearly crucial in convincing a prospective firm that you are a good match for a position within their organization, the global economic downturn has given some students room for thought on which job to select. For example, the financial industry has cut back job offerings. There are offerings out there, but you will need to prove your worth to earn a berth.

According to Sylvain Hillaraud based in London, he said that many recent graduates have faced extended job hunts. There is even the instance when certain MBA grads went back to former employers out of desperation. Not a great strategic move professionally, but when you must eat, support a family, and pay back your loans for education options can be limited.

It is generally acknowledged that there are fewer jobs out there than in the glory years of the 1990s. Despite this trend, salaries remain buoyant. Even during the last two years the best MBAs reported that their top students were receiving multiple job offers. As recent economic indicators suggest, the economy is now coming around, and this can only be good news. First, it will give new MBA grads more room to maneuver and secondly, there will be more options from which to choose. Inside sources to WCW say that the second half of this year and 2011 should be more robust.

According to Paul Holmes, a recent grad from IMD, he told Whitefield Consulting Worldwide (WCW) that his colleagues had met their salary expectations. This can only be good news for Katty Ooms-Suter, Director of Admissions and Careers at IMD. When done with strategic care, salary negotiations can include housing allowances, relocation costs, and even private schooling for one’s offspring depending on the job and its location. It is true that IMD students are fortunate. The school organizes workshops for those in the midst of the job hunt and negotiation process. The school will even review contracts and make suggestions.

Clearly like in any professional endeavor, the key to success here is groundwork and that means research. If you don’t do your homework, it will be hard. Look at the industry sector and role you are keen on. Examine positions and responsibilities. See what the market offers people for the type of role you wish to play.

Another advantage is networking. Although the term is clearly over-hyped, networking is key and an unrelenting pursuit no matter what your field of business practice. This is another reason so many people from across the budding global elite what to gain an MBA from a top-notch business education.

The leading business schools have excellent networks. Just check out the alumni rosters for Harvard Business School, Wharton, Chicago-Booth, Columbia Business School, Stanford GSB, London Business School, INSEAD, HEC-Paris or IMD and you will recognize their importance.

Does graduating from a non-top 20-business school mean that you cannot network as effectively?

Clearly it does not. Many fine and noble people graduate from less famous schools and have excellent working business networks. It is just a bit harder. It is also a question of personality. Not everyone is a born networker with an extroverted personality. Networking is also a “learned” skill set although it can also be instinctual.

This is also one of the things that you pay for when you do an MBA: the privilege to tap the existing alumni network. Were you not to exploit this asset to the maximum, it would constitute a distinctive waste.

If you desire to attack highly competitive job areas such as in luxury brand management, investment banking, finance or management consulting you could be presented with a “take it or leave it” offer. You must use your judgment; however, do not wait for “Godot”. He is never coming.

Banks and consultancies have the “best” candidates to choose from. When a firm is spoiled for choice, they can afford to be very picky, and they are.

Another pointer is to tailor your pitch to the times. When you approach a firm, you must be able to sell the “product” as George Mycroft, Director of Marketing & Strategy at Whitefield Consulting Worldwide counsels in London. “If you do not show your employment target the right value, you will miss your mark”.

In the current overall downturn, MBA grads should be able to harvest the entrepreneurial skills they have learned in business school. The proverbial entrepreneurial mindset is not just a euphemism. It is a strategic approach in handling salary negotiations successfully and carrying out your job hunt with dexterity.

Don’t let the economic climate or a lack of preparation jeopardize your “Endeavour”. With the right tools at your back, you can blast off your career without delay.

For Further Information

If you are seeking help with your career planning, undergrad business or non-business school selection or even a Masters whether in France or elsewhere and would like counsel on how to best choose and plan for your career development, please send us an email with contact details and we will be happy to guide and counsel you.

Visit:
http://www.whitefieldconsuting.com
or send an email with your CV as an attached word document to: enquiries@whitefieldconsulting.com

About The Author

Andrew Scharf is a regular contributor to WCW inSIGHT on leadership and Business Education Trends. He is also the head of the MBA Coaching & Career Development division of Whitefield Consulting Worldwide, whose unique coaching methodologies have helped countless professionals harmonise their professional aspirations with their developmental needs at levels from "Prepa" to Executive education.

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