As a recent graduate who has been through the recruiting process and received several job offers, I would like to give back by offering some advice to students and prospective students about what the job search is process is like. I majored in business, which is by far the most popular major among undergraduates, so this article will be geared towards students majoring in business (or economics). These tips will be very general as I cannot possibly know everything, but I think I have enough experience to offer some basic insights into how things work.
School Choice
Where you go to to school will have a big impact on where you get a job, so high school seniors, choose wisely. Why is school choice one of the most important factors in getting a job? Well, entry-level jobs are easiest obtained by participating in campus recruiting, and companies usually only target certain universities while recruiting. They know that they have hired quality students from that university in the past (and usually have many alumni currently working) and usually go in with a set goal to hire a X number from Y university. Campus recruiting is a de facto network. Use it!
Ivy League
Ivy League and similar schools typically have very strong recruiting for business positions. If you want an elite job at a bulge bracket (BB) investment bank or at a consulting firm (McKinsey, Bain, Boston), these schools are usually good places to land as these firms will hire many students from these universities. However, these jobs are no guarantees for people just attending these schools, you have to perform academically and demonstrate interest in the field, which most likely leave only the top 10-25% of students who want elite jobs with elite jobs. Several of my friends who went this route went from top student at a top high school to top student at a top college to a job at a BB or MBB. These people were all very smart, driven, and had made plans since freshman year to end up where they are now by doing all the right things (internships, clubs, etc). Planning for success is a very important topic which I will discuss later, but for right now let’s just say you won’t be successful if first semester of senior year is the first time you heard of McKinsey.
Ivy League schools will also have fairly strong recruiting for business positions at many F500 firms, so if the elite jobs are out of your range, you will have plenty of options as long as you get a decent GPA, which should not be hard given grade inflation these days.
Flagship State School
What if you can’t get into an Ivy League school or would rather go someplace else? What are the options from here? The next best option in terms of job opportunities will be your flagship state school, but only if you live in a state with a solid state business school (Wisconsin, California, Texas, Virginia, Washington, Illinois, Indiana, Michigan, etc). These schools will typically have strong recruiting that will give you a shot at a BB or MBB if you are interested in that sort of thing, though it’s most likely to be regional, and only a few of the best students are hired.
F500 firms usually have very strong recruiting presences at these universities, perhaps even better representation than at many Ivy League schools. Why? My hypothesis is that many of these firms feel that Ivy League students are not very interested in their non-elite entry-level jobs, Moreover, these firms typically have strong alumni representation from state schools, so they feel comfortable hiring from these schools. The jobs aren’t particularly difficult so they don’t need super brain firepower. Finally, there aren’t enough Ivy League students to go around, so top state school students are the next best thing and typically just as good.
What are some examples of F500 firms that hire at the entry-level and at state schools? Here are a few ideas: General Mills, Target, Pepsi, GE, Macy’s, IBM, Accenture, etc. These firms typically have entry-level business analyst type roles (excel) where the starting salary is around 50k. For a single person in their early 20’s, 50k is not bad at all, especially if you live in an area where the cost of living is relatively low. You do not need to have any particular skill set to get these jobs and they will typically hire from any business/economics major. Most anybody with an IQ above 110 can do these jobs. Every student is typically interchangeable. Most firms are just looking to see who fits with the culture.
My recommendation is to go to an Ivy League school or to your flagship state school. Hell, a lot of the graduates of these different schools will end up working side by side at the same firms, so either of these options makes a lot of sense from a job opportunities standpoint. I won’t comment on the social and financial aspects of the school choice decision.
Other Options
Where shouldn’t you go to school if you really want a job? Everywhere else…kind of. Some second-tier state schools (and private schools) have decent recruiting, but I would make an effort to check their career services website and talk to a few current students to get an idea of what kind of opportunities are available. A lot of times they will have recruiting opportunities with what seem like good firms…but in undesirable roles like retail management and sales. If you are into this sort of thing, then OK, but I have a feeling that most college graduates did not go to college to get one of these positions. The type of position is just as important as the name of the firm.
With few exceptions (Williams, Claremont McKenna, Amherst, etc), avoid liberal arts colleges at all costs. Why? These schools are typically not big enough to warrant serious recruiting efforts from F500 firms–not to mention the fact that many of the students at these schools have no interest in business at all. To add insult to injury, many of these private liberal arts schools are very expensive, and will not provide a good ROI if you don’t plan on going to medical school.
I cannot stress this enough, campus recruiting is an extremely important part of getting a job, so going to school with good campus recruiting will pay dividends. The vast majority of entry-level positions at F 500 firms are filled through campus recruiting. These firms have developed lasting relationships with the schools. You are very unlikely to get a job or even an interview by applying at the online websites of firms, unless someone important you have a connection with at said firm gives you a nudge in or you are truly an exceptional candidate with a unique background (this is unlikely). As I mentioned earlier, with these jobs, most everyone is interchangeable.
Next time, a discourse on networking.
Life Advice and Cultural Insights for Generation Y 