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留学参考:2 Of 5 MBAs In Totally Unexpected Careers  

2017-03-01 05:32:14|  分类: DIY留学综合信息 |  标签: |举报 |字号 订阅

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留学参考:2 Of 5 MBAs In Totally Unexpected Careers
 
BY: MARC ETHIER ON FEBRUARY 28, 2017

 

We make plans, we break plans. Life often takes you in unexpected directions, as the latest Graduate Management Admission Council survey of business school alumni proves.

More than half of alumni work in industries they had no experience in before business school, according to GMAC’s 2017 Alumni Perspectives Survey. But that’s not exactly news: The number, essentially a measure of how common it is for people to switch careers, has remained stable over the years. GMAC also found, however, that 2 in 5 respondents — 39% — say they work in fields they hadn’t even considered prior to B-school.

The annual survey of about 15,000 graduates from more than 1,100 programs worldwide has never asked that question since the survey began in 2001, says Gregg Schoenfeld, GMAC research director, so there’s no way to know if 39% is more or fewer than usual. (We do know that it’s a higher number overall than the 28% of Class of 2016 grads who say the same.) But it’s notable that among those who find themselves in unexpected and unforeseen professions, 88% report satisfaction with their jobs — fewer than the overall satisfaction rate of 95%, but overwhelmingly positive nonetheless.

“In school, students are uncovering new opportunities that they are able to do,” Schoenfeld says. “The example I’ve been using is someone who goes to school for finance, but once they take courses in supply chain management and they talk to faculty and such, they realize, ‘Hey, this is much more interesting to me.’ They didn’t think about it before, but they’re switching gears. We have a quite a few who are saying they’ve never considered an industry before and now they’re actually in it.

“The 52% is not unusual; we’ve never asked them whether they have actually considered that industry before. We always knew that 52% were switching careers, but we never knew that they were  switching careers and uncovering a new career that they didn’t even think of before.”

‘A WIDE RANGE OF OPPORTUNITIES’

GMAC polls three generations of alumni, whether full-time, part-time, executive, or non-MBA, including some who have completed surveys for the nonprofit before. The 2017 poll found that 92% of respondents are currently employed, with 81% employed by a company and 11% self-employed entrepreneurs. (Compare this to the 5% of Class of 2016 grads who self-identify as entrepreneurs; more on them later.) Globally, the products and services (27%), technology (14%), and finance and accounting (11%) sectors employ the highest number of alumni.

MBAs are more likely to work in the tech, nonprofit, manufacturing, health care, energy, and utilities sectors; those with non-MBA business master’s degrees are more likely to work in finance, accounting, and consulting. MBAs are more likely to hold marketing, sales, operations, logistics, and general management positions; non-MBAs are more likely to be in finance, accounting, and human resources. Most alumni start their postgraduate careers in a mid-level position, GMAC found, with 60% holding supervisory positions and 43% as budget owners.

How about those alumni who changed careers, perhaps to an industry they’d never considered? Their stories run the gamut. One executive MBA who got his degree in 2001 describes being let go during a downturn in the oil and gas industry and finding work in a consulting role; another full-time MBA who earned her degree in 1999 says she met recruiters during a campus event and “really felt like I fit in to the culture.” She remains with the company to this day. Another MBA, who studied part-time before receiving his degree in 2004, says simply that a recruitment opportunity arose at a solar start-up, and he “was always interested in energy but did not have much exposure to it.”

Adds Sangeet Chowfla, president and CEO of GMAC, in a news release accompanying the survey: “Graduate business programs expose students to a wide range of opportunities and provide alumni with access to a variety of career outcomes. It’s clear from the results that alumni feel their education helped prepare them for leadership positions, as well as enhanced their earnings potential and guided their career development.”

 

TWEAKS TO THE SURVEY, AND THE DATA

GMAC’s latest survey uncovered few surprises overall, and that includes on the salary front. For entry-level jobs, the highest average base salary, by far, is in the energy sector ($90,106), with the next-highest being in tech ($72,800). Move up a rung to mid-level and energy still rules at $129,076 — but on the next stop, senior level, energy ($158,540) gives way to finance/accounting at $164,932. Consulting offers the top salaried executive positions ($243,601), and energy swoops back into the lead at the C-suite level with an average salary of $321,579.

A new wrinkle in the GMAC survey this year was its calculations using other forms of compensation, such as bonuses. Researchers learned what percentage of compensation was from base salary and discovered that the higher one rises in the ranks, the more one’s compensation comes from non-salary sources. In short, B-school alumni earn 76 percent of their total compensation in base salary, a figure that drops correspondingly with a rise up the career ladder. The average total compensation package for graduate B-school alumni ranges from a median of $75,513 for an entry-level position upward to a median of $440,122 for a C-suite executive.

In the 2016 alumni survey, GMAC measured ROI and found that on average, B-school grads earned back their educational expenses within about four years of graduation. This year the survey did not include that question, “because to get that information and to get the information on salary progression is time-consuming on the respondents’ part, we don’t want to overburden them by asking for both in the same year,” Schoenfeld says.

AS YEARS PASS, ENTREPRENEURSHIP NUMBERS RISE 

More than 1,500 entrepreneurs responded to the alumni survey, representing 11 percent of the total sample. Most have businesses in the consulting and products and services industries and employ fewer than 25 people, and most — 65% — began their business after working for a company following graduation. This latter fact explains in part why only 5% of a 1,000-person subset of respondents, members of the Class of 2016, identified as entrepreneurs: These very recent grads took the GMAC survey only four to six months after graduating.

“That 5% from the Class of 2016 has traditionally held steady since we’ve started doing any type of alumni studies,” Schoenfeld says. “When we start looking at entrepreneurship over time it starts increasing. So we delved a little deeper to ask specifically, ‘When do you start your business?’ And what we did find is that 55% of eventual entrepreneurs end up working for a company for a while after graduation.”

GMAC found that 12% of  alumni sought venture capital for their business and 72% of those received funding. About 1 in 8 (12%) of entrepreneur alumni partnered with a classmate to start a business; many said they had access to a variety of school resources to support their initiatives. Asked by GMAC to describe their reasons for going to B-school, one part-time MBA who received his degree in 2012 said he started his business when he was young and “not very knowledgable,” and as his business grew he realized he needed formal education “to better foster the maturation of my ventures.” Another set of respondents echoed each other in saying they went to B-school to learn essential skills.


 

A SKILLS PROGRESSION FROM TACTICAL TO STRATEGIC

What skills are most essential, and for what jobs? Alumni rank interpersonal skills — such as active listening, persuasion and negotiation, and time management — as most important in the workplace, GMAC found, regardless of job level or function. Among the top five talents that are key to their job, respondents ranked those relating to people skills or emotional intelligence most highly.

Other skills predominate as one moves up the corporate ladder. Alumni in higher-level positions are more likely to indicate that managing human capital, strategy and innovation, and the decision-making process are more important to their current job compared with alumni in lower-level positions.

“We see through this survey that business schools are there to provide a foundation of job skills,” Schoenfeld says. “Years ago, talking to business school faculty and admissions people, they also told me, ‘Business school is not really teaching you for your first job out of school, it’s teaching you for your second or third job out. They try to lay that foundation of strategic thinking, learning how to make appropriate decisions with the right information or sometimes the lack of some information and uncertainty. You can see that that’s the progression. It goes from that whole entry-level more tactical, to the more strategic as ou move up — which is intuitive.

“And of course ‘interpersonal skills’ has always been number one in those soft skills. And schools have picked on that by having a lot more teamwork projects where you have to deal with different personalities, so they are trying to instill these interpersonal skills within the curriculum.”

SIGNIFICANT REWARDS AND A SUSTAINED HAPPINESS QUOTIENT

It all comes down to this: Business school alumni are, on the whole, happy with their educations and what they’ve achieved because of them. Looked at through the lens of the so-called Three Dimensions — personal, professional, and financial rewards gained because of their business education — alumni say they are happy in all three, having become better prepared for leadership positions (86%), better prepared for their chosen career (85%), and increased their earnings power (82%) since graduating from B-school. More than 9 in 10 alumni would pursue a graduate business degree again knowing what they know now, GMAC found, and most would recommend graduate management education to a friend or colleague.

Overall, 95% rate their education as a good to outstanding value.

Asked whether any of these levels of satisfaction were unusual historically, Schoenfeld replies succinctly, “No.” He adds, “Alumni have consistently reported a great value to their education. Those numbers have always been high, even when we look at what we call the three dimensions, the personal value, the professional value, and the financial value — those have all been relatively steady. In these cases we haven’t seen any major shifts.”

Adds Sangeet Chowfla: “Year after year our research has shown that a graduate management education offers significant personal, professional, and financial rewards. We’re now seeing strong evidence of how valuable the degree is with regard to changing careers. Given the current pace of change in the economy and the workplace, candidates can be confident in the knowledge that a graduate management education can prepare them with the skills and flexibility they need to be in a better position to pivot and adapt their careers when opportunities present themselves and industries are disrupted.”

 

 

以上内容摘自:

http://poetsandquants.com/2017/02/28/half-mbas-unexpected-career-paths/ 

 

 

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