Graduate Employment Search by Industry 2008: Investment Banking
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Graduate Employment Search by Industry 2008: Investment Banking

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  • 1. Graduate Employment Search Industry Analysis 2008: Investment Banking Gregg Schoenfeld Associate Director, Research Graduate Management Admission Council® ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. This document may be reproduced, in whole or in part, without modification and with all copyright and trademark attributions included.
  • 2. Post Graduation Post-Graduation Industries Inv e s t m e nt B a nk ing/ M a na ge m e nt , 8 % Half of the graduates M a na ge m e nt were interested in 11 C o ns ult ing, 5 % industries from B a nk ing, 5 % a list of 55 industries. C o ns ult i lt ing S e rv ic e s , 5 % A ll o t he rs , 5 0 % Inf o rm a t io n T e c hno lo gy o r S e rv ic e s , 5 % C o ns um e r G o o ds , 5% 8% of graduates intend to be employed M a rk e t ing in the investment banking S e rv ic e s , 4 % industry. F ina nc e a nd Ins ura nc e , 4 % E ne rgy/ Ut ilit ie s , 3% H e a lt hc a re , 3 % A c c o unt ing, 4 % ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research
  • 3. Investment Banking: Career Changing Status The vast majority of respondents entering the investment banking/ Previously management industry worked in were switching industry 24% from other industries. Plan to switch into industry 76% ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research
  • 4. Investment Banking: Prior Industry among Career Switchers About a third of the respondents switching into investment banking previously worked in other finance/accounting industries and about a fifth worked in the technology or ykr industries, products/services industries. Finance/Accounting 36% Technology 17% Products/Services 16% Consulting 10% Nonprofit/Government 7% Manufacturing 6% Energy/Utilities 4% Healthcare 3% 0% 10% 20% 30% 40% ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research
  • 5. Investment Banking: Anticipated Job Level The majority of respondents plan to enter the investment banking industry at a mid-level position after graduation. About third of the respondents who previously worked in the industry plan to hold a senior level position after graduation. senior-level graduation 75% 64% 62% 50% 25% 31% 12% 22% 5% 2% 2% 0% Entry level Mid level Mid-level Senior level Executive level Plan to switch into industry Previously worked in industry ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research
  • 6. Investment Banking: Job Search Status 73% searching for a job 14% staying with current employer. Received/ Waiting for offers accepted 1% starting own business. b i 49% offer 51% 12% not currently searching. Average # of Job Offers 2.4 ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research
  • 7. Investment Banking: Company Selection Criteria When selecting a company in the investment banking industry, respondents considered room for growth, a fit with the company culture, and a positive organizational climate to be the most important criteria criteria. Room for growth Fit with company culture Positive organizational climate Company image/reputation Company stability High ethical standards Location Employer values graduate business skills Emphasis on work-life balance Physical surroundings Emphasis on community/inclusion Opinions of others Not at all Extremely important important ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research
  • 8. Investment Banking: Preferred Organizational Culture The preferred culture includes a cooperative atmosphere, a clear and well-communicated vision, a f focus on company success, and individual performance-based rewards. f Centralized decision making Decentralized decision making Internal competition Cooperative atmosphere Well-defined career path Flexible career opportunities Formal atmosphere Informal atmosphere Clearly defined Varied/fluid responsibilities responsibilites Formalized procedures Loosely defined procedures Flexible, adaptable Clear, well- corporate goals communicated vision Focus on company success Focus on public good Individual performance- Team-based reward based reward ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research
  • 9. Investment Banking: Job Selection Criteria When selecting a job, respondents considered challenging and interesting work, advancement opportunities, an opportunity to learn new things, and opportunity for professional development to be the most important criteria. Challenging and/or interesting work Advancement opportunity Opportunity for professional development Opportunity to learn new things Competitive salary Achieving something that you personally value Ability to make an impact Benefit package Visibility with executive team Job autonomy Job security Flexible schedule Stock option or ownership program Opportunity to work or travel in a foreign country Not at all Extremely important p important p ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research
  • 10. Investment Banking: Expected Change in Salary Overall, respondents entering the investment banking industry expected a 64% increase in salary compared with their pre-degree earnings. 100% 75% 67% 64% 50% 57% 25% 0% Previously worked in Plan to switch into Overall industry industry ©2008 Graduate Management Admission Council® (GMAC®). All rights reserved. Source: 2008 Global MBA® Graduate Survey. Available at http://www.gmac.com/research