Management Strategies to Make MBA Career Series Top-Tier
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This document outlines 10 challenges faced by MBA career services and strategies to address them. The challenges include limited budget and resources, viewing career services as an expense rather than revenue source, developing strong business cases using metrics, impact on school rankings, relationships with the dean and other departments, engaging faculty, focusing too narrowly on local opportunities, limitations of on-campus recruiting, and meeting the needs of diverse students. For each challenge, specific tactics are provided such as leveraging technology, securing additional funds, emphasizing student and employer satisfaction, and using alumni networks and industry specialization to facilitate off-campus hiring. The overall aim is to elevate the influence and standing of career services within business schools.
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Management Strategies to Make MBA Career Series Top-Tier
- 1. Management Strategies to Elevate the Influence and Stature of Career Services in Your School Roy Young Beyond B-School Judi Downey Northeastern University
- 2. 2012 Study: Ten Challenges and How MBA Career Services Are Beating Them Roy Young Founder, Beyond B-School roy@beyondb-school.com
- 8. 1. Focus on the true customer: Employers Budget and Resources CHALLENGE 1 ► TRY THIS
- 9. 2. Leverage technology and online tools Budget and resources CHALLENGE 1 ► TRY THIS
- 10. 3. Secure funds from admissions, alu mni and academics Budget and Resources CHALLENGE 1 ► TRY THIS
- 11. 4. Make a business case (Operating vs. Staff Headcount) Budget and Resources CHALLENGE 1 ► TRY THIS
- 13. Align with Admissions and Alumni RelationsExpense vs. Revenue CHALLENGE 2 ► TRY THIS
- 14. Expense vs. Revenue CHALLENGE 2 ► TRY THIS
- 15. Expense vs. revenue CHALLENGE 2 ► TRY THIS
- 16. Expense vs. revenue CHALLENGE 2 ► TRY THIS
- 17. Expense vs. revenue CHALLENGE 2 ► TRY THIS
- 18. Expense vs. Revenue CHALLENGE 2 ► TRY THIS
- 19. Expense vs. Revenue CHALLENGE 2 ► TRY THIS
- 20. Expense vs. revenue CHALLENGE 2 ► TRY THIS
- 21. Expense vs. revenue CHALLENGE 2 ► TRY THIS
- 22. Expense vs. revenue CHALLENGE 2 ► TRY THIS
- 23. Business Case with Metrics CHALLENGE 3
- 24. Business Case with Metrics CHALLENGE 3
- 25. Business Case with Metrics 1. Influence on “yield rate” CHALLENGE 3 ► TRY THIS
- 26. Business Case with Metrics 2. Student and Employer Satisfactio nCHALLENGE 3 ► TRY THIS
- 27. Business Case with Metrics 3. Changes in Compensati on CHALLENGE 3 ► TRY THIS
- 30. Business School Rankings CHALLENGE 4 ► TRY THIS 1. Review all published rankings
- 31. Business School Rankings CHALLENGE 4 ► TRY THIS 2. Use selective data points (input vs. output variables)
- 32. Business School Rankings CHALLENGE 4 ► TRY THIS SCHOOL PLACEMENT RATE OVERALL RANKING 1. Tulane 98% 43 2. Ohio State 98% 25 3. Temple University 98% 64 4. Georgia Tech 95% 32 5. Northeastern 95% 56 6. Emory 94% 19 Top Business Schools that Lead to Jobs Source: U.S. News Best Business Schools 2012
- 33. Business School Rankings CHALLENGE 4 ► TRY THIS 3. Consider internal vs. external usage
- 34. Relationship with the Dean CHALLENGE 5
- 35. Relationship with the Dean CHALLENGE 5 ► TRY THIS Focus on Student Success as #1 Mission
- 36. Strengthen Relations with Business Community Relationship with the Dean CHALLENGE 5 ► TRY THIS
- 39. Department Silos CHALLENGE 6 ► TRY THIS Admissions Applications and yield rate Alumni relations Academics
- 40. Department Silos CHALLENGE 6 ► TRY THIS Admissions Applications and yield rate Alumni relations Engagement Academics
- 41. Admissions Applications and yield rate Alumni relations Engagement Academics Curriculum input Department Silos CHALLENGE 6 ► TRY THIS
- 42. An “Ivory Tower” Faculty CHALLENGE 7
- 43. An “Ivory Tower” Faculty CHALLENGE 7 ► TRY THIS Employer / Industry Advisory Groups
- 44. An “Ivory Tower” Faculty CHALLENGE 7 ► TRY THIS Class Speakers
- 45. An “Ivory Tower” Faculty CHALLENGE 7 ► TRY THIS Guidance for Curriculum
- 46. An “Ivory Tower” Faculty CHALLENGE 7 ► TRY THIS Compare to law and medical schools (b- schools are also training professionals)
- 48. Focus on Local/Regional CHALLENGE 8 Students unwilling to relocate
- 49. Focus on Local/Regional CHALLENGE 8 Regional schools are competitive
- 50. Focus on Local/Regional CHALLENGE 8 ► TRY THIS 1. Form alliances with other schools in the region
- 51. Focus on local, regional CHALLENGE 8 ► TRY THIS 2. Become the authority on regional business
- 52. Focus on local, regional CHALLENGE 8 ► TRY THIS 3. Host events of all types
- 54. Limits of On-Campus CHALLENGE 9 Most positions are filled off campus
- 55. 1. Alumni Network Limits of On-Campus CHALLENGE 9 ► TRY THIS
- 56. 2. Industry Specializati on Limits of On-Campus CHALLENGE 9 ► TRY THIS
- 57. 3. CRM/Sales Techniques for employer relations Limits of On-Campus CHALLENGE 9 ► TRY THIS
- 58. Variety of Student CHALLENGE 10
- 59. Variety of Student CHALLENGE 10
- 60. Variety of student CHALLENGE 10 ► TRY THIS Evaluate published rankings of programs
- 61. Variety of student CHALLENGE 10 ► TRY THIS Use technology for communications and skills development
- 62. Variety of student CHALLENGE 10 ► TRY THIS Real-world application of classroom knowledge
- 63. Variety of student CHALLENGE 10 ► TRY THIS Measure outcomes: Career progress and mobility
- 64. 10 MBA Career Services Challenges and Ways to Meet Them
- 65. Management Strategies to Elevate the Influence and Stature of Career Services in Your School Roy Young Beyond B-School Judi Downey Northeastern University
Editor's Notes
- Welcome and thank you for attending this session.I’m Roy Young… I’m joined by…Judi Downey of Northeastern University andWendy Tsung of Emory University.Unfortunately, Pete Giulioni was unable to make it to the conference for personal reasons.I will first share with you highlights of research Beyond B-School conducted focused on the practice of career services at all types of graduate schools of business. The research reveals challenges and successful strategies being used to meet these challenges.Then two representatives of universities will present the work of their departments to elevate the influence and stature of career services in their schools.
- I’m going to kick off this session…Then you’ll hear inspiringcase studies from Judi and Wendy.I welcome questions and input throughout my presentation. To allow for open dialogue and learning from each other , we have allocated 50 to 60 minutes for this part of the session.My company, Beyond B-School conducted a research study of career services in graduate schools of business to learn about the role they play in the school, what . . .
- First, we conducted in-depthinterviews with 25 career services directors. Then we conducted an online survey, and received responses from another 32 professionals.We discovered something interesting…
- Virtually all are striving to meet management challenges, which are a function of the unique position it holds in the school – between internal functions AND the ultimate customer, EMPLOYERS.Our analysis of the data reveals 10 challenges that are common of career services centers and ways schools are meeting these challenges.In the following slides, I am representing the ten challenges in this bubbly-looking form because many of them have overlapping origins or root causes. And since some of the STRATEGIES for overcoming these challenges also overlap…
- …it makes sense to manage them in clusters instead of as isolated issues.Let’s quickly run through each of these, starting with, well… What do YOU think came up as the biggest challenge?
- If you said BUDGET, you’re right.The function is often under-funded and the first budget to be cut in tough times.How do we know this?
- At the top of everyone’s wish list is a big fat sack of money to hire more professionals.We learned of four strategies for securing more funding…
- First, some MBA career services centers improved their access to the resources by treating EMPLOYERS as the customer. Relationships with employers have economic value to the school (as we will see later).The next budget strategy…
- Stretch every dollar in the budget by using technologies like web meetings, videotaped lectures, promotion of events with social media.A third budget strategy…
- Serve the needs of other departments to secure financial support. Ironically, this kind of collaboration in itself is a challenge, which I’ll address shortly.The final budget strategy…
- Building a strong business case that includes metrics demonstrating the clear value of career services. Again, this strategy highlights another challenge as we will see.
- Career services is an EXPENSE function. In any organization, not just universities, it’s the REVENUE functions that get respect, attention and resources.What revenue functions are we talking about?
- Admissions and Alumni Relations.Scratch the backs of these revenue functions.For example…
- (show web sites of schools highlighting “output” in terms of career launch information on web pages for “prospective students”)See Boston College for an example . . .
- Web page 2
- Web page 2
- Web page 2
- Web page 2
- And the University of Arkansas’ Walton College
- Web page 2
- Web page 2
- It is surprising how few schools feature this type of information on their “perspective students” web pages.
- The research revealed that career center directors struggled to express the VALUE of their services in measurable terms.
- Here are some ideas Building a business case for your organization .
- The ULTIMATE QUESTION- satisfaction ratings of both students and employers. “on a scale of 1 to 10, how likely would you be to recommend your school to friends or colleagues?”
- Measuring changes in compensation 2-5 years after graduationNow, on to challenge number four.
- Why does business school ranking come up as a challenge at all?We heard two reasons…
- (Magazine covers)“We Do Poorly” OR “Dean Does Not Care” OR “Career Services cannot influence”
- Review All Published Rankings
- Use selective data pointsFor example…
- PLACEMENT RATE is a more relevant metric than OVERALL RANKING.*School reports percentage of students employed 3 months after graduation**400 schools rated using self-reported data on academic programs and make up of student body.
- Consider Internal & External Usage. There are data points you may focus on internally and there my be data points you use in marketing and public relations.This leads into the next challenge…
- Your school’s dean. We heard consistently “our Dean is a former academic and does not fully appreciate the value of Career Services, the bridge from academia to the business community.
- This is what Career Services is all about. If your school is unified in this mission, you will have respect and value. All the more so, if your Dean articulates it explicitly. However, If this is not the #1 mission of the Dean, then it is your job to wave this flag.
- Relationship to Business Community. Career Services is in a unique position to make sure the school meets the needs of the ultimate customer.There are other relationships that add to your challenges, too…
- Every career center needs strong, collaborative ties with key organizations in your university.Those include…
- Admissions, Alumni, and AcademicsHelping them meet THEIR goals helps YOU.For instance…
- Admissions: Applications and “Yield” RateAlumni Relations: EngagementAcademics: Curriculum Input
- The phrase IVORY TOWER came up a lot in this next challenge.Anybody want to describe what the heck that means?
- Employer/Industry Advisory Groups
- Class Speakers
- Class Speakers
- Comparison to Law and Medical Schools
- The research found that some consider focusing on regional employers a blessing, and some consider it a curse.
- [Map?]Students Not Willing to Relocate and thus limit the employer target
- Schools Are Competitive – especially when in comes to getting their MBA grads jobs with top employers in the area.It doesn’t have to be this way.
- Form Alliances with Other Schools in Region for things like career fairs and other events.
- Become the Authority on Regional Business
- Host Events of All Types[example – Rice University runs an annual business plan competition and invites key groups in the community like the Houston Technology Center, Angel Investors, major employers, and even NASA… to JUDGE, contribute prize money, as well as attend the hugely popular award ceremony]
- Challenge Nine. The traditional “campus career fair” and interview days are becoming rather antiquated, not only because so many MBA students are already in the workforce and rarely set foot on university grounds…
- …but also because more employers are simply filling positions off campus.What can you do to meet this challenge?
- Alumni Network is the obvious place to start . Alumni Relations is often focused exclusively focused on fundraising, but can be convinced that engagement of all types leads to effective future fundraising campaigns.
- Industry Specialization
- CRM/Sales techniquesThese ideas can also apply to the final challenge from our study…
- Fewer students today go for an MBA immediately after earning their undergraduate degree.This means that career centers have to provide services to a newer breed of student with very different needs.
- On-campus, younger students vs mature, working professionalsPart-Time MBAsEMBAsOnline MBAsHere are some ways you can serve the MBA population of working professionals…
- Evaluate Published Rankings of Programs
- Use Technology for Communications and Skills Development
- Encourage Application of Classroom Knowledge
- Develop Outcome Measures: Career Progress/MobilityAll right. That’s all ten. Feeling overwhelmed? Don’t be.
- It’s true that to prove value, gain respect, and secure funding you must manage multiple dimensions of your career services center. My advice is that you establish your own priorities by picking the cluster of challenges that will have the greatest impact on your success. I hope the information from this study helps guide the way.
- Now, we get to hear inspiring stories from Northeastern and Emory. First up is Judi.