In today's Wall Street Journal, Ron Alsop interviews the executive director of career services at the Fisher College of Business at Ohio State, who recounts tales of MBA graduates being wooed with limousine rides and iPods. Of greater interest:
There's fiercer competition mainly because more industries have ramped up their recruiting, specifically retail, insurance and other financial services, private equity, health care and technology. At the same time, activity is up in the M.B.A. bellwethers -- consulting, investment banking and consumer products -- with 15% to 20% more companies in those industries doing recruiting. For students, that means there are more diverse opportunities in what is clearly a seller's market.
He's even predicting an imminent shortage of MBAs, which is more good news for business school students, especially part-time and executive MBA students who don't always get to compete with full-time MBAs when the MBA market is softer.
He also predicts that millennial MBAs (unlike MBAs in the dotcom days) are "looking for stable companies where the financial rewards are clear and they can see a trajectory for how they can advance." I would add that while Gen Y MBAs may be looking at companies with longer-term prospects in mind, they aren't likely to stay with that first employer very long. Odds that they're still going to be with the same company in year 5? I'd apply a pretty big discount factor to that forward-looking projection.