“The process of selecting the right MBA or graduate program is also part of making sure you … [+] climb the right wall when you force yourself to figure out what’s important to you.” Jonathan Masland, 42 co-founder and director of Fortuna Admissions
When choosing a career ladder to climb, it is important to place it on the correct wall otherwise you will waste a lot of time and effort.
Jonathan Masland spent his summers in college painting houses in Philadelphia, so he always climbed the ladders. The advice he received during his undergraduate studies at Harvard University has followed his entire career, which has included investment banking, internet startups, healthcare M&A, telecommunications, and an entrepreneurial catering trailer leasing company.
My Co-Director at Fortuna Admissions and Co-founder of 42, a technology and financial solutions startup for India’s college students, stated that the business school is a great time to make sure you are putting the ladder in the right position. “The process of selecting the right MBA or graduate program is also part of making sure you’re climbing the right wall when you force yourself to figure out what’s important to you.”
After earning an MBA from Wharton, Jonathan spent 14 years at the Tuck School of Business at Dartmouth College and as Executive Director of the Career Development Office, he managed a team that provided professional services to 580 full-time MBA students, 10,000 alumni and undergraduates through the school’s bridging program business. Overseeing recruiting relationships for more than 1,000 organizations, his team has secured the highest or near the highest levels of employment in the top ten US MBA programs for six consecutive years.
“Self-awareness has undoubtedly been the most important trait of people who are successful in their job search. As we restructured the career services at Tuck, I presented more than 10 job characteristics to eight of the Career Development Office executives, and they all chose “self awareness” as the most important. So the more self-aware they are when they go to business school, the more self-awareness they develop during the program, the more successful they will be in their job search and career. ”
When people think of business schools, they often think of an MBA. But as the CentreCourt Masters Festival, I am co-organizing with Poets & amp; Quants shows that most business schools also offer a wide variety of specialized graduate programs that can cover very specific areas of business, depending on the specialization or future role that the student is interested in.
From an established MSc in Management and MSc in Finance to a rapidly growing MSc in Business Analytics, the growing portfolio now includes MSc in Climate Change, Management and Finance, MSc in Supply Chain Management, MSc in Product Management, MSc in Cybersecurity and more.
As the list of potential Master’s programs continues to expand, what career levels have Business Masters alumni recently taken?
“Self-awareness is undoubtedly the most important characteristic of people who are successful in their job search.” Jonathan Masland, … [+] Former Executive Director of the Career Development Office, Dartmouth Tuck
Some people will follow career paths that are open to them depending on where they have studied. For example, Berlin boasts a booming start-up scene, benefiting ESMT Berlin graduates with a new Master’s degree in Innovation and Entrepreneurship. Roland Siegers, Director of Early Career Programs at ESMT Berlin sees a clear trend. “Our graduates most often enter one of the many exciting start-ups in Berlin. They are looking for hot, fast-growing, dynamic companies with a start-up culture that allows them to use a variety of skills and quickly climb the hierarchy. Later, they either create their own business or move to more corporate firms such as consulting but in innovation or analytics roles. “
Neil Armstrong, Senior Manager of International Engagement and Career, notes that graduates from Durham University Business School in the UK continue to attract the financial sector, which has long been popular with business school graduates. “Financial roles are still the most popular among students. The largest percentage of our students move to the financial sector, followed by technology and consulting. Students also transition into a number of roles at the graduate level, including Marketing Specialist, Supply Chain Analysts, and HR or General Professionals.
At the Fuqua School of Business at Duke University, the 2021 Master of Management Studies Alumni Employment Report revealed similar career paths as in previous years. Consulting and finance remained the main industries among graduates, and 61% of full-time graduate positions are located in one of two sectors.
For the Master of Management degree at the Ross School of Business at the University of Michigan, more than 22% of graduates have followed the consulting path. Many graduates of the Master of Supply Chain Management and Master of Accounting studies have also entered the consulting and finance sectors.
“Graduates of the Master’s degree at ESMT are looking for hot, fast-growing, dynamic companies with a start-up culture… [+] that allows them to use a variety of skills and quickly climb the hierarchy.” Roland Siegers, Director of Early Career Programs at ESMT Berlin
Roland Siegers of ESMT also notes that start-ups are becoming more popular with graduates who usually held traditional roles: “There is a clear shift towards a more start-up career, away from traditional industry roles. In particular, the number of FinTech careers is growing as more and more students complete their studies with a business plan and the ambition to start their own businesses.
Siegers says the Covid-19 pandemic has also changed graduate expectations from employers. “In recent years, big names have become less critical, especially for local students; prefer to join an exciting project in a dynamic organization. Graduates, forced to work and study online, also require flexibility from employers ”.
In addition to consulting and finance, schools have also seen an increase in the number of graduates undertaking careers in healthcare. UCL’s UK Global Business School for Health, newly launched in 2021, focuses on this link between business management and healthcare by offering students a MSc in Biotechnology and Pharmaceutical Management, a MSc in Global Health Management, and a MSc in Digital Health and Entrepreneurship for students to accelerate their careers and become tomorrow’s global healthcare management leaders.
For students who are unsure of what path to take after graduation, business schools offer services that can help with this. Durham University Business School’s career services support students at all stages through personalized advice and guidance, putting their individual goals at the center of any discussion. “The school introduces students to the range of career opportunities available to them in all business sectors and how the labor market is driving demand. Students gain support in building their skills and effectively managing the digitization of the recruiting process, explains Neil Armstrong.
ESMT Berlin also presents students with potential career paths that they could pursue with their degree. “ESMT’s career department organizes many touchpoints with alumni from a variety of industries who can present different aspects of their chosen career paths,” explains Roland Siegers. “They also invite various companies to a recruiting event to enable our students to see which company culture works with them.”
At the Fuqua School of Business at Duke University, Sheryle Dirks, associate dean of career management, explains: “We don’t provide services and resources just to help students find jobs now. We want our students to leave Fuqua with career-building strategies and skills that they can use throughout their working lives. ”
Other business schools are starting to offer sector-specific master’s programs that are seeing rapid growth. The University of New Mexico Anderson School of Management offers an MSc in Cybersecurity and Business Analytics, providing graduates with skills that only seem to drive demand. Lisa Beauchene-Lawson, Head of Recruitment and Recruitment at UNM Anderson, says: “These are skills that are in great demand and I expect demand for such programs will continue to grow; it certainly has an upward trend in our institution. Data security is very complex and is constantly changing, so we must continue to evolve with this demand, especially with the Bureau of Labor Statistics, which is showing an increase in the positions of information security analysts. “
The MSc Product Management at Carnegie Mellon Tepper School of Business reflects a similar demand, but addresses a specific role: “Our former Dean of Computer Science was from Google,” explains Brad Eiben, MS Executive Director of Product Management, “and his observation was: “When I was at Google, we had a hard time finding good product managers, so let’s create them.” This program was born out of this idea. On Google, when they found a good software engineer, they called; When they found a good prime minister, they made a parade. It was so hard for him. That is why we build product managers for employers. “
“On Google, when they found a good software engineer, they rang the bell; When they found a good PM, … [+] they made a parade. That’s why we build product managers for employers. ” Brad Eiben, MS Executive Director in Product Management, CMU Tepper
Looking at past and current trends to understand what sectors are popular with graduate students is one thing, but what industries can graduates pursue in the future? It is important for Neil Armstrong of Durham University Business School to consider how the technology will continue to work across all industries and sectors. “Students see the potential for the future in technology companies and are becoming more and more interested in this area.”
This is an advance that Roland Siegers agrees: “Industries that will embrace change and transformation, both technological and cultural. Increased automation, digitization, artificial intelligence, etc. will affect all industries. So it is more a question of whether individual companies will meet these challenges.
Siegers also believes that sustainability will become an increasingly important area for future graduates: “I expect growth in sustainable energy production and green finance. Few of the graduates will find it attractive to work for fossil-fuel-only companies from now on. Graduates will want to see how persuasive these companies and industry strategies contribute to a more sustainable future. ”
The upcoming CentreCourt Masters festival reflects the dynamic and evolving graduate market as leading companies from around the world develop new programs along with recognized courses in management, finance and accounting.
So where do you want to put your career ladder?