MBAS8 Contents V6 19.02.08.qxd 25/3/08 11:56 Page 2
Contents
Editors’ Desk
As The Guide goes to print, much of the talk in
Careers for MBAs in technology,
the business world centres around the threat of
a recession or at least a slowdown resulting
industry, consulting and finance
from the US credit crunch. Some areas of
banking may see short-term cut backs in MBA
hiring, especially Credit Derivatives, M&A,
Private Equity, and Asset Management.
CAREER SECTION
However, feedback from employers in banking
and in most other sectors is that the need for
internationally mobile management talent is
8 Salary Gap
Nunzio
Research shows that the salary gap between MBAs and non-MBAs in
greater than ever and unless the US dips into
increasing year by year and catching up with the US and UK highs
Quacquarelli,
a severe recession, the prospects for 2008/9
MA Cambridge, recruitment are positive.
10 Credit Crunch
MBA Wharton
How is the US credit crunch going Editor in Chief
In this edition of the Guide we feature interviews
to affect MBAs in Financial Services
with HR managers, or senior executives from a
employment in the US; and will this variety of sectors; A.T. Kearney, Goldman Sachs,
have a knock on effect overseas?
Standard Chartered, BT, Cap Gemini and IBM.
Ross Geraghty
Hiring intentions and growth opportunities
12 Inside Outside USA
MA London Institute,
are highlighted, combined with discussions of
America is still the world’s number one destination for MBA graduates
key issues affecting major corporations today.
but how easy is it to work there and what are the difficulties non-nationals
Managing Editor
Corporate Social Responsibility (CSR), Diversity
face in working there ross@qsnetwork.com
and Sustainability are some of the biggest buzz-
words in the business world today and some of
14 Regional Focus - Singapore
the companies featured are leading from the front. Deans from leading busi-
The Asian city state has developed into one of the world’s top destinations
ness schools around the world reinforce the importance
for MBAs to live and to work. The TopMBA Career Guide finds out why
of ethics, sustainable development and social responsibility within the busi-
ness practices they cultivate
17 The Language of Business
It’s important to try and follow conventions when doing business overseas,
but are you really going to lose out if you fail to slurp your noodles in Japan?
There will be many MBA Applicants reading this guide who are
18 Technology
considering whether to further their careers or switch careers with an
The Internet as help or hindrance resulting in the
MBA. Maybe you’re thinking of waiting a year or two longer to see
end of human intelligence as we know it?
how the global economic outlook develops? Our advice is: don’t wait!
The Guide take a look at the big moves and
changes on the world-wide Interweb
All indications suggest that MBA holders are in by far the best position
to ride any economic downturn, for several reasons: During their studies
46 Career Changers
they will be sheltered from inevitable corporate lay-offs which are a feature
Many people take an MBA in order to make a complete change in their of a recession. They will graduate in the Summer of 2010 or 2011 with a
careers and jobs for life are increasingly rare. The Guide’s expert advises on new set of skills, into a market which may perhaps have moved beyond
the career change phenomenon
recession. Even if a recession is prolonged, graduating MBAs will come
into contact with employers on campus who seek a regular annual intake of
50 Soft Skills MBAs, specifically designed as a leadership talent pool for the future.
Recruiters worldwide are saying that MBAs possess great hard skills – such as
finance and strategy – but lack the soft skills recruiters say they need. What
In the Guide, you can read advice from Test Prep experts on how to
are ‘soft skills’ and how can you get them?
maximize your GMAT score. There are tips on how to select the right
school and how to improve your chances of admission, as well as key
DIVERSITY, CSR AND
input on financial aid and scholarships.
SUSTAINABILITY
Research shows that, in two companies offering similar roles with similar
salaries, MBAs are significantly more inclined to apply for a role with the
21 Controversial Industries
company with the best perceived ethical policies. In line with this, QS has
Some MBAs are turning away from more controversial industries such as oil,
taken a lead by offering Community and Leadership Scholarships to anyone
Tobacco and arms. We look at why, and what those industries are doing
attending a QS World MBA Fair. If you attended the QS World MBA Tour
about recruiting talent and have not applied yet, do so by completing the application survey at:
www.topmba.com/scholarships.
24 Humanitarian Corporate Development
No it’s not an oxymoron. Big businesses and their employees are finding The Guide reflects the importance of this ethical movement with a number
fulfilment spending time and resources on sustainable development around
of articles and interviews on the subject: the increasing influence of law on
the world
diversity in business; the impact of the United Nations Global Compact; the
efforts being made by controversial industries to attract talented leaders;
28 Diversity
MBAs using their skills for non-profit and NGOs in the world’s far-flung
No longer just a politically correct buzzword, diversity is here to stay and
places. We believe this is not a flash in the pan movement but that it will
what’s more, it has the law on its side for those companies who refuse
have long term career implications for MBAs wherever in the world they are.
to play ball
30 Non-Profit MBAs
There are several ways of using your MBA skills in the world’s poorest
regions and increasing numbers of MBA courses are including this content
in their core programs
2 TopMBA CAREER GUIDE www.topmba.com
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