Market Insights – Fall 2020
Despite the chaos in the world around us, all market indications signal that employer demand for Sloanies is strong. On a macro level, according to the recent GMAC Report, despite COVID’s impact on the economy, 89% of employers intend to hire MBAs because of the strategic thinking, communication skills and versatility of graduates. Looking inward, these positive trends are confirmed across the MIT Sloan portfolio, with our expanded business development team reporting positive signals from traditional “highway” organizations as well as emerging “dirt-road” employers and “jungle” start-ups. If our recent MFin and MBA/LGO Networking Nights are any indication, overall employer engagement is consistent with pre-pandemic levels and internship and full-time postings are strong. Mark Newhall, our Director of Employer Relations looks forward to sharing regular “Mark-et Updates” on Your CDO, so stay tuned. His team is proactively reaching out to the organizations YOU shared in your career interest surveys, so please continue to share your aspirational employer lists with our team to help focus our outreach efforts on your behalf.
Market Trends – Accelerated Timelines and/or Exploding Offers
While Sloanies are very much in demand, we are clearly operating in an employer-driven market. Employers are increasingly calling the shots and, in some cases, shifting long-established campus recruiting practices. In particular, we are seeing some employers (including McKinsey, BCG, and Bain) shorten the amount of time for consideration of full-time offers, outside of the agreed upon timelines stated in our Recruiting Policies. These are disappointing trends as the CDO believes that it is in the interest of both students and employers that candidates have adequate time and information to make thoughtful and informed decisions about employment offers. We have elevated our concerns to top executive alumni at these firms.
What can you do if faced with an offer with an accelerated timeline? Please do not suffer in silence! We encourage you to schedule an advising session for a holistic review of your offer and personalized guidance on your unique decision making process. Our student-centered policies ensure that any employer not honoring the offer acceptance deadlines assumes any risk that a student may reconsider their decision, and that any student who accepts an offer under these circumstances will continue to be eligible to receive all benefits and resources of the CDO. However, we hope that, in this volatile and uncertain time, you will press pause to reflect upon your offer(s) and process these significant career decisions with a CDO coach. We are here to help you take the next step. Taking the time to reflect and discuss your goals before making a commitment can help you discern the best way forward.
Assistant Dean, CDO
CDO’s Career Insights Blog features timely information to support your career planning and decisions.