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Friday, January 25, 2008

London Business School Releases 2007 MBA Employment Report

Yes, right now you’re focused on getting into business school. But soon enough you’ll be every bit as obsessed with what to do once you get out. What will your job prospects be? How much money will you make? What industry should you enter?

The London Business School (LBS) this week released its annual MBA employment report, which provides a glimpse of the career choices open to its 2007 graduates, as well as the summer plans of its 2008 MBA class. Good food for thought for prospective applicants, whether LBS is among your target schools or not.

The U.K. school proudly announced that a full 97 percent of its 2007 MBA class had accepted job offers within three months of graduation. Of these, 46 percent chose to enter the investment banking field, 31 percent were drawn to global industry and 23 percent opted for management consultancy positions. Of note, the 2007 class also proved to be LBS’s most entrepreneurial in recent years, with 5 percent of graduates starting their own venture after graduation.

Last year’s first-year students weren’t slackers either, according to the report. Every member of the 2008 MBA class secured a summer internship, and 11 percent took on more than one (up from 6 percent the year before). Of the 2008 MBA class, 57 percent chose internships in the financial services, 27 percent in global industry and 17 percent in management consultancy.

Major recruiters for both graduates and interns included the Barclays Group, which hired 17 graduates and 19 interns, and Lehman Brothers, which hired 11 graduates and 15 interns. Among management consultant firms, Booz Allen Hamilton was the top recruiter, hiring 15 graduates and 11 interns.

Interestingly, despite an undeniably international student body – LBS’s students hail from 130 different countries – the vast majority of students chose to stay put after graduation. “It was apparent that London continues to be the hotspot for financial roles as demonstrated by close to 70 percent of the class choosing to work in London,” said Diane Morgan, director of career services, about the 2007 graduates.

LBS’s Career Services Department works hard to connect its students with job opportunities upon graduation. In the past year, the department has devoted particular focus toward diversifying recruitment among financial services firms. It also introduced a new service in June 2007 called Career Central, an online recruitment system that provides a one-stop shop for students who need to create CVs, search job postings and schedule presentations and interviews.

In addition to specific employment information, the LBS report also provides general demographic information about the 2007 and 2008 MBA classes. According to these statistics, the number of female students is on the rise. Of the 2008 MBA students, 28 percent are female, a 6 percent increase over the 2007 class. To view the complete report, click here.

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