Management Consulting #1 desired Industry
Date: 03-06-2008
Source: Consultant News
Management consulting remains the No. 1 desired industry for MBAs
For the second year in a row, MBA students chose Google as the No. 1 ideal employer (24%) percent of respondents), after it trumped powerhouse consulting firm McKinsey & Company's (16%) 12-year reign as No. 1. Goldman Sachs (15%) maintains its status at No. 3; Apple (14%) jumped to No. 4, and The Boston Consulting Group (12%) came in at No. 5 in the Universum Survey.
This year, 5,769 students from the nation's top 52 MBA programs participated in the 14th MBA Edition of the Universum IDEAL Employer Survey, making it the largest survey of its kind in the US. In the survey, students answered questions about their career expectations such as top industries, career goals, communication preferences, salary expectations, IDEAL employers and more.
Dot-coms felt the punch of a recession in 2001, but that isn't stopping Google from breaking a record for holding the highest percentage (23.54%) of students who chose it as an IDEAL Employer in the survey's history, breaking McKinsey's 23.44% record in 1999. Google's sexy image as an IDEAL Employer resonates among talented millennials due to their workplace perks, industry dominance, innovation and natural attraction of diverse talent.
"Smart MBAs know where they want to be in 5-10 years," says Claudia Tattanelli, CEO of Universum USA. "They look to strong companies like Google, McKinsey and Goldman Sachs to give them the experience and references needed to lay the path for their future career success, even with threats of a recession. At the same time, as true Millennials, they chose organizations that will offer a flexible and fun work environment, innovation and a good work/life balance."
Key Trends
- Management consulting (20%) remains the No. 1 desired industry, followed by financial services (19%), marketing/advertising (13%), consumer goods (12%) and investment banking (8%) - which dropped from 12% in 2007.
- MBA's top career goal is a tie (58%) between "being competitively or intellectually challenged" and "having a work-life balance" followed by "being a leader or manager of people" (55%), "being entrepreneurial or creative/innovative" (37%) and "being dedicated to a cause or to feel that they are serving the greater good" (28%).
- A year after graduation, MBAs are expecting, on average, a $90,232 salary and $180,030 after five years.
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