MBA Program Recruiter Guide Placement Report Web http mba utk

MBA Program Recruiter Guide & Placement Report 2008-2009 Web: http://mba.utk.edu E-mail: mbacareerservices@utk.edu ArchwAy to A New erA Shattering Expectations The University of Tennessee, Knoxville, MBA Career Services team hears the same phrases year after year from corporations currently employing UT Knoxville MBA graduates: UT Knoxville MBAs • are leaders that understand customers • have the tools to exceed customers’ expectations • have a ‘roll up your sleeves’ attitude • hit the ground running • have functional expertise • can work across diverse groups Our MBA interns and graduates constantly strive to shatter their employer’s expectations and thrive in a number of business environments. Among the many assets employers find in our diverse classes of interns and graduates are a strong work ethic, excellent communication and analytic skills, the ability to work in teams, and willingness to relocate. Employers recruit from our program again and again, citing our graduates’ accomplishments, high retention rates, and rapid career advancement. Because of these strong core values, Forbes Inc. ranked the UT Knoxville MBA Program the 24th full-time MBA program in the U.S. in its 2007 “Best Business Schools” issue. Forbes Inc. also cited our program as being a top10 MBA program for public universities. Besides our full-time program ranking, our Supply Chain Management/ Logistics Program was ranked 8th in the nation by U.S. News & World Report. http://mba.utk.edu We believe such rankings confirm that our program is delivering superior value—that our innovative and integrated curriculum is successfully reaching our goal of educating high-potential people to become global leaders. Do not miss out on the opportunity to recruit a future leader in your organization. Please contact us to plan an effective recruiting strategy to reach our UTK MBAs. We eagerly look forward to working with you to recruit the best talent in the Southeast! Sincerely, The MBA Career Services Team of the University of Tennessee, Knoxville 2 2008-2009 recruiter guide & placement report Rankings Update #9 Public University MBA Program and #24 overall MBA program in U.S.—2007 Forbes Best Business Schools #6 Value for Money in U.S.—Financial Times’ 2006 Global Business School Rankings #7 MBA in the Southeast—2005 Wall Street Journal’s Guide to Business Schools #8 Supply Chain/Logistics Program—2007 U.S. News & World Report Guide to America’s Best Graduate Schools DISTInCTIOnS OF ThE MBA PrOgrAM Rankings. For the past several years the MBA Program has been listed in the top business-school rankings by major publications, among them Forbes Magazine, the Wall Street Journal, U.S. News & World Report, Business Week, and the Financial Times. We have been listed as one of the top MBA programs in America for both private and public universities (Forbes), one of the top programs in the South (WSJ 2006), one of the top supply-chain and logistics programs in the country (Supply Chain Management Review AT ThE UnIvErSITy OF TEnnESSEE, KnOxvILLE and U.S. News & World Report 2007), and as a top-ranked U.S. program in “Value for Money” (Financial Times 2006). Faculty. Our world-renowned faculty not only challenges students in the classroom, its members also consult directly with some of the world’s finest companies to address business-critical issues. Their consulting experience, along with their industry-leading research, enables their students to see course content applied to live cases. Our faculty 2008-2009 recruiter guide & placement report members also collaborate across departments to create an integrated learning environment that mirrors today’s business world. innovative FoRmat. Our MBA programdelivery calendar is not a traditional one: our students earn 45 credit hours in only 17 months. This unique schedule can speed our interns back to their internship employers in just 4 months. This intensive delivery mode was designed to emulate industry’s time constraints so that our students are well prepared to re-enter the workforce immediately upon graduation. cuRRiculum. Our innovative curriculum was designed to meet the needs identified by today’s business practitioners. The core curriculum’s content includes the information and analytical skills that every successful manager needs. The MBA Program also reflects the reality that in global business, individual functions are not isolated from the effects of a company’s other processes, so we teach the various functions in relation to one another. In our integrated value-chain approach, for example, students learn to analyze business issues beyond the context of a single company to include both suppliers and customers as key elements of a business model. And our leadership-development track prepares students to lead by focusing tightly on communication, project management, and career development. academic specialties. The curriculum offers four primary concentrations: finance, logistics, marketing, and operations management. Many of our motivated students customize their schedules to graduate with two concentrations. The University of Tennessee, Knoxville, also offers three dual-degree MBA options: a JD/MBA with the College of Law; MS/MBAs in product development with the College of Engineering; and an MS/MBA in sport management with the College of Education, Health, and Human Sciences. The MBA Program has a unique secondary concentration called “Innovation and Entrepreneurship.” This concentration gives our students the skills to lead innovative organizational change in both the public and the private sectors, including for-profit or social-cause start-ups, with the collaboration of UTK, ORNL, Tech 2020, local venture capitalists, and entrepreneurs. Combining this secondary concentration with finance, marketing, operations, or logistics allows students to focus their career aspirations more tightly. Since its inception in 2004, 116 students have completed more than 13,092 hours of consulting work for 36 organizations such as the Tennessee Theatre, the Knoxville Opera, the Arts Alliance, Protein Discovery, PetroGreen, and Telesensors. accReditation. The College of Business Administration of the University of Tennessee, Knoxville, is fully accredited by the Association to Advance Collegiate Schools of Business International. AACSB accreditation is the ultimate business-school certification. 3 http://mba.utk.edu MBA CArEEr SErvICES—yOUr PArTnEr The Career Services staff of UTK’s MBA Program works directly with the world’s leading business organizations to help them meet their recruiting goals. seRvices. The MBA Career Services team is dedicated to helping your organization identify and hire the best students while ensuring that you maintain your reputation as an employer of choice. We will become familiar with your specific needs and offer individualized attention to your organization. We will also prepare our students for your recruiting visit to streamline the process and allow you to spend more time evaluating candidates. RecRuiting on campus. Conducting oncampus interviews is one of the best ways to solidify your brand as an employer of choice among our students. To help ensure that your on-campus recruiting is effective, For more inFormation. Please visit the Ut Knoxville mBa Program Web site, located at http://mba.utk.edu. we can tailor a plan for you that includes a combination of recruiting events, as well as one-on-one interviews scheduled to fit your itinerary. RecRuiting using ouR web-based system. MBA Career Services and UTK’s Career Services have affiliated with Symplicity to give you constant access to students’ resumes, job postings, and interview schedules through the tailored Hire-a-Vol system. This system allows you to manage all of your recruiting efforts at the University of Tennessee effectively—for both undergraduate and MBA students. Using the Hire-a-Vol system for UT Knoxville is free, and it allows you to set your own username and password to post your jobs and search for qualified recruits. If you recruit at other schools that also use Symplicity, you can set up a master account that will allow you to manage your recruiting activity at all those campuses from the same portal. To register to use Hire-a-Vol at UT Knoxville, please contact our office. staFF cRedentials. UT Knoxville MBA Career Services team members are members of the MBA Career Services Council (MBACSC), which is the governing body of MBA career-services professionals, both in the U.S. and around the world. This organization helps to set standards for reporting placement and salary data. All information in the following placement report conforms to the guidelines and principles set by MBACSC. http://mba.utk.edu PLAnnIng yOUr oN-cAmpus recruitiNg vISIT Each year hundreds of employers from across the country come to Knoxville to interview students from the University of Tennessee for full-time and internship positions. With more than 20 interview suites, the facilities of UTK’s Career Services can accommodate most employers’ busy recruiting schedules. The 220-square-foot suites allow confidentiality, as well as sufficient space for candidates to meet with several interviewers at the same time. schedule youR RecRuiting eaRly. Most of our students aim to firm up their postMBA employment plans before they graduate (in December), so savvy employers usually extend full-time offers by late October through early December to avoid losing firstchoice candidates to the competition. For example, 76% of seeking students were placed before their December graduation. Full-time RecRuiting. On-campus interviewing officially begins on the first Monday in October. However, interviews may also be scheduled for the day immediately after the MBA Job & Internship Fair on September 19. inteRnship RecRuiting. On-campus interviewing can begin as early as the fall semester, but most employers choose to interview internship candidates at the beginning of spring semester—February—and conclude interviewing by the end of April. Please contact MBA Career Services to make sure that your proposed recruiting date does not conflict with our students’ exam schedule or other academic commitments. inteRview schedules. Interview schedules typically begin at 8:30 a.m. and wrap up by 4:45 p.m., including a 75-minute lunch break and several mini-breaks. You may customize your interview schedule to fit your itinerary, but most employers choose among our 30-, 45-, and 60-minute interview schedules: 4 2008-2009 recruiter guide & placement report 2008-2009 recruiter guide & placement report MBA FALL JOB FAIr EMPLOyEr PArTICIPAnTS, 2006 AnD 2007 Accountemps/Robert Half Finance and Accounting Alpha Natural Resources American Standard BB&T Brunswick Corporation/ BBG/Sea Ray Boats Burke Inc. Cummins Inc. Dell Inc. Dollar General Corporation Eastman Chemical Company Emerson FedEx Express Financial Planning FedEx Services Federal Bureau of Investigation Gaylord Entertainment Company Home Depot Honeywell International Truck and Engine Corporation Johnson & Johnson Vision Care Inc. Knoxville Utilities Board LeBlanc Financial Group Lowe’s Companies Inc. Nissan North America Northwestern Mutual Financial Network Nova Information Systems Pershing Yoakley & Associates PetSmart SC Johnson & Son Inc. Schindler Group/Elevator Corporation Schneider National Sonoco Products Company Strategic Financial Partners Target Stores Temple-Inland Tyco Electronics Union Pacific Railroad UnumProvident Corporation U.S. Social Security Administration UT–Battelle/Oak Ridge National Laboratory 5 30 miN. per iNterview . . . . . .13 slots per dAy 45 miN. per iNterview . . . . . . .9 slots per dAy 60 miN. per iNterview . . . . . . .7 slots per dAy mba Job & inteRnship FaiR. MBA Career Services hosts a September job fair exclusively for MBA students and MBA employers. This cost-effective event offers employers two key opportunities: (1) to identify December graduates for full-time positions, and (2) to evaluate the first-year MBA students for possible internships. The event usually draws about 30 U.S. employers, and it is a relatively relaxed, informal venue for meeting students. The $350 registration attendance fee covers two representatives from your company. avoid exploding oFFeRs. An “exploding” job offer is one that forces a student to respond quickly (in less than 7 days, for example) or risk having the offer rescinded. The MBA Career Services office strongly discourages placing such conditions on an offer. Students need to be able to ask for a reply-by date that will allow them to fulfill commitments to other interviewers and to discuss their career decisions with their families. Allowing students this flexibility will significantly reduce the likelihood that a job acceptance will be reneged. http://mba.utk.edu 2008 UT HoME FooTBAll ScHEdUlE (suBJect to chANge) UAB . . . . . . . . . . . . . . . . . . . 9/13 Florida . . . . . . . . . . . . . . . . . . 9/20 Northern Illinois . . . . . . . . . . . . . 10/4 Mississippi State . . . . . . . . . . . . 10/18 Alabama . . . . . . . . . . . . . . . . 10/25 Wyoming (Homecoming) . . . . . . . . . 11/8 Kentucky . . . . . . . . . . . . . . . . 11/29 SIgnIFICAnT dAtes FALL SEMESTEr 2008 First-year orientation . . . . . . . . . . . . . . . .8/4 First-year classes begin . . . . . . . . . . . . . .8/5 Second-year classes begin. . . . . . . . . . . . 8/20 UT Campus Fall Job Fair . . . . . . . . . . . . . 9/16 MBA Fall Job Fair . . . . . . . . . . . . . . . . 9/18 MBA on-campus interviewing begins . . . . . . . 10/6 Fall Break . . . . . . . . . . . . . . . . 10/9–10/10 Thanksgiving holiday . . . . . . . . . . 11/27–11/28 graduation ceremony . . . . . . . . . . . . . 12/12 First-year classes end . . . . . . . . . . . . . 12/12 SPrIng SEMESTEr 2009 First-year classes resume . . . . . . . . . . . . .1/7 Martin Luther King holiday . . . . . . . . . . . . 1/19 MBA on-campus internship interviewing resumes . .2/2 UT Knoxville Career Services Internship Fair . . . .2/4 UT Knoxville Career Services Career Expo. . . . . .2/6 Spring Break . . . . . . . . . . . . . . . 3/16–3/20 UT Knoxville Campus Spring Job Fair . . . . . . . 3/26 Classes end . . . . . . . . . . . . . . . . . . . 4/24 http://mba.utk.edu 6 CUMULATIvE STUDEnT profile The University of Tennessee’s strong reputation for delivering outstanding management education and exceptional career opportunities for our graduates and alumni continues to attract high-caliber professionals to fill our classes every year. This profile of our MBA students is cumulative, not specific to this year’s graduates. Demographic Data 2008-2009 recruiter guide & placement report Class size International Minority Female Average age Average undergraduate GPA Average GMAT Average previous work experience 1 year or less More than 1 year, less than 3 More than 3 years, less than 5 5 or more years Undergraduate Academic Backgrounds 91 14% 9% 25% 27 3.37 615 3.5 Years 28% 31% 15% 26% Business Administration Technical/Engineering Liberal Arts/Other 45% 10% 45% 2008-2009 recruiter guide & placement report DECEMBEr 2007 mBA grAduAtes’ compeNsAtioN The following tables summarize the compensation packages accepted by our December 2007 class. For details about the latest trends in compensation for MBA students, please contact MBA Career Services. Base salary, all accepted packages Mean . . . . . . . . . . . . . $71,932 Median. . . . . . . . . . . . $72,000 High . . . . . . . . . . . . . $130,000 Job function Finance Logistics & Operations Marketing Other Industry Consulting Financial Services Manufacturing Other Geographic region South Mid-Atlantic Midwest West Undergraduate major Business Technical Other Years of experience 1 or fewer 1 to 3 3 to 5 5 or more Portion of class (%) 15.0 44.0 18.0 23.0 Portion of class (%) 5.0 8.0 46.0 41.0 Portion of class (%) 66.7 10.3 15.4 7.7 Portion of class (%) 59.0 23.0 15.0 Portion of class (%) 38.5 38.5 12.7 10.3 Mean ($) 62,500 73,049 73,300 75,044 Mean ($) 73,500 68,166 76,996 66,744 Mean ($) 87,375 83,583 67,090 70,000 Mean ($) 72,587 75,038 65,786 Mean ($) 65,583 74,273 73,600 84,875 Median ($) 66,500 75,000 71,600 75,000 Median ($) 73,500 66,500 73,500 68,750 Median ($) 73,750 85,750 65,750 75,000 Median ($) 71,600 75,000 65,000 Median ($) 62,000 72,500 80,000 83,250 HIgh ($) 83,000 90,000 108,000 130,000 HIgh ($) 87,000 83,000 130,000 97,000 HIgh ($) 130,000 97,000 108,000 75,000 HIgh ($) 130,000 95,000 83,000 HIgh ($) 130,000 97,000 90,000 108,000 7 http://mba.utk.edu Signing bonus Mean . . . . . . . . . . . . . . $4,188 Median. . . . . . . . . . . . . $2,250 High . . . . . . . . . . . . . . $20,000 Salary by year 2003 . . . . . . . . . . . . . 2004 . . . . . . . . . . . . . 2005 . . . . . . . . . . . . . 2006 . . . . . . . . . . . . . 2007 . . . . . . . . . . . . . 2008 Forecast. . . . . . . $56,633 $62,185 $70,885 $67,440 $71,932 $73,500 This data complies with all reporting standards set by the MBA Career Services Council. Percentages are based on only those students who sought employment, 88.2 percent of the total number of students submitted usable base-salary data. Due to confidentiality, categories with less than 1 percent reporting are not listed, so some categories may not total 100 percent. timiNg ANd sources OF JOB OFFErS AnD ACCEPTAnCES timing oF oFFeR • 67 percent of respondents had received their first job offer before graduation. • 90 percent of respondents had received their first job offer within 3 months of graduation. timing oF Job acceptance • 50 percent of respondents had accepted a job on or before graduation. • 88 percent of respondents had accepted a job within 3 months of graduation. souRce oF oFFeR • 54 percent of respondents listed school-facilitated activities as the source of their new job (including on-campus interviews, faculty referrals, job fairs, consortia events, and internships). http://mba.utk.edu • 40 percent of respondents listed student-facilitated activities as the source of their new job (including friend and family referrals, direct applications, and company websites). • 23 percent of December respondents returned to their internship employer for full-time employment after graduation. 8 2007-2008 recruiter guide & placement report 2008-2009 recruiter guide & placement report employers of mBA grAduAtes, DECEMBEr 2007 Alstom Power Brambles, Ltd. Brunswick Boat Group Conversion Properties Cummins* Dell* Deloitte* Dent Investments DenTek Dollar General Eastman Emerson Excel Exxon Mobile* FedEx Express Fire House Subs Harman Music Corporation *Hired 2 graduates Hills Pet Nutrition International Paper* International Truck and Engine Jewelry Television John Deere Johnson and Johnson Vistikon Macy’s Meritus Venture Navistar P&G * Scripps Network Sears Holdings Corporation Siemens Target Tusculum College University of Tennessee 9 http://mba.utk.edu employers OF ThE yEAr For the past few years, the MBA Career Services Office has formally recognized our top MBA employers of internship and full-time students. Here are the most recent recipients of the Employer of the Year Awards. 2007–2008 Eastman Chemical Company International Paper Cummins 2006–2007 Dell Inc. Dollar General 2005–2006 Dell Inc. Procter & Gamble Temple-Inland 2004–2005 Lowe’s Companies Inc. Temple-Inland Citigroup 2003–2004 Jewelry Television by ACN Lowe’s Companies Inc. Schneider National mBA iNterNship rECrUITIng The UT Knoxville MBA Program is designed to give students experience outside the classroom in which they take the state-of-the-art business knowledge and analytical skills they have acquired and apply them in the marketplace. MBA interns are strategy-oriented, analytical, enthusiastic team players who can give your organization a fresh perspective on your businesscritical issues. Our MBA program’s students are known for their communication skills and their ability to roll up their sleeves and hit the ground running. inteRnship pRogRam FoRmat. MBA internships are typically 12 to 14 weeks long and take place from May to August after the students’ first year. Interns work full time (40 or more hours per week) as accountable members of your team. employeRs’ beneFits. The benefits of hosting our interns are evident in every UT Knoxville MBA resume book. Our interns have saved their host organizations millions of dollars by implementing efficiencies, identifying other cost reductions, and generating new revenue. Besides providing such an important aspect of a student’s education, you will have an early opportunity to evaluate potential full-time hires by witnessing their on-the-job performance as interns. RecRuiting ut knoxville mba inteRns. Internship recruiting is essentially the same process as full-time recruiting. Internship interviewing usually takes place in February. Second interviews or company visits often take place in late February and early March. Most of our MBA students receive internship offers beginning in early February and ending in April, but in 2005 and 2006, about 20 percent of our students had accepted internship offers before January 1. This compensation information is intended to help you plan your staffing budget, but it is a good idea to discuss salary expectations with students and negotiate internship compensation to ensure that your package is competitive according to students’ expectations based on current market trends. 2008-2009 recruiter guide & placement report http://mba.utk.edu 10 SUMMEr 2008 iNterNs’ moNthly compeNsAtioN Overall Mean . . . . . . . . $4,078 Overall Median . . . . . . . $4,000 Monthly salary by concentration Finance Logistics and Transportation Marketing JD/MBA-Business Transactions Operations Management Portion of class (%) 32.8 34.3 26.9 3.0 3.0 Mean ($) 3,723 4,657 3,538 5,040 5,000 Median ($) 3,840 5,000 3,560 5,040 5,000 High ($) 6,000 7,190 6,000 5,280 5,000 Monthly Salary by function Finance Marketing Operations Other Portion of class (%) 14.9 26.9 35.8 22.4 Mean ($) 3,727 3,661 4,792 3,572 Median ($) 3,840 3,600 5,000 3,840 High ($) 6,000 5,760 7,190 5,760 2008-2009 recruiter guide & placement report employers of mBA iNterNs, SUMMErS OF 2007 and 2008 3M ABB Abunga/Merits Venture Capital Acer Alcoa Howmet Baker, Donelson, Berman, Caldwell, and Berkowitz, U.S. Dept. of Justice Antitrust Blue Cross Blue Shield BWXT Y-12 Cardinal Health Caterpillar Cigna Cummins Dell DenTek Dollar General Department of Energy Eastman Finance Ev3 FedEx Services General Electric Home Depot Honeywell ImagePoint Innovation Valley Partners Johnson & Johnson Jewelry Television Medtronic Merits Venture Capital 4D Medical MK Technologies Moon Capital Management ORNL Procter & Gamble Perfect Serve Price Waterhouse Cooper Ryder Scripps Network Sonoco Stanford Financial Group Steelcase Summit Medical Tennessee Valley Authority Tyco Electronics 11 http://mba.utk.edu MBA Program K e y C o n ta C t s For MBA rEcrUITING or To ScHEdUlE oN-cAMPUS INTErvIEWS: molly B. Justice Director, MBA Career Services College of Business Administration 865-974-1973 molly@utk.edu tara J. mohrfeld Associate Director of Student Development College of Business Administration 865-974-1774 tmohrfel@utk.edu Nadiah Khan Associate Director of Student Development College of Business 865-974-1708 nkhalid@utk.edu For MBA ProGrAM INForMATIoN: dr. Amy cathey, director of the mBA program Lecturer, Center for Executive Education 865-387-5169 acathey@utk.edu donna potts Director, MBA Admissions 865-974-5033 dpotts@utk.edu MBA ProGrAM oFFIcE 527 Stokely Management Center Knoxville, Tn 37996 865-974-5033 Fax: 865-974-3826 http://mba.utk.edu The University of Tennessee is an EEO/AA/Title vI/Title Ix/Section 504/ADA/ADEA institution in the provision of its education and employment programs and services. PAn E01-1412-001-09. A project of the MBA Program of the University of Tennessee, Knoxville, with assistance from the Creative Communications, 865-974-0765. rev: 8911