The Wharton School MBA Employer Recruiting Policies We are pleased

The Wharton School MBA Employer Recruiting Policies We are pleased to announce Wharton’s 2006-2007 recruiting policies. These policies have been developed with input from recruiters, students and faculty/staff. These policies apply to all employers who are seeking to hire Wharton students. We believe these policies optimize employers effectiveness when recruiting Wharton talent and enable a productive and positive experience at Wharton. Our policies cover the following topics: Interview and Event Scheduling Class Attendance Recruiting Blackout Periods Recruiting Events Second-Year Events Combined First- and Second-Year and Targeted First-Year Events Timing of First-Year Club Events Second-Year Interview Dates Second-Year Interview Offers First-Year Interview Dates First-Year Interview Offers Student Multiple-Offer Guideline Wharton Grade Disclosure Policy Employer Communication Best Practices Rescinded Offers and Delayed Start Dates Enforcement of Recruiting Rules Interview and Event Scheduling NEW Class Attendance Class attendance is mandatory, according to Wharton’s academic policy. Students may not miss class for interviews, recruiting events or travel related to those activities. Employers cannot require a student, as a condition of his or her employment candidacy, to interview at a time that conflicts with his or her individual academic schedule. An employer's inflexibility on this issue will be considered a violation of Wharton's recruiting policies. MBA Career Management recommends that all second-round interviews take place on Fridays and Saturdays to avoid class conflicts. Recruiting Blackout Periods The following is a list of blackout periods during the 2006-2007 recruiting season. No recruiting events or interviews may take place during these times, with the exception of October 18 – 24, at which time second-year only events and interviews may occur: • • • October 18 – 24, 2006 (Final exams for first-years – this blackout period applies to first-years only) November 23 & 24, 2006 (Thanksgiving Holiday) December 8 – 20, 2006 (Reading days and final exams for fall semester classes) Winter break begins on December 21, 2006 and runs through January 8, 2007; no on-campus recruiting events will be held during this time 1 The Wharton School, 2006-2007 Employer Recruiting Policies • • February 27 – March 2, 2007 (Reading days and final exams for Quarter 3 classes) April 23 – May 4, 2007 (Reading days and final exams for spring semester classes) To be more sensitive to the travel needs and budget constraints for international operations, special consideration for Asia-Pacific and European interview dates, schedules and locations will be considered with prior notification and approval from the Director of MBA Career Management. Second-round interview exceptions will also be considered with prior notification and approval from the Director of MBA Career Management. No special exceptions to Wharton offer date policies will be made. Recruiting Events For purposes of this policy, recruiting events are defined as including, but not limited to: any event on campus or off campus, any general/ targeted meetings or phone calls, emails (except for general notifications of upcoming events/presentations), resume requests, prospective candidate dinners (including small, targeted dinners), lunches, breakfasts, social events, and open and closed events. NEW Second-Year Only Events Second-year only (full-time) recruiting events begin on Friday, September 15, 2006. Please be sure to refer to the complete list of blackout dates above when scheduling your second-year recruiting events. Companies targeting second-year students may participate in either a Second-Year Only Networking Expo or a combined first- and second-year Employer Information Session, but not both. First-Year Only and Combined First- & Second-Year Events First-year and combined-years Employer Information Sessions, as well as pre-approved, educational (non-evaluative) club events and treks may begin on Wednesday, October 4, 2006. Furthermore, first-year resumes cannot be requested until October 4, 2006. NEW Timing of First-Year Club Events In order to allow first-year students ample time to settle in to their academic schedules and better prepare for the recruiting process, first-year targeted single-firm or recruiting events such as, but not limited to, coffee chats, Days on the Job, private/invite-only receptions, case competitions, etc. cannot begin until Thursday, October 26, 2006. Furthermore, first-year resumes cannot be requested until October 4, 2006. All recruiting events must be coordinated through MBA Career Management or student club leaders to ensure effective communication. Second-Year Interview Dates The following rules will apply to second-year interview dates: Second-year interviews will begin on Friday, October 20, 2006 and continue throughout the year. There will be no formal interviews prior to October 20, 2006. There will be a Focused Interview Period (FIP) from October 20, 2006 through October 27, 2006 (including Saturday, October 21, 2006, but not Sunday, October 22, 2006). There will be no interviews on Thursday, November 23, 2006 and Friday, November 24, 2006, for the Thanksgiving Holiday, and between Friday, December 8, 2006 and Monday, January 8, 2007 for the winter break. The Wharton School, 2006-2007 Employer Recruiting Policies 2 Second-round interviews cannot take place until Tuesday, October 24, 2006 or later. In order to facilitate second-round interviews, students should be offered at least one alternative day that does not conflict with the student’s academic schedule. Second-Year Offers The following rules will apply to second-year offers: To allow students and employers sufficient time to properly consider various opportunities, we have established a second-year MBA Earliest Offer Day. Second-year full-time offers (verbal or written; accepts and non-accepts) cannot be made until this Earliest Offer Day, Tuesday, October 24, 2006 at 9:00 am EDT (with the exception of offers to a firm’s summer interns). Since no offer can be made prior to October 24, 2006, 9:00 am EDT, no second-year student can accept an offer before October 24, 2006, 9:00 am EDT (with the exception of a firm’s summer interns). Students cannot be required to indicate acceptance of an offer until a written communication (i.e. mailed letter, fax or e-mail) is received. Second-years must be given until Friday, December 8, 2006, or three weeks from the date of the written offer, whichever is later, to respond to offers of employment. Second-years who are extended full-time offers from their summer internship must be given until Friday, November 17, 2006 or three weeks from the date of the offer, whichever is later, to respond to their summer intern employer’s offer. Offer letters must reflect the above dates. First-Year Interview Dates The following rules will apply to first-year interview dates: The first-year Dedicated Interview Period (DIP) will begin on Friday, January 26, 2007 and end Friday, February 2, 2007. Interviews will take place each day during this period with the exception of Sunday, January 28, 2007. No interviewing of first-year students may occur prior to January 26, 2007. This includes on- and off-campus interviews. Interviews occurring after DIP should be scheduled on Fridays throughout the academic year. In order to provide all Investment Banks (IB) with an equal opportunity to interview first-year students, first-round IB recruiting will occur on Monday, January 29, 2007 and Tuesday, January 30, 2007. There will be no first-year IB interviews, either on- or off-campus, prior to January 29, 2007. Divisions of a single IB may select different first-round interview days between these two dates (for example, Corporate Finance/M&A may select Monday while Sales and Trading may select Tuesday.) Second-round interviews for IB with first-round interviews on Monday, January 29, 2007 can only take place on Thursday, February 1, 2007 or later. Second-round interviews for IB with first-round interviews on Tuesday, January 30, 2007 can only take place on Wednesday, January 31, 2007 or after Thursday, February 1, 2007. All interviews during DIP, including second-round interviews, must take place in Philadelphia to avoid scheduling conflicts. After DIP, companies may conduct interviews at their offices outside of Philadelphia. In order to facilitate second-round interviews during DIP, students should be offered at least one alternative interview time for second rounds. Outside of the DIP timeframe, students should be offered at least one alternative date for second-round interviews that does not conflict with the students’ individual academic schedule. The Wharton School, 2006-2007 Employer Recruiting Policies 3 No recruiting events (i.e. EISs, dinners, etc.) can take place between the start of a company’s first-round interviews and Monday, February 5, 2007, 8:00 am EST. NEW First-Year Interview Offers The following rules will apply to first-year offers: To allow students and employers sufficient time to properly consider various opportunities, we have established a firstyear MBA Earliest Offer Day. First-year summer internship offers (verbal or written; accepts and non-accepts) cannot be made until this Offer Day, Monday, February 5, 2007 at 8:00 am EST. Since no offer can be made prior to February 5, 2007, 8:00 am EST, no first-year student can accept an offer before February 5, 2007, 8:00 am EST. Students cannot be required to indicate acceptance of an offer until a written communication (i.e. mailed letter, fax or e-mail) is received. First-years must be given until Friday, February 23, 2007 or two weeks from the date of the written offer, whichever is later, to respond to offers of employment. Offer letters must reflect these dates. Student Multiple-Offer Guideline In order to allow an employer an opportunity to fill an open position with another student, students (both first-year and second-year) should hold no more than three formal offers at a given time. If a student subsequently receives a fourth or any additional offers, one or more should be released within two business days of getting this additional offer so that the student holds no more than three offers. This guideline is listed for employer information only; compliance with the multiple offer guidelines will be the responsibility of the student. NEW Wharton Grade Disclosure Policy The Wharton School has adopted the following policy on grade disclosure, to apply to MBA classes entering in fall 2006 and beyond: “Wharton students are free to disclose any aspect of their own academic transcripts to prospective employers or any other interested parties, and are encouraged to do so. Such disclosure [by the individual student] is a legal right and it is Wharton policy to protect this right. Prospective employers are free to request from students any aspect of their academic transcripts.” Employers should be aware that students may mention a grade nondisclosure policy adopted by Wharton Graduate Association (WGA), the student government. The WGA position does not reflect Wharton policy and, while it urges nondisclosure, it does not prohibit individual students from disclosing grades. Employers should also be aware that Wharton has changed its grading system starting with MBA classes entering in 2006. Details can be found at http://employer.wharton.upenn.edu/recruiting/wgs.cfm. Employer Communication Best Practices Although the following are not official Wharton recruiting policies, we have compiled some recommended best practices for employer communication. For full-time recruiting, employers are requested to communicate a candidate’s status (second-round invite, offer, decline or hold) back to the student within three weeks of the interview date, resume drop deadline or job posting deadline. Employers are also strongly encouraged to finalize and communicate full-time offers to the Class of 2007 summer interns prior to starting full-time recruiting. For intern recruiting during and after the The Wharton School, 2006-2007 Employer Recruiting Policies 4 Dedicated Interview Period, we recommend that a company notifies all first round interview candidates of their status (second-round invite, offer, decline or hold) at the same time. Finally, for both full-time and intern recruiting, employers should include all candidates on their interview schedule in any events held the night before the interview. Rescinded Offers and Delayed Start Dates Rescinded offers and delayed start dates have a deleterious effect on both the student involved and the company’s reputation and relationship with Wharton. In order to minimize the instances of these situations we strictly enforce the policies that cover rescinded or delayed offers. Once an offer (verbal or written) is made to a student, it cannot be withdrawn or it will be considered a violation of the Wharton Recruiting Policies. If a company believes it has a valid reason to withdraw its offer, it can appeal its rule violation to the Director of MBA Career Management. The penalty for rescinding an offer will be up to the equivalent of two rule violations. Delayed start dates will not be considered rescinded for a period of up to four months from the original start date for permanent positions (if no start date was given, up to eight months from the graduation date); subsequently they will be treated as rescinded offers. Enforcement of Recruiting Policies Should a company violate Wharton's recruiting policies, the following corrective steps will be taken: • A first-time violation will result in a letter from the Director of MBA Career Management to the senior management of the company informing them of the guideline violation and the company will be immediately placed on probation. Written company confirmation of the violation notice and associated probation is required. A second-time violation will result in restricting the company's access to students, including but not limited to panel/industry discussions, Employer Information Sessions, club events and conferences or other general recruiting activity. A third-time violation will result in a meeting between Wharton and company senior management, and potential exclusion of the company from any on-campus recruiting activity at Wharton for a period of one year. If there are no subsequent violations within a two year period of any violation, the company will be removed from probation. Violations will be fully communicated to the Wharton community and listed on our internal website for a three year period. • • • • The goal of these recruiting policies is to provide all employers with a level playing field and a fair process that takes into consideration the needs and requirements of our students. We have also created and implemented a set of policies that govern student behavior throughout the on-campus (On-Campus Interview Facility, Huntsman Hall) and offcampus recruiting process. These policies include procedures for walk-in interviews, interview swapping, cancellations, late cancellations, no-shows and reneging on accepted offers. Students are subject to penalties for violation of these policies. Employers who conduct interviews off campus are requested to notify MBA Career Management of all student interview cancellations, late cancellations and no-shows. We believe that the combination of the student and employer policies will allow employers to develop a valuable long term relationship with Wharton and will provide students the maximum number of interview opportunities. We are excited that you are recruiting Wharton talent into your organization. Please contact your Recruiting Relationship Manager or the Director of MBA Career Management if you have any questions or need any additional information about these recruiting policies. The Wharton School, 2006-2007 Employer Recruiting Policies 5