5 Career Advancement Tips MBA Students Should Know

Finding the right career path can be a daunting task. That’s where experts, like notable higher education leader Maggie Tomas from the University of Minnesota Carlson School of Management, step in.

Tomas is the director of the Carlson School’s Graduate Business Career Center, where she leads a team of career coaches with a proven track record:

95% of the 2021 full-time MBA graduates received employment offers within three months after graduation with an average starting base salary of $112,235.
The average starting base salary for 2021 part-time MBA graduates was $111,477 —marking an average salary increase of 50% from when the students started the program.

Her team’s dedicated attention provides students and alumni with the support they need to land a job or internship to elevate their careers. Tomas shares the following five key tips for MBA students to get on the right track.

Set your inner compass.

Be honest with yourself. What is it you want? What are your strengths? What do you bring and what are you looking for? Set your inner compass as your guide because it can get tempting to bounce around and see what all your friends are doing.

Our team strives to make sure students feel supported in their unique job search. Whether that’s a Fortune 500 company, an entrepreneurial opportunity, or a smaller mission-driven organization, our coaches offer their one-on-one support and real-world advice along the way. Our coaching staff includes 20 contracted coaches currently working in a given industry who can provide practical, up-to-date knowledge. Those resources on top of the resume and interview training help our students gain the confidence they need to stand out.

Networking is quality, not quantity.

The Carlson School’s Graduate Business Career Center offers more than 200 events a year, including career fairs, panels, workshops, and site visits. Students are encouraged to absorb as much as they can, but be strategic in order to avoid getting overwhelmed.

A lot of people think it’s just extroverts who are going to be good at career fairs and building connections. However, the best networking is done thoughtfully when you’re focused on just that one person making that one connection. It’s not about the quantity of network you have, it’s about the quality. If you just focus on relationship building, you’ll be successful and introverts tend to be really great at that.

Don’t talk yourself out of an opportunity.

The so-called traditional idea of a “business person” does not exist. MBA students can sometimes self-select out of certain industries because they feel there’s a certain type of background that fits with it. What we’re learning more and more is there’s not necessarily a typical background anymore for any position.

Employers are really willing to meet students where they are and let students tell them their true stories. As long as students are putting in the work, there’s not a certain “right” type of profile for any specific job.

Consider the growing number of remote options.

One of the things the COVID-19 pandemic has done is open doors to where your job or internship is based because so many companies are offering remote work opportunities. A lot more companies are open to students located anywhere, which is really exciting. It’s opening students’ minds about where they could be located or where their position could be located.

The Carlson School Graduate Business Career Center is tracking if a position has the ability to be remote, hybrid, or in-person only. That way students can better tailor their search for what fits their lifestyle.

Do your research before job negotiations.

Reflect on and prioritize your goals for negotiating and make sure to talk to your career coach. The career center can provide benchmarking and data to help you make your case. We track student outcomes and provide historical benefits and compensation information. Also, know what your motivators are. Our coaches often suggest students think beyond just annual salary and consider PTO, flex work options, benefits, and bonus options as well.

When asking for a promotion, ensure you show that your job has either changed in some way or you are doing more work and your scope has increased. During the discussion, you always need to provide enough information to build a strong rationale for the request.

As students navigate through these challenges and more, the Carlson School’s Graduate Business Career Center serves as a constant partner. Coaches work to create an individualized experience to equip each student with the resources to succeed as they define their career path and a new generation of business.

Phil Miller is an experienced business leader, educator, and coach. He serves as Assistant Dean for MBA and MS Programs at the Carlson School of Management at the University of Minnesota. He leads the teams responsible for the entire student lifecycle (recruitment/admissions, student placement/life, and career development/placement) for more than 1,300 MBA and Master of Science students.

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