How Harvard MBAs Get Those Six-Figure Jobs

SOME 94% OF THE CLASS TAKES ADVANTAGE OF ONE-ON-ONE COACHING ON CAMPUS

By mid-November, most first year students have met with an HBS coach. Some 94% of the class seeks one-on-one coaching through the center, with students averaging two to three 40-minute sessions per year. Many of the coaches have MBAs from different business schools and more than half are working full-time professionals in a variety of industries. There’s an MD/MBA coach for those keen on entering health care, along with coaches who would have broader appeal to students who aren’t quite sure what they want to do.

“We make the biographies of all the coaches available and invite the students to choose a coach,” explains Murphy. “It could be based on their targeted industry or a speciality, and students can also change out a coach if they don’t hit it off with one. In fact, we encourage students to try one or two. It is a selection process, not a matching process. Most of the first year class chooses to sit down with a coach. They have unlimited access to a coach over the two years.”

But Harvard also offers other options. “We know there are some students who love one-to-one coaching, but we also have virtual programming for students to learn the basics of networking or how to prepare for an interview,” says Hutchison, who notes that the school has a library of 19 videos that explore all phases of the job search process. “If you try something that isn’t the right fit for you, then there are many other options.”

SECOND YEARS DO MOCK INTERVIEWS WITH NEWBIES TO PREP THEM FOR THE REAL THING

Then, in January, the careers team hosts prep days where second year students walk first year MBAs through mock interviews by industry specialization. On Jan. 18th, companies are allowed to interview first years for internship opportunities with a Tuesday through Friday set aside for dedicated interviews without classes. For second year students seeking full-time job offers, there’s a dedicated week of interviews without class from Oct. 26 through Oct. 28th.

“That kicks off the on-campus piece but students are talking to companies all along,” says Murphy. “We have ongoing coaching through the year, and we do have other career development programs, especially in the spring for people who weren’t able to do it earlier or for those who now want to do something different.”

Hutchison says that of the students in the Class of 2015 who sought an internship, 99% reported accepting an offer. “If a student is focused and puts in the time and does the research and is thoughtful about their search, the vast majority will get an internship that will increase their learning,” adds Murphy. But that, she adds, “depends on the company and the industry they target.”

CONVERSION RATE ON INTERNSHIPS TO ACCEPTED FULL-TIME JOBS AVERAGES 38%

On average, 38% of the students who accept a full-time offer at Harvard will return to their internship employer after graduation. The “conversion rate” on internships at HBS has ranged in recent years from a low of 35% for the Class of 2010 to a high of 42% for the Class of 2012.

Murphy’s advice to incoming MBA students, whether at Harvard or elsewhere? “Take advantage of the resources that are there. If you have an experience that doesn’t meet your needs, don’t give up. The resources in a careers office can be very helpful and give you a more efficient and effective job search.”

The latest numbers for the graduating Class of 2015 won’t be released until early October. But Murphy and Hutchison say increasing numbers of students appear to be interested in small, high- growth companies, particularly for summer internships. Technology and professional services are holding their own quite well and financial services has recovered since the downturn in 2008,” says Murphy. “We still have a good number of students interested in healthcare and media and social enterprise. It’s a good broad mix.”

Asked if the degree is still highly valued by employers, both Murphy and Hutchison insist that it is. “I think the MBA degree is one of the most versatile and powerful degrees anyone could have,” believes Murphy. ”We are educating leaders to make a difference in the world and that leadership is what we really focus on. That is still needed and valued as much as it was when I was in business school.”