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MBA Jobs in Banking & Consulting Still Popular

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Top news in MBA jobs and education.

Traditional industries like banking and consulting remain popular among business school graduates.

What does it take to get a job at legendary banking firm Goldman Sachs? Do consulting jobs still carry the cachet they once did for MBA job seekers? Are online programs catching on? Here are the top stories in the world of business school.

 MBA jobs at Goldman Sachs

While today’s MBAs are looking to careers that, at one point in time, were not typically associated with business school (nonprofits, technology, etc), the reality is that finance and banking are still extremely popular routes. Goldman Sachs, for instance, still has cachet as one America’s top banking firms. So, what does it take to work there? “The reality of it is that we actually have a pretty strong appetite for non-traditional backgrounds,” says Michael Desmaris, a managing director and global head of talent acquisition at Goldman Sachs. He adds, “One of the things that is interesting is that a majority of our MBA hires are career switchers, so they’re coming from a different industry altogether.” (Poets & Quants)

Consulting careers

Alongside banking, consulting remains another traditional MBA career that continues to win over the hearts and minds of new business school graduates. While tech giants like Google, Facebook, and Amazon grab the headlines, major consulting firms remain among the most popular destinations to search for MBA jobs. With starting salaries nearing $150,000 a year and career trajectories that progress at a quick pace, you can see why. “For the past few years, about a fifth of Tuck’s graduating students have gone to work for the big three consulting companies and this current recruiting cycle looks to continue that trend,” says Stephen Pidgeon, associate director for career development of Dartmouth’s Tuck School of Business. Pidgeon joined McKinsey when he graduated from Tuck in 2007. (The Financial Times)

 Online programs on the rise

One thing on the business school landscape that will likely be the same in 2016 as it was in 2015 is the MBA job market for new graduates. But on the business school school education front itself, expect some changes. Namely in delivery, which means more online programs and digitalization. As an instructor at one business school in Great Britain describes it, “Online programs are more sophisticated these days. The main issue is to ensure consistency of interaction… The instructor also needs to show a proactive presence online to engage and encourage more engagement from students.” In other words, business school students are going to have to embrace technology just as business leaders have. Best to start early! (BusinessBecause)

 In-school entrepreneurship

Within the business education community, there’s been a lot of debate about whether or not students should focus on becoming successful entrepreneurs while they’re still studying. Many argue they should hold off on any plans that might distract them from the classroom experience and save those MBA job worries for post-graduation. Karl Ulrich, the vice dean of entrepreneurship and innovation at the University of Pennsylvania’s Wharton School, is firmly in the latter camp. “I understand the frustration of faculty members who see their students paying little attention to classroom learning while they focus on creating the next Uber. But such student behavior is a hint at a problem in business education. Students sense a gap between what they are learning in the classroom and the application of that learning to their career objectives,” he says. (The Wall Street Journal)

The No-No’sThere are lots of dos and don’ts during the MBA admissions process—and if you do the don’ts, well, you’re playing with fire. Here are a few things to avoid when readying your business school applications. 1) Not answering the essay question asked of you. Be direct and to the point. 2) Lying about your work experience. Not only is it unethical, but it’s easy to get caught. They know how to verify things. 3) Discussion of politics or religion. Save your thoughts about Donald Trump, Hillary Clinton, and Pope Francis for another venue. You never know who you may offend on the admissions committee. (U.S. News & World Report)

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The post MBA Jobs in Banking & Consulting Still Popular appeared first on Business School Insider.