Are you dreaming of a career with a nice fat signing bonus?
While signing bonuses are soaring, some top GMAT scorers are getting dinged from top MBA programs. Catch all the trending business school stories here.
Signing bonus season
It’s a great time to be going to business school and earning your MBA. Hiring is up and so are salaries. Additionally, signing bonuses are up. And some signing bonuses are so high that they basically cover one entire year of business school. Yale, Wharton, Stern, Columbia, and Booth, for example, all reported the average signing bonus for 2015 graduates at $30K or higher. Now get ready for your eyes to really pop out of their sockets: Some business schools reported that the highest signing bonuses for their recent graduates topped $50K. In aggregate, the average signing bonus was $25,381 among the 74 MBA program who reported this information to U.S. News & World Report. (Poets & Quants)
The naming game
Want a school named after you? Then do one of two things: 1) Graduate from business school and then do something amazing with your MBA degree, or 2) make an extremely generous donation to any business school whose work you believe in. Catholic University just received a $15M gift from the California-based Busch Family Foundation to renovate Maloney Hall, which houses the university’s business school. Tim Busch, an Orange County businessman, is a trustee at the university. We are committed to supporting Catholic University’s vision for business education which integrates principled entrepreneurship and Catholic social teaching in a distinctive way. Students at the school of business and economics learn how businesses can be highly profitable and innovative, while also meeting the needs of communities and promoting human flourishing,” said Busch. (The Washington Post)
Top GMAT scorers face rejection
Unfortunately, sometimes even an outstanding score on the GMAT isn’t enough to get you into the most competitive business schools. Some of America’s top MBA programs recently reported that many of the applicants they dinged had GMAT scores of over 700. Other applicants were rejected with GPA’s of over 3.5 from competitive universities. What this tell us is that there is no surefire way to get into business school, and the admissions remain highly selective. Putting together a strong application (not just GMAT scores and GPA) will be the key to your success. (Poets & Quants)
Hiring goes online
As digitization becomes a buzzword in business education and beyond, MBA hiring has also moved online. This week, hundreds of business school students from some of Europe’s top MBA programs participated in the European MBA Virtual Career Fair, a career event held entirely online. “We wanted to create a platform which will enable our students to explore roles in a number of companies with diverse career opportunities,” said Andrew Bagshaw, MBA career relationship manager at Great Britain’s Lancaster University Management School. Among the participants were Louis Vuitton, GSK, and Hyatt. (BusinessBecause)
Caution: hiring pitfalls ahead
One of the first things you should know as an aspiring MBA is that the MBA job and internship hunt begins the day you begin your studies. The good news is that internships abound, but landing a job after graduation takes hard work. You’ll want to avoid several mistakes that can cost you a good opportunity, such as 1) ignoring the company’s culture, 2) not scheduling an onboarding meeting with the internship folks before day one, 3) not asking for feedback during the first few weeks of the interview, or 4) not knowing the company’s social media policy. Remember, when in doubt, just leave it out. (Top MBA)
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