Social entrepreneurs? Non-profit types here?

Question

So look, I don't mean to put down anyone's professional ambitions, but I haven't the slightest interest in banking/finance or consulting. Is anyone else out there applying to B-schools for the non-profit management or social entrepreneurship programs? I've been soliciting views from current students at a bunch of schools and have gotten mixed reviews about how non-traditional business school types like us are received. Thoughts, anyone?

riverripper · Answer

I am not on that path but plenty of my friends are and I can tell you its very well recieved here. There are lots of opportunities at school to get involved in those areas. As for career opportunities, there are a lot...you will have to seek them out on your own more often than not but the career services area is very helpful with it. Obviously the pay wont be in the 130k range like the top consulting firms and you wont double your salary with bonuses like in IB, but if thats where your heart is follow it and I dont think many people will give you a hard time.

This may be different at other schools but at least at Kellogg, I think you would be very well recieved.

This may be different at other schools but at least at Kellogg, I think you would be very well recieved.

Ntang · Answer

That's certainly good to hear. Thanks. I have friends at Fuqua (which has strong non-profit resources) and Darden (which doesn't), and I've heard in both places that the folks on non-profit career paths are often dismissed as do-gooders or hippies. I can definitely understand how hard it would be to maintain discipline in following the public service path in the face of career services offices stuffing BCG or KPMG school visits down everyone's throats. The decision to apply to B-school wasn't easy for me, especially since I'm not sure how I'll fit in there...

Just FYI, I have some good friends working with Andrew Youn, a Kellogg MBA, out in Kenya and Rwanda with the One Acre Fund. Awesome stuff.

Just FYI, I have some good friends working with Andrew Youn, a Kellogg MBA, out in Kenya and Rwanda with the One Acre Fund. Awesome stuff.

riverripper · Answer

I dont think anyone at Kellogg gets harrassed in a serious manner at all. Yes people tease each other but in a good natured way and only friends they know wont be bothered. I am surprised anyone would do that, seems to lack social graces. I think the do gooder clubs are definitely some of the most popular clubs here...people may not want a career in that area but it doesnt mean they dont support it. Plus non-profit areas are great ways to network with people in diverse areas so its valuable for you once you enter the business area...you can do lots of positive things for the world and still get personal gain from it.

unhedged · Answer

Out of curiosity, what are the career paths that follow social enterprise other than non-profit management? I've yet to come across information that fully describes the potential of social enterprises in real terms.

My short-term bschool goal is consulting, but I'd really like to know if there was such a thing as a hybrid of the two.

My short-term bschool goal is consulting, but I'd really like to know if there was such a thing as a hybrid of the two.

riverripper · Answer

Some bigger companies recruit for corporate social responsibility positions.

There are non profit consulting firms like Bridge Span (which is a Bain spinoff). There are also specialized consulting firms that hire MBAs that might interest you. Things from sustainability, environmental impact, pretty much if you can think of it someone consults in it.

Obviously the pay wont be as high but it may be more rewarding for you.

terry12 · Answer

I'm not pursuing non-profit work, but I know plenty of people who are. If I remember correctly, you're applying to Stanford, right ntang? You should definitely take a look at the Public Management Program (PMP):

https://www.gsb.stanford.edu/pmp/

You might find the FAQ section useful for getting an idea of what you can do in the field. From what I hear the PMP's a great program. A substantial percentage of people here pursue non-profit work, so there's certainly no sort of attached stigma.

Finally, I know that Haas also has a terrific non-profit management program. If kryzak doesn't respond to your post, consider sending him a PM.

bsd_lover · Answer

During the Stanford presentation in Sydney last year, I distinctly remember talk of a fund which helps pay off fees for MBA's who end up in non profit after graduation. This was unique to Stanford. Do you have any details of that terry ?

Ntang · Answer

Several schools have loan forgiveness programs to students who go into public service or non-profit jobs whose salaries just can't compete with "traditional" paths like banking or consulting. Stanford, Haas, Fuqua, Yale and several other top-tiers have such programs, though some are "matching" rather than outright forgiveness.

As for actual career paths, it definitely takes more creativity. As I was discussing with an adcom member at Fuqua recently, non-profiters at B-school are by necessity less risk-averse than many other applicants. We really do need to work harder to find a suitable job. Your dream non-profit doesn't come to recruit.

My goal is to start my own organization; a "social enterprise," not really a non-profit, since I plan to structure it so as to both create profit and return value to investors. A friend of mine actually has a similar gig running now in Rwanda and Kenya (One Acre Fund - started by a Kellogg MBA!). If you don't wanna go start your own thing, you can hook up with a global non-profit like CARE, PATH or Amnesty, just to pick a few. Even better, you could look into getting in with a smaller up-and-comer. And there's a whole field of microfinance organizations getting started out there - though be warned, they often have tons of well-intentioned MBAs applying to help, so experience in the field is pretty much a prerequisite.

And finally, you could just hook up with a foundation or a corporation's CSR department somewhere until something comes along...

riverripper · Answer

Kellogg has a program to help people with loans who go into non-profit. They also have a program to provide a stipend for people who do summer internships in the non-profit area and dont get paid by the company.

https://www.kellogg.northwestern.edu/academic/seek/program/loan.htm 
 https://www.kellogg.northwestern.edu/academic/seek/program/interns.htm

kryzak · Answer

Ok, I'm VERY late in response here, but thanks terry12 for the referral. I've spoken to Ntang in person already when he visited Haas. Hopefully we'll get him here either at Stanford or Haas.

Just a quick note, both Haas and Stanford have programs in place where students donate money to establish funds that will supplement a fellow classmate's summer internship if they go into non-profit. At Stanford, I believe students can pledge a portion of their own internship salary (correct me if I'm wrong, terry), and at Haas, we have numerous charity events from football tailgates to "No Shave November" (where people auction off the privilege to shave their beards and hair that they've grown in the month of November) that contribute money to the scholarships.

Berkeley also has a big business plan competition (started at UNC, I believe) called the Global Social Venture Competition, for those interested in social entrepreneurship.

Hope this info is useful for other non-profit/social entrepreneurs out there.

liubhs02 · Answer

kry, those are really good information. I'm on the same path as ntang and I'm applying for Hass and Stanford as well. The information are definitely useful.

aaudetat · Answer

Hey, guys, I'm late to this party too.

For those of you who don't know me, I'm an SY at Fuqua. I was in community development banking before school, but have decided to spend some time in traditional consumer banking before returning to my true love.

Whoever said that Net Impact-ers are marginalized at Fuqua is hanging out with the wrong people. It's a big program with a lot of people involved - even those on traditional career paths.

If any of you are coming here, let me know. I've been arranging meetings for other acquaintances who are coming to visit.

cheers
aau

sigity · Answer

Just found this thread while browsing the forum...

I am definitely looking at B-School as a way to propel me into social entrepreneurship, primarily in microfinance. I strongly believe that a background in business can be one of the most pertinent foundations in terms of running a successful social enterprise. Whether its for-profit or not, market-based solutions provide real, scalable, and effective methods of solving today's largest social issues. There is some incredible work being done in these fields today, and I am really excited to hear that there are many individuals who see b-school as a opportunity to continue growing in this regard.

Personally, I have only applied to Chicago, primarily due their exceptional record training individuals to understand markets, and their capabilities for change. I'd say every top school that I have looked at has some sort of social entrepreneurship opportunity - for example, at Chicago, they link up with Social Enterpreneurs and provide internship opportunities (with a stipend, if applicable).

We should try to keep this thread going - I would love to hear from others...

Ntang · Answer

Okay, so another question for you current B-schoolers out there. What has your experience with the Net Impact chapter at your school been like?

I've heard varying things from different folks at different schools, which only makes sense. I'm looking closely at Darden right now, which isn't a school especially well known for its social enterprise/sustainability strengths, and I'm trying to map out a possible course of action for my job search if I ended up there. I have a feeling that at any top-ranked school, you'll have a core group of people interested in this do-gooder stuff, and that they'll gravitate towards Net Impact. I'm just wondering how effective NI chapters are at connecting their members with contacts in the field.

Where are the rest of you looking?

kryzak · Answer

hey Ntang, you probably know already since you've visited Haas, but the Net Impact club is one of the largest clubs on campus (along with Entrepreneurship Association), with most people wanting to at least be socially responsible in the business they do after school (me, for example). They definitely have a lot of events, speakers, classes, and stuff going on, as I get at least 1-2 emails from them a day on events.

sigity · Answer

I've spoken to a few of the net-impact members at Booth - they make it sound like it is a well-attended group, but I think that this varies year to year, based on the leadership of the group and the makeup of the incoming class. I would venture to say that these groups at schools can change pretty quickly for two reasons:

1) The general trend towards more socially-conscious business practices
2) The fact that B-School is only two years, meaning you get a fresh group of students (eliminating any old biases) quickly.

If I get accepted, I certainly plan to take part in Booth's net-impact club, maybe even a leadership position in my second year. I believe B-School is a great opportunity for people to make a difference - tons of great minds, some free-time and a desire to make a difference...sounds like a recipe for success.

Is anyone else out there interested in Microfinance, if so, what are your specific plans post-MBA? Going abroad? Banking side of things or program side?

Really interested in connecting with others who are pursuing mf as a career choice.

aaudetat · Answer

Net Impact is a pretty powerful group - major connections throughout the social and environmental impact fields. On the nat'l side, you definitely want to become a member (~$35 for students) as you get a discount on the conference and access to their job board. There are ongoing training and networking opportunities.

Have you looked at Net Impact's guide to b-schools? They call it Business as Unusual.

Duke's NI club is pretty great. It's directly linked to CASE (Center for the Advancement to Social Entrepreneurship), which provides really excellent support. There are lots of events, speakers, and classes. NI also runs job teams and other career support activities.

I consider myself a microfinance person, but my work has been in the US, which is obviously very different from the work that happens in the developing world. Most of my work has been with community development credit unions. Here's the trade association (or sorts) for such CDCUs : https://www.natfed.org/.

Ntang · Answer

I've strongly considered getting into microfinance after my MBA. What exactly do you mean about the banking side of things? I'm very suspicious of those folks who say they plan to work for a bulge bracket for a few years before jumping into microfinance... somehow, life gets in the way (or they get used to the paycheck) and that jump rarely seems to happen. All of the folks I know working in microfinance have either started their own thing, gotten in with a fund/organization that was starting up, or gone abroad to work on the programmatic side. Ultimately, that's where the development field needs top MBAs like the folks here - out in the field, transferring skills, applying the education you just paid so much dough for.

sigity · Answer

The way I see it, there are two distinct career-paths post-MBA in microfinance (outside of starting your own fund). The program side of things, which you allude to above, and the "banking" side of things. To me, this is usually where ex-ibankers end up that go into microfinance. Their goal is to secure funding, securitize organizations/loans, make deals, etc. Personally, I see myself more in a strategic development role or program management. Ideally, I'd like to live/work in the US and travel abroad as needed, but I am open to moving to a developing country/emerging markets.

aaudetat - great to hear that you are/have worked with community development banking, that is also an industry that I am looking into post-mba.

Social entrepreneurs? Non-profit types here?

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