Graduate Employment Search. Management Consulting. Gregg Schoenfeld Associate Director, Research Graduate Management Admission Council

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1 Graduate Employment Search Industry Analysis 2008: Management Consulting Gregg Schoenfeld Associate Director, Research Graduate Management Admission Council This document may be reproduced, in whole or in part, without modification and with all copyright and trademark attributions included.

2 Post-Graduation Industries Half of the graduates were interested in 11 industries from a list of 55 industries. Investment Banking/ M anagement, 8% M anagement Consulting, 5% Banking, 5% C onsulting Services, 5% All others, 50% Information Technology or Services, 5% 5% of graduates intend to be employed in the management consulting industry. Energy/Utilities, 3% Healthcare, 3% Accounting, 4% Consumer Goods, 5% M arketing Services, 4% Finance and Insurance, 4%

3 Management Consulting: Career Changing Status The vast majority of P i l respondents entering the management consulting industry industry 8% were switching from other industries. Plan to switch into industry 92% Previously worked in

4 Management Consulting: Prior Industry among Career Switchers A quarter of the respondents switching into management consulting previously worked in the products/services industries i and about a fifth were from technology industries. i Products/Services 25% Technology 22% Consulting 16% Nonprofit/Government Manufacturing Finance/Accounting 11% 10% 9% Healthcare 5% Energy/Utilities 2% 0% 10% 20% 30%

5 Management Consulting: Anticipated Job Level The majority of respondents plan to enter at a mid-level position, and about a third of the respondents plan to hold a senior-level position after graduation. 75% 50% 54% 61% 25% 33% 33% 0% 7% 0% Entry level l Mid-level l Senior level l Executive level l 6% 6% Plan to switch into industry Previously worked in industry

6 Management Consulting: Job Search Status 81% searching for a job 9% staying with current employer. 2% starting own business. 9% not currently searching. Waiting for offers 35% Received/ accepted offer 65% Average # of Job Offers 2.4

7 Management Consulting: Company Selection Criteria When selecting a company in the management consulting industry, respondents considered room for growth, a fit with the company culture, and a positive organizational climate most important. Room for growth Fit with company culture Positive organizational climate Co mpany image/reputatio n High ethical standards d Emplo yer values graduate business skills Company stability Emphasis on work rk-life balance Location Emphasis o n co mmunity/inclusio n Physical surroundings Opinions of others Not at all important Extremely important

8 Management Consulting: Preferred Organizational Culture The preferred culture includes decentralized decision-making, a cooperative atmosphere, a clear and well-communicated vision, and a focus on company success. Centralized decision making Decentralized decision making Internal competition Cooperative atmosphere Well-defined career path Flexible career opportunities Formal atmosphere Informal atmosphere Clearly defined responsibilites Varied/fluid responsibilities Formalized procedures Loosely defined procedures Clear, wellcommunicated vision Flexible, adaptable corporate goals Focus on company success Focus on public good Individual performancebased reward Team-based reward

9 Management Consulting: Job Selection Criteria When selecting a job, respondents considered challenging and interesting work, an opportunity to learn new things, an opportunity for professional development, and advancement opportunities to be the most important criteria. Challenging and/or interesting work Opportunity to learn new things Opportunity for professional development Advancement opportunity Ability to make an impact Achieving something that you personally value Competitive salary Visibility with executive team Job autonomy Benefit package Job security Flexible schedule Opportunity to work or travel in a foreign country Stock option or ownership program Not at all important Extremely important

10 Management Consulting: Expected Change in Salary Overall, respondents entering the management consulting industry expected a 78% increase in salary compared with their pre-degree earnings. 100% 75% 81% 78% 50% 52% 25% 0% Previously worked in industry Plan to switch into industry Overall