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Oct 27, 2016

Top MBA Recruiters: Citigroup

Top MBA Recruiters Citigroup

Many MBAs seek employment from top financial services firms following graduation, and one firm close to the top of any “Dream Job” lists is Citigroup Inc. As reported in our “Best Companies to Intern For In Chicago”, Citigroup has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. According to Forbes, Citigroup employs around 231,000 individuals.

The company provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. According to Citi, the firm currently operates through two primary business segments: Citicorp, which represents core growth franchises, and Citi Holdings, which contains businesses and assets that are not necessarily core to the firm’s future.

A Little Bit of History

According to Citigroup, the City Bank of New York was chartered in 1812 when a group of merchants took the first steps toward setting up a new bank to help New York compete with rivals in Philadelphia, Boston and Baltimore. Citigroup in its current incarnation was formed from one of the world’s largest mergers when Citicorp and financial conglomerate Travelers Group merged in October 1998. As of recent, it is the third largest bank holding company in the US by asset value.

Despite suffering huge losses during the global financial crisis of 2008 and having to be rescued by a giant US federal stimulus package, as of June 2012—its 200th anniversary—Citigroup had stockpiled a hefty cash reserve. Just years after the crisis, the firm established $420 billion in surplus liquid cash and government securities.

On Citigroup’s 200th birthday, CEO Vikram Pandit offered a statement during Global Community Day—an annual event that serves as an opportunity for employees, alumni, family and friends around the world to gather to demonstrate a shared commitment to its communities.

“For two centuries, Citi colleagues have worked to enable economic progress and support our clients on their journey from ambition to achievement. There is no better way to celebrate our 200th anniversary than by honoring our history, embracing the future and working together to strengthen the communities where we live and work.”

Citigroup and MBAs

According to Bloomberg, Citigroup the biggest MBA employer in financial services, ahead of Bank of America, JPMorgan Chase, Goldman Sachs, Credit Suisse, Barclays (BARC:LN), Morgan Stanley and Deutsche Bank (DBK:GR).

Fortune also notes that Citigroup ranks as one of the 25 “Most Desirable MBA Employers”, with 4.75 percent of all MBA graduates wanting to work for the firm. The ranking states that Citigroup expects to hire about 235 new MBAs each year as associates and management associates, particularly favoring candidates “with a global mindset and strong analytical and communication skills.”

Bloomberg also listed some other business schools that Citigroup commonly hires from, including Cornell University’s Johnson School of Business (6.75 percent, 19 students), Olin School of Business (3.55 percent, 5 students), McDonough School of Business (2.38 percent, 6 students). Recruiters have also highlighted career opportunities in Korea and Japan at events with Northwestern’s Kellogg School, University of California-Berkeley’s Haas School and MIT’s Sloan School.

Getting a Foot in the Door

With major locations in New York, Los Angeles, San Francisco, Houston and Chicago, Citigroup ranks high on the list of MBA internships. According to TopMBA, Citigroup’s MBA interns participate in hands-on work alongside analysts and associates for 10 weeks.

“Citi’s programs give interns the opportunity to have a real impact while doing real work, and many of them return as full-time analysts and associates following graduation,” said Courtney Storz, Citigroup’s head of graduate recruitment and program management for North America.

The competitive internship program gives interns the chance to contribute as a member of the team to which you are assigned and have responsibilities similar to a first year professional. Citigroup utilizes the summer internship program as a primary source for hiring full-time employees.

Internships are available in investment banking, equities, fixed income currencies & commodities, global transaction services, technology and human resources. According to Citigroup, the firm offers a competitive salary for interns, similar to that of a full-time associate already hired in an entry-level position.

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Aug 2, 2016

DePaul Career Center​ Releases Kellstadt Graduate Employment Info

Depaul Kellstadt

Good news if you’re a student at DePaul’s Kellstadt Graduate School of Business: According to the 2015 Postgraduate Outcomes Summary released by the DePaul Career Center, 94 percent of the school’s 2014-15 graduates are either employed, continuing their education or not seeking employment. Continue reading…

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Jul 22, 2016

MIT Sloan Surveys Long-Term Implications of Raising the Minimum Wage

minimum wage

MIT Sloan published an article by Kara Baskin on its blog this week that surveyed three prominent Sloan faculty experts on whether the hourly minimum wage should be raised from $7.25 to $15/hour and its long-term implications.

Continue reading…

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Aug 6, 2015

UC Davis Full-Time MBA Ranked Among Nation’s Best 20 Years Running

UC Davis’ Graduate School of Management’s Full-Time MBA program was ranked among the premier programs for the 20th year in a row, according to a press release from the school. U.S. News & World Report ranked the graduate business schools and released their list on March 10. UC Davis’ program came in at 48 out of 464. Part of what made UC Davis rank so high was their selectivity of applicants (top 10), their average GMAT score (688 up from 685), and their record MBA starting salary and bonus ($99,952 up from $88,301). Continue reading…

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Jul 30, 2015

Henley Finalist in Excellence in Practice Awards

Henley Business School was announced in conjunction with the Diwan of Royal Court of Oman as a finalist in the Executive Development category of the European Foundation for Management Development 2015 Excellence in Practice Awards (EiP), according to a press release from the school. The EiP awards recognize outstanding education and development partnerships in the realms of leadership, professional, talent, and organization development. The Diwan of Royal Court acts as the interface between His Majesty the Sultan of Oman, his government, society, and international relations. Continue reading…

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Jul 28, 2015

Kellstadt Graduate School of Business Releases Career Outlook Survey

According to results of DePaul University’s Class of 2014 career outlook survey and recruiting activity on campus, 86 percent of graduates who received their master’s degree from the Kellstadt Graduate School of Business are either employed or enrolled in continuing education. Employment or enrollment in continuing education are considered successful career outcomes, according to National Association of Colleges and Employers, which charts college graduate employment statistics nationwide. Continue reading…

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