Beyond the ‘Big Four’: What are the Other Major Consulting Firms You Should Know?
Deloitte, PwC, KPMG, and E&Y: Together these firms make up the “Big Four”—the four biggest professional services firms in the world. The companies offer auditing, assurance services, management consulting, corporate finance, legal services and more. It’s no surprise, that many of these companies are also ideal destinations for many MBAs. Continue reading…
How to Find Your Role with Healthcare Giant McKesson
Since 1833, McKesson has been one of America’s most successful companies, known for its world-class health care systems including medical supplies, pharmaceutical products, medical technology, and care management tools.
Founded in New York City and now headquartered in San Francisco, CA, McKesson is a Fortune Global 500 company with the fifth highest revenue in the U.S. In 2017, the company generated $198.5 billion in revenue through its extensive network infrastructure in the health care industry. Continue reading…
Top MBA Employers: Building a Foundation with Chevron
Even with the preparation provided by an MBA, entering back into the business world after school can be daunting. California oil giant Chevron, one of the 20 largest companies in the world, offers a program that provides additional support and training for MBA grads to help them take their education to the next level. The oil company’s competitive business and commercial MBA program (BCMP) provides opportunities and resources for motivated grads aspiring to senior management positions. Chevron has made Glassdoor’s list of “Best Places to Work” eight times, and made Indeed’s list of Best Places to Work in 2017, likely due to the numerable opportunities for advancement and considerate treatment of employees.
According to Business Insider, “Chevron also has programs for new mothers and families, such as rooms where new mothers can nurse, a college-counseling program that guides employees and their families through the college application process, and a program that reimburses employees up to $5,000 for adoption-related expenses.”
Current MBA’s and recent grads interested in working at an oil will surely want to add Chevron to their list of potential employers.
The Chevron Business and Commercial MBA Program
During Chevron’s two-year business and commercial MBA program, students will have access to a variety of resources, including mentorship from senior members of the Chevron team. Program participants will do four six-month rotations involving projects in any of the following areas: strategy, planning and business analysis; supply chain/value chain optimization; business development; asset commercialization; decision analysis; hydrocarbon scheduling and logistics; hydrocarbon trading analytics; or marketing and sales.
Program recruits should have geographic flexibility, as the program can take them to California, Texas, Pennsylvania, Louisiana, Mississippi, Kazakhstan, Nigeria, or Singapore. Participants can look forward to regular performance feedback on each assignment. The BCMP allows MBA grads to accelerate their career trajectory, to achieve more senior positions more quickly.
You can take a look at Chevron’s full BCMP brochure here.
Getting A Foot In the Door: Summer Internship Program
If you’re interested in pursuing Chevron’s business and commercial MBA program, applying for the company’s summer internship is the way to go. In fact, Chevron considers the 10-12 week internship program to be an extended interview that provides an in-depth view of how potential long-term recruits operate in a project-oriented setting. MBA’s can apply after their first year of grad school.
Though a long-term Chevron job offers a multitude of possible locations, the internship will take place in either Houston, Texas, or San Ramon, California (home to the original company headquarter’s). To be eligible for the internship, grads should have a minimum of three years of work experience between their undergrad and grad educations. Chevron looks for adaptability, collaboration skills, analytical chops, and leadership qualities in its internship recruits.
Chevron MBA internships take place in several U.S. cities, including its Houston offices.
Top MBA Recruiters: Starbucks
American coffee behemoth and casual status symbol Starbucks has become one of the most well-known companies in the world with over 27,000 stores and a massive headquarters located in Seattle, Washington. The company is known its quality service, customizable drinks, and pre-packaged items. As it continues to grow, so does the appeal for a Starbucks corporate career.
The company got its start in 1971 when the first store was opened in the Pacific Northwest. However, it wouldn’t be until 1987, when Howard Schultz took over and re-branded the company that they would open their first location outside of Seattle. By 1989, it had 46 stores and were roasting over two million pounds of coffee.
In 1992, Starbucks released its initial public offering (IPO) with a revenue of $73.5 million and a market value of $271 million. By the end of the year, the share price had risen over 100 times the earnings per share of the previous year. Now, the company earns more than $22.3 billion per year and employs over 238,000 people worldwide.
You can’t talk about Starbucks without talking about the location of its headquarters in Seattle. Located in the city’s SoDo neighborhood, Starbucks can be found in the largest multi-tenant building in the city with over 2,200,000 square feet of space. But while the building is impressive, it’s the city that really stands out.
Washington was ranked as “America’s Top State for Business in 2017,” by CNBC, and Seattle is the city to be in. According to Outside Magazine, Seattle is one “America’s Best Towns Ever,” and a PWC survey considers it one of the nation’s most innovative cities. There’s much to love about Seattle from its opportunities for adventure, laid-back culture, and strong economy, which grew 3.7 percent last year—almost 2.5 times the national average.
MBA Recruiting at Starbucks
Starbucks is a major MBA recruiter. It looks for MBA students who understand who Starbucks is as a company. As well, it recommends reading former CEO Howard Schultz’s book, Onward: How Starbucks Fought for Its Life without Losing Its Soul and following the company on social media including LinkedIn, Twitter, YouTube, and Instagram. The company wants to know why you want to be a part of it and how you fit in with the Starbucks Mission Statement.
Other required qualities include:
- Strong analytical and technical skills
- Ability to analyze business trends
- A strong team player who can collaborate cross-functionally
- Strong interpersonal skills
- Great communication skills orally and in writing
- Strong organizational and problem-solving abilities
- Ability to balance priorities and meet deadlines
You may also be required to have a deep understanding of financial planning, forecasting, and inventory management. You should also have a strong understanding of marketing fundamentals and be able to understand sales, return on investments, and profit and loss.
As for where Starbucks recruits, many MBA programs feed into the company including:
- The University of Washington Foster School of Business
- Dartmouth College’s Tuck School of Business
- The Wharton School at the University of Pennsylvania
- Arizona State University’s W. P. Carey School of Business
- The University of Michigan Ross School of Business
Salary & Benefits of Starbucks Employment
According to PayScale, MBAs hired at Starbucks are paid well:
- Master of Business Administration (MBA), Business Administration – $128,500
- Master of Business Administration (MBA), Accounting – $65,111
- Master of Business Administration (MBA), Marketing – $109,823
- Master of Business Administration (MBA), General Business – $89,000
- Master of Business Administration (MBA), Global Management – $77,419
As for benefits, Starbucks offers a tailored benefits package that’s called “Your Special Blend,” which includes Medical, Dental and Vision coverage as well as life insurance, disability, adoption assistance, paid vacation, a 401(k) Savings Plan, stock investment, one free pound of coffee per week, and more. There are also perks that include in-store merchandise discounts, matching gifts programs, etc.
Interning at Starbucks
Every year, Starbucks offers an exclusive ten-week internship program in Seattle that is designed to provide a robust and meaningful experience. MBA students who are chosen to participate can expect to participate in high-impact, business relevant projects that have well-defined goals and expectations. Interns also have access to mentorship and leadership opportunities. Graduate internship applications open from January to February each year for the summer program.
According to Peter Kazarian, a ’16 UW Foster MBA graduate who interned at Starbucks, the intern program is very deliberate and well laid out.
“With part MBAs and the rest technical and undergrad interns, there was a formal on-boarding program, weekly meetings with SVP/C-suite leadership, and great experiences like a Sounders game or fancy catered dinners at museums,” Kazarian explained in a blog. “My department was under the Channel Development arm of Starbucks, which included consumer packaged goods and anything else not in a Starbucks retail store, like grocery bottled fB2brappuccinos, licensed stores, and in my case, bulk B2B customers like airlines, hotel chains, restaurants, and campus cafes. As part of the Digital and Loyalty team, my main project involved e-commerce enhancements to our B2B team’s website, and forecasting new sales revenue and cost savings from these changes.”
As for what Kazarian enjoyed most about his experience, he enjoyed the free pound of coffee each week. He also loved getting to know his fellow MBAs who are now good friends of his. “I had a great experience … and I’ll be returning to Starbucks … as a Product Manager,” he said.
Top MBA Recruiters: IBM
Finding a job after graduating with your MBA isn’t typically the issue. There are hundreds of industries and companies that would be happy to hire a freshly minted MBA graduate. The trouble is choosing the right company and job for you. If IBM hasn’t been on your list of top tech companies, maybe it should be.
About IBM
Headquartered in Armonk, New York—north of NYC and bordering Connecticut—IBM (International Business Machines Corporation) is a multinational technology company that operates in over 170 countries worldwide. It got its start in 1911, and since that time has manufactured leading-edge computer hardware, middleware, and software. The company also provides hosting and consulting services across the technology industry on topics ranging from mainframe computers to nanotechnology.
IBM is dedicated to a constant state of innovation, which is evidenced by its performance. In 2017, the company earned $79.1 billion in revenue and demonstrated that it’s still a cutting-edge technology company by expanding on many of its services including the IBM Cloud—who’s revenue accounted for 21 percent of total revenue. Other top products from the company include:
- z14: The world’s most powerful transaction system that encrypts data at scale, all the time.
- POWER9: POWER9 systems and software cut training times by 4x and boost AI accuracy.
- IBM Q Experience: The world’s first (and only) prototype 50-qubit system, which leads in quantum computing.
And IBM is always looking for new ways to be competitive. Last year, the company spent $5.6 billion on research and development. And in 2016, IBM filed 8,000 patents (the most of any company). It’s a company that is moving forward quickly, which can make it an exciting prospect for many MBA students. So, why should you work for IBM?
Why IBM?
Nicknamed Big Blue, the appeal of working for a company like IBM is fairly obvious. It’s one of the world’s largest employers with over 380,000 employees as of 2016, and those employees are top notch. Throughout the company’s history, employees have been awarded:
- Five Nobel Prizes
- Six Turing Awards
- Ten National Medals of Technology
- Five National Medals of Science
And some former IBM employees include Apple CEO Tim Cook, Microsoft Chairman John W. Thompson, SAP Co-Founder Hasso Plattner, and former Lenovo CEO Steve Ward.
In addition, if you choose to work for IBM, you have the opportunity to work almost anywhere in the world. The company has several main campuses across the globe including:
- Austin, Texas
- Raleigh-Durham, North Carolina
- Rochester, Minnesota
- New York City, New York
- Silicon Valley, California
- Rome, Italy
- Winchester, UK
- Johannesburg, South Africa
- Tokyo, Japan
And that’s just to name a few of IBM’s premier locations. And no matter where you land a job, you’ll be called an “IBMer” and receive a myriad of benefits including group life insurance, survivor benefits, paid vacation, and more.
In 2017, IBM was also recognized by Mogul as one of the Top 100 Innovators in Diversity & Inclusion as well as one of the Top 100 Companies for Millennial Women. And in 2015, IBM was named to Working Mother’s 100 Best Companies list for the 30th consecutive year.
Landing a Job at IBM
So, how do you land a job at IBM as a new MBA graduate? There are a few options. The first is the IBM General Management Leadership Development Program (GMLDP), which is the premier leadership development program for top MBA graduates. If you’re accepted, you’re hired into IBM on an accelerated path to leadership with opportunities across many of IBM’s areas including cloud, Watson, digital, offering management, and consulting.
And speaking of consulting, MBA graduates also have the opportunity to work as consultants in IBM Global Business Services. Within this area, MBA consultants are given a chance to combine sophisticated analytics with market-leading global solutions to provide deep industry insight and expertise alongside an actionable plan.
At any given time, there are over 5,000 job openings available in every industry and area from project management to marketing. Some available jobs for MBA graduates include:
- Strategy Consultant
- Projects Manager
- Account Executive
- Offering Manager
- Associate Partner for Tech/Data Strategy
- Digital Business Consultant
- Business Analyst
Meet an Employee
According to Nish Parekh, who leads IBM’s client and partner programming teaching businesses how to use IBM’s Watson technology, she’s living her dream. With Watson, she gets to work on the leading edge of AI technology and touch a variety of industries, which is exciting in and of itself.
“They bring in a lot of people from different parts of IBM, as well as some folks from outside IBM. Seeing the mix and all these people work together is fun. I get to learn from them,” Parekh told Fast Company. “Also, one of the greatest things about my job is the ability to stay on top of the latest and greatest technology. AI is up and coming; it’s exciting to be a part of that moment.”
Finding Your Dream MBA Career at Barclays
For over 300 years, Barclays has been one of the leading international banks for both consumer corporate investments. MBA candidates are drawn to Barclays not only for its stature in the global finance industry but also for the vast array of professional opportunities it offers. Within business banking, corporate banking, customer banking solutions, marketing, investment banking, and technology career paths, Barclays’ training, mentorship, networking, and travel opportunities are often unparalleled in the financial industry.
Barclays’ MBA Recruitment Program
At Barclays, one major key to continued growth and success consists of building strong interdisciplinary business networks. As part of Barclays’ ongoing development opportunities, the company maintains a robust campus recruiting system. Barclays makes a point to develop relationships with their future prospects as early as possible in their educational and professional careers.
For students pursuing an MBA, Barclays offers the MBA Ambition Diversity Program, a summer internship program dedicated to talented and motivated MBA candidates. Within the MBA Ambition Diversity Program, Barclays initially gives a candidate a “condensed version of our on-campus recruiting process during the summer before you start your MBA, culminating in interviews at our New York office.” Successful candidates will then be offered an internship position the following summer after the first year of business school is completed. Once a candidate has been accepted, Barclays offers a fellowship program that “provides $45,000 toward first-year tuition and academic expenses.”
Barclays prides itself in seeking out women, men, and non-binary individuals of all backgrounds to cultivate a diverse environment for employees to learn from one another. The idea is that this multifaceted workspace will help employees expand their cultural perspective as they embark on a career in global finance.
As of October 2017, Barclays has begun to offer free accommodation for graduates taking job interviews in London, Birmingham, and Manchester. This is for all graduates—not only Barclays applicants.
The Barclays Career
In 2016, Barclays’ head of banking associate recruitment, Kristi Robson, explained in an interview that MBAs are commonly hired into their banking division where Barclays has its largest intake. Banking interns and employees generally move into a product or coverage role within Equity Capital Markets or Technology, Media & Telecommunication, for example. Robson explains, “We do hire a small number of MBAs into our research business but this is dependent on business need.”
According to the 2017 WSO Investment Banking Industry Report, first-year analysts earn between $70,000 and $150,000 USD based on experience and by year three average between $120,000 and $350,000. “At the analyst level, it is not uncommon to work between 80 to 120-hour weeks at some firms. Most analysts start in the summer and receive their first investment banking analyst bonus around June or July, approximately one year after the analyst starts working. Analysts also often receive a signing bonus from $5,000 to $20,000, as well as a moving bonus if they are transferring laterally to a different bank.” For these reasons and more, Barclays strives to provide their candidates with every opportunity to grow professionally.
Education Opportunities
The following London MBA programs are reputable feeders for roles at Barclays. They are all remarkable schools for distinct reasons but each provides a formidable mix of business education and valuable alumni networks:
- Ashridge Executive Education
- Cass Business School – City University London
- Cranfield School of Management
- Henley Business School – University of Reading
- Imperial College Business School – Imperial College London
- Judge Business School – University of Cambridge
- London Business School
- Saïd Business School – University of Oxford
If you’re driven and wish to work for a large organization that still believes in “small-business”-style relationships and offers unique opportunities to develop business skill-sets and global perspectives, then Barclays could be the perfect fit.
