Driehaus and Kellstadt Dean to Step Down
Ray Whittington has served as dean of the Driehaus College of Business and Kellstadt Graduate School of Business for more than 10 years. But at the end of the 2016-17 academic year, he will be stepping down and returning to his prior role as the director of DePaul’s School of Accountancy & Management Information Systems. Continue reading…
MBA Programs That Don’t Require Work Experience: San Francisco
Not everyone comes from a traditional working background earns an MBA for the same reason. So, in the same ways that some MBA programs don’t require the GRE or GMAT score for their applications, many business schools are also willing to consider applicants with limited or no prior professional experience. Continue reading…
Top MBA Recruiters: Nike
“Just do it.”
Simple and unimaginably iconic, it’s perhaps the world’s most popular corporate slogan, attached to the world’s most lucrative sports business company. Headquartered in the Portland, Oregon metro area, Nike’s annual revenue exceeded $32 billion in this year and the company employs more than 62,000 people worldwide. Forbes currently estimates that the brand is the 18th most valuable in the world.
Smith Alum Talks EMBA, International Work Experience
For Robert H. Smith School of Business EMBAs, gaining global working experience is nothing out of the question. One EMBA, Alain Desvignes, served as director of operations at Zürich water-treatment company Ozonia, French development organization SUEZ Group and was also responsible for the operations across Asia while earning an EMBA at the Smith School in Beijing. Continue reading…
Hot MBA Jobs: Investment Fund Manager
Everyone who decides to spend time going back to business school and earn an MBA knows a thing or two about investments—going out and getting a graduate degree is an investment of time, resources and money. For some MBAs, though, the investment doesn’t stop there—investment management is a hot job for those moving on from business school. Continue reading…
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.
