An Inside Perspective on Bschool, MBA Admissions & All Things Business

Job Search Tips on How to Develop Your Target Co List

While we like to think of the holidays as a time for relaxation, the fact is many MBA students and others will be conducting a job search during this time. Below are some tips to aid job seekers looking to identify companies where they would like to work. These are offered by our nationally ranked MBA Career Center at UC Irvine’s Paul Merage School of Business.

Ask yourself some questions:

  • In what industries am I interested?
  • In what companies do I already have connections?
  • What companies are geographically desirable?
  • Are there companies that feed into a company I’d like to target?  [Tip:  check out a target company on www.linkedin.com.  Click on “Check out insightful statistics about XYZ Company” to find a listing of companies that current employees came from and companies that former employees went to.]
  • Who are the competitors of my target companies?

Where to go for ideas:

Check out the Book of Lists, a publication provided by the Orange County Business Journal.  There are different lists for different regions of California. Most major libraries will carry the local journal (e.g., Orange County Business Journal)

Step by Step

1.  List companies of interest.

2.  For each company, do the following:

Visit its website:  Are you comfortable with the company’s products, direction, etc.? Check out its “careers” section. Does the company have an MBA [or other] recruiting program? Does it include “MBA required,” “MBA preferred” or other requirement in its job descriptions? What kind of jobs does it have open currently?

Check out the company on LinkedIn:  What is the background of the employees in the department in which you would be interested?

Conduct informational interviews: What is the culture like? How do MBAs [or others] typically enter the company?

3.  Based on your research, decide which companies should remain on your list.

4.  Cross some companies off the list.

5.   Add more companies to your list by asking yourself the questions above and by getting advice through informational interviews.

I have my Target Company List, now what?

Once you have companies on your Target Company List, find ways to get to know each company better and vice versa.  Some suggestions:

  • Follow your companies on LinkedIn.  This will allow you to see who is joining and who is leaving them.  What kinds of positions do the firms seem to be hiring?
  • Are the companies on twitter?  If so, follow them.  Re-tweet them.  If the companies host blogs, re-tweet their blog posts.
  • If the companies have a Facebook page, “like” their pages.  “Share” and “like” their content.  This is a great way to learn about companies and to become known by them.
  • Check and see who in your LinkedIn connections is somehow linked to someone in a target company.  Can you arrange to get introduced to someone in the company by one of your connections?  Request informational interviews.
  • Check and see if there are alumni of your school who currently work or have formerly worked at a target company.  Request informational interviews.
  • Is there a particular charity that your target company supports?  Can you attend local events?
  • Does a target company give company tours?  If so, schedule one.
  • Set up an email alert in Yahoo News or Google News, so that you get emails whenever news articles are written about your target companies.

We wish you all the best!

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10 Ways to Job Search in a Tough Economy

mbaworks.org is pleased to share some excellent tips from the nationally-ranked MBA Career Center here at the UC Irvine’s Paul Merage School of Business. While some of the recommendations are specific to Merage, most are broadly applicable to MBA students and others everywhere.

MBA Career Center

“Top 10 Ways to Job Search During a Tough Economy”

1) Positive Communication: How you communicate in the marketplace will directly and possibly adversely affect your job search efforts. Think positively during your job search, especially when exchanging information with others, such as cover letters and informational interviews. It will promote further networking and additional references. Decrease any negative communication such as “I’ll never find a job in this economy.” Remember that like attracts like. If you are negative about your search it will deter you from getting any positive information and instead will attract more negative feedback.

2) Patience and Organization: During a challenging economy you can lose opportunities if you are not keeping track of your search efforts. It is also at these times where you see a lack of immediate gratification or immediate payoff from your efforts. Be Patient! Keep Human Resources contacts and Hiring Managers informed about your status (still show strong interest in the company) and regularly inform your network and the MBA Career Center on your progress. Be organized! Create a contact database, follow through with each of your contacts (formal and informal), keep meeting notes, and save your written correspondence.

3) Have a Plan: Your marketing plan will keep you focused and on target during your job search. The hidden job market accounts for up to 80% of the jobs in today’s marketplace. Your marketing plan will help you uncover these “hidden” opportunities. As you plan your work and work your plan you will see progress, lower stress and increase confidence. Know your transferable skills – this is extremely important for anyone who is planning to make a job/career shift.  Preparation, preparation, preparation is key. More than one plan is optimum.

  • Plan A – your ideal position
  • Plan B – a position more closely related to your function or industry
  • Plan C – a stepping stone to your Plan A. (getting your foot in the door)

4) Time: Commit to the search – yes it can be tough and somewhat discouraging but you have to stay the course and dedicate the time each day and week.   Budget your time for what is going to give you the biggest return. For example: if you have 10 hours a week for job searching, then apply 8 hours towards networking. The more contacts you obtain, the more you have a chance to “soft sell” yourself all the while gathering information and more contacts. You will get out of it what you put into it. If you are unemployed, the search is your full-time job.

5) Start at Merage:  Get Involved!

Network through all MBA Programs: EMBA, HCEMBA, FEMBA & FTMBA

  • Merage Associations
  • On Campus Networking Events
  • Mentor Program
  • Merage Competitions

6) Merage Networking

  • Current MBA students from all programs
  • Merage Alumni Database
  • Alumni Monthly Meetings
  • MBA Career Center Contact Database
  • Merage Professors
  • Current Employers of FEMBA, EMBA and HCEMBA students
  • Centers of Excellence
  • Distinguished Speaker Series
  • On Campus Networking Meetings

7) Positioning Statement: (“30-second commercial” or verbal presentation) Have a solid response to “Tell Me About Yourself”. Practice verbally and using InterviewStream. (URL in Catalyst) Understand your strengths and how to communicate them both in verbal and written form. Know your accomplishments. When there are so many candidates to choose from, companies want to know what you can do for them. How can you generate revenue, save money or otherwise make a positive impact on their organization? A shorter version, about 15-20 seconds, should be used for networking (aka: elevator pitch), a longer version, about 45-60 seconds, should be used during an interview when asked “Tell Me About Yourself”.

8) Pricing: Are you at an employable price range? Merage students and their salary expectations have been known to be “within the range” when seeking opportunities. This is more important now while competing with MBA candidates and graduates from other schools. Do your research and come up with a salary range compatible with your skills and today’s marketplace.

9) 21st Century Resources: Integrate your everyday technology but be professional. Just as you are accessing them, they can access you. Through your efforts you are creating a brand for yourself, so be aware of how you build your reputation and positioning.

  • Online communication: LinkedIn, Google Groups, FaceBook, MySpace, Twitter
  • Blog your unique experience and MBA experience
  • Record your Verbal Presentation into a Podcast
  • Create a contact database with names and email addresses for all individuals you come in contact with during your job search.

10)   Know the Marketplace: Many companies are currently unable to forecast their hiring needs so be prepared for some ambiguity.

Companies are….

… Decreasing the amount of recruitment opportunities, nationally and globally

… Staying closer to “home” for recruiting efforts

… Looking for exact matches because they can

… Taking longer to fill positions because of budget and/or staffing constraints

… Want to know you’ve done your homework!

Continue to excel at things that you are involved in:

School, Work, Internship, Community Involvement, Volunteer Work, Clubs and Professional Organizations.

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MBA ROI During Economic Uncertainty

 Why pursue an MBA?  These top reasons shouldn’t surprise you…

  • Develop lifelong business/management knowledge and technical skills
  • Acquire advanced teamwork and leadership skills
  • Remain marketable (competitive)
  • Advance or redirect career, change job function and/or industry
  • Improve long-term income and financial stability
  • Provide a sense of personal satisfaction/achievement
  • Create an invaluable network

Why pursue an MBA during economic uncertainty? 

  • MBAs who can take and manage risks and navigate in the turbulent economic environment is especially important
  • An economic challenge creates opportunities for MBAs
  • Recruiters stated that employers need: global managers who demonstrate ability to work in multiple cultures; innovative leaders who will infuse innovation into business development; managers who will at all times focus on the client/customer experience

A few thoughts to consider in times of economic uncertainty:

  • Stick to your Goals, but consider a short-term hedge (i.e. a “Plan B”)
  • If your goals are focused on a specific business plan, consider how an economic downturn may impact your plan over the next few years
  • Don’t abandon something that you’re passionate about doing because of sudden changes, come across as someone who has considered that
  • Discuss specific aspects of the MBA program that are most likely to help you handle a prolonged economic downturn
  • Stay positive and future focused

Good luck!

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UC Irvine & the Merage School Welcome Veterans

UCI Veterans

The University of California, Irvine and The Paul Merage School of Business value the service of our men and women in uniform and the experiences they bring to the classroom and University as students.  UC Irvine offers dedicated Veterans Services and is proud to be recognized as a Veteran Friendly Institution by the American Council on Education (ACE).   A variety of programs and services are provided to Veterans, ranging from counseling to mentoring to housing to career services – and more.

Veterans applying to the Merage School to earn an MBA degree may waive their application fee and are eligible for Post-9/11 GI Bill benefits. For details, please visit our website and explore MBA program options under the Academic Programs tab just below the school and university logo.

The Fall 2012 UC Irvine Magazine features the university’s commitment to Veterans.

 

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MBA Graduates and Stacked Wine Founders Recognized on NBC and and ABC

Stacked Wines is an exciting new entrepreneurial creation of Class of 2011 Merage School MBA students Matt Zimmer, Jodi Wynn and Doug Allan. This new company is receiving a great deal of press and media attention for its creative and innovative approach to wine consumption.

See what the buzz is all about.

  • View Kathie Lee Gifford and Hoda Kotb having fun with Stacked Wines on the Today Show (the original air date was September 26, 2012).
  • See Stacked Wines featured on ABC’s “The Chew” with hosts Clinton Kelly, Daphne Oz, Carla Hall, Michael Symon and Mario Batali. The original air date: September 18, 2012.

If you are a budding entrepreneur looking to start your own company, consider an MBA from The Merage School of Business. Merage is located in Irvine, ranked as one of the top 5 US cities for startups and in Orange County, known for its diverse and entrepreneurial business community, which make it a great place to advance your career.

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Use These Interview Clichés at Your Own Risk

Applicants to MBA programs and other graduate degrees preparing for an admissions interview quickly discover there is no shortage of advice available to them. One tip that consistently remains near the top of the list of recommendations is to: avoid jargon or “business speak.” It is all too easy to want to pepper one’s speech with business vocabulary, which more often than not appears forced and squarely aimed at impression management.

What is impressive to most admissions interviewers, particularly those who have met with hundreds and thousands of applicants, is authenticity.  The ability to communicate clearly and genuinely is what separates the exceptional from the average applicant. Buzz words, particularly with liberal use, can detract from a meaningful dialogue or exchange between two people.

Below is a list of commonly over-used clichés that industry experts advise against using in a admissions – or even job – interview. Some are trite; some are simply non-meaningful.

  • Make a difference
  • Have an impact
  • MBA toolkit or tool box
  • Best in breed
  • Cutting edge
  • Multi-task
  • Web 2.0
  • Think outside the box
  • Next big thing
  • Low-hanging fruit
  • Best in breed
  • Seamless integration
  • Take it to the next level
  • Pushing the envelope
  • Next level
  • Next wave
  • Transformation
  • Deep dive
  • Leading provider
  • Collaborative team player
  • Comfort zone
  • Thought leader
  • Business solutions
  • Work in the ____ space

And here’s how some of clichés are used in conversation. See how meaningful the following statements are to you!

  • My classmates and colleagues would describe me as a collaborative team player who thinks outside the box.
  • In the long-term, my goal is to be a thought leader in my field, helping prepare others for the next wave of innovation and transformation.
  • When I came to my current job I discovered a lot of low hanging fruit, which surprised me given how cutting edge and best in breed the company appears to be.
  • An MBA will provide me with the skills to move my career to the next level and make a difference at work.
  • I currently work as a consultant in the technology space, providing global business solutions to companies in the health and welfare business.
  • If I became CEO tomorrow, I would ensure there is a seamless integration of processes throughout the company.

Do you have other words or phrases you find trite or clichéd? If so, let us know. Share your comment(s) below.

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Navigating the MBA Fair

As MBA programs start gearing up for the 2012-2013 recruiting cycle, MBA fairs are popping up across the globe. These days it seems like everyone is jumping on the bandwagon and hosting an event, promising easy access to admissions teams and a better shot at gaining entrance to your dream school.

Regardless of which fair you attend, the strategy remains the same—to network with admissions professionals and alums at your top schools of interest and to compare programs. But to get all of this from two hours in a fair that can attract upwards of 300 people, how do you get remembered? Listed below are a few tips from the viewpoint of the admissions staff:

Target your search—but don’t forget the untapped potential

Whether it’s 8 schools or 68, only in the rarest cases will you speak with admissions staff from every program. Nearly all fairs publicize in advance the list of programs in attendance, so do a bit of research before going—of all the schools, what are your top 5 programs? Hit those tables first, armed and ready with your personal statement (more on that later.) With the time remaining, head to the 3-4 schools on your list that strike you as application potentials. Overlooking those smaller programs may cause you to miss out on your “best fit” school.

Know the school

With your target list in hand, you head to your first MBA table. Certainly you won’t know every detail about the program—if you did, that would defeat the purpose of the MBA fair. But it’s wise to invest some time beforehand to learn basic facts about your target schools. Visit each program’s website and pick  the most appealing factors for each school of interest–this will differ depending on what you want and need from an MBA. Share this information with the admissions representative; you would be surprised how often we meet people that don’t know anything about the program. That’s fine too, but I always remember the candidates who have done their research and just want to build on what they’re learned, especially if they claim that the Merage School is a top pick.

Let’s say you end up at the table of an unfamiliar school. What now? Quite simply, ask good questions. Things like “I’ve worked in supply chain for the past 2 years and really want to move into corporate finance–what curriculum do you offer that will help prepare me for a career transition?” is a good place to start. Remember that you are marketing yourself just as much as they are to you.

Know Thyself

Why do you want an MBA? If you don’t know the answer to this, don’t waste your money and/or time at a fair. We realize that not everyone is certain they want an MBA and fairs are a great way to solidify the decision. But you should have some general thoughts about why an MBA suits you even if those ideas are still in the “growth stage”. Have a few solid sentences that clearly explain the intersection between an MBA, your career, and your personal growth.

Tell me about yourself.

Ah, the personal statement. Best tips: Keep it to 30 seconds max. And PRACTICE. Your personal statement should flow out of your lips without even the slightest pause or “um.” And don’t start with “I graduated in 2006 with a degree in”—that’s enough to put anyone to sleep. You don’t have to be the most creative person, but express your story in a way that is memorable. People often don’t remember facts, but they will remember how you came across. I’m more likely to remember the confident person that runs a marketing department by day and competes in gymnastics on the weekends, than the person with a weak handshake who couldn’t quite look me in the eye. What was his name again?

Above all, remember to be yourself. One of my favorite memories is of meeting a prospective student (now a current student!) who was dressed professionally, was confident and well-spoken, and mentioned how he had taken off work to make the 3.5 hour drive to this particular MBA fair because of his interest in our school. His stats weren’t “perfect” but he was honest, familiar with our program, and had an engaging personal statement. Moral of the story: remain genuine, be prepared, and you’ll easily find your best fitting school.

What has worked for you? Share your best and worst experiences, tips and ideas for navigating the MBA fair.

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Landing A Summer Internship

I’ve just finished my first year in the MBA program at UC Irvine’s Merage School of Business and I’m pumped to start my summer internship. For the next 10 weeks, I will be working as a Summer Associate at a Private Equity firm based in Orange County. Merage helped me prepare to land an awesome summer opportunity so I’d like to share a few tips that will help you land a great position ,as well.

1. Prepare, Prepare, Prepare – The best way to avoid stressing out during the year about finding a summer internship is to begin the first year of your MBA with a plan. Before school, identify two or three career areas you would like to explore and create a list of companies for each area.  Using this list, start doing research – create a description of the company, read recent press releases, research their products and services, and, most importantly, look for contacts you can connect with.  Using the information you found, begin to reach out to each company and introduce yourself.  Being proactive in your search shows employers you are enthusiastic, driven and serious about an internship opportunity.

2. Know your background, strengths, and weaknesses - The ability to communicate your career “story” to potential employers is key.  Identify your strengths as well as your weaknesses and be able illustrate how your skill set is transferable to a position at a particular firm.  Knowing this information will also help you write effective cover letters that allow your application to stand out among other applicants.

3. Network! - Business school is all about networking.  Many times, students attend networking events and meet connections who end up helping them land their dream job.  Don’t be afraid to put yourself out there and meet people.  Orange County, particularly, has a great number of networking organizations that are full of inspiring people that can be great connections.  Just remember, networking is NOT solely about collecting business cards.  Be sure to foster the connections you make as opportunities don’t evolve over night.

4. Work closely with your career advisor - Trust your business school career advisor.  At the Merage School, the Career Center works tirelessly to help students but their best professional selves forward.  Throughout the year they work with students on wide range of career topics from interviewing to networking.  As soon as students arrive on campus during the first year of the program, Merage’s Career Center immediately gets to know each student individually in order to provide a personalized career search experience.  They are definitely one of my favorite aspects of the Merage program.

By following these tips, you can greatly increase your chances of landing your dream summer internship. In addition to my tips, here is another great resource you can use.

Have a great summer everyone!

Zot, Zot

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How to Ace the MBA Admissions Interview

Invited for an MBA interview? Here are some insights into how UC Irvine’s Merage School of Business and other top business schools conduct admissions interviews.

Interviews are a dialogue or exchange between two people. Steer away from rehearsed speech or monologues and over reliance on your résumé.  Adcom are interested in getting to know you as an individual, so follow the queues of the interviewer.

Dress in a Business Suit or Formal Business Attire.  The old adage that it is always better to overdress than overdress for a job or admissions interview applies here. Forgo the more casual clothing you may wear at work or that is prevalent in your area of the US or the world.

Avoid jargon or “business-speak.” Peppering your language with impressive vocabulary may show you are erudite, but more often comes across as being forced and squarely aimed at impression management.  Adcom have heard it all and the ability to be genuine, as well as describe highly specialized work in layman’s terms, is far more impressive than extensive reliance on Mr. Webster.

The interview process is straight forward. Questions cover topics included in your application, such as why you want an MBA, why you feel you are a good fit for UC Irvine Merage School or another MBA program (vice versa), your career goals, contributions to work or local community, or your leadership / management experiences to date. You will not be asked to conduct an in-depth analysis of a case study.

Interviews are largely behavioral. Discussion may center on detailed descriptions of events, projects or experiences you’ve faced in the past and how you responded to them. Behavioral interviewing focuses on past performance as a predictor of future behavior.

Interviews may be blind or with some knowledge of you and your application. In either event, the expectation is that you are able to communicate your thoughts well in either writing or conversation.

All interviews carry equal weight. There is no advantage to interviewing with an admissions staff member or an alumna(e). Arrange the type of interview that is most convenient for you.

Interviews are rarely the decisive factor in your admission.  Interviews are one of multiple sources information used to assess your candidacy. In most cases, interviews are fairly consistent with the application.

The exact length of the interview does not indicate how well the interview went. While we schedule 45-60 minute interviews, they may vary a bit.  Deviations from the schedule are random and unrelated to a candidate’s chances of admission.

Do not expect the interviewer to give you feedback – literally or figuratively.  Be careful to avoid any interpretation of verbal or non-verbal communication, as both may be misleading.

Interviews are not a popularity contest.  The interviewer is assessing your fit for UCIrvine’s Merage School or other program not whether or not the two of you would make good or best friends.

Bottom line: be genuine, be authentic, and enjoy the interview.

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UCI Merage School’s Unique Executive Mentoring Program

The Executive Mentoring Program at The Paul Merage School of Business provides a powerful means to learn about leadership in organizations and provides students an opportunity to build a larger business network. The program pairs MBA students with executives from various industries in a one-to-one relationship for a ten-month period. Current mentors represent various companies including Allergan, Broadcom, Deloitte, Smith Barney, Pacific Life, and Mazda.

Congratulations to Sameer Gavankar, current FEMBA student, who was just named 2012 Protege of the Year!

Read more about the Merage Executive Mentorship program – http://merage.uci.edu/ResearchAndCenters/CLTD/Content/Executive-Mentoring-Program/167

 

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