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Press Release

Contact: Michael Laffin
412-268-3486

For immediate release:
February 28, 2002

Job outlook for MBA grads showing signs of recovery- Recruitment study points to emerging bright spots

PITTSBURGH—The MBA Career Services Council (MBACSC) today announced that the job market for this year's crop of MBA graduates is showing signs of improvement. Data from a survey of 56 business school career centers conducted by the MBACSC, an association of university MBA career services professionals, demonstrates that current recruiting for summer internships is noticeably higher than last fall's bleak recruitment period for graduating students.

"This study echoes comments made last year by corporate recruiters expecting to refill their talent pipelines with summer interns," said Ken Keeley, director of Carnegie Mellon University's Career Opportunities Center, which serves the school's MBA students. "Our prediction is that the trend will continue into the next recruitment season in the fall of 2002."

Mel Penn, president of the MBACSC and corporate relations executive at the University of Oklahoma Price College of Business, added, "MBA students should be encouraged by this information. While the study confirmed anecdotal speculation that current recruiting (winter/spring) is down from last year, the decrease is not as dramatic as it was from the fall 2000 to the fall 2001." According to the study, 38 percent of the schools indicated that current on-campus recruiting was down "25 percent or more" compared to a direr 59 percent that reported the same decrease for fall 2001.

The study also confirms that consulting and financial service searches were significantly impacted in the fall 2001. Eighty-seven percent of the schools reported that recruiting by consulting firms was down "at least 25 percent;" 52 percent indicated that financial service recruiting was down "at least 25 percent."

And while manufacturing firms have been affected, current recruiting efforts by manufacturers have increased compared to fall 2001. For example, last fall, 32 percent of the schools indicated that manufacturer recruiting was down by "25 percent or more." For the spring, only one quarter of those polled were down by the same margin.

To provide additional support for job-seeking students, campus career offices are providing innovative and non-traditional services. For example, the Graduate School of Industrial Administration (GSIA) at Carnegie Mellon is adding hours of operation, concentrating on non-traditional MBA markets, scanning corporate Web sites for job postings and conducting additional workshops for students.

The MBA Career Services Council is (MBACSC) is a global association for graduate management career services professionals who represent degree-granting programs (AACSB-accredited or members of GMAC), and who spend at least 50 percent of their time engaged in graduate management career services. Their mission is to set standards for excellence within MBA Career Services and to serve as the voice for the profession inside and outside graduate management education. Fifty-six of 186 member schools completed this survey. Thirty-nine percent of the participants were from private schools, and 39 percent were at schools ranked in a top 25 listing within the past two years. For more information please visit, the MBACSC Web site at www.mbacsc.org.

For more information on the Graduate School of Industrial Administration, please visit business.tepper.cmu.edu.

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