Carnegie Mellon Press Release: December 3, 2003
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Press Release

Contact:
Michael B. Laffin
412-268-3486
mlaffin@andrew.cmu.edu

For immediate release:
December 3, 2003

MBA Job Market on the Upswing, Firms Resume Key Hiring Initiatives

PITTSBURGH—After two years of stagnant growth, the MBA job market is signaling an increase in hiring. Referencing an upswing in recruitment activity at Carnegie Mellon's business school, Ken Keeley, executive director of the Career Opportunities Center at the school, believes this is a sign of things to come.

"Companies who didn't recruit last year are back on campus, and they're much more optimistic about the months ahead," Keeley said. "But an even stronger indicator is the number of offers that our second-year MBA students are reporting. It's significantly higher than last year at this time, and the pace of the offers has been steady."

Carnegie Mellon MBA students, who are entering the home stretch of their two-year management education experience, have already garnered 85 offers. As of early December 2002, their counterparts from the class of 2003 reported 42 offers.

"Recruiters at consulting firms who have visited campus in recent weeks are feeling good about the amount of business in their pipeline," said Keeley. "This is a leading indicator that things are starting to improve. Companies are doing more than just trying to survive. They are seeing increased productivity and seeking opportunities to grow certain aspects of their business again. And this is good news for MBAs at Carnegie Mellon."

In typical years, nearly 35 percent of Carnegie Mellon MBAs are 'must-hires' for the top-line consulting firms in the United States and abroad. "Our graduates' strengths in analytical decision-making techniques and skills with next-generation technologies make them ideal candidates for plumb consulting positions," added Keeley.

Susan Smith, a partner at DiamondCluster International, has been to campus recently and confirmed Keeley's assertions. "DiamondCluster has increased our hiring of new MBAs as well as experienced candidates," Smith said. "During the downturn, we still made it to Carnegie Mellon because we are always pleased with caliber of graduates the school produces. However, almost all of our key metrics for our business have improved, and we are hiring more MBAs than last year."

Because of the state of the economy during the last two years, Carnegie Mellon, like all top MBA programs across the country, was experiencing a flat recruiting pool. But now, the good economic news is great news for Carnegie Mellon because when business picks up, consulting is one of the first sectors to respond.

"The Career Opportunities Center has been operating at full speed," said Keeley. "As we have seen during the past few years, whether the economic indicators were positive or negative, progressive organizations have sought our graduates due to their ability to confront some of the most complex business problems in the marketplace. However, it will be great to see many of our students getting four to five great offers again."

The Carnegie Mellon MBA is one of the world's highest-rated graduate business degrees, owing its success to a focus on innovation throughout all aspects of its program. The hallmark of the Carnegie Mellon MBA is an analytic approach to global business management. Founded in 1949, Carnegie Mellon's business school is the pioneer of management science, with a reputation for making an impact through analytical decision-making and creating new ways to transfer knowledge. The school's groundbreaking research, particularly in corporate finance, production operations and organizational behavior, continues to serve as the basis for many business and academic models. More information on the MBA program can be found at www.cmu.edu/mba.

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