|
狂顶一下LZ的文章啊,因为太popular,竟然在Business Week上发现了英文版本啊..... 因为这是全球性的金融危机,让海外的其他MBA学子也能拜读一下. Do not let the starting pay blind you to opportunities I attended a 3 hour tele-conference yesterday. The main topic is review of 2009 budget against the global financial crisis. In other words, its about cost reduction. Every head of business unit have to provide detailed target and time schedule for the savings amount. Other than business costs, the main items to be reduced are entertainment expenses, other expenses, freeze head-count. The main focus of attention is regarding recruitment.
1.Relocation is no longer encouraged, as relocation will incur additional costs like housing and allowance. Sometimes these benefits add up to more than the basic pay of the employee. 2. Localization of senior management positions. This is because expatriation of foreigners will incur housing allowance as much as 450K. It goes without saying that our company will not be taking in fresh MBA graduates as management trainee this year.
A current MBA student asked me to help with interviewing for a position in my company. When he knows that the pay package is only 300K, he commented that it is less than the school average. I am thus concerned about the employment situation this year. Our company is one of the top 500 in Shanghai, and cost savings target will make it tougher for MBA job placement. I suspect my own experience will repeat again year after year. What you measure is what you get. Unfortunately, MBA schools measures average starting pay that affects the expectation of MBA students every year.
In my own experience, the anxiety of job hunting started 2 to 3 months before graduation. Some classmates already with offer in hand will look forward to a better offer down the road. Naturally, "better offer" implies something with a higher starting pay, and such offers naturally goes to candidates with compatible job experience and company background, or from industries like IB, VC and consultancy. Once the information get around, those with low paying offers from big companies will feel unhappy, and those who seek a job in a different industry will be under additional pressure.
The truth is that senior positions in large companies will not go to fresh MBA graduates with no relevant experience, even if the candidate does very well academically. Even if such a candidate performance exceptionally well in interview and cases, they will most likely get a management trainee position as a bridge. But companies tend to use internship-like opportunities like these to groom fresh MBA graduates before moving them to more senior positions. I believe now, that to secure a management trainee position in one of the top 500 companies will be a great opportunity. But when I had the opportunity, I gave it up due to my starting pay expectation. Some other companies will provide opportunity for assistant manager, internal consultant or other positions with even lesser pay to the candidates from a different industrial background. But opportunities like these will be unattractive to those seeking high starting pay.
At my time, I wanted a job in FMCG marketing, but I lack the industrial experience. After 6 rounds of interview at Pepsico, I did not get the job. However, another local company wanted to give me a related position, and I gave it up due to the low starting pay. I chose to return to my previous industry. Later, I heard from the HR from Pepsico that I would have easily secured a senior position with them if I worked for 6 months with the local company. A headhunter also said that the local position is an open door, which will provide me access to other related companies like Adidas. Thinking back, I remembered that I secured my previous job at a market leader only after accumulating a year of working experience. Whenever I think back at this missed opportunity, I feel sad that I will never get another chance like that.
Among my MBA classmates, some stayed firm to their dreams. An experience engineer gave up high paying opportunities in engineering to become a boutique manager with a leading luxury retailer. Another became a HR recruiter with a top 500 firm, and left 2 years later to become a GM of HR and Partner of another top 500 firm. They made it in the end, but had to withstand tough pressure in the beginning, when in comparison other classmates have higher pay and talk about buying cars and houses..
So, given the current global financial situation, I would advice graduating MBA students not to care too much about the starting pay, but focus instead on how the job offer will affect your career development in the next 3 years. For candidates looking to switch industry, stay focus and look out for any opportunity that comes your way. Management trainee positions, internship positions with 500 firms, IB, consulting, anything...
| 
京公网安备11010202008513号 京ICP证101109号 京ICP备12012021号
发表于 2008-11-11 22:32:00
发表于 2008-11-13 01:33:00
楼主
