As we head into the final stretch of Fall Semester, we also approach the traditional end to the bulk of on-campus recruiting. Many students have not yet found the position they desired from the on-campus recruiting process. This is typical as about 1/3 of Ross graduating students secure their jobs via the "self-directed" search each year during both good and bad economic times.
We use the phrase "self-directed" search as opposed to "off-campus" to help distinguish the starkly different processes that the two modes represent. While the on-campus interview process is above all else easy to navigate and participate in (bid, sign up, interview, wait and hope), the off-campus search demands a fair amount of personal initiative and effort, but holds the potential for a much better career match.
We have observed over the years that those who secure their positions off-campus seem anecdotally to be satisfied with their positions longer - possibly because one gets to essentially create the position and "sell" themselves into it as the ideal candidate. One of our goals in OCD is to try to make your self-directed search efforts as convenient as possible, given the endemic demands that such a search presents.
Before we discuss some of the upcoming activity related to the Self-Directed search, we can clearly see how the current preliminary results data continue to tell the story of on-campus recruiting during this fall of 2008. Students who received internship offers from their summer experiences have accepted those offers relatively quickly, while the overall economy has made on-campus interviewing across the nation a more difficult proposition.
With 43% of the MBA class reporting, 38% of those responding indicate having accepted an offer. In comparison, at this point last year, with 53% of the MBA class reporting in, only 33% had accepted an offer. Last year at this time, 71% of those reporting had received an offer. That figure compares to 59% this year.
For the BBA class, 33% of the class has reported in, indicating that 61% of the respondents have received an offer. Last year at this time, 40% of the class had reported and 73% of them had received an offer.
As those of you who are continuing to look for employment, begin to look past on-campus interviewing. Here are some of the activities that you can begin to think about:Psychology of the Self-Directed Search
The frenetic pace, high visibility and relative transparency of the on-campus search can have the effect of making off-campus seekers feel isolated. This should not be the case. The figures that are tracked and quoted by OCD focus on those who have received an offer. The number of people that have accepted an offer is importantly always lower.
There is also the concern that the highest profile and highest paying jobs come through the on-campus process. Our experience shows that those who secure positions beyond campus experience a greater range of salaries, but that the median compensation figures reported are actually right on-par with the on-campus positions. The people who seek the (typically) lower paying not-for-profit and entrepreneurial positions are off-campus seekers. This helps to explain the above phenomenon, and further emphasizes the level of compensation that is available through the off-campus search.
Industry by industry, self-directed career seekers are not necessarily taking a back seat in compensation to those who have found what they desire on-campus. This is a good point for everyone to bear in mind as you negotiate offers. Continuing to search is an option as viable as having another offer from which to negotiate.
Timing
Another bit of good news about the self-directed search is that you can afford a bit of a lull in your efforts if you feel that you would like one. While the on-campus search has the advantage of an early commitment - the employers who do not come to campus usually will not commit until they have a need or are ready for you to start work after graduation.
Ideally, you don't want to be making your very first introduction to a potential employer after the posting comes up. It is not, however, absolutely necessary for you to have spent your entire winter break beginning the search .i.e. if the companies don't have the need for a new employee in the first week of January - they won't make the offer. If they do have the need at that time, they'll want you to start work sooner than you may be ready!
Support On the Horizon
The following resources are available to support your efforts in the self-directed search. For workshops please register in advance at:
http://www.bus.umich.edu/impact/CounselingCalendar/CareerCenter/CareerCounseing.asp.
MBA1 Self-Directed Career Search Workshop: Monday, November 17, 1pm to 2pm, E0540; MBA2 Self-Directed Career Search Workshop: Thursday, November 20, 1pm to 2pm, W2759; BBA Seniors Self-Directed Career Search Workshop: Friday, November 21, 12pm to 1pm, E1530
Self-Directed Job Search Panel
OCD is planning a panel of students/alumni who have successfully navigated the self-directed search process. This is an excellent opportunity to learn the array of skills and techniques used during the search. This event is being planned for early December.
Small Group Sessions
Through this program, OCD staff facilitate small group sessions weekly. The small groups consist of students who are all going through the self-directed process. Through these groups students and staff can share best practices to help individuals overcome obstacles; the groups also serve as a means to keep on track in the career search through regular meetings. Look for these groups to begin in the winter and run throughout the semester.
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