MBA 2011 Employment Report(2)
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MBA Employment Report 2011
Access global talent from the world’s number one business school
www.london.edu/recruitourtalent/
Introduction
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From the Director
It has been another year to celebrate for London Business School’s full-time MBA programme. The Financial Times placed us number one for the third year in a row in their global rankings; the percentage of 2011 alumni securing employment 3 months after graduation has increased to 93%, up from 91% in 2010, and the number of students undertaking summer internships hit 100%. I would like to thank our recruiters for believing in the impact that our students and graduates can have in their organisations and continuing to hire from the School through these uncertain times. My first full year as Career Services Director at the School has been a rewarding one in which we have built on past successes and taken the courage to try new initiatives. The intention is always to improve further our relationships with organisations around the world and prepare and support our students in finding employment. For the first time we created sector specific CV books, making it even easier for recruiters in some of the major sectors to find the talent that they need. The team is working more closely than ever with student clubs, including supporting a growing number of career treks. The treks to Shanghai, Hong Kong and Singapore have contributed to the increase of graduates finding roles in Asia, 11% compared to 7% in 2010. This region continues to be a focus for the School and the Career Services team. In addition, our MBA programme has undergone an exciting review to ensure that we continue to offer participants and employers what they need at a world-class level. This year’s employment report shows that there was a fairly even split in sector choice, with 36% of our 2011 MBA graduates finding employment in consulting, 34% in finance and 30% in other corporate sectors. Although this is the first time in several years that the majority of our full-time MBA graduates have gone into consulting, the transition data indicates that a smaller percentage have changed sectors this year (55% of those with roles in consulting had a previous background in consulting – compared to 42% last year and 61% of those in finance had a finance background compared to 55% last year). This suggests that in times of uncertainly it becomes harder to change sectors of employment as organisations prefer to recruit those with experience in their field. Whatever your relationship with the School, I hope that you find this employment report informative and useful. Best wishes,
“our MBA progrAMMe hAs undergone An exciting review to ensure thAt we continue to offer pArticipAnts And eMployers whAt they need At A worldclAss level.”
Fiona Sandford Director, Career Services, London Business School
Fiona Sandford Director, Career Services, London Business School www.london.edu/recruitourtalent
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MBA2011/12 class profile
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MBa2011
5 4
6
7 1
MBa2012
5 2 4
6
7 1
2 3
3
class profile Students Age range Average age Average work experience (years) Work experience range* (years) Primary nationalities GMAT range GMAT average % female 403 23-39 28.3 5.3 2-14 59 600-780 697 27%
regional background 1 Europe (excluding UK) 2 Asia 3 USA/Canada 4 Latin America 5 UK 6 Middle East/Africa 7 Australasia 31% n 21% n 16% n 12% n 10% n 6% n 4% n
class profile Students Age range Average age Average work experience (years) Work experience range* (years) Primary nationalities GMAT range GMAT average % female 400 23-39 28 5 2-14 62 600-780 701 28%
regional background 1 Europe (excluding UK) 2 Asia 3 USA/Canada 4 Latin America 5 UK 6 Middle East/Africa 7 Australasia 31% n 20% n 14% n 12% n 11% n 7% n 5% n
1
1
3
3
2
2
Professional background (pre-MBa) 1 Corporate sectors 2 Finance 3 Consulting 42% n 31% n 27% n
Professional background (pre-MBa) 1 Corporate sectors 2 Finance 3 Consulting 41% n 30% n 29% n
This is a current profile. Our admissions decisions are taken in accordance with best equal opportunities practice. * Typically participants have between five and six years relevant (management) experience, although each applicant will be considered on his/her own merit. The School values diversity and promotes a positive work and study environment.
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MBA recruiters
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Companies that hired students from London Business School in 2011, either on a permanent basis or during the summer.
PleaSe Note that many more companies presented on our campus and/or posted opportunities for our students
1OAK Financial Group 3i A.T. Kearney Abraaj Capital Abtech Systems Accenture Actis adidas African Development Corporation AIG East Asia Holdings Albourne Partners Alcon Novartis Allianz Global Investors Almaz Capital Partners Alvarez & Marsal Amazon American Century Investments American Express Amgen Anheuser-Busch InBev Antique Wine Company Apple
Booz & Company Boubyan Capital BP Bridges Ventures British Fashion Council British Land British Standards Institution BT Burberry Campbell Lutyens Canada Pension Plan Investment Board Canter Equity Partners Capricorn Consulting Group Centrica CEPSA Chemidex Pharma Citi Clayton Utz Clean World Capital Climate Change Capital Coller Capital Commerzbank Cordea Savills Crédit Agricole Corporate & Investment Bank Credit Suisse Debtwire Deutsche Bank Development Partners International Diamond Advisory Services at PWC Direcional Engenharia Discovery Communications Dpluse DuPont E.ON EBRD Edoma Partners Ekistics Property Advisors LLP Eleqtra Eli Lilly
Elsevier Emerson Endeavor Endeavour Ventures Epersimove Ernst & Young European Central Bank Everything Everywhere Expandys Facebook Facelift BBT FCF Fox Corporate Finance Fidelity FMR Fidelity Worldwide Finisterre Capital Fleming Family & Partners ForumGruppe Freitag & Co FSA Future Holdings Innovation Garlik Gatsby Charitable Foundation Gatwick Airport GE Capital GE Consumer Finance GE Healthcare GEM General Mills Gimv GLC Glencore Global Banking Corporation globalCOAL Goldman Sachs Goldman Sachs Asset Management Google Greenpark Capital Groupon Grovepoint Capital
Grupo Higa GSMA Hamilton Ventures Herschel Capital Advisors Hines Associates Limited Honeywell HSBC Huawei Huddlebuy Industry Corporate Finance Infosys Consulting Inc. Infosys Technologies InfraCo Innovation Labs Interbrand International Finance Corporation (IFC) J. Walter Thompson J.P. Morgan Jefferies Johnson & Johnson Juicy Couture Europe Knivetonwood Investments KPMG L.E.K. Consulting LAN Airlines LBS Summer Consulting Team Leoni Sceti Group LISI Aerospace Lloyds Banking Group Lloyd’s of London LMS Capital LNG Capital London Organising Committee of the Olympic Games and Paralympic Games London School of Hygiene & Tropical Medicine L’Oréal Louis Dreyfus Louis Vuitton Luta
“we’re looking for the Best tAlent for the region, so we recruit froM the Best schools in the world And london Business school is ABsolutely one of our core schools gloBAlly.”
James Hadley, Managing Director Bain & Co, Middle East Inc
Artfinder Ashoka Atomico Axis Corporate Bain & Company Banco de Crédito del Perú Bangkok Bank Bank of America Merrill Lynch Bank of China International Barclays Barclays Capital Barclays Wealth BaseKit Bayer Business Consulting Beltana Consulting Better Capital Bibendum Wines Limited
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MBA recruiters
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Companies that hired students from London Business School in 2011, either on a permanent basis or during the summer.
PleaSe Note that many more companies presented on our campus and/or posted opportunities for our students
LVMH M&G m8 Capital Macquarie Madhu Jayanti International Limited Marakon Marks & Spencer McKinsey & Company ME Zukerman Investments Medtronic Medulla MFS Microsoft Ministry of Defence (Singapore) Ministry of Knowledge Economy (South Korea) Mizuho Corporate Bank Moelis & Company Monitor Group
Partners Group Pearson PepsiCo Permira Petrus Advisers Philip Morris International Philippine Stock Exchange PhosphonicS Pictet PIMCO Pioneer Point Partners Pioneer Point Partners LLP PPR Luxury Group PrivatBank Probitas Partners Prometech Software Prophet Prudential Qriously Rakuten Rangespan Reach to Teach REC Rhea Capital Partners Rio Tinto Risk Capital Partners Rockfield Energy Roland Berger Strategy Consultants Roshan Rothschild Royal Bank of Scotland Russell Investments S.A.C.I. Falabella s[edition] SAC Capital Advisors SAIC Samsung Electronics Samsung Fire & Marine Insurance Samsung Global Strategy Group
Samsung Securities Sanford C. Bernstein Santander Save the Children Schlumberger Business Consulting Schneider Electric Scorpio Partnership Scotia Capital SeaMicro Sequoia Capital SGMI Shell Shinhan Bank Siam Cement Group Siemens Management Consulting Smart Communications Soditic Asset Management Solon Management Consulting Songkick Sovereign Capital Partners SPIE UK Standard Chartered Bank Stark Investments Sumitomo Corporation Symantec Syngenta T. Rowe Price Tablo Media Taiwan Semiconductor Manufacturing Company Tate & Lyle Teacher Retirement System of Texas (TRS) Team Europe TechnoServe Telstra International Terra Firma Tex Technology The Ascott Limited The Boston Consulting Group The Business Growth Fund
The Nielsen Company The Parthenon Group Thomson Reuters Tishman Speyer Torch Partners ToughStuff True corporation Twig UBS UniCredit Management Consultancy Unilever United Overseas Bank United States Army Special Forces Universal Music V8 Supercars Australia Värde Partners Vector Vodafone Warburg Pincus Warner Brothers Waterland Private Equity White House Wildfire Interactive William J. Clinton Foundation William Morris Endeavor Wonga.com World Economic Forum World Gold Council WPP YES BANK YHP Holdings Zouk Ventures ZS Associates
“our recent hires froM london Business school hAve AdApted with reMArkABle eAse, Bringing with theM excellent coMMunicAtion skills, teAM spirit And the weAlth of experience froM their MBA And MiM courses.”
Henriette Smith UK HR Manager, A.T. Kearney
Morgan Stanley Mubadala Development Company Mubi Multiples Private Equity Murex Navigant Consulting Neuberger Berman News International NHS Nike Nomura Norgine Novartis OGM Investments Olivetree Securities One Development Group Opera Solutions Opportunity Asset Management Orange P2 Brasil Pala Investments
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MBA2011 employment profile
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Summary data
Sector choice on graduation
n Consulting n Finance n Corporate sectors
Marakon Prophet Schlumberger Business Consulting Monitor Group Finance Credit Suisse Goldman Sachs Deutsche Bank Citi Barclays Capital Nomura Bank of America Merrill Lynch Partners Group Morgan Stanley Barclays Wealth Mubadala Development Company Standard Chartered Bank Moelis & Company Russell Investments Santander UBS Barclays HSBC J.P. Morgan corporate sectors American Express Thomson Reuters Amazon Marks & Spencer Samsung Global Strategy Group adidas BT Johnson & Johnson Novartis DuPont Shell Syngenta Emerson Eli Lilly
3 2 2 2
93
Graduates who had accepted offers three months after graduation
6
%
Starting own Business
7
%
% 100
2005 2006 2007 2008 2009 2010 2011
15
25 80
25
23
29
31
25
36
%
Returning to previous employer
60
42 40
42
46
44
36
38
34
71
Starting with a new employer
%
20
33
33
31
27
33
37
30
8 8 7 4 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2
0
Major recruiters
consulting McKinsey & Company The Boston Consulting Group Bain & Company A.T. Kearney Accenture Booz & Company Roland Berger Strategy Consultants
39 21 10 8 7 7 3
7 5 4 3 3 3 3 2 2 2 2 2 2 2
MBA2011 career decisions
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employer sector
consulting Strategy Full Service Other Finance Investment Banking Investments – Private Equity/ Venture Capital Investments – Asset Management/ Hedge Funds Banking – Retail and Commercial Investments – Private Wealth Management Public Sector (Central Banks, Ministries, Regulation) Sell Side Research corporate sectors Industrial Products Financial Services/Credit Cards/Insurance TMT – Media TMT – Information Technology Energy FMCG Healthcare/Pharmaceuticals Retail / Luxury Goods TMT – Internet TMT – Telecommunications Charities/Not-For-Profit/ National Governmental Organisations TMT – Marketing/PR/Advertising 36% 30% 3% 3%
career transition
to consulting from Consulting Finance Corporate sectors to finance from 34% 14% 7% to corporate sectors 6% 4% 1% 1% 1% 30% 5% 4% 4% 3% 2% 2% 2% 2% 2% 2% 1% 1% Consulting Finance Corporate sectors 20% 10% 70% Consulting Finance Corporate sectors 17% 61% 22% 55% 10% 35%
Source of opportunity
School community Career Services (events, on-campus presentations, job postings, CV search) Networking Alumni Club events (fairs, panels, speakers, club CV books, etc) outside sources Personal contacts Executive search Internet job boards Speculative letters/cold calling 78% 65% 7% 4% 2%
22% 19% 1% 1% 1%
Primary reason for accepting job
Nature of work Promotion prospects Location Work/life balance Compensation 69% 12% 8% 6% 5%
“cAndidAtes froM london Business school consistently displAy A BAlAnce of AcAdeMic ABility And core Business skills, As well As hAving the cApAcity to leArn quickly. All of which Are cruciAl for A cAreer in An investMent BAnk.”
elia Ngai Graduate Recruitment, Deutsche Bank AG, Asia Pacific Head Office
“london Business school provided Me with unpArAlleled Access to the hedge funds industry in london”
MBA2011 graduate
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MBA2011 job location information
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MBA2011 grAduAtes went to work At orgAnisAtions in over 64 cities in 33 countries Around the world
region changes
The graphs below show who returns to work in their home region after their MBA and who works abroad. region Asia Australasia Europe (outside UK) Latin America Middle East UK USA/Canada Home 44% 40% 43% 51% 75% 88% 17% abroad 56% 60% 57% 49% 25% 12% 83%
Job location
United Kingdom Europe (outside UK) Asia Latin America USA/Canada Middle East Australasia 51% 21% 11% 7% 6% 3% 1%
This map illustrates the countries that our MBA2011 graduates are working in.
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MBA2011 salary information by industry
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Salary information overall Base Salary Sign-on bonus Year-End bonus consulting Base Salary Sign-on bonus Year-End bonus corporate sectors Base Salary Sign-on bonus Year-End bonus Finance Base Salary Sign-on bonus Year-End bonus Min £9,242 £2,639 £1,000 Min £43,977 £5,000 £2,639 Min £9,242 £2,639 £1,000 Min £51,688 £4,398 £3,051
Uk pounds Max £337,225 £39,022 £120,000 Max £109,261 £30,508 £51,767 Max £337,225 £36,610 £46,064 Max £122,032 £39,022 £120,000 Mean £73,955 £16,995 £21,722 Mean £73,860 £15,891 £14,432 Mean £74,293 £13,457 £14,906 Mean £73,739 £21,653 £43,899 Median £70,000 £15,000 £15,000 Median £72,061 £15,000 £12,314 Median £67,118 £12,203 £12,203 Median £68,228 £22,000 £39,022 Min $15,146 $4,324 $1,639 Min $72,075 $8,195 $4,324 Min $15,146 $4,324 $1,639 Min $84,711 $7,207 $5,000
US dollars* Max $552,681 $63,953 $196,669 Max $179,068 $50,000 $84,842 Max $552,681 $60,000 $75,496 Max $200,000 $63,953 $196,669 Mean $121,206 $27,853 $35,601 Mean $121,050 $26,044 $23,653 Mean $121,760 $22,054 $24,429 Mean $120,851 $35,488 $71,947 Median $114,724 $24,584 $24,584 Median $118,102 $24,584 $20,181 Median $110,000 $20,000 $20,000 Median $111,820 $36,056 $63,953
“the gloBAl network thAt you Build And the leArning opportunities you hAve froM Being exposed to the world Are the key Assets thAt i AM tAking with Me to succeed in My cAreer.”
MBA2011 graduate
*US dollars – converted at 1.63891 from pounds to dollars on 1 August 2011
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MBA2011 salary information by region
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Salary information asia Base Salary Sign-on bonus Year-End bonus australasia** Base Salary europe (excluding Uk) Base Salary Sign-on bonus Year-End bonus latin america Base Salary Sign-on bonus Year-End bonus Middle east Base Salary Sign-on bonus Year-End bonus United kingdom Base Salary Sign-on bonus Year-End bonus USa/canada Base Salary Sign-on bonus Year-End bonus Min £9,242 £2,845 £2,054 Min £91,051 Min £43,977 £2,639 £2,639 Min £48,022 £12,203 £8,679 Min £62,000 £12,000 £12,203 Min £40,000 £5,000 £1,000 Min £51,864 £6,102 £6,102
Uk pounds Max £103,159 £30,508 £63,482 Max £337,225 Max £171,695 £39,022 £54,630 Max £94,677 £30,508 £120,000 Max £122,032 £15,000 £36,610 Max £100,000 £39,000 £90,000 Max £167,794 £36,610 £61,016 Mean £59,207 £18,643 £22,958 Mean £154,871 Mean £79,481 £16,100 £15,974 Mean £77,030 £16,533 £40,056 Mean £85,429 £12,851 £17,774 Mean £69,855 £17,306 £22,489 Mean £80,037 £18,169 £19,680 Median £61,085 £18,636 £16,221 Median £95,603 Median £72,211 £15,609 £12,244 Median £82,653 £12,203 £22,902 Median £74,745 £12,202 £12,846 Median £70,000 £15,000 £15,000 Median £71,694 £18,305 £15,254 Min $15,146 $4,663 $3,366 Min $149,224 Min $72,075 $4,324 $4,324 Min $78,704 $20,000 $14,224 Min $101,612 $19,667 $20,000 Min $65,556 $8,195 $1,639 Min $85,000 $10,000 $10,000
US dollars* Max $169,068 $50,000 $104,042 Max $552,681 Max $281,393 $63,953 $89,534 Max $155,167 $50,000 $196,669 Max $200,000 $24,584 $60,000 Max $163,891 $63,917 $147,502 Max $275,000 $60,000 $100,000 Mean $97,034 $30,554 $37,627 Mean $253,819 Mean $130,263 $26,386 $26,180 Mean $126,245 $27,096 $65,648 Mean $140,010 $21,062 $29,130 Mean $114,486 $28,362 $36,858 Mean $131,173 $29,778 $32,254 Median $100,114 $30,543 $26,585 Median $156,685 Median $118,347 $25,581 $20,067 Median $135,461 $20,000 $37,534 Median $122,500 $19,999 $21,053 Median $114,724 $24,584 $24,584 Median $117,500 $30,000 $25,000
“the progrAMMe definitely gAve Me the Missing pieces And tools thAt i required to AccoMplish My professionAl goAls.”
MBa2011 graduate
*US dollars – converted at 1.63891 from pounds to dollars on 1 August 2011 ** Sample size is too small to report on bonus information for this region
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MBA2012 summer employment profile
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Summary data
employer sector
corporate sectors 41% 10% 5% 4% 4% 4% 3% 3% 2% 2% 1% 1% 1% 1% 40% 21% 5% 4% 1%
Primary location
United Kingdom Europe (outside UK) Asia Latin America USA/Canada Australasia Middle East Africa 62% 15% 11% 4% 3% 2% 2% 1%
100
Students undertaking internships/projects
Returning to a previous employer
TMT - Internet Healthcare/Pharmaceuticals FMCG
%
Self-employed
3
%
Energy Charities/Not-For-Profit/ National Governmental Organisations Financial Services/Credit Cards/Insurance TMT - Telecommunications Industrial Products TMT - Information Technology Retail / Luxury Goods Leisure/Sports/Entertainment TMT - Marketing/PR/Advertising TMT - Media Finance Investment Banking Investments – Asset Management/ Hedge Funds Banking – Retail and Commercial Public Sector (Central Banks, Ministries, Regulation) consulting Strategy Full service Other
Source of opportunity
School community Career Services (events, on-campus presentations, job postings, CV search) Networking Club events (fairs, panels, speakers, club CV books, etc) Alumni outside sources Personal contacts Speculative letters/cold calling Executive search/internet job boards 86% 76% 6% 3% 1% 14% 12% 1% 1%
7
%
15
11
90
Starting with a new employer
%
Investments – Private Equity/Venture Capital 9%
%
19% 17% 1% 1%
More than one employer
MBA2012 summer employment profile
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Major recruiters
consulting The Boston Consulting Group McKinsey & Company Bain & Company LBS Summer Consulting Team Booz & Company L.E.K. Consulting Accenture Monitor Group Solon Management Consulting The Parthenon Group Roland Berger Strategy Consultants 16 16 13 7 6 3 3 3 2 2 2 corporate sectors Google Johnson & Johnson Centrica American Express Shell Facebook Amazon PepsiCo Infosys Technologies Lloyd’s of London Endeavor Novartis Syngenta British Standards Institution Everything Everywhere Vodafone Unilever General Mills Groupon Anheuser-Busch InBev Huddlebuy s[edition] London Organising Committee of the Olympic Games and Paralympic Games L’Oréal 14 10 8 7 6 6 5 4 3 3 3 3 3 3 3 3 3 3 3 2 2 2 2 2 Finance Deutsche Bank Citi Goldman Sachs Bank of America Merrill Lynch Credit Suisse Standard Chartered Bank HSBC Nomura Morgan Stanley Barclays Capital J.P. Morgan Moelis & Company Santander Actis Permira Abraaj Capital Lloyds Banking Group UBS Debtwire MFS Bridges Ventures Canter Equity Partners Petrus Advisers International Finance Corporation (IFC) Hamilton Ventures Atomico 15 11 9 7 7 6 6 5 5 5 5 4 4 3 3 2 2 2 2 2 2 2 2 2 2 2
Weekly compensation
currency Min £103 £104 £103 £250 Uk pounds Max £2,023 £2,023 £1,775 £2,000 US dollars* Min $168 $170 $168 $410 Max $3,315 $3,315 $2,910 $3,278 Mean $1,766 $2,358 $1,400 $1,814 Median $1,803 $2,400 $1,475 $2,010 Mean £1,078 £1,439 £854 £1,107 Median £1,100 £1,464 £900 £1,226
Overall Consulting Corporate Sectors Finance currency
Overall Consulting Financial Services Industry
*US dollars – converted at 1.63891 from pounds to dollars on 1 August 2011
“the MBA progrAMMe At london Business school hAs given Me AMple opportunity to Better understAnd Myself As A leAder.”
MBA2012 student
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The London Business School programme portfolio
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Duration / Format / Primary study location Masters in Management 12 months / Full-time / london For recent graduates with less than one year of full-time postgraduate work experience. MBa 15 - 21 months / Full-time / london For individuals who are looking to make a vertical shift in their career path, change industry or job function, or develop an entrepreneurial toolkit. Masters in Finance 10 months full-time / 22 months weekend study / london For individuals wishing to advance their career or change their area within finance. executive MBa 20 months / Study while working full-time / london or Dubai Designed for those who want to accelerate their career into general management or move beyond their technical or functional specialism. eMBa-Global americas and europe 20 months / Study while working full-time / london and New York For dynamic, mid-career managers and professionals who are highly ambitious and have, or aspire to have, transnational responsibilities. eMBa-Global asia 20 months / Study while working full-time / Hong kong For dynamic, globally-focused executives and managers wishing to deepen their understanding of western and eastern business practices. Sloan Masters in leadership and Strategy 12 months / Full-time / london Designed to prepare experienced senior managers for their next career challenge. executive education Our Executive Education portfolio comprises both open enrolment and company specific programmes. Open programmes range from three days to four weeks in length and span general management, finance, HR, leadership, strategic marketing and strategy.
recent graduate
early career
Mid career
Senior manager
Find out more Masters Programmes Telephone: +44 (0)20 7000 7500 Email: [email protected] executive education Telephone: +44 (0)20 7000 7390 Email: [email protected] recruit students from any of our masters programmes Telephone: +44 (0)20 7000 7400 Email: [email protected]
“the progrAMMe hAs certAinly given Me the tools And confidence to pursue An entrepreneuriAl cAreer – soMething i’M not sure i would hAve done Before london Business school”
MBA2011 graduate
All admissions decisions are taken in accordance with best equal opportunities practice.
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MBA Employment Report 2011
Access global talent from the world’s number one business school
www.london.edu/recruitourtalent/
Introduction
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From the Director
It has been another year to celebrate for London Business School’s full-time MBA programme. The Financial Times placed us number one for the third year in a row in their global rankings; the percentage of 2011 alumni securing employment 3 months after graduation has increased to 93%, up from 91% in 2010, and the number of students undertaking summer internships hit 100%. I would like to thank our recruiters for believing in the impact that our students and graduates can have in their organisations and continuing to hire from the School through these uncertain times. My first full year as Career Services Director at the School has been a rewarding one in which we have built on past successes and taken the courage to try new initiatives. The intention is always to improve further our relationships with organisations around the world and prepare and support our students in finding employment. For the first time we created sector specific CV books, making it even easier for recruiters in some of the major sectors to find the talent that they need. The team is working more closely than ever with student clubs, including supporting a growing number of career treks. The treks to Shanghai, Hong Kong and Singapore have contributed to the increase of graduates finding roles in Asia, 11% compared to 7% in 2010. This region continues to be a focus for the School and the Career Services team. In addition, our MBA programme has undergone an exciting review to ensure that we continue to offer participants and employers what they need at a world-class level. This year’s employment report shows that there was a fairly even split in sector choice, with 36% of our 2011 MBA graduates finding employment in consulting, 34% in finance and 30% in other corporate sectors. Although this is the first time in several years that the majority of our full-time MBA graduates have gone into consulting, the transition data indicates that a smaller percentage have changed sectors this year (55% of those with roles in consulting had a previous background in consulting – compared to 42% last year and 61% of those in finance had a finance background compared to 55% last year). This suggests that in times of uncertainly it becomes harder to change sectors of employment as organisations prefer to recruit those with experience in their field. Whatever your relationship with the School, I hope that you find this employment report informative and useful. Best wishes,
“our MBA progrAMMe hAs undergone An exciting review to ensure thAt we continue to offer pArticipAnts And eMployers whAt they need At A worldclAss level.”
Fiona Sandford Director, Career Services, London Business School
Fiona Sandford Director, Career Services, London Business School www.london.edu/recruitourtalent
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MBA2011/12 class profile
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MBa2011
5 4
6
7 1
MBa2012
5 2 4
6
7 1
2 3
3
class profile Students Age range Average age Average work experience (years) Work experience range* (years) Primary nationalities GMAT range GMAT average % female 403 23-39 28.3 5.3 2-14 59 600-780 697 27%
regional background 1 Europe (excluding UK) 2 Asia 3 USA/Canada 4 Latin America 5 UK 6 Middle East/Africa 7 Australasia 31% n 21% n 16% n 12% n 10% n 6% n 4% n
class profile Students Age range Average age Average work experience (years) Work experience range* (years) Primary nationalities GMAT range GMAT average % female 400 23-39 28 5 2-14 62 600-780 701 28%
regional background 1 Europe (excluding UK) 2 Asia 3 USA/Canada 4 Latin America 5 UK 6 Middle East/Africa 7 Australasia 31% n 20% n 14% n 12% n 11% n 7% n 5% n
1
1
3
3
2
2
Professional background (pre-MBa) 1 Corporate sectors 2 Finance 3 Consulting 42% n 31% n 27% n
Professional background (pre-MBa) 1 Corporate sectors 2 Finance 3 Consulting 41% n 30% n 29% n
This is a current profile. Our admissions decisions are taken in accordance with best equal opportunities practice. * Typically participants have between five and six years relevant (management) experience, although each applicant will be considered on his/her own merit. The School values diversity and promotes a positive work and study environment.
3
MBA recruiters
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Companies that hired students from London Business School in 2011, either on a permanent basis or during the summer.
PleaSe Note that many more companies presented on our campus and/or posted opportunities for our students
1OAK Financial Group 3i A.T. Kearney Abraaj Capital Abtech Systems Accenture Actis adidas African Development Corporation AIG East Asia Holdings Albourne Partners Alcon Novartis Allianz Global Investors Almaz Capital Partners Alvarez & Marsal Amazon American Century Investments American Express Amgen Anheuser-Busch InBev Antique Wine Company Apple
Booz & Company Boubyan Capital BP Bridges Ventures British Fashion Council British Land British Standards Institution BT Burberry Campbell Lutyens Canada Pension Plan Investment Board Canter Equity Partners Capricorn Consulting Group Centrica CEPSA Chemidex Pharma Citi Clayton Utz Clean World Capital Climate Change Capital Coller Capital Commerzbank Cordea Savills Crédit Agricole Corporate & Investment Bank Credit Suisse Debtwire Deutsche Bank Development Partners International Diamond Advisory Services at PWC Direcional Engenharia Discovery Communications Dpluse DuPont E.ON EBRD Edoma Partners Ekistics Property Advisors LLP Eleqtra Eli Lilly
Elsevier Emerson Endeavor Endeavour Ventures Epersimove Ernst & Young European Central Bank Everything Everywhere Expandys Facebook Facelift BBT FCF Fox Corporate Finance Fidelity FMR Fidelity Worldwide Finisterre Capital Fleming Family & Partners ForumGruppe Freitag & Co FSA Future Holdings Innovation Garlik Gatsby Charitable Foundation Gatwick Airport GE Capital GE Consumer Finance GE Healthcare GEM General Mills Gimv GLC Glencore Global Banking Corporation globalCOAL Goldman Sachs Goldman Sachs Asset Management Google Greenpark Capital Groupon Grovepoint Capital
Grupo Higa GSMA Hamilton Ventures Herschel Capital Advisors Hines Associates Limited Honeywell HSBC Huawei Huddlebuy Industry Corporate Finance Infosys Consulting Inc. Infosys Technologies InfraCo Innovation Labs Interbrand International Finance Corporation (IFC) J. Walter Thompson J.P. Morgan Jefferies Johnson & Johnson Juicy Couture Europe Knivetonwood Investments KPMG L.E.K. Consulting LAN Airlines LBS Summer Consulting Team Leoni Sceti Group LISI Aerospace Lloyds Banking Group Lloyd’s of London LMS Capital LNG Capital London Organising Committee of the Olympic Games and Paralympic Games London School of Hygiene & Tropical Medicine L’Oréal Louis Dreyfus Louis Vuitton Luta
“we’re looking for the Best tAlent for the region, so we recruit froM the Best schools in the world And london Business school is ABsolutely one of our core schools gloBAlly.”
James Hadley, Managing Director Bain & Co, Middle East Inc
Artfinder Ashoka Atomico Axis Corporate Bain & Company Banco de Crédito del Perú Bangkok Bank Bank of America Merrill Lynch Bank of China International Barclays Barclays Capital Barclays Wealth BaseKit Bayer Business Consulting Beltana Consulting Better Capital Bibendum Wines Limited
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MBA recruiters
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Companies that hired students from London Business School in 2011, either on a permanent basis or during the summer.
PleaSe Note that many more companies presented on our campus and/or posted opportunities for our students
LVMH M&G m8 Capital Macquarie Madhu Jayanti International Limited Marakon Marks & Spencer McKinsey & Company ME Zukerman Investments Medtronic Medulla MFS Microsoft Ministry of Defence (Singapore) Ministry of Knowledge Economy (South Korea) Mizuho Corporate Bank Moelis & Company Monitor Group
Partners Group Pearson PepsiCo Permira Petrus Advisers Philip Morris International Philippine Stock Exchange PhosphonicS Pictet PIMCO Pioneer Point Partners Pioneer Point Partners LLP PPR Luxury Group PrivatBank Probitas Partners Prometech Software Prophet Prudential Qriously Rakuten Rangespan Reach to Teach REC Rhea Capital Partners Rio Tinto Risk Capital Partners Rockfield Energy Roland Berger Strategy Consultants Roshan Rothschild Royal Bank of Scotland Russell Investments S.A.C.I. Falabella s[edition] SAC Capital Advisors SAIC Samsung Electronics Samsung Fire & Marine Insurance Samsung Global Strategy Group
Samsung Securities Sanford C. Bernstein Santander Save the Children Schlumberger Business Consulting Schneider Electric Scorpio Partnership Scotia Capital SeaMicro Sequoia Capital SGMI Shell Shinhan Bank Siam Cement Group Siemens Management Consulting Smart Communications Soditic Asset Management Solon Management Consulting Songkick Sovereign Capital Partners SPIE UK Standard Chartered Bank Stark Investments Sumitomo Corporation Symantec Syngenta T. Rowe Price Tablo Media Taiwan Semiconductor Manufacturing Company Tate & Lyle Teacher Retirement System of Texas (TRS) Team Europe TechnoServe Telstra International Terra Firma Tex Technology The Ascott Limited The Boston Consulting Group The Business Growth Fund
The Nielsen Company The Parthenon Group Thomson Reuters Tishman Speyer Torch Partners ToughStuff True corporation Twig UBS UniCredit Management Consultancy Unilever United Overseas Bank United States Army Special Forces Universal Music V8 Supercars Australia Värde Partners Vector Vodafone Warburg Pincus Warner Brothers Waterland Private Equity White House Wildfire Interactive William J. Clinton Foundation William Morris Endeavor Wonga.com World Economic Forum World Gold Council WPP YES BANK YHP Holdings Zouk Ventures ZS Associates
“our recent hires froM london Business school hAve AdApted with reMArkABle eAse, Bringing with theM excellent coMMunicAtion skills, teAM spirit And the weAlth of experience froM their MBA And MiM courses.”
Henriette Smith UK HR Manager, A.T. Kearney
Morgan Stanley Mubadala Development Company Mubi Multiples Private Equity Murex Navigant Consulting Neuberger Berman News International NHS Nike Nomura Norgine Novartis OGM Investments Olivetree Securities One Development Group Opera Solutions Opportunity Asset Management Orange P2 Brasil Pala Investments
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MBA2011 employment profile
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Summary data
Sector choice on graduation
n Consulting n Finance n Corporate sectors
Marakon Prophet Schlumberger Business Consulting Monitor Group Finance Credit Suisse Goldman Sachs Deutsche Bank Citi Barclays Capital Nomura Bank of America Merrill Lynch Partners Group Morgan Stanley Barclays Wealth Mubadala Development Company Standard Chartered Bank Moelis & Company Russell Investments Santander UBS Barclays HSBC J.P. Morgan corporate sectors American Express Thomson Reuters Amazon Marks & Spencer Samsung Global Strategy Group adidas BT Johnson & Johnson Novartis DuPont Shell Syngenta Emerson Eli Lilly
3 2 2 2
93
Graduates who had accepted offers three months after graduation
6
%
Starting own Business
7
%
% 100
2005 2006 2007 2008 2009 2010 2011
15
25 80
25
23
29
31
25
36
%
Returning to previous employer
60
42 40
42
46
44
36
38
34
71
Starting with a new employer
%
20
33
33
31
27
33
37
30
8 8 7 4 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2
0
Major recruiters
consulting McKinsey & Company The Boston Consulting Group Bain & Company A.T. Kearney Accenture Booz & Company Roland Berger Strategy Consultants
39 21 10 8 7 7 3
7 5 4 3 3 3 3 2 2 2 2 2 2 2
MBA2011 career decisions
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employer sector
consulting Strategy Full Service Other Finance Investment Banking Investments – Private Equity/ Venture Capital Investments – Asset Management/ Hedge Funds Banking – Retail and Commercial Investments – Private Wealth Management Public Sector (Central Banks, Ministries, Regulation) Sell Side Research corporate sectors Industrial Products Financial Services/Credit Cards/Insurance TMT – Media TMT – Information Technology Energy FMCG Healthcare/Pharmaceuticals Retail / Luxury Goods TMT – Internet TMT – Telecommunications Charities/Not-For-Profit/ National Governmental Organisations TMT – Marketing/PR/Advertising 36% 30% 3% 3%
career transition
to consulting from Consulting Finance Corporate sectors to finance from 34% 14% 7% to corporate sectors 6% 4% 1% 1% 1% 30% 5% 4% 4% 3% 2% 2% 2% 2% 2% 2% 1% 1% Consulting Finance Corporate sectors 20% 10% 70% Consulting Finance Corporate sectors 17% 61% 22% 55% 10% 35%
Source of opportunity
School community Career Services (events, on-campus presentations, job postings, CV search) Networking Alumni Club events (fairs, panels, speakers, club CV books, etc) outside sources Personal contacts Executive search Internet job boards Speculative letters/cold calling 78% 65% 7% 4% 2%
22% 19% 1% 1% 1%
Primary reason for accepting job
Nature of work Promotion prospects Location Work/life balance Compensation 69% 12% 8% 6% 5%
“cAndidAtes froM london Business school consistently displAy A BAlAnce of AcAdeMic ABility And core Business skills, As well As hAving the cApAcity to leArn quickly. All of which Are cruciAl for A cAreer in An investMent BAnk.”
elia Ngai Graduate Recruitment, Deutsche Bank AG, Asia Pacific Head Office
“london Business school provided Me with unpArAlleled Access to the hedge funds industry in london”
MBA2011 graduate
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MBA2011 job location information
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MBA2011 grAduAtes went to work At orgAnisAtions in over 64 cities in 33 countries Around the world
region changes
The graphs below show who returns to work in their home region after their MBA and who works abroad. region Asia Australasia Europe (outside UK) Latin America Middle East UK USA/Canada Home 44% 40% 43% 51% 75% 88% 17% abroad 56% 60% 57% 49% 25% 12% 83%
Job location
United Kingdom Europe (outside UK) Asia Latin America USA/Canada Middle East Australasia 51% 21% 11% 7% 6% 3% 1%
This map illustrates the countries that our MBA2011 graduates are working in.
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MBA2011 salary information by industry
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Salary information overall Base Salary Sign-on bonus Year-End bonus consulting Base Salary Sign-on bonus Year-End bonus corporate sectors Base Salary Sign-on bonus Year-End bonus Finance Base Salary Sign-on bonus Year-End bonus Min £9,242 £2,639 £1,000 Min £43,977 £5,000 £2,639 Min £9,242 £2,639 £1,000 Min £51,688 £4,398 £3,051
Uk pounds Max £337,225 £39,022 £120,000 Max £109,261 £30,508 £51,767 Max £337,225 £36,610 £46,064 Max £122,032 £39,022 £120,000 Mean £73,955 £16,995 £21,722 Mean £73,860 £15,891 £14,432 Mean £74,293 £13,457 £14,906 Mean £73,739 £21,653 £43,899 Median £70,000 £15,000 £15,000 Median £72,061 £15,000 £12,314 Median £67,118 £12,203 £12,203 Median £68,228 £22,000 £39,022 Min $15,146 $4,324 $1,639 Min $72,075 $8,195 $4,324 Min $15,146 $4,324 $1,639 Min $84,711 $7,207 $5,000
US dollars* Max $552,681 $63,953 $196,669 Max $179,068 $50,000 $84,842 Max $552,681 $60,000 $75,496 Max $200,000 $63,953 $196,669 Mean $121,206 $27,853 $35,601 Mean $121,050 $26,044 $23,653 Mean $121,760 $22,054 $24,429 Mean $120,851 $35,488 $71,947 Median $114,724 $24,584 $24,584 Median $118,102 $24,584 $20,181 Median $110,000 $20,000 $20,000 Median $111,820 $36,056 $63,953
“the gloBAl network thAt you Build And the leArning opportunities you hAve froM Being exposed to the world Are the key Assets thAt i AM tAking with Me to succeed in My cAreer.”
MBA2011 graduate
*US dollars – converted at 1.63891 from pounds to dollars on 1 August 2011
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MBA2011 salary information by region
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Salary information asia Base Salary Sign-on bonus Year-End bonus australasia** Base Salary europe (excluding Uk) Base Salary Sign-on bonus Year-End bonus latin america Base Salary Sign-on bonus Year-End bonus Middle east Base Salary Sign-on bonus Year-End bonus United kingdom Base Salary Sign-on bonus Year-End bonus USa/canada Base Salary Sign-on bonus Year-End bonus Min £9,242 £2,845 £2,054 Min £91,051 Min £43,977 £2,639 £2,639 Min £48,022 £12,203 £8,679 Min £62,000 £12,000 £12,203 Min £40,000 £5,000 £1,000 Min £51,864 £6,102 £6,102
Uk pounds Max £103,159 £30,508 £63,482 Max £337,225 Max £171,695 £39,022 £54,630 Max £94,677 £30,508 £120,000 Max £122,032 £15,000 £36,610 Max £100,000 £39,000 £90,000 Max £167,794 £36,610 £61,016 Mean £59,207 £18,643 £22,958 Mean £154,871 Mean £79,481 £16,100 £15,974 Mean £77,030 £16,533 £40,056 Mean £85,429 £12,851 £17,774 Mean £69,855 £17,306 £22,489 Mean £80,037 £18,169 £19,680 Median £61,085 £18,636 £16,221 Median £95,603 Median £72,211 £15,609 £12,244 Median £82,653 £12,203 £22,902 Median £74,745 £12,202 £12,846 Median £70,000 £15,000 £15,000 Median £71,694 £18,305 £15,254 Min $15,146 $4,663 $3,366 Min $149,224 Min $72,075 $4,324 $4,324 Min $78,704 $20,000 $14,224 Min $101,612 $19,667 $20,000 Min $65,556 $8,195 $1,639 Min $85,000 $10,000 $10,000
US dollars* Max $169,068 $50,000 $104,042 Max $552,681 Max $281,393 $63,953 $89,534 Max $155,167 $50,000 $196,669 Max $200,000 $24,584 $60,000 Max $163,891 $63,917 $147,502 Max $275,000 $60,000 $100,000 Mean $97,034 $30,554 $37,627 Mean $253,819 Mean $130,263 $26,386 $26,180 Mean $126,245 $27,096 $65,648 Mean $140,010 $21,062 $29,130 Mean $114,486 $28,362 $36,858 Mean $131,173 $29,778 $32,254 Median $100,114 $30,543 $26,585 Median $156,685 Median $118,347 $25,581 $20,067 Median $135,461 $20,000 $37,534 Median $122,500 $19,999 $21,053 Median $114,724 $24,584 $24,584 Median $117,500 $30,000 $25,000
“the progrAMMe definitely gAve Me the Missing pieces And tools thAt i required to AccoMplish My professionAl goAls.”
MBa2011 graduate
*US dollars – converted at 1.63891 from pounds to dollars on 1 August 2011 ** Sample size is too small to report on bonus information for this region
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MBA2012 summer employment profile
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Summary data
employer sector
corporate sectors 41% 10% 5% 4% 4% 4% 3% 3% 2% 2% 1% 1% 1% 1% 40% 21% 5% 4% 1%
Primary location
United Kingdom Europe (outside UK) Asia Latin America USA/Canada Australasia Middle East Africa 62% 15% 11% 4% 3% 2% 2% 1%
100
Students undertaking internships/projects
Returning to a previous employer
TMT - Internet Healthcare/Pharmaceuticals FMCG
%
Self-employed
3
%
Energy Charities/Not-For-Profit/ National Governmental Organisations Financial Services/Credit Cards/Insurance TMT - Telecommunications Industrial Products TMT - Information Technology Retail / Luxury Goods Leisure/Sports/Entertainment TMT - Marketing/PR/Advertising TMT - Media Finance Investment Banking Investments – Asset Management/ Hedge Funds Banking – Retail and Commercial Public Sector (Central Banks, Ministries, Regulation) consulting Strategy Full service Other
Source of opportunity
School community Career Services (events, on-campus presentations, job postings, CV search) Networking Club events (fairs, panels, speakers, club CV books, etc) Alumni outside sources Personal contacts Speculative letters/cold calling Executive search/internet job boards 86% 76% 6% 3% 1% 14% 12% 1% 1%
7
%
15
11
90
Starting with a new employer
%
Investments – Private Equity/Venture Capital 9%
%
19% 17% 1% 1%
More than one employer
MBA2012 summer employment profile
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Major recruiters
consulting The Boston Consulting Group McKinsey & Company Bain & Company LBS Summer Consulting Team Booz & Company L.E.K. Consulting Accenture Monitor Group Solon Management Consulting The Parthenon Group Roland Berger Strategy Consultants 16 16 13 7 6 3 3 3 2 2 2 corporate sectors Google Johnson & Johnson Centrica American Express Shell Facebook Amazon PepsiCo Infosys Technologies Lloyd’s of London Endeavor Novartis Syngenta British Standards Institution Everything Everywhere Vodafone Unilever General Mills Groupon Anheuser-Busch InBev Huddlebuy s[edition] London Organising Committee of the Olympic Games and Paralympic Games L’Oréal 14 10 8 7 6 6 5 4 3 3 3 3 3 3 3 3 3 3 3 2 2 2 2 2 Finance Deutsche Bank Citi Goldman Sachs Bank of America Merrill Lynch Credit Suisse Standard Chartered Bank HSBC Nomura Morgan Stanley Barclays Capital J.P. Morgan Moelis & Company Santander Actis Permira Abraaj Capital Lloyds Banking Group UBS Debtwire MFS Bridges Ventures Canter Equity Partners Petrus Advisers International Finance Corporation (IFC) Hamilton Ventures Atomico 15 11 9 7 7 6 6 5 5 5 5 4 4 3 3 2 2 2 2 2 2 2 2 2 2 2
Weekly compensation
currency Min £103 £104 £103 £250 Uk pounds Max £2,023 £2,023 £1,775 £2,000 US dollars* Min $168 $170 $168 $410 Max $3,315 $3,315 $2,910 $3,278 Mean $1,766 $2,358 $1,400 $1,814 Median $1,803 $2,400 $1,475 $2,010 Mean £1,078 £1,439 £854 £1,107 Median £1,100 £1,464 £900 £1,226
Overall Consulting Corporate Sectors Finance currency
Overall Consulting Financial Services Industry
*US dollars – converted at 1.63891 from pounds to dollars on 1 August 2011
“the MBA progrAMMe At london Business school hAs given Me AMple opportunity to Better understAnd Myself As A leAder.”
MBA2012 student
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The London Business School programme portfolio
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Duration / Format / Primary study location Masters in Management 12 months / Full-time / london For recent graduates with less than one year of full-time postgraduate work experience. MBa 15 - 21 months / Full-time / london For individuals who are looking to make a vertical shift in their career path, change industry or job function, or develop an entrepreneurial toolkit. Masters in Finance 10 months full-time / 22 months weekend study / london For individuals wishing to advance their career or change their area within finance. executive MBa 20 months / Study while working full-time / london or Dubai Designed for those who want to accelerate their career into general management or move beyond their technical or functional specialism. eMBa-Global americas and europe 20 months / Study while working full-time / london and New York For dynamic, mid-career managers and professionals who are highly ambitious and have, or aspire to have, transnational responsibilities. eMBa-Global asia 20 months / Study while working full-time / Hong kong For dynamic, globally-focused executives and managers wishing to deepen their understanding of western and eastern business practices. Sloan Masters in leadership and Strategy 12 months / Full-time / london Designed to prepare experienced senior managers for their next career challenge. executive education Our Executive Education portfolio comprises both open enrolment and company specific programmes. Open programmes range from three days to four weeks in length and span general management, finance, HR, leadership, strategic marketing and strategy.
recent graduate
early career
Mid career
Senior manager
Find out more Masters Programmes Telephone: +44 (0)20 7000 7500 Email: [email protected] executive education Telephone: +44 (0)20 7000 7390 Email: [email protected] recruit students from any of our masters programmes Telephone: +44 (0)20 7000 7400 Email: [email protected]
“the progrAMMe hAs certAinly given Me the tools And confidence to pursue An entrepreneuriAl cAreer – soMething i’M not sure i would hAve done Before london Business school”
MBA2011 graduate
All admissions decisions are taken in accordance with best equal opportunities practice.
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