Real Estate, Finance Firms Reign In MBA Recruiting

Real estate firms and banks are offering fewer full-time gigs, but internships and summer jobs are still being offered as usual.

BusinessWeek reports that career service offices at many business schools are seeing certain industries (guess which ones) curtail recruiting for full-time positions. In particular, there may be fewer offers in real estate and structured finance, as well as banking.

At Carnegie Mellon, Morgan Stanley and Deutsche Bank recently canceled second-year recruiting events And at UNC Chapel Hill’s Kenan-Flagler B-School, Centex, Toll Brothers and Pulte Homes did not recruit from the school.

Private equity jobs are few and far between. Hypothesizes Jonathan Masland, a career officer at Tuck: “There are fewer full-time roles for MBAs because some of these are now being filled by the promotion of an analyst into an associate role, where in the past these people left and went to private equity firms,” Masland said.

Yet banks haven’t cut back on internships and summer offers. Even Bear Stearns is still hiring for the summer, reports BusinessWeek.

“For students in MBA programs who are concerned that banks might be pulling back, our message is: We are here on campus, we’re interviewing, and we have positions that we are hiring for,” Tom Labadie, Bear Stearns’ director of university relation, told BusinessWeek


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