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Today's job market for graduate business students is extremely competitive. While completing an MBA/MS degree is impressive, employers generally prefer to hire full-time candidates with relevant work experience. The key to finding the right internship is being aware of your options, determining your priorities and knowing how to market yourself to a potential employer. Before you begin your search, consider the following:
Keep an Open Mind
Many fail to consider that financier and accountant (or any other business specialty) opportunities exist within all types of industries including the government, consumer products companies, non-profits and more. However, one who only looks for positions with top financial services firms or the Big 5 will never know this. For example, refer to the following resources to begin your out-of-the-box research:
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Be Realistic
Focus on obtainable career objectives and remind yourself how competitive the market really is. Ask yourself if it's more important to supplement your income or strengthen your resume and value to an employer. If it's the latter, consider unpaid internships or volunteer opportunities that will later land you that paid internship or full-time job. Remember, work experience does not only qualify as paid experience.
Diversify Your Job Search
Posting your resume on the web is only one step to a successful job search. A recent Wall Street Journal article noted that only 4% of nearly 2,800 Internet users surveyed online found their latest position on the web. Meanwhile, 64% of 7,400 job seekers who received outplacement counseling said they obtained their newest job via networking. Begin building and maintaining relationships with your professors and fellow classmates who will become future colleagues! Other strategies include:
The Career Center
Visit our office to view our massive internship binders and meet with an advisor to discuss your job search strategy. Attend networking events, advanced interviewing workshops and seminars featuring corporate representatives. To learn more about the services we offer to MBA/MS students, please see Services for MBA's. In addition, view a list of internship web links.
Connect with Alumni
The Career Center and the Office of Alumni Relations have developed an alumni mentor network titled Count on Alumni for Career Help (COACH). This is a database of St. John's alums who have volunteered their time to current students. This could include an email, phone call or informational interview with a St. John's alum who is currently working in your area of interest. Gain access to this database by registering with MonsterTRAK. Please also review the events sponsored by the Office of Alumni Relations.
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Classified Ads
Monitor weekly classified ads in popular newspapers. Again, think outside the box. A company advertising a need for a marketing director to manage a newly created marketing department may also have a need for marketing representatives/executives.
Search Firms
Executive search firms and employment agencies work the best for candidates who have experience in their field and want a similar job, but with a different company. These firms typically may not have opportunities for career changers, those just completing their degree or those who simply want to find an internship. However, you should consider temporary work as an alternative if you are unable to find an internship or while you are looking for an internship. Temporary work will provide you with on-the-job experience and exposure to the world of work. You will also be working side-by-side with several full-time professionals whom you can network with on a daily basis. Many full-time jobs develop from temporary positions. There are several search firm directories located in The Career Center (refer to those listed under 'Books & Directories' of this handout).
Professional Associations
These organizations provide you with a chance to meet seasoned professionals within your industry of interest. Many associations publish a monthly newsletter or paper where they advertise job openings, highlight ground breaking industry-specific news and outline credentials necessary for success within a particular field.
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Read
Regularly read professional publications and trade papers to stay apprised of market and industry trends. Stay tuned to good news, i.e. higher-than-expected quarter earnings, acquisitions, recent surge in sales/profits, introduction of product/services into a new market/location, research and development, etc.
Target Mailings
Targeted mailings are not generic mass mailings of hundreds of resumes. Rather, a target mailing campaign involves sending a tailored cover letter and resume to the head of the department in which you would like to work and the human resources director within each company on your target list of companies. These letters should be followed up with a phone call. The key to an effective target letter is standing out from the rest, illustrating your understanding of the company's direction, philosophy, etc. One example of a target letter: "Recently, I read an article on Mercer Management Consulting in The Professional Consultant. I was particularly interested to learn that you are growing your Information Technology consulting practice. I am confident you will find that I have the knowledge and expertise to join your team of consultants." You would then discuss how your experience has prepared you for work with this target company.
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Books & Directories
These can provide you with pages of company contact information as well as opportunities offered by each organization. Visit The Career Center library for a look at additional resources as well as those listed below:
- The Yale Daily News Internships 2000. B. Baird, The Career Center Library
- Peterson's Internships 2002. Peterson's Guides, The Career Center Library
- Internship Success. Green, The Career Center Library
- American Almanac of Jobs and Salaries. J. Wright, The Career Center Library
- The Job Seekers Guide to 1,000 Top Employers. J. Mast, The Career Center Library
- New York Job Bank 2000. Adams Media Corp., The Career Center Library
- Hoover's Guide to New York Companies. Hoover's Business Press, The Career Center Library
- Hoover's Handbook of American Business 2000. Hoover's Business Press, The Career Center Library
- Hoover's Handbook of Emerging Companies 2000. Hoover's Business Press, The Career Center Library
- Hoover's Handbook of World Business 2000. Hoover's Business Press, The Career Center Library
- Hoover's Handbook of Private Companies 2000. Hoover's Business Press, The Career Center Library
- The Directory of Executive Recruiters 2000. Kennedy Information, The Career Center Library
- Executive Recruiters Almanac. Adams Media Corp., The Career Center Library
- The Internship Bible. M. Oldman & S. Hamadeh, $17.50 on Amazon.com
- America's Top Internships. M. Oldman, $8.30 on Amazon.com
Web Resources
The web is only one source to a complete job search strategy.
Career Planit
Career Magazine
Career Mart
Careers in Business
City of New York Summer Internship Directory
Employment911.com
Internet Career Connection
Internship Resources on the Web
Internweb.com
JobBank USA
The Riley Guide
Rising Star Internships
Summer Jobs
Vault
Wet Feet
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