Tuesday, February 23, 2010 - 11:00 AM CST
Moderator: Hello and welcome to our Live Chat about less traditional careers at Booth! The chat willbegin promptly at 11:00am CST, but please feel free to start submitting questions now!
Moderator: You can read the bios of our students and staff chatting today at:
Moderator: The chat today focuses on less traditional careers at Booth. We'll focus on answering questions today around this topic. If you have admissions related questions, please visit our Discussion Forums at http://www.chicagobooth.edu/fulltime/forums/index.aspx
Moderator: Hello and welcome to our Live Chat about less traditional careers at Booth! The chat will begin promptly at 11:00am CST. Please feel free to start submitting questions now!
Moderator: You can read the bios of our students and staff chatting today at:
Camilo: Hi, my name is Camilo and I am a second year student. Before Booth I worked in Corporate Development Services at Jones Lang LaSalle. This summer I interned at the New Jersey Pension Fund focusing on Real Estate investments and following graduation I will be an Associate working for Bank of America Merrill Lynch in Real Estate Investment Banking. I look forward to hearing your questions.
Kathrin: Hi, I'm Kathrin, a second year student and native German. Before Booth, I worked as a management consultant at BCG Munich for three years, and I'm going back there after school. In 2-3 years I am planning to take on a management role in my family business in Germany, which runs a chain of fashion stores. I am a co-founder and co-chair of the Family Business Group, and I'm happy to answer any questions you have around Family Businesses, but also consulting and entrepreneurship (I did my summer internship at World of Good, a start-up in the fair trade space).
Dyisha: Hi! My name is Dyisha Reliford and I am a first year student at Chicago Booth. Before graduate school, I spent 3 years teaching elementary school and 5 years working in Pharmaceutical Sales for Pfizer Inc. At Booth, I am active in the Healthcare and Marketing Groups and also a member in GPHAP (Health Policy & Certificate program). I'm concentrating in Marketing, Strategy, and General Management. This summer I am working in a Healthcare General Management/Marketing role. I received several offers and am making a decision this week.
Eddie: Hi everyone! My name is Eddie Pulliam, Senior Associate Director of Admissions here at Chicago Booth. Looking forward to talking with you all today and answering any questions you may have about Admissions, or Booth in general.
John-Frédérick: Hi everyone, I am John-Frederick.
John-Frédérick: I am a second year student and I am in charge of the Energy Group at Booth, together with 6 other students.
John-Frédérick: My last professional activity prior to joining Booth was in the photovoltaics industry and last summer I interned at GDF Suez, the second largest utility company in the world. I was located in Dubai and was in charge of the project finance for a 2,000 MW gas plant to be built in Riyadh, Saudi Arabia.
John-Frédérick: Happy to answer all your questions related to energy at Booth.
Pam: Welcome from Career Services - as one of our career coaches, I look forward to discussing any career related questions you have, particularly, the resources and support we provide to assist with career exploration and the job search.
Jessica: Hello from the Harper Center in Chicago...I head up global employer development within Career Services, identifying and cultivating new company relationships on behalf of our students and alumni. Three of my team members sit in Chicago, and we also have an employer development team member in London and Hong Kong, covering EMEA and Asia, respectively. I've been with Booth for about 5 years, and looking forward to chatting with all of you...
Adam: Hello! I am a first year joint MBA/MPP student at Booth. Before school, I worked in management consulting and also in a family-run retail furniture business. This summer, I am working for Education Pioneers, a non-profit group that connects graduate students with education-sector employment.
Jessie: Hi, there! I'm Jessie Liu, a second-year student, from Boston, MA. I went to UCBerkeley for undergrad, spent 4 years in advertising, and interned last summer at Chicago 2016, the (sadly unsuccessful) Olympic/Paralympic Games bid. I'm now pursuing an off-campus, non-traditional, non-MBA-needed career in sports marketing. I'm involved with the Dean's Student Admissions Committee, Media & Entertainment Group, Marketing Group, and Epicurean Group at Booth.
Stanley: Hello everyone! My name is Stanley Brayboy and I'm a second year student at Booth with concentrations in Finance, Strategic Management, and International Business. Prior to Booth, I spent 3.5 years in public accounting. I interned at the Department of the Treasury working on a special project for the Deputy Commissioner of the Internal Revenue Service.
rose64: For Dyiesha - to concentrate on the healthcare track- what courses did you focus on? Are there any courses/activites that are particularly helpful?
Dyisha: For healthcare, you should take classes based on the function that you want to work within healthcare. So, if you want healthcare marketing, take marketing classes, etc. For a general overview of the industry, there are classes at Booth (management labs), SSA, and Harris Policy schools that you can take as electives. Hope that helps!
rose64: Regarding Healthcare- do companies come on campus for recruitment of is it mostly off-campus recruiting?
Pam: There are quite a few Healthcare companies that come on campus to recruit. It also depends on your focus within Heathcare. We tend to see many of the large Pharma companies, medical devices, and some of the health systems. There are several biotech firms that will post positions, as well as some fellowships within Heathcare Administration.
Sunny: Dear all, thank you for taking some time out to answer my questions. This is a question for Jessica: Are you involved with the Media & Entertainment Group? If so, could you talk a little bit about the on-campus events that the club organizes? I know that it collaborates with 4 other leading business schools in the annual MBA Media & Entertainment Conference, but I was interested to learn about any Booth-only events (speaker series, panels, mentoring) that the club is involved in.
Jessie: Hi Sunny, I am involved with the Media & Entertainment Group (MEG). MEG organized the annual Booth MEG Conference. They also work with companies in the industry to try to find internships and jobs. They also offer career and resume help to students specifically in the industry. Tomorrow, I fly to New York for Booth's first annual NYC Media & Entertainment Trek. We are visiting six companies on Thursday (like NYTimes, MTV, Bloomberg News, etc.), and then attending the Stern/Fuqua/Columbia, etc. Media & Entertainment Conference you referenced on Friday. Should be exciting!
rose64: For Dyiesha - Did you take classes outside of Booth at other departments? Was it diffcult to coordinate them with your MBA class schedule?
Dyisha: I have not taken classes outside of Booth yet, but I plan to this year and next. There are many healthcare classes you can take at the Harris Policy School, SSA, and even the medical school. At Booth, you have the flexibility to do it and the classes are very interesting. So, it's not difficult to coordinate--you get to take 11 electives, so there's room for healthcare classes.
Nisha: Thank you for hosting this chat. How badly has the economic downturn affected on-campus recruitment in 2009 particularly in Media and Entertainment? What is the outlook for 2010, 2011?
Jessica: We saw an uptick of on-campus recruiting activity in 2009-2010 over last year, certainly - companies returning to campous, and some companies visiting us for the first time (Zynga came onto campus for the first time this year, for example). Media & Entertainment, particularly if you are talking about the major studios - has always been on more of a just-in-time hiring model, so not big on-campus recruiters (they don't have the need to forecast out that far). This year we have done some neat events and activities, though, outside of the traditional on-campus recruiting model, hosting a small group chats with representatives from Paramount and Topps, Inc. and this Friday we will be hosting an alum on campus, who is a senior VP at Warner Brothers. And of course our students planned an amazing West Quest trek in December, visiting 4 major studios - and are doing a similar trek to New York later this week. As the media/entertainment industries continue to look at MBAs for their teams, I am confident that Booth will be right in there in the mix.
Jbenven: Good morning! Thank you so much for hosting this chat. My question is for Pam: Are there opportunities for incoming Booth students to participate in an internship in the summer before entering the University of Chicago program? If not, does the Career Management Team discourage candidates to seek internships on their own for this summer? Thank you!
Pam: There are frequently students who do a pre-MBA internships. Some companies do this formally, while other students take the opportunity to find an interesting role that is additive to their professional experience or is helpful to a career changer in gaining some transitional experience. Most of these internships are sought out by the students proactively - our resources really don't begin until you join us on campus. As an admit, you can access some of our online resources and have a discussion with one of our coaches.
Sunny: Dyisha and Jessica, I see that you are both concentrating in Marketing. What's your favorite class and why?
Jessie: Hi Sunny again. My favorite Marketing class so far has been Data-Driven Marketing with Gunter Hitsch. I think it's particularly valuable for Brand Managers who will face these types of discounting decisions every day. My favorite Booth class so far has been New Venture Strategy with James Schrager. He teaches you real world application, mainly applicable to start-ups, but also applicable to new ideas, too.
Sunny: Hi Eddie. With regards to admission, how is interview feedback reviewed? If a candidate interviews sooner in the interview cycle is his/her complete file reviewed on a rolling basis? Thanks.
Eddie: No, after the interview is conducted all decisions are released on the decision date that's posted on our website for your round.
RyanLetcher: Thanks all for taking time to answer our questions. Dyisha, which GPHAP electives, if any, have you taken to support your Marketing concentration?
Dyisha: Hi Ryan! For GPHAP--in order to receive the Certificate in Health Policy and Administration--you have to complete four classes. Two classes are predetermined--they cover healthcare systems, etc. Then, you can choose 2 additional classes from the wide array of electives--at Booth (healthcare management labs); Harris Policy School; Law School; SSA (social work); or even sometimes the medical school.
Dyisha: I haven't taken my electives yet, but there are some interesting classes on pricing models and cost effectiveness that will help support you in a marketing role (and ones that I will probably take). Hope that helps!
Nisha: What resources can students use to find internship and post-MBA positions in Asia and Europe?
Jessica: Booth has a strong brand in both regions - with a campus in London and Singapore. Specifically, we have employer development team members on the ground in London and Hong Kong dedicated to establishing relationships with employers and uncovering job opportunities. So our job board that is available to students and alumni is the manifestation of that work on your behalf - and a great resource to find jobs (and we make our company contacts viewable in our jobs database as well, so students are encouraged to reach out directly to firms for their own search). In addition, our career resource center (CRC) colleagues can absolutely help you find the resources that would support your specific search. They run a great "Keys to Research" program each fall to help students sift through the myriad databases, periodicals, etc that we have to select and leverage just those resources that pertain to your search. For example, a tool like "Going Global" may be of interest, or narrowing your target list via "Capital IQ" may be what you seek. And sign on for treks - or to lead a trek - to the region! It's a great leadership opportunity that gives you direct access to firms.
CelticsFan: Thanks Dyisha...for management consulting positions, do firms allow one to designate a specific focus (ie, "healthcare) or is recruiting mostly for generalist positions?
Pam: The firms vary on their models - some prefer that you lean towards being a generalist, others do look at your area of interest (industry or function). Your research will allow you to get to know the firms and what their model is. Also, some firms have strengths in industries, so, you can also prioritize those that have a focus on healthcare.
FAlonso: Hi, thank you all for your time. Is a summer internship in consulting essential or highly recommendable to secure a consulting position after graduation?
Jessica: It's not a necessity, certainly, but a summer internship in consulting is certainly helpful to leverage for your full-time search. And it's also being able to articulate how your summer search and experience is valuable for the full-time consulting role (and we'll help you craft that story along the way!). You could also use your first year to network with those firms, get to know them, and leverage those connections for your second-year search. So not an essential for your full-time search, per se, but there certainly are activities you could do in your first year to help put you in good stead for your second year consulting search.
saboogaurav: I am looking forward to Family Business so want to understand what a good mix of courses would be for the family business
Kathrin: For most people, going into Family Business means to assume a general management role. If that's the case for you, a broad range of classes, as you need them for the General Management concentration, would probably be most useful. Some classes I'd recommend are Taking Charge, Financial Accounting (very important for having a good grip on your business), Marketing Strategy, Consumer Behaviour, and any Leadership/Behavioural class like Managing in Organizations and Negotiations. Additionally, the Family Business Student Group organizes Lunch&Learns with professors and managers, as well as student run workshops to cover more specific topics around Family Business (e.g. succession planning)
rose64: Dyisha - what are some of the activities of the Healthcare Group that you mentioned?
Dyisha: The Healthcare Group puts on a large conference in the fall. The group brings in many speakers from various companies to talk about current healthcare issues. This past year, healthcare technology was a huge discussion. Also, the conference is a great opportunity to network with healthcare companies--pharmaceutical companies, consulting firms, IT firms, etc, and start making connections for summer or full-time opportunities.
Dyisha: Next, the group puts on many lunch and learns with healthcare companies. For example, Abbott came on campus and talked about the industry and did a "mini" marketing case discussion. So, many of those types of opportunities happen a lot.
Dyisha: Last, being a member allows you to receive emails about any "healthcare" opportunities that come on campus--from case competitions, to summer internships or interesting articles, the group sends that information to you as well.
mba_mba: Do you have any specific tips or experiences of students who may have worked in finance/investment banking arena, and are now seeking to switch paces and consider a different career path. Can you give any color on that sort of situation, and experiences?
Pam: A large number of Chicago Booth student enter intending to switch careers. We spend a good bit of time in our career management programming supporting you here. The tips: Thoroughly evaluate your skills/abilities/capabilities from your prior experience, learn about the career you are interested in pursuing and how to translate your experience, and determine how to best position yourself to get there. You should also engage the Booth student community - we are oriented to help share the experiences of others - your fellow classmates (second years who did this for their internship) and alumni. Many students make this transition - we do recognize it is harder in a tight economy, but, your research, preparation, and creativity go a long way.
Vivek: I am Interested in the General Management Program but also want to specialize in Economics. Do you have such options?
Camilo: Hi Vivek, due to the flexibility of the program you are allowed to focus on as many (or as few) concentrations that you want. I can say that while initially I focused on my finance concentration, later I had the chance to focus on accounting and entrepreneurship. The availability of classes and depth of the program will allow you to tailor your program to your needs and interest. Additionally, you have the chance not to concentrate in anything as well.
rose64: What sort of companies/organizations typically recruit MBA graduates who want to pursue a career in the healthcare field?
Jessica: Healthcare is such a BIG umbrella of firms - from small start-up biotech firms where MBAs are charged with wearing multiple hats (a bit of business development, perhaps a bit of marketing - and some financial analysis weaved in there, for example), to large pharmaceutical organizations that offer really established training or rotational associate programs. The latter group of organizations are typically who you will see recruiting earlier in the season, while the start-up or "smaller" firms are normally a bit more just-in-time, and will often go with students who network into their firm (because they were seeking that smaller firm or start-up environment...or they simply decide to look for talent later in the year via job postings vs. a full on-campus recruiting program. Bottom line: the healthcare industry seeks MBA talent, and the responsibility does rely a bit on the candidate to narrow down what type of role or environment he/she wants!
Jason: Thanks for taking our questions. For students involved in entrepreneurship and venture capital, what is the on-campus recruiting like for this year given the current economic downturn?
Pam: The state of the economy does not have a significant impact for our on-campus recruiting for start-ups and venture capital. Largely, these firms always "recruit" off-campus. But, Chicago Booth's Polsky Center has a number of programs and opportunities for students pursuing these career areas - which faciliate interactions with start-ups and VCs. This, along with the greater Chicago Booth community creates many opportunities for pursuing internship and full-time opportunities - these firms just typically don't have a business model that supports coming to campus to interview large numbers of students.
Gustavo_Campos: Hello all, thanks for this chat! Kathrin, as co-founder of the Family Business Group, can you share some insights on the Group's routine, on how members contribute, etc.? Thanks!
Kathrin: Hi Gustavo, as our group is small compared to other student groups at Booth, our members all contribute very strongly to the club. We have a student run workshop once a month, where 5-10 Family Business Group members meet for 1.5 hours, and one or two group members present a case around Family Business, either from their own family business or a general case, which we then discuss. That way, we cover special topics like succession planning, communication in the family or conflict management, which are not covered in that level of detail in regular Booth classes. Additionally, we have more traditional events like Lunch&Learns with academics and family business managers, which the co-chairs organize and the members attend. But also these are very informal and small (20-30 people), and give ample opportunity to ask questions and discuss. The Family Business Group is a relatively new group and is very dynamic, so we are hoping to continue our strong momentum and add new formats.
Michel: Thanks again everyone for answering questions this morning. This question is for Dyisha: Regarding the classes you have taken in the GPHAP program so far, is there a global component to these courses or is the focus strictly on the US health care system?
Dyisha: Hi Michel! There are classes on the global healthcare system. I have not taken any yet.
Dyisha: But, I did attend a lunch time talk on global healthcare issues and strategies. It was sponsored through the Medical School, but we were invited to attend, and I learned a lot about the intersection of health initiatives, ethics, and resource allocation.
Dyisha: So, also know that you have access to global healthcare conversations and seminars all around the University of Chicago, while at Booth.
Moderator: We're halfway through the chat and we've had lots of great questions so far. Continue submitting those questions!
cb: I appologize if this question has already been covered. But other than the Flexibilty what other _unique_ things Booth offer over other competitive B-Schools
Kathrin: For me, one of the most exciting things about Booth is the academic level of the classes and the quality of the faculty. In every field, you have world leading professors teaching your classes, and that brings the cutting edge of research into the classroom. Students take their learning experiences very seriously and most people really care about classes. Both within the classroom and outside, there is a fascinating level of mutual support, which was very evident during the harder job search times last year. Everyone was very supportive of each other, passing on job leads and encouraging one another. And the flexibility you mentioned is really a very strong asset, too, and helps a lot to enjoy the classroom experience, as you are never forced into any class.
NightJar: For PAM : Does visa/work-permit requirements limits a candidates job or internship oppourtunities? Are companies hiring international students?
Pam: Visa/work authorization is a consideration for international students - and we have found that US firms have moved to require this during the tightening of the economy and because of specific issues like TARP in the financial services sector. So, this is a pendullum right now. And, yes, companies are hiring international students. Each company is asked to provide work authorization requirements in their job description so you are well informed.
Jimaras: a general question; Is there someone that is specifically helping international students with visa issues? It is said that getting a visa is quite hard. Also, is it true that the company in which a student is going to do his/her summer internship will most probably be his post MBA recruiter?
Eddie: Actually we do a pretty good job of getting your paperwork (I-20) back to you. As long as all the documents are in order, photo page from passport, financial documents, etc., we send them out for processing and the turnaround time is about 7-10 days, if not sooner. The bottleneck is usually at the embassy and trying to schedule your appointment. The answer to the 2nd part of your question is "no".
BrianHull: Thank you for your time this morning. Can you talk a little bit about the support available to students seeking jobs in niche markets that don’t recruit on campus? And perhaps about your experience if any students here have done this?
Jessica: Tons of students have pursued - and landed! - roles in niche industries via off-campus opportunities! And just because a firm does not participate in a formal on-campus company event or interviews, certainly does not mean that Booth students don't have access to them from Chicago. We facilitate a nunber of small group chats and panel events to not only give students exposure to the industries, but give them an opportunity to meet and have a dialogue with professionals, and then follow up. This year for example, we hosted a call with a senior human resources professional at LVMH, from which students continued the conversation "off-line" and this weekend, my colleague Matt Reischauer is hosting a panel discussion on MBAs in government/public service, with a similar chat for media & entertainment happening next weekend. And activities like student treks, conferences and programming through student groups has sparked many conversations that can eventually move to an internship or full-time discussion. But yes, many students go into niche industries and roles. Last summer we had students land roles in energy trading, a role in strategy and business development for an online company in Chile, an internship with Paramount Pictures...really cool opportunities that the students landed outside of what may be thought of as the traditional on-campus process.
Luke: Hi Camilo. I have a similar background in Commercial Construction Project Management and Civil Engineering. I am looking to transition into either RE Development or RE Investment Banking. What concentrations/classes would you recommend? Thanks!
Camilo: Hi Luke, while the real estate curriculum offered at Booth is not very extensive, the classes offered will allow you to learn the required skills to tap in either RE Investment Banking or Development. I have had the chance to take RE Investments I and II, and be part of the team for the RE Lab. In these classes I was able to round out my RE knowledge and develop significant skill to have a successful internship and secure a job after school. As far as concentrations, at this point I would not worry about them too much as you will have the chance to tailor your program according to your interest.
Tarun: Kathrin: with respect to general management is there a recommended set of classes / electives to follow that track?
Kathrin: Hi Tarun, there is a General Management concentration, which requires you to take one course in every one of the functions (e.g. Marketing, Finance, Operations). You can find more detailed information here: http://www.chicagobooth.edu/fulltime/academics/curriculum/concentrations/index.aspx
Kathrin: The general management concentration is the broadest of the concentrations, and is a very good preparation for taking on a management role in a smaller business with responsibility for every field. It also prepares you well for a general management rotational program. It focuses both on giving you skills in every function, but then requires you to take electives in leadership/behavioral topics, which will help you assume leadership roles.
G-352375143_1: Hi , I would like to know in which ways career services can help students to get an internship on a non-profit company. Thanks in advance.
Pam: A couple points. An overarching message, at Chicago Booth - our students own their job search. We provide you the resources, training, and guidance to support your search. Those resources: Research tools to identify non-profits of interest, a community directory of alumni to reach out to, a focused career management program to give dedicated attention to navigating a non-profit job search, 1-1 coaching (all students get this!), and employer development where we are reaching out to organizations of interest. Another key area of support are our student groups - Net Impact and Chicago Global Citizens are two examples. This groups do pro bono projects and host/attend conferences to help create connections with professionals/organizations of interest.
Sunny: Hi Jessica! Would you be able to talk about how the University forges ties with the local media industry firms in Chicago?
Jessica: Hi Sunny! From a Booth careers perspective, we often tap into local media firms for educational panels...and of course to make sure that when they seek business talent, they look at Booth. My colleague Allison has been cultivating a relationship with Harpo, for example, and we have hosted alums from the Tribune Company on campus for various educational panels and speaking opportunities. And while perhaps not the traditional definition of media, we also are making strides in connecting with local sports franchises. The Chicago Cubs has posted a few positions with us in the last year, including an internship opportunity last year!
Camila: Camilo - if students are allowed to focus on as many (or as few) concentrations, are they still required to declare a concentration early on?
Camilo: There is no need to declare a concentration during the MBA program and concentrations are not a requirement for graduation. As I mentioned above, due to the flexibility of our curriculum you can tailor your program to your interest and you have the chance to modify it as you move forward in the program.
karthic: Hi, can you talk about the opportunities for students intending to work in Asia? (if you could talk about the breadth and depth of options) Does the Singapore campus play a part in the process?
Pam: There are numerous firms who come to campus to recruit for roles in Asia, across most careers (investment banking, invest. management, consulting, corporate roles across diverse industries). Also, many students pursue opportunities generated through their own networking, treks (student visits to companies after fall quarter finals), and job postings. Our employer development efforts are conducted in Asia and we have a team member based in Hong Kong to focus on this. Our team works with the Singapore campus to support overall brand building for Booth in Asia.
Jayme: Are there any clubs, organizations, or courses that allow you to experirence working as a board member for a local non-profit?
Kathrin: Hi Jayme, Net Impact offers the Board Fellow program every Winter quarter, where you work on a project for a local non-profit. I did that program last year, and it was a great experience. My organization was the Joffrey Ballet in Chicago, my classmates worked with Microfinance organisations, kids' programs (soccer trainings), homeless programs and helping teenagers that are in prison. For the Joffrey, I worked very closely with one Board member, who is a Booth alumn and was my mentor in the Board Fellow program, as well as with the management of the Joffrey. I attended 4 of their board meetings, where I learned a lot about the work of a non-profit and about the cultural landscape of Chicago. My project task was to draft a charter for their compensation committee, for which I interviewed 5 board members and the management team. I'd absolutely recommend the Board Fellow program, it was one of my most outstanding experiences at Booth.
Moderator: The chat will be closing in 15 minutes. Please continue to submit your final questions! Please note, as we often get repeats of questions, we will try to address the general topic (if not your specific question).
Rohit: Hi! My question is for Mr Zuylen: What is the nature of employment opportunities available in the renewable Energy sector for an MBA?
John-Frédérick: Opportunities in the renewable energy (RE) sector are of very different nature.
John-Frédérick: Some roles are business development related, some are finance related.
John-Frédérick: Most of the time, RE companies are new and fast-growing ventures, so one should expect not to have a very clearly defined job description.
John-Frédérick: However, we start seeing some consolidation in the market and more structured companies start appearing. In these cases, companies will be looking for project managers and people who can bring structure in the company's activities.
Rohit: Another question for Mr Zuylen: What courses would you specifically recommend for someone interested in a career in the Energy sector?
John-Frédérick: One class is taught at Booth: Innovation in the energy industry and opportunities in RE. This is a great class and definitely a must-take.
John-Frédérick: At Booth, you can also take classes outside of the business school. This is very useful because there are other very interesting energy classes at university level.
John-Frédérick: I recommend you to check out www.boothenergy.org/energy-uc to find a complete list of the current offering
Tarun: Q for Adam Cox – Adam what are the opportunities you see in the education sector and why have you picked it given a diverse entrepreneurial background? What at Booth has added most value to you for this career path (courses, internships, specific faculty). I’ll be in a similar situation so high level of detail is very good and much appreciated.
Adam: I think there is a tremendous amount of momentum in education right now both within Booth and more generally. There are opportunities ranging from government to non-profits to entrepreneurial start-ups. There are a lot of opportunities at Booth for getting involved with education, but so far some of my best experiences have mostly been outside of the classroom. This year, the Polsky Center hosted an education conference which provided an opportunity to meet dozens of leaders in the education sector. The Net Impact group also has a strong education focus; they sponsor education-oriented consulting projects and guest speakers. There are also opportunities to get involved in case competitions - last weekend I was in Berkeley participating in an education case competition with three other Booth students, for example. As far as classes, Linda Darragh's class on Social Entrepreneurship is supposed to be great, but I won't take it until next quarter.
FAlonso: John-Frédérick: What specific opportunities (courses, conferences, other activities) does Booth provide for someone interested in consulting or investment banking focused on the energy sector and infrastructure?
John-Frédérick: Except for specific job offers that come from Career Services, most of the activities around energy are taken care of by the Energy group.
John-Frédérick: Throughout the year the Energy group organizes many events such as Lunch-and-Learns, the Renewable Energy Conference, field trips to plants, Energy 101 sessions and sponsored corporate projects.
John-Frédérick: We cover all fields of interest, so I'm sure you will find what you are looking for on the consulting and IB side.
John-Frédérick: One activity that will be of specific interest to you will be the Houston Trek, where you will get the opportunity to network with the major IBs.
Melody: Hello Everyone and thank you I would like to know are there any efforts/support for students that want to go into the non-for profit sector? Are there options to do paid summer internships?
Adam: There are absolutely a number of opportunities for people interested in the non-profit sector. Our career services hosts a number of career panels and information sessions throughout the year to support job seekers, and there are also student groups such as Net Impact which are oriented towards helping students find careers in non-profit fields. Most of these internship opportunities are paid, although typically they are not paid quite as much as many for-profit alternatives.
Tarun: Q for Stanley Brayboy – Stanley you’ve worked with the private sector and interned with the govt. That is very interesting. Do you see a potential career out of Booth with the government immediately? If so in what capacity and how do you think Booth helps in opening the doors /preparing you for the same?
Stanley: My long-term goal is work in Government. I accepted a full-time position in a finance rotation program, however, the same skill set applies for both public and private sector work. I sourced my summer offer through a Booth Alum. The Government really values the MBA skill set and there are many programs available to grad students who wish to pursue a career in government.
Steve: Hi there, thanks for taking the time to chat with us. For a Booth student, is there a formal process for pursuing a career in government? Do representatives from government agencies use a process similar to the investment banks and consulting firms?
Stanley: Hi Steve. I learned about my summer internship opportunity via our Career Services Center. As far as I know, there was/is not a formal process like IB and Consulting.
Carlos: Stanley that is very interesting, I am Carlos, I am currently in the process of applying for an MBA. I am from Venezuela and currently i am working in Stategic Planning for a hi-tech firm in Caracas. Stanley, did you have prior experience in the field of Strategic Planning before you enrolled at Booth and if so, how do you feel your academic experience complements your work experience in Strategic Planning?
Stanley: Hi Carlos. I didn't have any prior experience in Strategic Planning, per se, although I did some strategy work in my pre-MBA career. With that said, I'm currently taking Strategic Planning with Marc Knez and the class is GREAT!
BWill: John-Frederic, what does the Energy Group focus on? Start-up E&P, trading, etc? What types of courses center around energy and how have they enhanced your plans for your career in the energy space?
John-Frédérick: The Energy Group is "technology-agnostic".
John-Frédérick: We insist on this aspect as it is the role of the EG to provide support to our members whatever their interests are.
John-Frédérick: We are 7 co-chairs and represent all aspects of the industry from investment banking (IB) to start-ups, from oil and gas (O&G) upstream to power generation, from roles in consulting to entrepreneurship.
John-Frédérick: As for the classes, go to http://www.boothenergy.org/energy-uc to find a complete list.
John-Frédérick: I personally also took the New Venture Lab class because it focused on a project for a photovoltaics (PV) company.
John-Frédérick: Generally speaking, it is my involvement with the EG and the wide offering of activities that has enhanced my profile within the energy industry.
Nikhil: For John - How is the recruiting scene in the Oil & Gas sector, specifically in the corporate strategy and planning groups? What kind of jobs are becoming avaliable MBA graduates within the broad energy sector (excluding energy sector consulting)?
John-Frédérick: Oil and Gas (O&G) is doing very well.
John-Frédérick: While there is a strong public focus on renewable energy, the O&G industry remains a very solid source of employment.
John-Frédérick: We have strong relations with the majors and have a wide alumni base within O&G.
John-Frédérick: Most of the job openings here are focused on Corporate Strategy, Corporate Finance and Treasury.
saboogaurav: I have been actively involved with NGO's previously and would like to continue my association with them while at college. What are the clubs that focus on community service
Adam: There are lots of opportunities to be involved with community service at Booth. One organization which focuses specifically on community service is Giving Something Back. But there are lots of others that involve elements of community service, such as Net Impact or Chicago Global Citizens. Personally, I am primarily involved with Net Impact, which has allowed me to take on a couple of pro bono consulting projects with local organizations (a non-profit vocational organization and also Chicago Public Schools).
MKim: Hi Adam, I am also a joint program candidate and was curious to hear your initial feedback/experiences regarding MBA recruitment for MBA/MPP students?
Adam: I have spent my entire first year at Booth, so for me I feel like my recruiting process has been the exact same as any other Booth student, with the exception of the fact that I am recruiting for a more public-sector focused internship in education. If anything, the MPP has added a lot of credibility to my commitment to pursue education as a career. On the few occasions when I have spoken with recruiters for more traditionalfor-profit roles, though, the MPP degree has never come up.
Tarun: Adam / John - what are the classes you have enjoyed the most in your year? Entreprenuership / finance interest me. thank you
John-Frédérick: Coming to Booth I wanted to further build a generalist profile in order to enter the general management track.
John-Frédérick: So I took classes in many different concentrations. This includes entrepreneurship (New Venture Lab and the New Venture Challenge), finance (Corporate Finance, Investments, Structured Finance), Managerial & Organizational Behavior - MOB (Negotiations, Business Policy, Leading in Small groups and Committees) to cite only a few.
John-Frédérick: Generally speaking, since Booth has a very flexible curriculum, you will get the opportunity to tailor the academic program that suits your desires and expectations the best.
CelticsFan: Hi Dyisha - I have a healthcare consulting background and am considering a post-MBA career in corporate strategy...could you talk a bit about how Booth's healthcare program/resources compare to other programs that have a specific healthcare "major"?
Dyisha: I'm not sure how a healthcare "major" is determined at other schools nor can I make the comparison to what other schools have to offer.
Dyisha: At Booth, you'll find that there are many ways to be exposed to healthcare. You can take classes, such as a healthcare management lab, which gives you direct contact with the corporate sponsor, as you are the "consulting" group for them on a real project. That may be of interest to you, based on what you want to do post-MBA. This year, they also offered an Economics Policy class, which featured a week on Healthcare policy. Also, there are numerous healthcare classes at the Law School, Harris Policy School, Social Work school, and sometimes even the Medical School that will aid your learning. There are also many opportunities to chat with faculty who have healthcare research/work--they are extremely accessible.There are also resources that come through the Healthcare group--opportunities to be involved in local healthcare initiatives (even outside of the University), etc. There are a wealth of resources across the campus and through the faculty, but I can't answer whether or not it's more or less than other Universities.
Vidya: Hello Everyone, Thank you for hosting this chat. My question is to Adam, I read from your bio that you are concentrating in Organizational Behavior : How does experiential learning work in organizational behaviour courses? Can you give an example as well? Thanks.
Adam: Experiental learning is absolutely a cornerstone of the organizational behavior courses. I am not sure I could adequately explain a specific example in this context, plus it would take away some of the fun for you once you took the class. But suffice it to say that on my first day of managing organizations I learned that I am highly susceptible to social influences and that I can not complete basic tasks such as counting as well as I thought I could.
JCC: Hi and thanks in advance for taking my question. For what kind of position(s) do Energy companies that come to campus recruit? Thanks !
Jessica: A number of our on-campus opportunties in energy are in leadership development or rotational programs, sometimes sticking within one function (i.e., finance or marketing) or giving students an opportunity to move amongst a few desks within the first year or two years. I would always encourage students to look at job postings for energy roles as well, for example, we currently have an associate role for an energy trading firm in Asia seeking summer intern talent, and an intern with a renewable energy firm in the midwest.
SAURABH-RUSTAGI: For Adam - Could you please highlight the salient features of the joint MBA/ MPP program?
Adam: The highlights are that it turns two two-year programs into a three year program. Joint MBA/MPP students typically spend one year in residence at one program followed by a year in residence at the other and in the third year alternate courses between the two programs. Beyond a few core courses which can count for credit in both schools, there is not a high level of overlap between the two programs. In my opinion, they each serve a specific, but distinct, purpose. Both the Booth and Harris websites have a page specifically for students consiering joint degrees, so that would be a helpful starting point if you want more information.
WillS: Hello all, my question is for John-Frederick. What are some of the energy related courses did you take? What are soe of the courses that I could take to help my company start up an LNG trading business?
John-Frédérick: Hi Will, you may find the list of available classes at http://www.boothenergy.org/energy-uc
John-Frédérick: I'm not a trading expert so it is harder for me to correctly address your question, but I am sure this topic is covered by some classes at Booth (probably focused on trading in general). I recommend you to check out the portal or directly ask Admissions to put you in touch with someone with that professional focus.
John-Frédérick: The EG however does sponsor 2 of the most famous case competitions on energy (taking place in Austin and New Orleans). Trading is an important part of the competitions and I am convinced you will be able to learn a lot from these extra-curricular activities as well.
Gustavo_Campos: Thanks Kathrin! One for John: Can you talk a little bit about the Renewable Energy Trek you launched recently? Thanks!
John-Frédérick: We launched the first Energy Trek in December 2008. Back then, we focused on RE and policy, so we visited companies and industry associations in Washington DC and NY.
John-Frédérick: This year, we doubled the offering by first going to Houston during the Fall, and to the East Coast during Spring Break. Next year we will probably add a third trip to the West Coast.
John-Frédérick: The content of the Treks depend on the interest of the students: before contacting companies, we first survey the members to find out which part of the energy industry is of interest to them. Once we have the results, we use our broad contact database to work on the meeting schedules. So far we have visited all kinds of companies, ranging from a pure O&G upstream player in Houston, to a tidal energy co-op in New York.
John-Frédérick: As I already mentioned: the job of the EG is to provide our members with the contacts THEY are looking for.
chubert: I'm curious to know if there are any "I wish I knew that ahead of time" pieces of info any of the current students may have when it comes to securing your first-year internship. Mainly, are there any nuggets that incoming students should be aware of?
Stanley: The best advice I can give is to know yourself. School is rigorous and recruiting can be taxing. One has to balance career focus with the open-mindedness to explore new possibilities. I think one should have an of what s/he wants to do (or doesn't want to do) - it makes it a little easier to navigate the process.
rose64: Are the companies that recruit MBA talent in the healthcare field concentrated in a specific region of the US- forexample west coast or do they come from all over? Is there international representation as well?
Jessica: They are from all over...I just took a look at our job database and there are companies seeking Booth talent that are based in Chicago, certainly but a number from both US coasts, as well. We also have a company in southeast Asia seeking business development talent, for example. So all over - and our colleagues in Europe and Asia are pounding the pavement to increase our visibility in these regions.
NightJar: For Jessica : Hi. You mentioned Booth Campus in Europe - Do students have an option of attending classes on europe campus?
Jessica: Our London and Singapore campuses actually house our global Executive MBA programs, so we have app. 180 students on each campus in what we call our EXP (Europe) and AXP (Asia) programs, in addition to our Chicago-based program. So while students in the full-time program do not attend classes on the London campus, a number of students - I think somewhere around 15% - participate in our International Business Exchange Program and choose to spend a quarter in another country and on another campus. And in London, there are always panels, speakers, and events which students spending the quarter in London can attend (for example, we just hosted one of our global Chicago Conversations event in London on Risk and a number of our full-time students spending their quarter in London joined us on our London campus.
saboogaurav: I would like to know if there are overlapping courses between family business and entrepreneurship
Kathrin: Hi Gaurav, in my view a lot of the entrepreneurial classes are very relevant for family business, too, especially Building the New Venture, which deals with running a small business. Yet, as most family businesses are existing businesses, not start-ups, other classes in the general management curriculum are crucial for family business. I'd recommend Taking Charge, Marketing Strategy, Business Process Fundamentals and especially Behavioral Management and HR classes (Managing the Workplace, Managing in Organizations, Negotiations, Leadership classes). Also Financial Accounting is crucial for running your own business in my view, both for start-ups and existing businesses. In terms of concentrations, you might want to go for General Management and Entrepreneurship to prepare you best for taking on a management role in a family business. In addition, specific family business topics like succession planning are covered by the Family Business Group events.
WillS: Hi Camilo, do Booth partner with CCIM and allow its student to become Certified Commercial Investment Member?
Camilo: Hi Will, I am not aware of having an official partnership with CCIM. However we have multiple partnerships with RE groups (i.e. Chicago Real Estate Council, Realogics, PEI media, etc) for training opportunities.
Camila: Do students with under 2 years of work experience prior to beginning the Booth MBA, have a difficult time landing a job and/or internship during and after completing the MBA?
Pam: We would probably say, in general, it is more challenging to find internships and full-time opportunities with less experience that the "typical" MBA. But, it also depends on what that experience is and also, what things you did in your other academic experiences. There are many opportunities to gain additional "experience" as a student at Chicago Booth. Through class projects, student groups and other opportunities, you have a good runway to add to your experiences prior to the internship recruiting season - and, once you have that summer experience, your full-time recruiting really anchors on that.
rose64: What exactly is grade non-disclosure? Do recruiting companies place a lot of importance on the business school performance of a student?
Jessie: rose64, Grade Non-Disclosure is a student-voted-for policy that means students cannot disclose their GPAs or grades to recruiters. This allows you to play up your experiences and skills in interviews - especially during the case part of the interview (where you are presented with a case and have to solve it in front of your interviewer). It also lets you really experiment with different classes (which works well with our flexible curriculum), and you won't be punished for coming from a marketing background and trying to take high-level finance classes. Recruiters understand that Booth (as well as a few other top-level b-schools) practice GND so they know not to ask for your GPA or grades. I want to emphasize that this is a student-policy, agreed upon by the student body - not an administrative decision. Every year we can vote for whether to keep it or not, and only a few students vote to overturn it.
RyanLetcher: What are some of the first things first-years should do in order to be fully prepared for the internship recruiting season?
Pam: One thing we provide you is a checklist to work on for the summer. You take CareerLeader (which is an assessment tool for business careers) and we have you work on your resume. Other valuable preparation activities: (1) Talk to other MBAs and professionals in your career(s) of interest. Learn about these and the skills required. (2) Review the Career Services website - there is a wealth of information there and when you get to the Harper Center, time and priorities make it harder to do these things. (3) Begin to think about your prior experiences, your particular capabilities and skills - and, how will you describe them as you introduce yourself. Great preparation for your networking! Once you begin in the Fall, we take you through a series of programs - RESEARCH! is a huge component. Also, we focus on resume writing, networking, writing emails and cover letters, interviewing, and how to approach your job search and strategy. Be prepared to talk with contacts and build relationships. Those are all key things.
Victor_1: Dyisha, what at Booth have you found the most useful in helping you decide your career path in the health industry? And do you see yourself returning the pharma industry after graduation?
Dyisha: I came to Booth with the intention of returning to the healthcare industry. If you are trying to decide whether or not you want to work in healthcare, I suggest that you either: 1. join the healthcare group; 2. join GPHAP, which is a great opportunity to take health care classes and learn about the industry, even if you are new to it. For me, I am returning to healthcare, but I plan on diversifying my experience and am looking at either working for a pharmacy benefit manager or healthcare technology firm. However, there are also many opportunities in pharma as well.
Ajay: Thanks everyone for your time this morning. My questions are directed towards Mr. Varela. What resources does Booth have for those of us interested in real estate. I have a fairly deep background in real estate and would like to land a job in real estate private equity? You just mentioned that on-campus programs are helpful for real estate investment banking and development, but I already have experience in both those fields. Do Booth students regularly get internship and full-time opportunities with real estate private equity firms or is it difficult? Also, my understanding from friends in that space is that many real estate focused private equity firms are struggling with poor projects and investor withdrawals. How does recruiting look for this year for students interested in his field? Thanks, in advance, for your response.
Camilo: Hi Ajay, your question is very complex, so I am going to try to answer it the best I can. Opportunities in Real Estate Private Equity are available (on-campus and off- campus) and the resources to develop your skill specific to RE Principal Investing are available in our program. We have very strong alumni in the space, and this year the recruiting interest has gone up significantly.
WillS: Thank you John, my next question is for Jessica, how could I enlisted my company at the Booth Career Fair to recruit current students for intership at PTT (Thai National Oil Company)?
Jessica: We'd love to talk to your firm! Email me at RecruitUC@chicagoBooth.edu and we'll develop a strategy to get them connected to students...thank you, we so look forward to working with PTT!
Kathrin: Thanks everybody for your very interesting questions. I hope you gained a better understanding of how Family Business is covered at Booth, both in the curriculum and in the Family Business Group activities. We are looking forward to see you at Booth soon!
Eddie: Thanks for joining us and I hoped we provided the answers you needed.
Adam: It has been great chatting with you all this morning. I look forward to seeing you in Chicago!
Stanley: Thanks for taking the time to explore more about Booth. I wish you all the best of luck in the application process.
Dyisha: Thank you all for your questions. Good luck with the admissions process!
Pam: Thank you for your participation and all your great questions. We hope you found this discussion helpful. Best of luck as you consider pursuing your MBA at Chicago Booth.
Camilo: Thanks for joining us today. I hope we were able to address your questions.
John-Frédérick: Goodbye everyone. I hope I was able to address all your questions. If you have additional questions, please feel free to reach out to the Energy Group co-chairs at email@example.com (please do not send individual emails to all co-chairs, that doesn't help.)
Jessica: Thanks for joining us today. It's inspiring to hear of so many intern and post-MBA goals. Good luck in the process and we hope we can build relationships on your behalf soon! All the best!
Moderator: The chat has now ended. There were so many engaging questions that we're sorry we weren't able to answer them all. Have a great day!