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“The employment market is improving but the class of 2004 still approached their job search with the understanding that they have to work hard and prepare well,” says Claudia Tattanelli, CEO of Universum Communications, a Philadelphia-based global research firm that conducted the survey.
So, what do this year's class value in their career prospects? More than 40 percent of the students said that jobs where they received increasingly challenging assignments were ideal. Many expressed interest in employers with businesses in multiple industries, which suggests they hoped for the opportunity to grow and perhaps change industries within the comfort of one stable organization.
The MBAs' most preferred employer was consulting firm McKinsey & Co. Finance giants Citigroup and Goldman Sachs finished second and third choices, respectively. IBM and pharmaceutical conglomerate Johnson & Johnson pushed consulting firms Bain & Co. and Boston Consulting Group out of the top five by snatching the fourth and fifth spots.
Microsoft was the first choice employer among 2004 undergrads. The software giant beat out BMW and entertainment colossal Walt Disney for the first place, the survey reveals. Boeing was the most popular employer among participating engineering and science students, ahead of BMW and Lockheed Martin. The accounting industry also made a comeback. Universum's survey reports that business students' interest in the trade had increased. PriceWaterhouseCoopers, Deloitte, Ernst & Young and KPMG are all climbing in the rankings.
Salary expectations are up slightly among both undergraduate and MBA students. Undergrads expect to earn 45,636 on average while MBAs hopes for $82,000 per year.
In 2004, female MBAs expect to get paid about $7,000 per year less than their male counterparts, according to the survey. Men expect an average salary of $87,000 in their first year after graduation, while women only expect to get paid $80,000 yearly.During an interview, what’s the best way to reframe a question about your current/desired salary to find out what the company has budgeted for the role?
Thanks everyone! I appreciate all of your suggestions. I do tend to focus on one number versus a range, and I agree that the total benefits package is important to consider—as is life-work balance.
Typically recruiters or hiring managers ask for your salary expectations to make sure that they can afford you and that no one is wasting their time going through an interview process if it's not going to be a fit. While you should do your research, sometimes this information is either difficult to find OR the title at this particular company means something different at another company. It is perfectly acceptable to ask the range of the role. It's in the best interest of both parties that all sides feel comfortable moving forward.
While I agree it is to ensure no one is wasting there time, I think this is an outdated process. Most companies have a range in which they are willing to pay for a specified role and if they wish to ensure no one is wasting their time, they should post the range with the role. Then the candidate can decide whether or not they would like to apply and the company is already aware the candidate is comfortable with the range. This process is truly eliminating the issue mentioned.
I would take Tonya and Jess's advice first; however, I have been in several interviews where they would not proceed without me giving my range. At this point, you need to have to decide if this is the right role for you. So many organizations are still stuck in the old way of doing things and still feel you should provide your range in hopes they can find great talent for less than market rate. Do your research and know the market rate before you talk to the recruiter. If the recruiter refuses to give you the range and needs your range, the best answer I have given that doesn't lock you in to a specified salary is "While I feel it is somewhat premature to provide you my salary requirements, I have done my research on x, y, and z salary/market sites and the salary range I would expect could be between xxx-xxx. While Salary is important, there are several other areas that are also vital which include cultural fit, benefits, and perks along with additional conversations with the hiring manager that can affect this range. I would prefer to revisit this question after I have spoken with the hiring manager to better understand the role and feel this a good fit culturally. Does that work for you?" I have used this on a few occasions and when I did the recruiter was actually impressed, one was shocked that I had done so much research for our call, and another actually was so impressed that she immediately scheduled an interview with the hiring manager. Good luck and just remember, if you have a job currently - don't settle for the first offer that comes your way. Make sure it is the right role for long term growth toward your career aspirations!
Great response. I echo everything written and have used the opportunity to secure my expectations around autonomy, latitude and flexibility to deliver results as well as having a role is senior leader decisions.?
When I was asked what is my salary expecation question, I turned the table and asked what the salary range was, then I would know if it meets my expectations. The hiring manage followed up with the range and I communicated that it met my expecations.
What’s worked best for me is to automatically respond to their “what’s your range” question with “what’s the range for the role?” That has worked four times out of five for me (very small sample!). The one out of five was the recruiter needing to check and us not continuing the conversation for other reasons.
Agreed - I've