Universities started to offer coaching to alumni who intend to change their careers or need help with their job.
Very often, people view business education as a sure way to climb up the career ladder and earn much more than average. Still, many business school graduates need help and support from their alma maters to ensure a steady career climb.
Chicago Booth Stands with Alumni
Stacey Kole, who works at Chicago Booth, remembers how 24 of their graduates intending to work at Lehman Brothers turned out to be unemployed over the course of one day. Stacey went to New York immediately with her colleague and met with the alumni. She had to pull favors from the more lucky graduates and even from former students who graduated from the university some years ago. Her plea helped: some hapless MBAs were given jobs at other banks, others found work at startup companies.
Since that time, the university always follows the news of problems in the job market and offer help to graduates who might be affected. Other times, alumni ask for help when they need career advice or recommendations.
Some b-schools are often approached by their graduates who lost their jobs not immediately after graduation. Career coaching is offered to alumni throughout their lives. A special team at the university looks through job offers at global companies and helps the former students to contact prospective employers.
Courses for Unemployed Business Graduates
Overseas, the IE school (Madrid) also started a program to help alumni who were made redundant or lost their jobs due to company mergers. A special course was designed to help these people find new jobs. Otherwise, it would be very difficult for them, considering that some had pretty lucrative careers before something went wrong.
The course helps the graduates to achieve a positive mindset, become more self-confident and talks them through interviews. Alumni who were successful in changing careers and picking themselves up after losing everything are often invited to talk with graduates in similar situations, as are headhunters, recruiters and negotiation experts.
According to coaches who help unemployed MBAs, the hardest thing is to find a job that is virtually the same as the old one. Hence, people who found themselves suddenly unemployed have to be very flexible. It’s not enough to have just one or two possible options – as many as you can get is what you need.
The crucial thing for derailed MBAs is, of course, networking. The more people you know, the more options you can find. Also, if you know people in different businesses, they can give you inside information about your potential employers and even talk to their bosses if new hires are needed in the team.
Learn more about the most popular business schools on MBA25 event in Baku!