Networking is increasingly being considered an essential attribute for MBAs to succeed in their chosen career. Right from the time of seeking admission to a business school to help with studies, placements and during career progression, this particular skill pays rich dividends. We examine the various facets and how to go about building a strong network that would pay dividends in the long run.
The need for networking starts right at the time of filing the applications when contacts when senior students or staff members at the various institutes would be able to provide valuable insights into the program, careers research and decision-making.
Business school consultants suggest using social media platforms like Twitter, Facebook, Linkedin and blogs to develop a network that includes students, alumni, school administrators and others. Questions regarding pros and cons of various programs, opportunities available and other such matter could be discussed in these fora.
Most of the Facebook pages and other platforms of B-Schools and alumni network offer constant updates about various programs and events. You could also develop contacts by creating your own blog or website, write articles, comment on blog posts, share articles, tweet about whatever you are passionate about. Also make it a point to express appreciation of the work of others to build a lasting rapport.
Business school consultants suggest using social media platforms like Twitter, Facebook, Linkedin and blogs to develop a network that includes students, alumni, school administrators and others.
It would also be a good idea to get away from the computer screens once in a while to participate in campus events and other gatherings where new contacts could be developed.
Keeping in touch with alumni, whom the student may meet at these events would help gain a better understanding of the course requirements. The fact that many of the alumni would be holding strategic positions in the firms that come for recruitment may also offer some leverage during final placements.
Meanwhile, a Financial Times Survey among 9000 MBA graduates revealed that 50% to 60% saying networking helped them secure the job. It was in fact cited as the third most important reason for going in for an MBA, the other two being prospects of increased earnings and the learning itself.
Business schools themselves have realised the importance of networking by including it in the course. The London-based Cass Business School became the first to appoint Julia Hobsbawm, founder of ‘knowledge networking’ business Editorial Intelligence, as Honorary Visiting Professor in Networking way back in 2011.
She is of the opinion that well-networked individuals are not only highly employable but they may soon become the most valued in the job market with employers increasingly depending on referrals and networks in the recruitment process.
Experts say, ideally, a students’ network should be a good mix of peers, mentors and people who could connect them to opportunities. Relationships have to maintained over a long period with the developing trust. It should be a mutually beneficial relationship between two or more people where everyone would be successful more because of those ties than without. Thus, fellow students, academicians and alumni should ideally form part of the network.
The students should also take full advantage of the career network service provided by most of the business schools.
Most of the time, contact is established with alumni through e-mail or telephone besides social media platforms. While some of them may even help out by allowing students to observe them at work, others may offer guidance in job interview preparations or background knowledge about the company.
Students or even prospective students should also make it a practice to attend business school events. Besides offering opportunities to get a feel of the place, the schools often recruit local alumni to attend these events to help sell their program.
It is possible to meet people already working in the sector you are aiming for and such contacts could prove to be invaluable during placements or even later in the career. Quite often, alumni networks help fresh graduates land a job. Almost 70% of students at Tuck admitted to having got their first opening through such connections.