Recruiters Woo MBA Students with Time-Sensitive Bonuses
Competition for top MBA talent is so keen that some companies have started to use 'time-sensitive' signing bonuses to try to win high-performing students early in their second year of classes.
The New York Times reports that companies like Mercer Management Consulting, Microsoft, and Kraft are offering the incentive bonuses, usually to students who performed well in summer internships.
Typically, the bonuses are worth their full value -- which is reported to range up to $45,000 -- only if the student accepts a job offer by a set date. The bonuses either decline in value or are withdrawn if the student misses that deadline.
Certain schools, including Harvard Business School, do not allow companies to make incentive bonuses to their students, saying that the practice puts too much pressure on students to commit to an employer too early in their final year.
The NYT notes that October has typically marked the peak of on-campus MBA recruiting activity. This year, however, a number of schools are finding that many of their students had already accepted job offers by that time. Dartmouth's Tuck School of Business, for example, says that approximately 4 out of 5 of its second-year MBA students received a job offer from their summer internship employer.
Source: "Clock Ticks, Bonus Ebbs for Recruits," by Louise Story, the New York Times, October 13, 2006.
The New York Times reports that companies like Mercer Management Consulting, Microsoft, and Kraft are offering the incentive bonuses, usually to students who performed well in summer internships.
Typically, the bonuses are worth their full value -- which is reported to range up to $45,000 -- only if the student accepts a job offer by a set date. The bonuses either decline in value or are withdrawn if the student misses that deadline.
Certain schools, including Harvard Business School, do not allow companies to make incentive bonuses to their students, saying that the practice puts too much pressure on students to commit to an employer too early in their final year.
The NYT notes that October has typically marked the peak of on-campus MBA recruiting activity. This year, however, a number of schools are finding that many of their students had already accepted job offers by that time. Dartmouth's Tuck School of Business, for example, says that approximately 4 out of 5 of its second-year MBA students received a job offer from their summer internship employer.
Source: "Clock Ticks, Bonus Ebbs for Recruits," by Louise Story, the New York Times, October 13, 2006.
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