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Research: How Important Is Previous Experience in the Job Hunt?

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Applying for that dream job despite a lack of experience? It might be easier to try for an internship first.

if you want a job as an investment banker after getting an MBA, you’re better off if you’ve already worked in investment banking. But just how important is this background? And is there any point in applying if you have, say, a consulting or even a nonprofit past?

In a recent study, Paul Oyer, an economist at Stanford Graduate School of Business, found evidence of just how much hiring companies value industry experience, and which factors make them more or less risk-averse.

Along with University of North Carolina Kenan-Flagler Business School's Camelia Kuhnen (who earned her PhD at Stanford GSB), Oyer examined how MBAs at a top business school applied for and received offers for summer internships and then full-time jobs. Their findings support the assumption that companies want to minimize risk when it comes to hiring decisions. For example, they found that a candidate with industry experience is 1.66 times more likely to land an internship than one without. For full-time job offers, the odds of securing an offer jump to 2.38 times more likely for a candidate with industry experience. On the other hand, the research also pinpoints the types of companies that are more willing to take a chance on someone with less certainty around their specific industry fit.

Oyer’s research has direct applications for anyone looking to make a career switch via an MBA program.

Read more: http://stanford.io/1PZl1mw
Watch the full interview: http://stanford.io/1LPLSAC

Publicado en: Empleo

Research: How Important Is Previous Experience in the Job Hunt?

  1. 1. JOB CANDIDATES HIRING EIRIVIS 383 TOTAL 2 1 OT} TR GOV TIRIIIPRCEIT 16 CUIISULTIIIC 34 IJORP. 17 TECH 30 IliIi‘-IIICE STATS 58 ‘PUBLIC 24 ‘ oN FORTUNE MBA 100 32 2.5 6 AVG. ANNUAL sALEs (BILLIONSI 5 5!: AVG. EMPLOYEES 1,482 TOTAL E? " H, . . . V . E ‘lLAA? AVG. AGE AVG. GPA 34.2% % ATTENDED A TOP 100 SCHOOL H E R : B/ i>s (3 E I . I (“I B S 'i”[i'; ii» »**[i 2.286 TOTAL OFFERS 68% 31% ON-CAMPUS OFF-CAMPUS RECRUITING CHANNELS (PREVIOUS EMPLOYERS: 1%) I XI)II€H IICH IVLAI IIIQS WLL I’ '. i[. :-I ‘~_ 1.676 TOTAL OFFERS 34% SUMMER INTERNSHIPS (PREVIOUS EMPLOYERS: 9*) 22% OFF-CAMPUS CHANNELS 35% ON-CAMPUS RECRUITING PERCENT OF APPLICATIONS THAT RESULT IN JOB OFFERS, BY LEVEL OF PRIOR INDUSTRY EXPERIENCE. I |7.77% -i 5.65% -' I 4539%'H‘hIT I I I I I I I I I 0 1 2 3 4 5 6 7 8 PRESHGE NON-PRESTIGIOUS firms are 3.57 times more likely to hire someone with previous industry experience. .. . ..while PRESTIGIOUS firms are only 1.74 times more likely to hire an applicant with previous industry experience. 0/ 0/ /0 /0 Summer interns who have direct industry experience have between 14% and 27% higher probability of converting their internship into a full-time job. SIZ SMALLER firms are 2.71 times more likely to hire an applicant with previous industry experience. .. . ..while LARGER firms are only 2.28 times more likely to hire an applicant with previous industry experience. CFFIFRSI,

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