The MBA networking is one of the most important aspects of your study experience. Use your network wisely and gain access to a wealth of opportunities!
Networking is making links from people we know to people they know, in an organised way, for a specific purpose. The purpose may be to make friends, to sell products and build business relationships, to find a job or to get information and share knowledge. The key to networking is that it is a mutually beneficial relationship between two or more people where everyone involved succeeds more because of the relationship than they would without the relationship. The network of an MBA student includes not only classmates, but most importantly professionals from various organizations the students meet during their internship and regular On-Job-Training for students pursuing their MBA from IPS BUSINESS SCHOOL along with the Alumni.
Networking helps some 60% graduates to find a job:
For MBA students and graduates, networking is an important job-search tool; surveys show that some 50% to 60% of MBA graduates have found a job by networking. Moreover, networking can be used to help MBA students in careers research and decision-making. A Financial Times survey conducted among more than 9,000 alumni from top MBA programmes showed that networking was the third most important reason given for studying for an MBA, after increased earnings and the education itself and before prospects for promotion and changing jobs or careers. In addition, 95% of respondents who valued networking said that it had worked.
When to start networking?
For MBA students, it is important to start networking early in the MBA course and sometimes even before that. Contacting alumni can give you a good idea of the culture of the school and an insight into the real experience of the programme. The most valuable aspect of the network is what you learn from the experience of others. Moreover, the connections that you build in your MBA class may prove priceless: several years later these people will either be running their own businesses or have high-level positions in big companies. Job networking comes at a later stage, when you can use alumni contacts to get an insight into the industry in which you want to pursue a career and prepare for networking events and interviews with recruiters.
IPS BUSINESS SCHOOL facilitates career networking to help current students gain an insight into careers through contacts with alumni. Career networks typically include Alumni in all kinds of subjects and working in a wide range of career areas PAN-India. You too can contact your Alumni by e-mail or telephone. An IPS Alumnus is always ready to help by giving information regarding the job roles and current trends in the industry, including informal meetings to talk about their work, how they started out and how their career has developed. Another possibility is so-called work shadowing, which involves spending a day or more following and observing the professional or senior as they go about their day-to-day work. Work shadowing is the best way to gain a deep understanding of the job, but only a minority of graduates are able to follow it.
How to approach contacts:
The first step to making a networking contact is usually by e-mail or LinkedIn. People are busy and it is not easy to grab the attention of someone who doesn’t know you. It is therefore important to use an effective subject line or a one-liner that includes a common point of reference to increase the chances that your e-mail/LinkedIn message will be opened or read. If you were referred by someone, you should mention the connecting person and send the e-mail to them as a copy, or you can include the name of the mutual acquaintance who gave you the contact. The e-mail/message itself should be short and to-the-point. It should include a brief description about you and your background and should explain why you are getting in touch and what you want from the addressee.
At the end of the e-mail, you should give your contact information and thank your reader for his or her time and attention.
When networking digitally, you should not ask for a job; do not attach your CV to your initial e-mail. You can describe your relevant background concisely and use a subsequent face-to-face meeting to provide your CV.
If you want to make networking more personal, you can follow the e-mail up with a telephone call. If you intend to do so, you should write in your e-mail that you would like to contact the reader by telephone in a particular time window and to follow it through. Telephone conversations should also be concise and clear, stating your specific goals and trying to get as much information as possible about your target field.
The next step in networking is arranging an information interview at a suitable location and at the addressee's convenience to get a deeper insight into your targeted career field, and to obtain his or her advice or suggestions.
Before meeting, you should do some preliminary research through careers websites and information booklets to avoid wasting their time by asking unnecessary questions. You can prepare a list of relevant questions about the company and the job in order to find out what skills you need to develop in order to be hired. The meeting should be about 15-20 minutes long and you should not ask for a job, just for information. It would be polite to send a follow-up note thanking the interviewee for their time.