You’ve graduated and then?

Students who graduate 2017 have to start thinking about their career choices after an MBA. Many have specific goals and a clear pathway ahead, but others are open to whatever comes their way. To make their choices easier, MBA Channel has assembled some out-of-the-box-options that might give you some fresh ideas.

You’ve met with recruiters from tech firms? You’ve explored consulting and finance? You’ve looked into marketing, logistics, health management and human resources? It’s a given that big corporations are a drawcard. They offer more security, higher salaries and benefits and first and foremost a well-known brand that will help catapult your CV to new heights.

However, sometimes it is also worthwhile to stop and rethink a decision or offer. Money is not everything and taking a position in a startup might have unexpected benefits particularly at the beginning of a career.

The advantages working for a startup

Often more flexibility
Often more responsibility
More autonomy
More ground-breaking and formative work
More influence
Often more fulfilment
Chance to develop strategy, purpose and products and therefore more quick learning in a wider area

Let’s not forget the downsides

Less security
Less chances to learn from more experienced supervisors
Probably less salary and benefits
Less impressive CV filler

Another out-of-the box option is working for a charity. There is certainly more honour than money in this option but it will add considerable weight to a CV having volunteered or shown social commitment in today’s society. When a charity appoints an MBA, they are generally looking for a multiple talent covering accounting, economic and strategic planning and marketing in one. Similar to working for a startup, there is plenty of fulfilment, responsibility and autonomy on this sector.

Another option which is still rarely pursued is founding a business. The percentage of graduates who form their own startup after graduation is still very small. Looking at current reports from some renowned Northern American schools it is less than five per cent of each school’s graduates. Chicago Booth said that three per cent of its MBA graduates formed startups this year, Ross reported only one per cent and Kellogg two per cent.

However, these options are only meant as options as not everyone is made for a startup, a charity or entrepreneurship. According to Harvard Professor Thomas Eisenmann, graduates need to take a good look at themselves before choosing the startup career option. Eisenmann once wrote on networking platform LinkedIn that candidates suitable for startups needed to bring the following qualities with them:

Tolerance for ambiguity and for lack of structure, in particular, around roles and career paths. The founder of an early-stage startup may need to tell a candidate, “You could be in this role for two weeks or two years. We just can’t say.” Employees must be flexible and be willing to pitch in to do whatever needs to be done.
Independence and a “can do/will do” attitude. Early-stage startups often lack processes and routines. In contrast to business-as-usual in big corporations, nothing happens in startups unless someone makes it happen. A founder needs to surround herself with team members who can identify problems and take charge of fixing them, without requiring lots of direction.
Resilience and passion. Startups encounter inevitable bumps as they try to build something new in the face of severe resource constraints. Rolling with the punches is easier for employees who are passionate about a startup’s mission or about the space in which it operates.