Reflect back to today’s date, one year ago. It was difficult to read an article in any magazine or hear an electronic media report that did not include a reference to Y2K.  Many of the nation’s forecasters bemoaned the potential problems that the turn of the century would bring.  Our most basic systems would go haywire:  gasoline would not flow from the pumps; ATMs would not dispense money and 12:01a.m. might find us immersed in total darkness.  Obviously the world did not encounter such demise, and life was pretty much business as usual. However, during all of the nay saying, no one ever spoke of a weaning of the growth in our economy, no one ever talked about diminished opportunity for new entrants or re-entrants to the job market.  While there were many changes being made behind the scenes in MBA programs, the prospects for new MBA’s gainful employment incessantly exploded.  Now that the first MBA class of the new millennium has graduated, there is no appreciable change in the diversity of opportunities on the horizon. MBA career options abound like rays of sun-spanning several directions, all shining brightly.

At a recent sporting event, three young upwardly mobile looking Blacks (two males and one female) were engaged in conversation regarding their post B-school accomplishments.  One young man stated he had just left his cushy corporate job to go to work for a small start-up firm (which offered stock options) and he expected the issuance of an IPO within the next six months.  The young woman said she was an e-commerce consultant for one of the largest consulting firms and had just returned from an international assignment.  The other young man asserted he was screening investors for an entrepreneurial venture.  These three were recent MBA graduates from one of the nation’s most prestigious business schools.

While the above relayed situation is a random isolated incident, it is nonetheless true, and indicative of the significant strides, and tremendous opportunities now available to many MBAs.  The nation's business schools continue to produce MBAs at an unprecedented rate and exceptional opportunities are equally diverse. In 2000 e-life, dot-com and the like, are an integral component in every living creature's existence.  Accordingly, it should come as no surprise that there is a major emphasis on any and everything technology related for emerging African- American MBAs.  While the majority of high-tech companies are neither owned nor operated by African Americans, their presence is felt and actively pursued.  Most institutions are expanding course offerings to accommodate the high demand placed on technology and related fields.  While technology may create the impetus behind what makes the world go round, other fields provide viable sources of employment as well.

Terry Patch (right), principal of Andre David & Associates, an executive search firm for experienced professionals, suggests that the preponderance of employment opportunities for African-American MBAs are within Investment Banking, I.T., packaged goods marketing and consulting fields.  Dot-coms and entrepreneurial opportunities also abound, however, “Dot-coms are more common to the majority.  African Americans take fewer risks than the majority, perhaps because of circumstances.  Entrepreneurial opportunities present more risks.” Placement directors and African-American employees, alike, echo these opinions.

Ken Keeley, placement director at Carnegie Melon in Pittsburgh, Pennsylvania, affirmed that of the 190 graduates of the Class of 2000 [33 of which include all minorities], only five opted for entrepreneurial careers.  Of these five, only one is Black Canadian; the others are of Asian and Indian descent.  All five of these graduates pursued e-commerce-related opportunities. Other popular areas for MBAs include consulting, the computer industry, high-tech electronics and all financial services. “An increasing number of students are pursuing entrepreneurial options, however, most students face $30,000-$60,000 in debt upon graduation.  Most students are forced to opt for a more secure environment,” said Keeley. The advent of more e-commerce companies provides the greatest prospects for career seeking MBAs.  “This year, we [Carnegie Melon] added additional course offerings in I.T., Strategic Management Services and e-commerce, to reflect the business world,” Keeley added. The high-tech world, with companies like Intel and HP, presently provide employment alternatives for MBAs.

Jillian Mc Adams, a 1996 MBA, has worked in the packaged goods industry in  product  management  since her graduation from the University of Minnesota. Mc Adams assesses common employment choices for graduating MBAs to include I.T., Financial Planning Services and Project Management Marketing fields.  Again, anything “E-related" is all the rage, especially with regard to information systems and building infrastructures for new and existing businesses.  While computer skills are necessary, project management skills are highly desirable.  E-business-based opportunities are booming for graduates interested in smaller companies as well.  Prospective entrepreneurs may find their forte in consulting sales, marketing, information systems, event planning or business and economic development spheres.

While Harold L. Gray Sr., director of Professional Development at Howard University, corroborates the opinions of e-commerce’s popularity and viability for career options, he also adds another dimension with the banking, energy, and insurance industries; as well as chemical companies, such as Warner Lambert.  “Banks, like Bank of America and Chase are aggressively pursuing our students.  MBAs are being targeted for leadership positions in many companies.” Gray indicated that "it is commonplace to see new MBAs hired into rotational management programs-programs designed to groom future leaders.  While all of the students at Howard University are minority, a great number are from outside of the United States.  Some of the non-traditional opportunities include students returning to their native homelands to pursue business options.  Other students have used their degrees in legal, government and national security industries."

While none of the graduates from Howard University pursued careers in the dot-com industry, Reggie Hammond, project manager with Andersen Consulting, believes “e-commerce is allowing people to become more entrepreneurial than ever before.”  In addition to e-business, strategy formulation and implementation and corporate journey navigation are the areas of business showing the most promise to new MBAs.  These competencies in consulting show growth, due in part to the new direction technology is dictating.  Aside from consulting firms, investment banks and dot-coms, which are willing to share equity with new graduates, show great promise for MBAs.

At Clark Atlanta University’s Business School, MBA students found themselves hotly pursued by a number of corporations.  The more aggressive companies included:  American Express, Merrill Lynch, S.C. Johnson, Texaco, Whirlpool, Delphi Automotive, Ford Motor Company. PNC Bank and IBM Consulting.  Strategies for recruiting all MBAs have become quite sophisticated and competitive.

The starting salaries of the Class of 2000 MBA’s are highly skewed due to the consulting and banking industries.  Certain consulting firms, Andersen in particular, determine the worth of the prospective employee by the school and its reputation; as well as the number of graduates in the desired competence.  Despite such evaluative tools, African-American MBAs are making anywhere from $40,000 to $103,000 with bonuses ranging from $7,000 to $63,000.  Howard University teaches MBAs to negotiate salaries.  Carnegie Melon’s MBA’s hiring packages will often include end-of-year performance bonuses, in addition to the standard stock options and relocation packages.

A great percentage of MBAs are actively being sought after by companies like IBM, Hewlett Packard, Chase Manhattan, Bank of America, Diamond Tech Partners, Intel, PricewaterhouseCoopers, PRT Mutual and the like.  While schools like Carnegie Melon may have a small number of African-American MBAs, they typically get more offers than their counterparts, in accordance with the company’s hiring goals. Although there are several options for African Americans, e-commerce is obviously a great start. The field is relatively new and the opportunities are plentiful.  Should one choose a start-up, big corporation or their own venture, the tech world promises a return large enough to pay off those student loans in less time it took to accumulate them.  Todd Reale, director of the MBA Program at Vanderbilt University, perhaps summarizes the worth of an MBA experience best: “No matter what the current trend, the value of an MBA education remains unscathed.”

Brent E. Johnson is the assistant dean and director of the MBA program, School of Business Administration, Clark Atlanta University. 

Anita Muhammad is an MBA Class of 2000 graduate from Clark Atlanta University.