august 2018 - university of pennsylvania · retail conference, nyc networking expo, job board,...
TRANSCRIPT
Industry Chat: RetailAugust 2018
Sugirtha Stathis, Career AdvisorJamie Hendel, Relationship ManagerMBA Career Management
Job Search Competencies
MBA Career management
2
Self-Assessment and Clarifying Goals
Process Management
Industry and Company
Research
Resume Writing
Personal Brand and Pitch
Cover Letter Writing and Email Outreach
Building a Target List
Networking
Interviewing
Offer Management
On-the-Job Success
Master the Competencies to Master Your
Job Search
Agenda
• Working with MBACM
• Retail Industry─ Sectors
─ Industry Trends
─ Roles and Internships
─ Company Relationships
• The Job Search ─ Company Outreach
─ Is Retail for you?
─ Career Pathways
─ Recruiting in Retail
• Hiring Data─ Offers, Compensation and
Sponsorship
• Retail at Wharton ─ Wharton Graduate Retail Club
─ Baker Retailing Center
• Q & A
MBA Career Management Retail Team
Career Advice
• Self-assessment & decision making
• Industry Insight
• Networking
• Resumes, Cover Letter & Interview Prep
Corporate Relationships
• Develop employer outreach strategy with RRM
Programming
• Develop programs for students interested in Retail
SUGIRTHA STATHISCAREER ADVISOR
Corporate Relationships
• Strategize best recruiting approach for variety of employers
• Co-manage employer relationships with Career Advisor
• Manage recruiting events
Student Support
• Assist students with logistics of on-campus interview process, job board postings, etc.
JAMIE HENDELRELATIONSHIP MANAGER
Collaborate with the Retail Club and Baker Retailing Center
Industry Overview
Sub-Sector Company Examples
Apparel/Footwear
Beauty
Department Stores
eCommerce
Fashion/Luxury
Food & Beverage
Big Box / Mass Merchandisers
Off-Price Retail
Other/Specialty
The Retail Industry DefinedAny store (physical or virtual) where a consumer can purchase goods
Retail Trends
Retailisn’t
dying
First Key Takeaway:
(It’s evolving.)
The Evolution of Retail
• New retail models• Online offline
• Pop-up shops
• Direct-to-consumer: rent, not buy; subscription boxes
• Hyper-personalization
• Reimagined brick & mortar• Store within a store
• Customer experience
• Smaller footprints with curated selection
• Enabling technologies• Digital influence across the customer
path-to-purchase
• Big data and customer analytics; predictive modeling, machine learning
• Augmented reality; AI; IoT
• Supply chain transformation
• Strategic partnerships, M&A• Third-party enablers - retail-centric
apps & services
• All eyes on Walmart v. Amazon
Keeping Up with Trends…
National Retail Federation (NRF) - the go-to source for retail news and industry trends; sign up for the NRF SmartBrief
RetailWire, Retail Dive, and Chain Store Age – leading sources for retail news and industry analysis
Women’s Wear Daily – fashion industry trade journal (the “bible of fashion”)
Lippincott Library’s Retail Research Guide – access reports on industry performance and outlook, major companies operating in the sector, and key statistics
Top 25 Retail Blogs
Note: Many sites offer a daily or weekly email newsletter with top industry headlines
MBA Career Management
Functions in Retail
Strategy / Business
Development
• Identify and size new business opportunities, conduct due diligence, research revenue initiatives, perform competitive analyses, etc.“Researched women’s luxury apparel markets in four European countries and built a comprehensive entry strategy proposal for highest-potential market”
“Developed strategy & framework for international M&A; identified key attributes of priority opportunities and presented findings to CFO”
Marketing (esp. Digital, Customer Acquisition/Retention)
• Wide range of roles and related responsibilities, including brand management, marketing communications, customer experience, omni-channel strategy, digital marketing, marketing analytics and more
“Developed digital growth plan for $130M men’s fragrance business, which included innovations to brand website, search and social media strategies, use of technology in stores, and strategic app partnerships”
Operations / Supply Chain
• Generate supply chain efficiencies, design fulfillment centers, enhance customer service, improve vendor lead times
“Created distribution center strategy based on analysis of warehouse efficiency, vendor locations, and shipping costs”
Functions in Retail
Finance / Strategic Planning
• Provide financial analysis, reporting and strategic planning to business leaders. Interpret trends, issues and opportunities; advise on financial implications of business decisions
“Developed 3-year strategic and financial plan for $11B North America geography”
Product Management
(eCommerce)
• Set the strategy, roadmap, technical requirements and features for a product or product line
• Lead cross-functional team (engineers, marketing, sales) responsible for designing, developing, testing and optimizing the product
“Collaborated cross-functionally with engineering, business, and sales to develop product roadmap, including defining KPIs of new ad product for firm’s mobile platform”
Merchandising / Planning
(may include buying in department stores)
• Analyze consumer trends, competitive landscape, historic sales to create compelling product assortments and optimize sales
”Mapped out assortment plan for $10M category by analyzing historical sales and assessing future product trends; cut SKUs by 20% while increasing sales by 35%”
Functions in Retail
General Management /
Leadership Development
Programs
• High-profile, “fast-track” MBA programs designed to develop future leaders of the company
• Typically offer accelerated career path, customized training, senior executive mentorship
• May rotate across business units, functions, and/or regions during LDP period, with final placement in area of interest
Company Examples – U.S. MBACM connects with retail companies in the US & across the globe
Retail Companies Across the Globe
Representative Outreach List: Summer 2018We spoke to 25+ retail firms this summer to reveal hiring needs and trends.
Key Takeaways from Summer Outreach
MBA Career Management
• Firms look for candidates with passion for retail (industry) and/or their business model (e.g. disruptive retailers)
• Attracted to Wharton talent for analytical horsepower + strategic thinking
• Growing importance of data and customer analytics; some firms have dedicated analytics teams
• Luxury and fashion brands value the candidate’s ability to understand the customer experience (and like to see store / boutique experience)
• Some firms are flexible where they will place an MBA based on the candidate’s skills/interest and where they will bring value
• MBA culture varies among firms (beware the MBA stigma!)
• Some companies are working to move to an earlier and more structured process
• Networking is essential – retail is a people / relationship-driven business
• Many firms hire on a “just in time basis”, so they are more likely to utilize the Retail Conference, NYC Networking Expo, Job Board, Spring Resume Book
The Job Search
Two Strategies = Two Skillsets
MATURE – Be ready for when an opportunity is available.
• Structure and process• “Formal” Events• Stand out from the crowd
• On-Campus interviews• Heavy fall/winter recruiting
ENTERPRISE – Be ready if an opportunity becomes available.
• Unstructured• Multiple types of events• Build and leverage your
network
• Pitch solutions and make opportunities
• Year-round recruiting
How Companies Recruit in Retail
High
Mature / Structured
LowEnterprise /
Unstructured
Level of Wharton MBA Engagement
Company Recruiting Approach
PMA Program
Retail Company Examples
Timeline
Enterprise Recruiting Period
Focu
sed
Rec
ruiti
ng P
erio
dMature
Enterprise
Aug Sept Oct Nov Dec Jan Feb Mar Apr May
Job Search Competencies• Self-Assessment and Clarifying Goals • Industry & Company Research• Building a Target List• Resume Writing• Personal Brand and Pitch• Cover Letters & Email Outreach• Networking• Interviewing• Offer Management
What Retail Recruiters Seek…
• Communication and interpersonal skills; ability to work with non-MBAs
• Leadership and cross-functional teamwork; work with all levels
• Analytics and strategic thinking; see insights from data and connect the dots
• Creativity, ability to think “out-of-the-box”
• Relevant functional expertise
SKILLS
• Many firms open to career switchers, but industry/functional experience is helpful:
• Professional services background with focus on retail (consulting, IB, PE)
• Consumer goods, eCommerce, or other B2C background
• Customer analytics, digital marketing experience
• Store-level experience
• Global exposure / language skills a plus
EXPERIENCE
• Passion for retail, the brand/customer experience, and/or firm’s business model
• Knowledgeable about the industry and have a point of view
• Adaptability; “can do” attitude; comfort with change, ambiguity and fast-paced environment
• Flexible business skills
• Relationship-driven / personable
• Demonstrate humility;willingness to learn
ATTRIBUTES
Career Switching
87%
77%
95%
83%
56%
72%
63%
55%
71%
57%
89%
68%
87%
76%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% Internship Accepted Offers – Reported “Industry Change”
Pre-MBA Experience: Retail StudentsBreakdown of pre-MBA industries and firms of Class of 2018 students who received full-time Retail roles
Consulting20%
Technology19%
Investment Management/ Hedge Funds
10%Social Impact
9%
Investment Banking
7%
Retail6%
Diversified Financial Services
6%
CPG5%
Private Equity5%
Venture Capital2%
Healthcare3%
Media & Entertainment
3%
Other5%
Is Retail for YOU?
• Specific to firm and category
• Employees are passionate about the industry / company / brand, and it shows (physical space, work attire)
• Driven by product/consumer trends, interests and needs
• Fast-paced; comfortable with ambiguity and change
• Team-oriented; relationship-driven
• Often not many MBAs; unclear / self-driven career paths for MBAs
• Salary may fall below MBA medians, but range is wide across sub-sectors
CULTURE
• Dependent, generally better than professional services
• Cyclical; often predictable seasonality (e.g. buying or strategic planning season is busier)
• Travel is role-specific (e.g. finance/corporate support vs. merchandising/product)
WORK/LIFE
Retail Case Studies
• Before Wharton: Finance and program manager at Google, investment banker at Credit Suisse
• At Wharton: Retail Club, Marketing Club, SLF, networked at Marketing Conference, Retail Conference, The Women in the World Summit
• Internship: Wayfair (Category Management)
• Advice: Take advantage of all the amazing resources at MBACM, but don't be afraid to get scrappy! I used the info sessions and coffee chats as an introduction to companies and then owned those relationships on my own - from visiting company HQs and organizing my own informational interviews to working directly with the company recruiters to chat with more employees. It really helps for understanding what the company really is like beyond just their info session!
• Before Wharton: Consulting at McKinsey; corporate strategy at PANDORA Jewelry (product line expansion, in-store experience, geographic expansion)
• At Wharton: Retail Club, Entrepreneurship Club, Baker Center events, conversations with MBACM, frequent trips to NYC for networking
• Internship: LOLA-Series B-funded feminine care start-up (Operations Strategy); own venture (Keaton is a women's workwear brand focusing on stylish basics)
• Advice: Everyone at Wharton really wants to help you, so don't be afraid to ask! I spoke with at least 50 2Y students and alumni in the course of finding my internship and starting my business. Also, don't underestimate the power of face time. NYC is a quick bus or train ride away, and I made an effort to meet folks in person for the companies that I was most excited about. Last, it's so easy to be caught up in the recruiting stress in the fall, but many retail internships don't happen until later (I got mine in late April). So don't worry too much and have fun :)
Melina Flabiano
Nancy Yan
Career Pathways
MBA Career Management
Kathy HinesWG04
Craig ElbertWG09
Mona BijoorWG05
The Northface2017-present
VF Corp2013-2017
Dell 2011-2012
Mindshare2010-2011
Nike2004-2009
Hinesight2000-2002
Bain 1997-1999
Kings Circle Cap.2017-present
JOOR 2010-2017
ANN Taylor 2007-2009
Chanel 2006
Destin. Maternity2005-2006
Elie TahariMBA Intern
Consultant1999-2003
Care/of2015-present
Bonobos2009-2015
Universal Pictures, MTV
MBA Intern
Warner Music Group
2005-2007
Lehman Bros2003-2005
Estee Lauder2015-present
E&J Gallo WineryMBA Intern
Barclays2009-2013
UBS2008-2009
Genie ZhulinWG15
Wharton MBA Alumni Survey 2017 – Industry Changes
Industry Change from 1st to 2nd Place of Employment
1st Place of Employment
2nd Place of EmploymentConsulting & Professional
Servicesn=718
Consumer Goods/Retail
n=452Financen=1773
Healthcaren=413
Manufacturingn=312
Media & Entertainment
n=192Real Estate
n=242
Social Impact/Public
Sectorn=162
Technology & Telecoms
n=752Othern=742
Consulting & Professional Servicesn=1,293
345 124 221 79 66 46 14 41 180 128
(27%) (10%) (17%) (6%) (5%) (4%) (1%) (3%) (14%) (10%)
Consumer Goods/Retailn=388
48 186 22 6 18 13 7 9 26 30
(12%) (48%) (6%) (2%) (5%) (3%) (2%) (2%) (7%) (8%)
Financen=1,913
103 52 1,318 36 45 27 42 25 106 119(5%) (3%) (69%) (2%) (2%) (1%) (2%) (1%) (6%) (6%)
Healthcaren=317
20 4 17 227 8 1 1 8 13 18(6%) (1%) (5%) (72%) (3%) (0%) (0%) (3%) (4%) (6%)
Manufacturingn=294
37 20 27 14 123 1 7 4 20 36(13%) (7%) (9%) (5%) (42%) (0%) (2%) (1%) (7%) (12%)
Media & Entertainmentn=126
9 3 11 0 1 69 1 2 14 8
(7%) (2%) (9%) (0%) (1%) (55%) (1%) (2%) (11%) (6%)Real Estaten=193
8 2 20 3 2 1 136 2 9 5(4%) (1%) (10%) (2%) (1%) (1%) (70%) (1%) (5%) (3%)
Social Impact/Public Sectorn=103
12 1 18 4 0 1 3 46 4 10
(12%) (1%) (17%) (4%) (0%) (1%) (3%) (45%) (4%) (10%)
Technology & Telecomsn=561
56 15 48 22 16 10 5 7 336 28
(10%) (3%) (9%) (4%) (3%) (2%) (1%) (1%) (60%) (5%)
Othern=656
68 33 53 18 29 12 19 12 35 341(10%) (5%) (8%) (3%) (4%) (2%) (3%) (2%) (5%) (52%)
Tips for Recruiting in RetailBe Smart
• Prepare for the dual-path nature of retail recruiting and hone your mature + enterprise job search skills
• Do your research and understand the trends and business of retail; show that you love more than just the products
Show Your Passion
• Why retail? Why company X?
• Visit stores. Talk to sales associates.
• Get involved with Retail at Wharton (or beyond)
• Network and build relationships, starting with 2Ys and alumni
• Ask great questions
Be Humble
• Show respect, but have a fresh eye; polite, but with a point of view
• No MBA entitlement; exhibit a desire and willingness to learn
Tips for Career Switchers in Retail
Seek out opportunities to increase your retail exposure and experience, and build up your resume:
• Retail Club 1Y leadership positions
• Field Application Projects (FAPs) or other student consulting project with a retailer
• Academic year internship or short-term project
• Work in retail store (part-time/temp)
• Other: Fashion blog, Etsy store, Fashion Week volunteer, etc.
Tips for International Students• Know the company’s position on visa sponsorship for specific roles
• Check CareerPath job postings, Offer Directory, visa filing history (external sites)
• Prioritize your target list and tailor your strategy accordingly
• Build your knowledge of the U.S. market, competitive and consumer trends
• Be ready to articulate how your experience and skillset translate to the company/role you are targeting
• Helpful Resources:
• MBACM International Student Meet & Greet (Tuesday, Sept 11)
• MBACM Offer Directory: Search for international students who interned in the US
• MBAPO & ISSS: Meet with advisors re. CPT/OPT work authorization
• McNulty Executive Coaching and Feedback Program (ECFP)
Retail Recruiting Timeline
Interviewing
Sept Oct Nov Dec Jan Feb March April May June
SELF- ASSESSMENT
INDUSTRY / CO. RESEARCH & JOB
SEARCH STRATEGY
RESUMEDEVELOPMENT
NETWORKING
COVER LETTER DEVELOPMENT, APPLICATIONS,
INTERVIEW PREP
INTERVIEWS
OFFER MANAGEMENT
PREPARE FOR & TRANSITION TO
INTERNSHIP
MatureEnterprise
Hiring Data
Retail Job Posting Timeframe
0
5
10
15
20
25
August September October November December January February March April May
Retail Job Postings 2017-2018
Internship Full Time
2018 Internship Offers by Sector
Big Tech35%
eCommerce18%
Food/QSR13%
Apparel/Footwear
10%
Other/Specialty9%
Off-Price8%
Beauty5%
Mass2%
* Class of 2019 data
Functional Breakdown of Accepted Retail Offers
* Class of 2018 and 2019 data
Note: Product Management and Operations/Supply Chain roles are driven by Amazon
2018 INTERNSHIPS 2018 FULL-TIME
Product Management
38%
Strategy/ Business
Development11%
Product/ Brand Marketing
9%
Operations/ Supply Chain
9%
Human Resource
Management9%
General Management
9%
Corporate Finance
9%
Other6%
Operations/ Supply Chain23%
Product Management
21%
Strategy/ Business Development
15%
General Management
12%
Other13%
Product/ Brand Marketing
8%
Analytics/ Data Science
4%
Corporate Finance
4%
Companies That Made Internship Offers in 2018*Preliminary Data as of August 2018
Apparel / Footwear Food & Bev General Merch/Dept Stores
eCommerce (Broad Platforms)
Other / Specialty
Levi Strauss
Nike, Inc.*
PVH Corp.
Rent The Runway*
Under Armour*
Yoox Net-A-Porter
Restaurant Brands International*
Imperfect Produce
HelloFresh*
Burlington Stores*
Walmart Stores
DICK’S SportingGoods
Amazon*
Wayfair
WalmarteCommerce
Apple, Inc.*
Burrow
Comcast (Retail)
Curology
The Estee Lauder Companies
Grove Collective
Helix Sleep
LOLA
Rocksbox
*Companies that are open to sponsoring international students to work in the US in 2017-2018Companies in bold are considered “mature” recruiters.
Companies That Made Full-Time Offers in 2018*Preliminary Data as of August 2018
Apparel / Footwear
Luxury/Beauty General Merch/Dept Stores
eCommerce(Broad Platforms)
Other / Specialty
H&M
Harper Wilde LLC*
MM LaFleur
Nike, Inc.*
Rent the Runway
The Americana Group
The Estee Lauder Companies
Burlington Stores*
Nordstrom
Amazon*
Jet.com
WalmarteCommerce*
Wayfair
Apple, Inc.
Restaurant Brands International*
*Companies that sponsored international students to work in the US in 2016 & 2017Companies in bold are considered “mature” recruiters.
Source of Offers: 2018*Preliminary data as of 8/21/2018
Internship Full-Time
Note: Does not include Amazon or Apple Retail. “Other” includes students starting a new retail venture
Wharton Job -On Campus Recruiting
Wharton Job -Job Posting
Personal Networking
Connections
Career Fair
Other
Wharton Job -On Campus Recruiting
Wharton Job -Job Posting
Wharton Alumni Contact
Personal Networking
Connections
Career Fair
Timing of Retail Internship Offers: Class of 2019*Preliminary data as of 8/1/2018
0
2
4
6
8
10
12
14
16
18
20
Tech Retail Retail
Timing of Retail Full-Time Offers: Class of 2018*Preliminary data as of 8/1/18
0
2
4
6
8
10
12
14
16
18
Tech Retail Retail
Retail Salary Breakdown: Class of 2019 & 2018*Preliminary Data as of 8/1/18
Retail Internship (monthly) Full-Time (annual)
Number Accepted 31 19Salary Range $2,300-$11,700/mo $90,000 - $150,00025% Salary $5,000/mo $105,000Median Salary $7,400/mo $117,50075% Salary $8,700/mo $120,000Number with Sign-On Bonus
6 15
Median Sign-On Bonus $2,500 $20,000
*Data is for Retail industry only (excludes Big Tech firms which fall under Tech industry). Salary median for ALL retail (including Big Tech) is $8,400 for internships, $130,000 for full-time.
Wharton MBA Alumni Survey 2017 – Base Salary and Total CompensationMedian (25th percentile/75th percentile)
Retail 2013-2017n=33
2008-2012n=24
Base Salary$125,000
($110,000/$175,000)$192,500
($146,500/$230,000)
Total Compensation$159,000
($120,000/$240,000)$242,500
($182,500/$365,000)
Average Title/Level Manager Founder / Director
Graduating Year
Retail at Wharton
MBACM and Retail Club Work as a Team
RETAIL CLUB MBACMEmployer Relationships• Industry relationships and firm
knowledge• Identify job opportunities• Facilitate employer-student
relationships
Skill Development • Job search skill workshops• Resume reviews • Mock interviews
Advising• Self assessment tools• Support in setting priorities, job search
planning, resources & tools, etc.
Career Related Events• Career treks • Lunch & learns • Retail Conference• Alumni panels & networking
Skill Development • Education and enrichment events• Job search skills workshops• Interview question database
Advising and Mentorship• 1Y/2Y peer mentorship
44
Wharton Graduate Retail Club
Retail Conference
• Date: February 2019 • Past Keynotes:
- Away Founder, Jen Rubio
- Farfetch Pres. of NA, Jeffery Fowler
- Alibaba VP of NA, Lee McCabe
- Fendi VP Retail US, Alejandra Rositto
Career Treks Charity Fashion Show
• Date: Spring 2019• Purpose:
- Proceeds go to charity
• Past sponsors: - Theory, Lilly Pulitzer,
Bonobos, Tiffany & Co, Anthropologie
Retail 101
• Date: Sept/Oct 2018• Purpose:
- Prepare students for retail recruiting
• Format: - Panels, speakers,
workshops, networking lunches
• 180+ Members• ~5 Annual Treks• Wharton Retail Conference attracts 100+ attendees
Fast Facts:
MBA Career Management
Jay H. Baker Retailing Center Cultivating Global Retail Knowledge and Talent Inspiring Retail Innovation Facilitating Interdisciplinary Industry Research
INCREASING KNOWLEDGE OF RETAIL AND FASHION• Advisory Boards—traditional/digitally
native industry leaders• Industry Career Treks• Executive & Lunchtime Speakers Series• Retail Career Development Advising• Retail Execs in the Classroom• Industry Networks
435 Vance Hall | [email protected] | 215-5-RETAIL |
Joey Zwillinger, Co-Founder, AllBirds (west coast board) Stuart Weitzman, Executive in Residence
Professor Tom Robertson, Academic Director
Week of 9/17 Baker Retailing Center moves to 3819 Chestnut Street, St. Leonard’s Court ComplexOctober 1 Marc Lore, President & CEO, Walmart eCommerce US (Wharton Leadership Lecture)October 10 Nicolas Topiol, CEO, House of Christian Lacroix (Classroom/Baker Lunchtime Speaker Session)October 12 Industry Career Trek (H&M and Alice and Olivia)October 15-16 Stuart Weitzman, Founder, Stuart Weitzman LLL (Executive in Residence)October 17 Linz Shelton, Global Social Media Director, Michael Kors (Classroom/Lunchtime Speaker)October 19 Scott Hilton, Chief Revenue Officer, Walmart eCommerce US (Classroom, Lunchtime Speaker)November 12-13 Stuart Weitzman, Founder, Stuart Weitzman LLL (Executive in Residence)November 28 Beth Kaplan, Board Member & Former President & COO, Rent the Runway (Classroom/Lunchtime Speaker)
Baker Retailing Center Programs/Fall 2018 (as of 8/29/18)
Next Steps and Resources• MBACM and CareerPath
• One-on-one advising sign-ups open now; sessions begin 9/10
• Complete your CareerPath profile and set email preferences
• Attend career workshops and utilize resources on MBACM student website
• Work on your resume; submit through CareerPath by 9/10 for MBACM feedback
• Retail Club and Baker Center
• Retail Club Info Session (mid September)
• Baker Center / Wharton Leadership Lecture with Marc Lore, President and COO of Walmart eCommerce (October 1)
• Wharton Community
• Begin networking with your classmates
• Search Wharton offer directory to identify 2nd years and target firms(Note: search criteria includes work authorization status)
Read emails from MBACM for important information on upcoming events and deadlines
Upcoming MBACM Events
First Year Info Sessions & Coffee Chats (more to come)
Alumni Power Dinners
Jeremey Boardman, WG’09November 14th
Wayfair (Former Army Director)Senior Manager
RESUME WORKSHOP Q&A
Upcoming Workshops
NAVIGATING CAREERPATH & MBACM WEBSITE
• September 6 & 19 @ 12pm• Advisors share best practices, industry tips and
recommended resources, with open Q&A• Sign up in CareerPath
• September 17 & 18 @ 12pm• How-to demos for essential CareerPath functions
and intro to key web resources• Sign up in CareerPath
How We Will Communicate with You
Class Emails• Friday delivery (typical)• Deadlines, workshops, and
resources
Industry Alerts (bookmark this link!)• Sunday delivery• Based upon industry preference• Application deadlines, jobs, and
recruiting events
Advisor Emails• Delivery as needed• Industry-specific advice• Recommended resources• Reminders and deadlines
Contact Information
Wharton MBA Career Management50 McNeil Building, 3718 Locust Walk, 215-898-4383
Website: http://mbacareers.wharton.upenn.edu/studentGeneral Email Inquires: [email protected]
Retail Industry TeamSugirtha Stathis, Career Advisor, [email protected]
Jamie Hendel, Employer Engagement, [email protected]
Retail Club Co-PresidentsMelina Flabiano, [email protected]
Farah Virani, [email protected]
Questions?
APPENDIX
Tactical Next StepsNext Step How to… Resources…Company List (n=10-15) • A’s: 5
• B’s: 5• C’s: 5
• Offer Directory• CareerPathResource Library (MBACM
company notes)• CareerPath Jobs (& archive)
Research • Keep detailednotes for each “A” and “B” company
• MBACM siteResearch Tools• CareerPath notes• 10-Ks/Analyst Reports• Lippincott• Networking• JobTreks (organization & tracking tool)
Networking• 1Ys & 2Ys (talk now)• Alumni (talk when
ready, make list now)
• Ask about role, projects, trends
• Take notes• Send TYs
• Offer Directory• SPIKE Community• Resume Books• LinkedInWharton SchoolSee alumni
Resume • ActionResults• Add Wharton
leadership• Add Clubs
pertinent to role
• MBACM siteResume Help
MBA Career Management
Advice from 2nd Years• PREPARE, and PREPARE EARLY! There is SO much that can be done before the process kicks off
• Know thyself, reach out early to companies of interest and narrow down targets over time. Remain flexible but focused on interests. Think strategically – select opportunities that make sense both short and long term
• Reach out to 1Ys and 2Ys who have worked at the companies you are interested in and use the Retail Club as a resource.
• Demonstrate passion for retail; strong analytical skills go a long way for most roles; talk about your experiences as a consumer from a retailer perspective.
• International students, leverage your understanding of other retail markets in addition to the US market
• As a career switcher, you need to demonstrate a true interest in retail, and it is helpful to showcase analytical skills, which are in increasingly high demand at retail companies.
• With contacts from conferences and networking, the most important thing is to follow up!
• Don't be afraid to reach out to companies directly; demonstrate your enthusiasm and familiarity with your top firms, as well as their sector in retail. Retail sites like Business of Fashion and Womens Wear Daily are great to read regularly.
• If you are a career switcher, it is essential to think outside the box for recruiting (go to conferences, make presentations, tap into the alumni network). Don't rely on the simple resume drop for an internship.
MBA Career Management
FAQ Retail Recruiting Can I recruit in Retail and another industry?
• Yes, it is manageable.• Most common industry overlaps: Tech, B2C Startups, CPG
What is the right time to start reaching out to alumni?• Once you have a better sense of your story (why Retail/sector/company/role, etc.); do homework first by talking to experienced 1Ys and 2Ys
Do Retail firms sponsor US work authorization?• It varies by firm and position. Sponsorship is role-dependent and can change from year to year, so always check the current job posting.• Firms that have sponsored in recent years include: Burlington Stores, Rent the Runway, Walmart eCommerce, Nike, LVMH, Restaurant Brands Int’l, Amazon, Apple Retail
Can I do two internships?• Sometimes• Cautionary tales: won’t extract full value of internship; may cue lack of interest or commitment; risks low performance, no offers• Recommended only if one is long (~10wks) and one is short (~4wks)
MBA Career Management
Internship/Full-Time Yield (WG18)
51% of students reporting accepted offers report having done their internship at the same company.
0
10
20
30
40
50
60
70
80
90
100
% A
ccep
ting
from
Inte
rnsh
ip
Note: Preliminary data as of 7-11-18