For new L.A. M.B.A.s, it may be the worst of times. However, (to badly mangle a famous Dickens’ quote) it would take very little on the part of our brand-name companies to make it the best of times to acquire new M.B.A. talent.
Let me give you a real instance.
A young M.B.A. interned at a major entertainment firm. She was a solid student who had loved the entertainment business since high school. She finished college then began working in New York in distribution of films/television.
During her last summer before graduation, she got an internship in Los Angeles at one of our best firms. This Brand Name firm invested a lot into her education. And she appreciated what she learned and decided that Los Angeles was the place to be.
She is the kind of person our region needs: smart, driven, well educated with solid work experience, an analytical mind and a love for Los Angeles.
At the conclusion of her graduate program, she got an immediate offer from an electronics firm in international media distribution based in South Korea.
The electronics firm offered a well-structured program that permitted new M.B.A.s to be based in Asia and gave her assurances that her knowledge would be used in teams around the world, starting immediately.
Oh, yeah, and they offer 25 percent more in starting salary, a substantially larger starting bonus and a guaranteed two years of employment.
Just as she had almost given up hope on Los Angeles, she finally got a call from the Brand Name firm where she had interned.
The L.A. company provided a good offer (not as good as the Asian firm’s): six-figure starting compensation, starting bonus, relocation package and a one-year guarantee of employment.
However, the position was based in Los Angeles with little hope for travel, let alone being sent to a global location to solve problems.
The only compelling part of the job was the brand name of the company.
She called for advice.
Really, she had already made up her mind – and it had nothing to do with money. And little to do with the L.A. brand name (the other company was no slouch in terms of brand names in Asia). It had everything to do with getting immediate use of her talents in global situations.
International appeal
Right now, international experience is a magnet for good M.B.A.s. Heading to Asia to begin her ascent in the global marketplace was a real draw.
Case closed.
What can L.A. companies learn from this?
This reminds me of a trip I took to India where I asked the head of one of their M.B.A. programs what they needed from the United States. “Well,” he said, “send us your best and brightest.”
If Los Angeles obliges these firms, we will continue to be seen as “U.S.-centric” and we will continue to lose talent to areas that understand that having a division in another country is different from being a global powerhouse.
The L.A. firm did everything right – it invested in the education of an M.B.A. and offered her a position, but when it came time to pull the trigger, the firm relied on its brand to be competitive.
Global experience is the new road to talent acquisition. Graduate students are taught that future business will be global.
To get the best talent, companies in the L.A. area need to use their location in the Asia Pacific region and their partnerships with other countries to acquire and grow new talent.
Patricia Palleschi is head of the Executive Agency, an executive training and coaching consulting firm in West Los Angeles.
