In 1991, most of you were too young to be concerned about the economy, job market and career opportunities.  However, just 10 short years ago, people were just beginning to talk about the “information superhighway,” what we know now as the Internet.  They were concerned about the impending presidential election; worried Desert Storm would escalate into full-scale global military conflict, and were apprehensive about the job market because of a recession that had slowed economic growth to a crawl.  Yet some of the best MBA graduates in that year enjoyed multiple job offers at salaries that showed a nearly double-digit increase over the previous year.  Four such 1991 MBA graduates that I know are now, and have been, enjoying the fruits of their labor.  One is a senior vice-president of a major financial institution; another, a senior executive at a major consumer products company; the other holds a Ph.D. and is pastor of a large wealth-creation ministry; and the fourth, a Ph.D. teaching at a major Midwestern university.  In spite of uncertain economic times, these and many other MBA’s continue to do quite well.

Flashback to a year ago, and you would have read about three upwardly mobile MBA’s talking about entrepreneurship, IPO’s, e-commerce and dot-coms.

Now, in 2001 and into the next year, forecasters are worried again about the slowing economy and its interrelationship to global events and how this situation will impact MBA employment opportunities.  There is no question these factors have, and will continue to effect the MBA job market.  The good news is that the well-prepared MBA graduate, regardless of color or ethnicity, will still find significant prospects.  The key word here is well -prepared.  It has been well documented in countless surveys over the past 10 plus years that corporate executives find MBAs lacking in soft skills, in particular, communication skills.  All accredited MBA curricula provide varying degrees of appropriate technical/academic training, thus the difference between one MBA and another is the extent to which he or she has mastered the soft (non-academic) skills and is able to exhibit them effectively.

We asked Denise Bell, executive recruiter for Bloomgross & Associates in Chicago, about the significance of soft skills and leadership development.  “MBA students will be expected to sift through a tremendous amount of information, cull it down to the most salient factors and present it succinctly with relevant, supported recommendations.  Therefore, I think strategic thinking and effective communications skills are among the most important any MBA can possess,” said Bell. She added, “Before you can move toward the above presentation as an employee, you must get hired.  A professional resume, effective interviewing skills, and polished presentation skills, coupled with a professional image are important factors in obtaining the position.  These skills must be developed.”  According to Bell, many MBA programs offer training in these and other skills through elective or optional seminars, workshops and/or classes.  “It is important to take advantage of these offerings to cultivate and hone these skills.  Other significant skills include: proficient time-management, business etiquette, and cross-cultural and cross-functional teambuilding skills. Equally valuable are leadership development, knowing how to foster mentor relationships, and mastering effective social interaction, Bell remarked.”

Sylvia Bennett, (right) a Clark Atlanta University MBA graduate and vice president of Credit Card Banking at American Express Company, conveyed: “Preparation+ Opportunity+ Performance=Success.  This is a very basic equation that describes the dynamics of today’s business world.  The new global economy has spawned a business environment that is extremely challenging, ever changing and fiercely competitive.  Excellent academic preparation is required, but the difference that separates the winners from the ‘also-rans’ is the mastery of the non-academic skills such as communication and interpersonal skills.”  Bennett has experienced a meteoric rise since she joined American Express five years ago.  Her mentors credit her success to strong technical skills, her ability to be an effective team member, and, most importantly, exceptional soft skills.

This scenario is consistently repeated in countless businesses for young MBAs with the appropriate preparation and drive to take advantage of fast-track opportunities.  While Black MBAs may still be more scarce than MBAs of other ethnicities, in greatest demand, despite their ethnicity, are those with well-honed skills, a compelling story, and the enthusiasm and ability to contribute to a company’s success.  Leadership and professional development is the common thread that connects MBAs who have multiple opportunities.

We talked to Anita Muhammad, (left) a recent MBA graduate and budding entrepreneur of OverTheTop Marketing, a full-service marketing firm.  She discussed the importance of skill development.  “Possessing a first-rate MBA theoretical education provided me the opportunity to explore entrepreneurial options.  However, now as an entrepreneur, the practical value of all of the soft-skills learned and implemented in pursuing my MBA are priceless.  Whenever I speak to prospective and new students with respect to the most significant lessons to learn in b-school, I place special emphasis on communications and relationship building. Relationships weigh heavily on the professors’ and classmates’ perceptions in school and are even more pronounced in the business world,” said Muhammad. She maintained “the ability to discern where a person is at a particular time with regard to reading his or her disposition, and then utilizing that information to the benefit of all parties concerned, is an art form.  In traveling with OverTheTop Marketing nationally and abroad, I know that my ability to present myself as humble, respectful and receptive to learning other languages and cultures, will provide leverage over other business owners who are oblivious of the significance of these [soft] skills.” In continuing, she added, “ as educated people, it is oftentimes our inability or lack of desire to reach into our ‘softer’ side, which prohibits us from getting where we think we deserve to be.   While a solid theoretical education cannot be ignored, learning, understanding, and implementing interpersonal communications, time/people management and social skills are vital to our success in the classroom and beyond, regardless of the roles we play in this world.”

The bottom line is that MBA career opportunities will continue to be plentiful, but the competition will be fierce.  The spoils, however, will go to those who are well prepared.  The value of an MBA education remains unscathed. It continues to be the ticket to better opportunity.