Internships Give UA Grads a Jump-start

The U.S. Bureau of Labor Statistics says the number of unemployed people has risen by 7 million since the start of the recession.

MBA graduates from the University of Arkansas’ Walton College of Business, however, are bucking that trend. According to figures released by the school, 72 percent of 2009 graduates had jobs waiting, and 80 percent had jobs within one month of graduation. The 72 percent who had secured employment by graduation reflected a 4 percent jump over 2008.

Marion Dunagan, Walton College’s assistant dean for graduate programs, believes the key to the graduates’ success is an internship that was revised in January 2007. The program places MBA students in internships with area companies — such as Tyson Foods Inc., Saatchi & Saatchi X, and Wal-Mart Stores Inc. — and allows them to earn both academic credit and stipends.

 “The students are not just learning theory. They’re applying what they’ve learned,” Dunagan said.

Another benefit, at least for the local companies and the UA, is the rate of graduates who remain in the area to work. Eighty-six percent of the 2009 graduates who found work did so in Arkansas. That’s a 12 percent jump from 2008.

“Our first goal is for the student to do what is best for him,” Dunagan said, “but being the University of Arkansas, we like our students to stay in Arkansas as much as possible.”

According to the numbers released by the university, the average salary of employed 2009 MBA graduates is $61,494. Compared to their salaries upon entering the MBA program, the average increase was $21,218, or about 84 percent.