May 19, 2006
by Jessica Santina
Local Education Columnist
After the recession began in 2001, forcing a job-market slump, many MBA students wondered if they'd have jobs after graduation. So they bet their job searches on some unlikely industries, and gaming paid off big.
An Easy Gamble on Business School Grads
Gary Loveman, CEO of Harrah's, an M.I.T.-trained economist and former Harvard business school professor, built his career on preaching one simple lesson to MBA students: identify your most profitable customers and get them to shop more often. When he left Harvard in 1998 to take on Las Vegas, that theory paid off. In 2005, Harrah's stock jumped by a third. And when Harrah's takes over Caesars for $9.4 billion this year, Harrah's will become the world's largest gaming empire.
"I endeavor to hire MBA's with experience in financial services and retailing who can transfer ideas to the gaming business," said Loveman in an interview with the Wall Street Journal. And it's not just Harrah's who needs highly analytical MBA grads to fill jobs; the Las Vegas Sands not only hires MBA interns, but its new leadership-development program hopes to recruit more MBA graduates.
Las Vegas needs strategic business planning, marketing, revenue management, budget optimization, and risk management--traits MBA grads have in spades.
Why Vegas?
In the May 2005 issue of Inc. Magazine, Las Vegas was ranked the 14th best city in the country for doing business. Located in the fastest-growing state in the country, Las Vegas boasts a highly diversified economy, which includes manufacturing, high tech, healthcare, and gaming--all of which rely heavily on MBA's to handle leadership jobs. And Entrepreneur magazine has ranked Las Vegas 11th in the nation for economic growth and entrepreneurial activity. Undoubtedly, entrepreneurial-minded MBA's have a bright future in this desert oasis.
Combine those impressive numbers with more than 250 days a year of sunshine and plenty of fun to be had when work is over for the day, and you can bet on finding a great career with an MBA in Las Vegas.
Sources
About the Author
Jessica Santina is a freelance writer with a background in media and marketing. She also teaches first-year writing courses at the University of Nevada, Reno.
|
