RJ and Makay

"Creating shared value," the new catch phrase used in corporate circles to describe the seemingly incompatible goals of making money and doing good in the world, was a key topic at the Committee Encouraging Corporate Philanthropy conference. The conference was held in New York on Monday as part of International Corporate Philanthropy Day.

These days, conference attendees agreed, philanthropy is no longer just about donating to charity but about executives making social responsibility a part of doing business. "Once you understand the impact you can have ... then you are on mission, then it becomes spiritual, it becomes part of the DNA of the company," says Bill Green, chairman of Accenture.

Business schools saw an increase in recruiting for MBAs this fall on behalf of banks and brokerages. The industry is optimistic about the economy improving, and hiring managers in financial services are sweetening offers in order to lure MBA candidates, believing that need for qualified candidates will be increasing. According to a recent study done by the Graduate Management Admission Council, the average newly minted MBA recipient can expect an annual base salary of almost $89,200 this year, 3.2% more than MBAs who graduated in 2009.

Wharton reported that 20% more students were offered summer banking internships in 2010 than in 2009. At New York University’s Stern School of Business, which places about 30% of its students at investment banks, 10% more bank recruiting events for full time positions and summer internships took place this fall. Also, there are one-third more full time investment banking jobs posted on the Stern job board compared to a year ago. Columbia Business School, which places almost 50% of its students in financial services, saw an increase in recruiters visiting its campus this fall, and experienced a 45% jump in full-time job postings.  Regina Resnick, assistant dean and director of the career management center there, said, “The backlog of candidates from the past couple of years had been erased.”  Harvard Business School also expects a deluge of offer letters for MBA candidates as graduation approaches.