Agribusiness Job Market Preparation: Market Realities versus Student Perceptions

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Agribusiness Job Market Preparation Market
Realities versus Student Perceptions

• Paul D. Mitchell AAE 320
• Spring 2009

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Goal

• Overview research conducted by my former
  colleagues at Texas AM University
• How should students spend their time?
• Try to put AAE 320, undergraduate class work, and
  UW as a whole in perspective

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Characters

• John Siebert Dr. Agribusiness!
• George Davis Econometric philosopher
• Kerry Litzenberg Agribusiness/Sales
• Josef Broder Agriculture Dean, U of GA
• All 4 are award winning teachers

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Question

• How should junior level students allocate their
  time to maximize their chances of obtaining the
  highest starting salary offer from an
  agribusiness firm?
• Study both Employer and Student answers
• How accurately do students perceive preferences
  of agribusiness employers?

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Company Survey

• Fall 1997 Spring 1998
• 69 agribusiness firms
• Average sales 5.1 billion
• Agribusinesses farm suppliers, first handlers,
  food processors, food distributors, restaurants,
  and retail grocers

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Firm Survey Results Summary
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Recommended Student Time Allocation

• A junior level student wants to prepare to work
  for your company and is seeking a top salary
  offer?How should he/she allocate time among these
  five areas?
• Technical Course Work
• Raising GPA
• Work or Internship Experience
• Leadership Experience in College
• Interview Preparedness

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Recommended Student Time Allocation
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Student Survey

• Fall 1998 survey of 993 college students taking
  agricultural economics courses
• 806 Texas AM University
• 187 University of Georgia
• Career Choice
• 15 to Farm Suppliers
• 12 to Farming/Ranching
• lt 50 into Agribusiness/Food Supply Chain

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Where do the others want to go?

• Government/Legal
• Marketing/Sales (non-agricultural/food)
• Banking/Finance
• General Business
• Pharmaceutical/Medical

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Recommended Student Time Allocation

• A junior level student wants to prepare to work
  for your company and is seeking a top salary
  offer?How should he/she allocate time among these
  five areas?
• Technical Course Work
• Raising GPA
• Work or Internship Experience
• Leadership Experience in College
• Interview Preparedness

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Student Recommended Time Allocation
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Comparing Students and Firms
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Pooled Firm and Student Results
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Employer Deviations from Pooled Means
P Values 0.2981 0.0023
0.0083 0.0787 0.0073
P Values probability these deviations actually
zero
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Summary of Implications Agribusiness Companies

• Value Work/Internship and Leadership Experience
  more than students believe
• Value Grades/GPA and Interview Preparation much
  less than students believe
• Technical Preparation in business expect a
  minimum competency and will teach the rest
• If you want to work in business, do
  internships/part-time jobs and get involved in
  volunteer organizations and student clubs

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Citation

• Siebert, Davis, Litzenberg, Broder. 2002. Time
  Allocation Decisions Associated with Job Market
  Preparation Undergraduate Perceptions Versus
  Market Realities. American Journal of
  Agricultural Economics 84222233