Summer Internship Candidates from Harvard, MIT, Chicago, Northwester…

Summer Internship Candidates from Harvard, MIT, Chicago, Northwestern, Columbia and Virginia Are First to Benefit from Bain’s 3D Virtual Recruiting Center in Second Life®

NEW YORK–LAWFUEL – Law Jobs News –Embarking on a “3D virtual world” pilot project which could foreshadow major changes in corporate recruiting practices at colleges and universities, Bain & Company this month opened the Bain Virtual Recruiting Center in Second Life. Summer internship candidates on campuses at six top-tier U.S. business schools simultaneously joined Bain executives in five cities on two continents for the Virtual Recruiting Center’s inaugural event in cyberspace on March 6.

Leading universities represented included Harvard Business School (Harvard University), Sloan School of Management (Massachusetts Institute of Technology), University of Chicago Graduate School of Business, Kellogg School of Management at Northwestern University, Columbia (University) Business School, and Darden School of Business (University of Virginia). All students attending the invitation-only career-planning event received summer internship offers in either Bain’s Chicago or New York office.

“Bain has a history of innovation, and we are always looking for new opportunities to complement and enhance our on-campus recruiting activities,” said Julie Coffman, head of recruiting for Bain in North America and a Chicago-based partner in Bain’s global financial services practice. “We view this pilot project in Second Life as a way to carefully evaluate the networking opportunity, enhanced access to Bain employees and content, and convenience and cost-savings benefits that the 3D virtual world seems to bring to the recruitment process.”

“The three-dimensional Internet clearly presents great potential,” added Bill Neuenfeldt, head of Bain’s global schools recruiting program and a New York-based partner in Bain’s global media practice. “But the true test of success or failure for the virtual world will be whether it can help to create new markets or, in this specific case, to advance a key business process such as talent recruiting.”

Ms. Coffman and Mr. Neuenfeldt, participating from New Orleans and New York respectively, were among the various Bain partners and consultants available to students during the recruiting center’s inaugural event. Steve Ellis, Bain & Company’s worldwide managing director, logged in from Delhi, India, where he was attending a Bain management board meeting.

Other Bain partners and consultants who bridged geographic distances to meet in the 3D virtual world included, from Chicago: Dave Fleisch, partner in Bain’s global healthcare practice and expert in the payor/provider industries, Sara Martin, consultant and former Bain summer associate (Summer 2005), and from New York: David Cooper, partner in Bain’s global consumer products practice and innovation strategy expert; Tim van Biesen, partner in Bain’s global healthcare practice and generic drug industry expert, and from Boston: special guest, Fred Reichheld, Bain Fellow and author of the current best selling book, “The Ultimate Question: Driving Good Profits and True Growth” (Harvard Business School Publishing, 2006). Mr. Reichheld started his 30 year association with Bain as a summer associate in 1977. He joined Bain full-time the following year.

By registering for the event, the students from Harvard, MIT, Chicago, Northwestern, Columbia and Virginia received customized ‘avatars’ (graphical images representing people in Second Life) and were automatically transported to the Bain Virtual Recruiting Center. The student experiences included:

Networking: Upon arriving at the recruiting center, students were greeted by Bain consultants and event staff. Each spent the first 15 minutes networking with Bain executives and internship candidates from other universities. Students also had the opportunity to explore visuals about the Bain summer associate (internship) program, lifetime career development opportunities post-Bain, and a taste of life at Bain across the consulting firm’s 33 international locations. Students viewed slide presentations, digital photos and video.
Panel Discussion and Q&A – Students then gathered in a virtual auditorium for a 30-minute presentation with Bain panelists, followed by a question-and-answer session. The virtual Q&A between Bain executives and internship candidates was facilitated through an integrated mix of audio and text chatting.
One-On-One and Small Group Discussion – Students were ‘teleported’ to break-out areas in the upper virtual auditorium for final discussions regarding internship opportunities in Bain’s Chicago and New York offices. The candidates met individually, or in small groups, with Bain partners and consultants and with cross-university peers. Students also viewed a digital photo collage of some of their ‘real world’ recruiting activities – which took place in Chicago and New York in February.
Bain’s post-event survey of student attitudes found that participants – most of whom were first-timers in Second Life – enjoyed the experience. Cited as a major benefit of the event was the uncommon access to senior Bain partners, particularly Steve Ellis, Bain’s worldwide managing director. The students commended Bain for its willingness to engage in new and innovative recruiting methods.

For more information about Bain’s Second Life recruiting event or to schedule an interview with Julie Coffman or Bill Neuenfeldt, please contact Cheryl Krauss at email: [email protected] or 646-562-7863, or Frank Pinto at email: [email protected] or 917-309-1065.

About Bain & Company, Inc.

Bain & Company, a leading global business consulting firm, serves clients on issues of strategy, operations, technology, organization and mergers and acquisitions. The firm was founded in 1973 on the principle that Bain consultants must measure their success by their clients’ financial results. Bain clients have out performed the stock market 4 to 1. With offices in all major cities, Bain has worked with over 3,300 major multinational, private equity and other corporations across every economic sector. For more information visit: www.bain.com.

About Second Life and Linden Lab

Second Life is a 3D online world with a rapidly growing population from more than 100 countries around the globe, in which the Residents themselves create and build the world which includes homes, vehicles, nightclubs, stores, landscapes, clothing, and games.

The Second Life Grid is a sophisticated development platform created by Linden Lab, a company founded in 1999 by Philip Rosedale, to create a revolutionary new form of shared 3D experience. The former CTO of RealNetworks, Rosedale pioneered the development of many of today’s streaming media technologies, including RealVideo. In April 2003, noted software pioneer Mitch Kapor, founder of Lotus Development Corporation, was named Chairman. In 2006, Philip Rosedale and Linden Lab received WIRED’s Rave Award for Innovation in Business. Based in San Francisco, Linden Lab employs a senior team bringing together deep expertise in physics, 3D graphics and networking.

Note to editors: Second Life® and Linden Lab® are registered trademarks of Linden Research, Inc.

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