GMAC and Futurestep Alliance To Provide MBAfuturestep

Business Wire, Jan 4, 2001

Business Editors

MCLEAN, Va.--(BUSINESS WIRE)--Jan. 4, 2001

The Graduate Management Admission Council(R) (GMAC) and Futurestep.com, a subsidiary of Korn/Ferry International (NYSE: KFY), the leading executive recruitment firm, have partnered to create MBAfuturestep, a comprehensive career management and executive recruitment service designed exclusively for prospective and current MBA students, and MBA alumni. MBAfuturestep leverages the power of the Internet to support professional growth and development through graduate business education.

As sponsors of the Graduate Management Admission Test(R) (GMAT(R)), GMAC now provides an easy way for test registrants to join MBAfuturestep, helping them create a unique and customized career resource that will maximize their potential for employment. By joining MBAfuturestep, GMAT registrants, along with current MBA students and alumni, are given the opportunity - at no cost to them - to be considered for exclusive positions with Futurestep clients for the duration of their professional career.

"MBAfuturestep provides the clearest answer to the question, 'where do I find the best career opportunities for advancement and growth?'" says David Wilson, president and CEO of Graduate Management Admission Council.

MBAfuturestep candidate resumes' are reviewed by Futurestep recruiters for potential placement with thousands of clients ranging from international blue-chip corporations to smaller niche firms. Recruiters contact candidates for interviews only after they have clearly matched an individual's skills and style with a client's needs.

"The creation of MBAfuturestep allows us to better serve our clients' needs in this rapidly growing segment," said Peter L. Dunn, Vice Chairman of Korn/Ferry International and acting CEO of Futurestep. "Along with GMAC, we are pleased to offer MBA students and graduates an online exclusive resource that is easy-to-use, free of charge, customized, unique and comprehensive."

How it Works

MBAfuturestep utilizes the expertise of executive recruiters complemented by comprehensive assessment tools. The questionnaires completed at registration help recruiters to learn about candidate skills, preferred job characteristics, and desired corporate culture. Once recruiters understand a client's culture and required needs for particular positions, MBAfuturestep candidate resumes are carefully reviewed to find an ideal match of qualifications and preferences. Following this screening process, prospective candidates are sent a video box for a videoconference interview. If candidates do not match current searches, they remain in the database to be considered for subsequent searches.

The registration process also allows candidates to complete several self-assessment tests, which generate actual salary market value reports. In addition, candidates receive a profile of the industry and positions for which they are most suited, the company culture with which they are most compatible, and the areas of expertise on which they can build. These tools can be used to provide insights into new career directions, as well as help candidates identify professional strengths and weaknesses. To register for MBAfuturestep, visit www.gmac.com.

About GMAC

The Graduate Management Admission Council(R) is a not-for-profit education organization of leading graduate business schools worldwide, dedicated to creating access to and disseminating information about graduate management education. GMAC exists to serve its many customers--both institutions and end users of our products and services.

GMAC provides products and services that add value to graduate business schools and their students including Graduate Management Admission Test(R) (GMAT(R)); MBA Forums(R); MBA LOANS(SM) ; POWERPREP(R)/The Official Guide for GMAT Review; Pre-MBA CD-ROM Series; professional development for business school administrators; and test-taker and trend data. For more information, visit www.gmac.com.

About Futurestep

Headquartered in Los Angeles, Futurestep.com was created through a strategic alliance between Korn/Ferry International and The Wall Street Journal. Futurestep combines the speed and reach of the Internet with Korn/Ferry's executive search expertise to fill positions at the $75,000 to $150,000 compensation levels. Currently there are more than 700,000 candidates registered on the Futurestep.com database. For further information, visit www.futurestep.com.