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A history of trend-spotting The McGraw-Hill Company produces everything from textbooks to television stations. Its empire includes Business Week, McGraw-Hill educational materials and corporate-ratings provider, Standard & Poor's. The company started in 1909 when two trade magazine publishers, James McGraw and John Hill, joined forces to publish scientific and technical books under the name The McGraw-Hill Book Company. The next 50 years saw the ambitious and successful publishing company pump out dozens of new trade magazines. The company has a history of uncannily accurate predictions - two months before the Great Depression, McGraw-Hill's Business Week went against current public opinion by expressing concern over the state of the economy. In addition, the publisher has consistently demonstrated an ability to use technological breakthroughs to its advantage. It began producing educational software and textbooks on CD-ROM before they were in high demand at schools across the country. Continuing to expand, carefully Now the nation's leading textbook publisher, McGraw-Hill continues to expand its range of products to include, among others, financial services. The company swapped its legal publishing arm for the Times Mirror's Higher Education Group in 1996, and sold its multimedia publications (including the popular computer trade magazine, BYTE) to CMP Media in 1998. One of the company's high-tech arms, McGraw-Hill Lifetime Learning, bought UK multimedia training and intranet technology company Xebec in June. Also in 1998, McGraw-Hill president Harold "Terry" McGraw III replaced the retiring Joseph Dionne as CEO. The great-grandson of the company's co-founder reaffirmed the company's mission to expand as a global information, education, and financial services provider. To that end, the company has recently acquired Tribune Education, and medical publisher Appleton & Lange. However, these acquisitions have been balanced with carefully planned divestments, including five digital printing centers, and Tower Group International - a transportation logistics company.
Most McGraw-Hill divisions hire through the company's main office in New York, which accepts resumes via regular mail and fax. Applicants should indicate the specific division in which they are interested. For detailed information regarding specific openings, contact McGraw-Hill's headquarters in writing by regular mail. McGraw-Hill also offers a variety of consulting positions for those already in the industry, and company representatives visit college campuses each fall for on-campus interviews. For most general management positions, McGraw-Hill requires five years of prior business experience as well as a degree in finance, marketing, media or general management. McGraw-Hill insiders say the firm prefers MBAs with concentrations in finance, marketing, media and general management. The interview process is described as "laid back" with the interviewer more interested in "personality and initiative and independent thought than in specific skills." It is McGraw-Hill policy to have at two interviews before granting a job offer "although sometimes they combine it into one interview with both people at the same time."
Fractured culture Because of its decentralized, diverse business practices, the corporate culture at McGraw-Hill varies widely from office to office, with employees from one division rarely coming into contact with those from another. Consequently, there is a wide range of opinion of McGraw-Hill's corporate culture. Some employees complain of an "authoritarian" management style that dominates the company, while others laud upper-level management's "involved, hands-on attitude." Says one source: "The corporate culture is somewhat stodgy, but likes to think of itself as cutting edge." 37.5's the magic number Employees appreciate "the nationally recognized name" of McGraw-Hill, as well as the reasonable hours and outstanding benefits. "We work 37.5 hours a week, which is nice," one insider says. The benefits are "very good" with "excellent" vacation time. Employees also note that the dress code "ranges from business casual (sports coats and ties for men) to suits, at least in NYC." Ooooh, the bitter pill of publishing salaries However, employees complained about the low salary - which is a creature of the publishing business. "Salaries are reasonable but not stellar," one says diplomatically; "the money sucks," another says more bluntly. Still, many say that the "experience" and "challenges" of McGraw-Hill makes it a "perfect" place to build a career in publishing. Moreover, employees appreciate that the company "aggressively" recruits and promotes a "broad spectrum of minorities." Says a contact: "Women and minorities have an excellent chance for promotion."
Human Resources More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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