Ask second-year business administration master's student McKenna Brooks who's in her LinkedIn network, and she'll say "Everyone."
LinkedIn, a professional networking Web site launched in May 2003, has made an already well-networked field easier to network for UT business graduate students such as Brooks who have just broken into the business world.
In the tradition of social networking sites like Facebook and MySpace, the site is gaining importance in the business professional world. The site lets users connect with professionals in their field, search for jobs and references and maintain relationships with former and current coworkers.
Christie Ariate, a second-year MBA student at UT, has used the site to investigate new workplaces.
"LinkedIn has definitely permeated the upper echelons of all the investment banks and consulting firms," Ariate said. "It's been useful to find common ties and friends of friends in new businesses, since young people change careers so much."
Besides being a tool for job seekers, Ariate said LinkedIn has also changed recruitment processes.
"Recruiters will check your background, use the testimonials feature to find out how you did at your last job, et cetera." she said. "Everybody has a lot more background on the people they work with."
The site accumulated significant financial backing in the business world when it was first proposed.
Founded by former PayPal executive Reid Hoffman, LinkedIn is funded by large venture capital firms such as Sequoia Capital and Bain Capital Ventures. The site is currently valued at more than $1 billion. The site broke even and started reaping profits in March 2006.
The Internet is making it easier to network, which is becoming an important professional tool, said Ilan Guedj, a professor of finance in the McCombs School.
"All the business schools advertise their networks really hard. It's one of the biggest assets that schools have," Guedj said. "If you have a strong group of alumni, you have a better chance of getting your first job and also a new job down the road."
David Wenger, McCombs School of Business spokesman and LinkedIn user, said the site also appeals to a generation of professionals who didn't grow up with social networking sites, because it is geared toward individuals who are currently employed.
"My kids, who are teenagers, feel very comfortable putting themselves out there in a social network site. I haven't seen a lot of appeal," Wenger said. "LinkedIn seems like it has a more serious purpose - it has some business value."
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