I am interviewing for a yield management job with an airline. The offer came through by chance with some connections. I know quite a bit about airlines, but not any real specifics on yield management. Can anyone help me out with information beyond what they do [inventory control]? I would like to appear knowledgeable at my interview. This will be my first job, I am a graduating senior, so no prior airline experience.

thank you much,

anc

Congratulations!!!

Paradox!

Project the confidence you can learn....for this is what you have been doing. Knowing too much about YM, without real experience, could be viewed as not being real.

10 points for asking, and seeking!

Being confident without knowing, yet willing to explore the unknown, is what is valued.

No specific suggestions (I'm not in the airline industry) - but here's wishing you good luck!!! ^

-Chris

How about reading up on articles about Yield Management?

Definition & History of Yield Management:
http://www.optims.com/UK/hight_profits.html

Article from Loyola University Professor: http://www.luc.edu/faculty/eventa/ar...83we/yield.htm

Into to Theory & Practice of Yield Mgmt (Wharton School & U of Rochester)
http://omg.ssb.rochester.edu/omgHOME...ement_note.PDF

MIT animated yield management simulation:
http://web.mit.edu/urban_or_book/www/animated-eg/ym/

And having read those articles, don't inundate the interviewer with facts. Go into the interview able to summarise the job, the challenges, the pitfalls and some "not very controversial" opinions of your own. The secret is to give the impression of knowledge while saying little.

Why do you want to work for an airline? Is this a temp job? Are you independently wealthy and care not about job security?

If you can find a copy of either of Mallach's books on decision support systems, they have a good introductory discussion of yield management in (IIRC, shouldn't be hard to find if this is wrong) Chapter 4.

Right, because the airline industry is going to disappear. Or because airlines are making so much money that yield management is becoming less important. Anyone who is good at any sort of DSS has a bright future. Airline yield management is a great way to get experience in the field.

As to the original question - graduating seniors aren't expected to know much. You're being hired for your potential, your ambition, and your ability to learn, not what you already know. The fact that you're looking for information is a great sign. Of course, the job would probably mean the end of your FT posting career. I suspect airlines don't like their yield management people talking with mileage maximizing people.

Good luck!

Thanks everyone. Ill check out the links you posted steve100 and thank you Efrem, I will consult Mallach.

da_guy: I dont think all civil aviation will cease to function because of the current state of the industry. If anything I am young (right out of college) and am more concerned with skill development for the industry and less so with longevity in any one company.

Again, thanks all,

Anc

I think a fondness for Hallucinogenic drugs is the best qualification for yield management positions

Hasn't David Spade already answered your question? There's only one thing you need to remember for your interview:

Agree that you should probably stay relatively high-level in your interview and not bore the interviewer(s) with detailed statistics/mathematics. Background knowledge in the theory and practice of yield management is great but I suspect they will ask you many "big picture" questions on how/why airlines make or lose money. Pricing and YM are only parts of the big picture. Expounding on the finer points of O&D versus leg based yield management won't win you as many brownie points as a solid understanding of the fundamentals of airline economics.

If you remember nothing else for your interview, one great piece of information to know and cite is: full flights are not always profitable ones!

While I wont tell you what airline I am interviewing with, I will tell you that I am a poli sci major, so I cannot bore them with econ details because I dont know them! I have a firm understanding of the industry (economically and politically) so it should be fine. Again thanks all.

Another question, what would a new entry into yield management and/or someone in loyalty programs marketing dept make per year? I have no idea but I would like to be prepared to give a ball park salary range. I figure FTers know best.

Just tell them that you favor no capacity controls on award seats.

I'm sure they'll love that!



Seriously, good luck with the interview.