There is a good news for MBA graduates, as there are corporate massive MBA hiring plans for robust employment opportunities for them. According to the Corporate Recruiters Survey report released by Graduate Management Admission Council (GMAC), the enlisting of MBA stays solid and about 81 per cent of companies are planning to hire MBA graduates this year.
MBA Career Services and Employer Alliance (MBA CSEA) partners with GMAC for the Corporate Recruiters Survey. According to the 17th annual overview report, the GMAC 2018 Corporate Recruiters Survey report about 52 per cent of companies are also planning to build MBA starting base salaries this year. Over globe, the MBA graduates are getting a higher pay command comparative to other bachelor degree candidates and direct hires from Industry.
In the United States, the projected median base initial salary for MBA graduates is US$105,000 (around Rs. 71.40 Lakh), contrasted to US$85,000 for direct-from-industry new hires and US$65,000 for bachelor’s degree new hires. When compared to last year’s enlisting of MBA graduates there is project slight decline in US and Europe hiring plans whereas it is same as previous year for Asia-Pacific region.
Sangeet Chowfla, the GMAC President and CEO believes that “In the course of recent years we have followed positive patterns in the hiring of MBA and business master’s graduates. Graduates are commanding compensation premiums and companies are increasing starting salaries. The softening in the intent to hire numbers for the US and Europe reflects the global economic growth numbers we are seeing, and the prevailing political and student mobility issues. In the Asia Pacific region, hiring projections have remained strong. From the overall analysis, we see that hiring of MBA graduates is getting strong gradually, but we are seeing the mix shift geographically.”
“The GMAC survey reflects MBA CSEA’s recent Recruiting Trends Survey, where 68% of schools indicated a decline in hiring for international full-time MBA students compared to the same time last year,” said Jamie Belinne the Assistant Dean at Bauer College of Business at the University of Houston, and President of the Board of Directors of the MBA Career Services and Employer Alliance (MBA CSEA). And because of this many schools are more likely to create new connections with the employers in Student’s native countries and promoting a global job search.
Outcome of GMAC Corporate Recruiters Survey Report
Hiring International Talent
As per the survey findings, the interest of US and Europe employers to hire international talent is slightly reduced this year compared to that of last year. 47% of US companies plan to or are willing to hire international talent in 2018. 65% of European employers are willing to hire international talent in 2018.
Due to some quite changes to visa and immigration regulations (even though H1-B visa rules haven’t yet changed but they might change in upcoming years), thus there is a wait and watch the situation in hiring from those business schools.
As per GMAC President and CEO, the jobs in US market are solid and the US employers are constantly trying to best fill their jobs with the strong talent.
Higher Demands of Data Analytics
Gradually the demands for Data Analytics has increased, about 71 per cent of US employers are interested in current Data Analytics graduates. The percentage of companies hiring masters of data analytics has increased if compared to last year, it was 35 per cent last year which is currently 52 per cent. The Survey also find out that the demand for Master of Data Analytics graduates is strongest among Asia Pacific employers which are 62 per cent. Latin America 48 per cent and Europe 50 per cent of companies are planning the similar hirings.
Support for Employer education
Nowadays companies are offering support to employee’s education and to his talent development. Also, companies have increased their budgets for employee’s education and talent development sections. Appending these they also have loan repayment benefits. To attract more employees they have deemed the “Hottest employee benefit of 2017” by Forbes also. US companies currently offer it as a part of their overall benefits package.
Internships the Key For Permanent Jobs
Internships provide a way to understand a company, the workplace, gives experience and provides a good opportunity to obtain permanent positions. 65 per cent of Asia Pacific employers and 62 per cent of US employers are planning to offer graduates the internships so that it becomes easy for employers and graduates to understand their jobs more efficiently.
Opportunities for MiMs, Maccs & Mfins
39 per cent of US companies, 73 per cent of Asia Pacific employers, 72 per cent of Europe Companies, and 69 per cent of Latin American companies plan to hire MiM (Master in Management) graduates in 2018 which shows the higher requirements of MiMs graduates.
For Masters of Accounting (MAccs) postgraduates, Latin American companies have the largest increase between their 2017 actual hiring rate (25 per cent) and projected hiring rate (40 per cent) in 2018. The projection among Asia-Pacific employers are notably down in 2018 and Europeans were still at their earlier projections. 44% of European Companies, 40% of Latin American Companies, 43% of US Companies, and 37% of Asia-Pacific companies plan to employ recent Master of Accounting graduates in 2018.
Master of Finance (MFins) postgraduates feel the dip in Asia-Pacific and US employers, but 57 per cent European Employees and 67% of Latin American Companies are planning to hire MFins graduates.
The Corporate Recruiters Survey conducted by the GMAC, together with survey partners MBA Career Services and Employer Alliance (MBA CSEA) is responded by 1,066 employers in 42 countries worldwide who work directly with participating business schools. This survey was conducted in February and March 2018 and it included employers of 42 different nations and who are a part of business schools.
The next companion report regarding skill sought by employers will be published in July by GMAC.
Here you got the details of Corporate Recruiters Survey report released by Graduate Management Admission Council (GMAC). Please post your Feedback or Comments regarding this article, in below comment box.
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