Rosy Outlook For MBA Grads

What to MBA rankings mean to you?The GMAC 2015 Corporate Recruiters Survey has found a positive hiring climate for new MBAs, with demand increasing worldwide.

Some highlights from the report:

•  Worldwide, 84 percent of recruiters plan to hire MBA graduates in 2015, up from 74 percent in 2014.

•  75 percent of recruiters in Asia-Pacific, 56 percent of European recruiters, 75 percent of Latin American companies, and 92 percent of US recruiters plan to hire MBAs this year, all increases from 2014.

•  Starting salaries for MBA hires are also up at more than half of companies internationally.

•  Along with MBA hiring, hiring of new graduates from Master in Management, Master of Accounting, and Master of Finance programs is up over last year.

•  This year’s report also included analysis relating to massive open online courses—MOOCs— that indicates some skepticism on the part of corporate recruiters: only 15 percent of companies globally and 8 percent in the United States consider MOOCs an alternative to graduate management education.

See more details and download the full report here!

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What are recruiters really looking for?

recent Businessweek article highlights the top skills job-seekers need to make the greatest impression on headhunters and future employers. What’s not high up on the list? Involvement in startups. According to the recruiters surveyed in BW’s 2014 b-school rankings, employees who are entrepreneurial thinkers and “cosmopolitan self-starters” aren’t as important as employees who can “write clean e-mails, work in a team, and think analytically.”

Businessweek’s polled 1320 MBA recruiters from various industries, asking them to choose up to five skills or assets from a list of 14. Here’s what they found were most important (the top three) and least important (the bottom three):

 68% — Good communication

• 60% — Analytical thinking

• 55% — Ability to work collaboratively

• 15.2% — Industry-related work experience

• 12.3% — Global mindset

• 8.9% — Entrepreneurship

See BW’s chart for more details:

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Recruiters said that the following skills/assets were the most difficult to find among job applicants:

• 47.3% — Strategic thinking

• 44.4% — Creative problem-solving

• 42.2% — Leadership skills

Here’s the BW chart on that:

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MBA Hiring Expected to Increase in 2015

MBA hiring expected to increase in 2015

72% of employers plan on hiring MBA graduates in 2015

GMAC’s 2014 Year-End Employer Poll

Here are some highlights from GMAC’s 2014 Year-End Employer Poll. Spoiler: It’s good news!

• 169 employers from 33 countries were interviewed. This is a relatively small sample.

• Overall, the job market remains strong for 2015 b-school grads.

• 90% of employers that expect to hire b-school graduates in 2015 expect to maintain or increase the number of job openings compared with hiring in 2014.

• 72% of employers plan on hiring MBA graduates in 2015, compared to 69% in 2014.

• The majority of employers (54%-74%) plan on increasing starting salaries at or above the rate of inflation in 2015.

• 64% of employers say that their companies are expanding and that they plan on hiring more business school graduates.

• 87% of employers expect to offer internships to students. Usually these internships will go towards bachelor’s graduates (73% of employers). This is followed by MBA grads (55% of employers).

• 96% of employers agree that business school graduates create value for their companies.

As usual, the greatest hiring demand is for MBA graduates; though Master in Management grads are projected to experience the largest increase in hiring.

GMAC Hiring report 2015 projections

According to GMAC’s Survey Research Manager, Rebecca Estrada Worthingon, “The solid job prospects for b-school talent seen over the past several years and again reflected in this poll, give prospective students good reason to consider pursuing these degrees as part of a strategy to drive their career goals….Our data show that even in the depths of the recession, business and management degrees can provide a measure of job protection and opportunity. Today, in a recovering global economy, management degrees can be a powerful driver of confidence and provide fuel for an individual’s career growth.”

See the 2014 Year-End Poll of Employers Report and the GMAC press release for more details.

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25 Top MBA Employers According to MBA Students

B-school students were surveyed on where they want to work most by the Universum USA research firm. Let’s see how this year’s results varied from last year’s and the year before:

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Much as with school rankings the rankings of top employers change slowly. #1 and #2 are unchanged for the last three years with Google claiming the top spot and McKinsey #2. For most of the top fifteen, these rankings mostly move around the deck chairs, but the players stay on the same deck.

Still there were a few winners and losers in the Universum ranking. The winners include Price Waterhouse, which jumped a whopping 13 spots from 2013 to 2014 (27 to 14) and that was on top of a two-spot jump from 2012 to 2013. Ernst & Young soared from 33 in 2013 to 23 in 2014, also following up a two-point gain the preceding year; Accenture climbed from 29 to 22; and Deloitte skipped up from 9 to 7 after moving up from 11 in 2012. Apparently the consulting and accounting firms are becoming more popular among MBAs. In fact the only consulting firm that dropped was BCG which went down an insignificant one notch from 5 to 6. Another noticeable gainer is Morgan Stanley which flew from 31 to 19, but that change was really just a reversal of its equal drop the preceding year.

The losers? Starbucks sank from 15 to 24. IBM dropped from 19 to 25. BMW declined a whopping 13 spots from 23 in 2013 to 36 in 2014.

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2014 B-School Grads Flock to Jobs in Tech, Healthcare, and Manufacturing

A GMAC press release presents the results of the most recent global student exit survey (of 3049 grads from 111 schools who responded in February and March), revealing that those students seeking jobs in traditional fields like consulting, products/services, and finance/accounting were more likely to have a difficult time securing a position early in the hiring cycle that those looking for work in smaller, less traditional fields such as technology, manufacturing, and healthcare.

Check out the GMAC press release.

Image from the GMAC press release

Here are some highlights from the report:

 • 57% of 2014 business school graduates (MBA and others) received at least one early job offer, down 3% from last year, but up 25% from 2010.

 • 62% of students were involved in the job search; 4% were planning on pursuing entrepreneurship or were already self-employed.

 • There was an 80% median salary increase (over their pre-degree salary) for those who received job offers, up 7% since last year.

 • 61% of job seekers in the tech industry received job offers, accounting for 15% of the total number of grads who received early job offers; this is up since last year’s 9%.

 • Students in the manufacturing and healthcare/pharmaceuticals industries had the greatest success rate landing job at 74% reporting at least one job offer, and accounting for 7% and 5% respectively of all early offers.

 • 27% of career changers who received job offers were in the consulting.

 • 21% of all job seekers who received job offers were in consulting, up slightly since 2010 (20%).

 • 26% of all job seekers who received job offers were in the finance/accounting sector, up since 24% last year, but down from 2010’s 30%.

 • 62% of graduates in the government/non-profit sector received early offers, accounting for 5% of all job seekers who received job offers.

The following stats come from the Financial Times article on the subject, “Technology companies become magnet for MBA students”:

 • At London Business School, more graduates received job offers at tech companies than at financial institutions. Eleven class of 2013 grads landed jobs at Amazon, while Citi hired only eight. Seven grads were recruited by Google, and only five received job offers from HSBC.

 • In 2013, Stanford GSB sent more grads to tech companies than to banks for the second year in a row – 32% in 2013 went into technology, which followed 24% in 2012 and 13% in 2011. Of those who headed to tech companies, 40% went to small and medium-sized companies, 40% went to large companies, and 20% went to startups.

According to the FT article, a number of factors are responsible for this monumental shift. Steve Dalton, Duke Fuqua’s senior associate director of MBA student services, reports that promotions and job security, two previously high scoring advantages for the banking industry, are on the decline, making alternative fields more attractive. But, according to David Morris, LBS career services’ head of corporate sectors, in explaining tech’s growing and banking’s declining popularity, money’s not the main draw – “People are excited about the company and the product – that’s the main driver, not the money,” he says.

You can read more about the results of the GMAC survey in the Poets & Quants article, “Job Offers Up In Tech & Healthcare.”

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