Hiring boom for MBAs in the New Year
A global survey conducted by the Graduate Management Admission Council has revealed that a majority of employers are willing to hire MBAs graduating in 2013. Read on for details.
Even as world economies are battling with uncertainty, 2013 promises to be a lucrative year for MBAs graduating in 2013.
According to a survey conducted by the Graduate Management Admission Council among 201 employers, 76 per cent of them are keen to hire new MBA graduates in 2013.
The 2012 Year-End Poll of Employers further revealed that of the employers planning to hire MBAs in 2013, 56 per cent plan on offering a base salary that keeps pace with inflation (43 per cent) or exceed it (13 per cent).
Comparatively, only 69 per cent of these employers hired fresh graduates in 2012.
"Employers recognise that employees with graduate business degrees are a wise investment when times are uncertain, and they need talent that not only brings skills, but agility to meet the changing demands of these times," said Dave Wilson, president and CEO of GMAC, the administrative body in charge of the Graduate Management Admission Test exam for graduate management programmes worldwide.
Meanwhile, hiring projections for MBA professionals with work experience did not show any marked improvement.
Projections for experienced direct-from-industry hires (86 per cent, up from 83 per cent hired this year) and new bachelor's recipients (78 per cent, down from 80 per cent this year) remained relatively stable.
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The poll also found that the demand for new graduates with graduate degrees in other business fields is smaller, but growing.
Some of the other findings of the employer report are as follows:
- 43 per cent plan to hire graduates who hold a masters in management (up from 33 per cent)
- 40 per cent intend to hire graduates who hold a masters in accounting (up from 32 per cent)
- 39 per cent expect to hire graduates who hold a masters in finance (up from 32 per cent)
- 46 per cent plans to hire other graduates holding a specialised master's degree in business (up from 34 per cent)
For those looking for internships, the market is equally lucrative, revealed the report.
Approximately 85 per cent of the employers polled plan to offer student internships in 2013, of which 70 per cent plan to use undergraduate interns and 65 per cent are keen on employing MBA interns.
Although fewer companies offer internships to other masters-level students, those that do are likely to offer as many or more internships in 2013 than they did in 2012.
Between 85 and 97 per cent of companies that planned to hire across each candidate type in 2012 actually did, and most companies hired as many or more employees than they planned for each candidate type.
The 13th annual Year-End Poll of Employers includes responses from 201 employers at 182 companies worldwide, including 45 Fortune 500 companies.
Illustration: Uttam Ghosh