Good News for MBA Aspirants; More Companies Will Hire them in 2014

More companies plan to hire business school graduates in 2014 compared with the previous few years, said a global survey of employers.

Some 80% of business school recruiters plan to hire Master’s in Business Administration (MBA) graduates in 2014, up seven percentage points from last year and 30 percentage points from 2009, when just half of employers hired MBAs, according to Graduate Management Admission Council (GMAC) that conducts GMAT examination.

The 13th annual Corporate Recruiters Survey of 565 employers from 44 countries was conducted in February and March by GMAC. “More companies in all sectors and across the world plan to hire business school graduates, with projected hiring rates the highest for all degree types since the great recession started in 2009,” said Sangeet Chowfla, president and chief executive of GMAC. “This survey shows that as the economy improves, employers see MBAs as a good investment into their future.”

Though the survey did not give country-specific details, it said some 83% employers in Asia-Pacific, 61% of European employers, and 86% of US employers plan to hire MBAs this year.

During the previous placement season in India, campus hiring grew in tier-I institutions like Indian Institutes of Management (IIMs), but was subdued in other categories of institutions.

The optimistic hiring outlook for MBAs and other Master’s-level business graduates comes as fewer companies are focused on overcoming economic challenges. Companies focused on growth and expansions are more likely to have improved hiring plans, GMAC said in statement.

“The upbeat forecast echoes the general decline in the percentage of companies reporting a focus on overcoming economic challenges, from 58% in 2009 to 25% this year, as well as reducing costs, from 66% in 2009 to 45% this year,” the survey said.

GMAC said out of several key requirements such as communication, managerial knowledge, teamwork, leadership and technical skills, employers said that communication skill is the most important one they seek in new hires, on average twice as important as a candidate’s managerial skills.

Source: Livemint and The Wall Street Journal