A survey of employers conducted by the Graduate Management Admission Council (GMAC) has found that graduates of MBA programmes and other Masters degrees related to business could find their job prospects improve in 2012.
Every year the Graduate Management Admission
Council (GMAC) canvasses companies and organisations throughout the world about
job prospects and salaries for those with business-related degrees. The most
recent study consulted 216 companies and organisations and found a notable
increase in those planning to hire recently graduated management students in
the coming year. Nearly three-quarters of the companies surveyed plan to hire
MBAs in 2012, up from 58 per cent in 2011. Nearly four times as many companies
are planning to increase the number of MBAs they hire in 2012, while more than
half of employers expect to recruit people with a Masters in management or
another specialised subject. Overall, there may also be more jobs out there for
business school graduates. The survey reveals that companies plan to boost the
number of positions available in 2012. The barometer is rising for remuneration
too: 32 per cent of companies aim to increase salaries for MBAs joining them,
and 65 per cent are planning to keep starting salaries at the same level as
2011.
"These figures bear out the fact that, in
recessionary times, you can only cut costs so far," explains Dave Wilson,
CEO of GMAC, talking from its headquarters in the USA. "What we are seeing
in the marketplace here, and I suspect in Europe also, is that companies have
cut as far as the bone and can go no further. As they start to grow and retool,
they will need to bring in the best possible talent. That's where the MBA and
Masters graduates become particularly attractive in providing exceptional
players who can come in hitting the ground running. If you can bring someone in
on 3 January who starts being productive immediately, it makes sound economic
sense. While much of the world grapples with economic uncertainty, our survey
shows there is cautious optimism in the market that we are starting to come out
of the economic downturn. When that happens, you have to have players who are
going to grow and thrive with that market. If hiring projections for this
coming year remain robust, the class of 2012 can look forward to entering a
markedly improved job market when they graduate."
Although the majority of the companies responding
were based in the USA, Wilson believes the survey still has value for graduates
applying for jobs in Europe. "The jobless recovery in the US is starting
to happen and companies are looking to grow. It's true that the US is a little
more optimistic than Europe, yet many of the American companies surveyed
recruit worldwide. I also feel upbeat about the European job scene too."
The view from a major recruiter of graduates in the
UK appears to support Wilson's level of optimism. Paul Stephenson, graduate
recruitment partner at the accountancy and professional services group
Deloitte, explains: "The 2011/12 recruitment season has been a positive
one for us and the firm's potential recruits. During the downturn, Deloitte's
hiring targets for graduates stayed at approximately the same level and over
the past two years have increased to 1,200. We offer careers in 21 offices
across the UK and have seen an increase in applications."
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