B-schools Optimistic for Continued MBA Job Growth
Increased Hiring Across Diverse Sectors Signals Improved Outlook for 2011
81% of b-schools predict an increase in internship opportunities over last summer according to new findings by the MBA Career Services Council.
The MBA Career Services Council, an association of business school career management offices and companies who hire MBA students, released the findings of its Fall 2010 Recruiting Trends Survey earlier today. The findings show that on-campus recruiting opportunities have increased for most schools worldwide. Additionally, some schools have experienced increased recruiting activity across all industry sectors. These results reflect increasing optimism in the expectations of career services professionals, the majority of whom predict continued growth in total job opportunities in 2011.
Nicole Hall, President of the MBA Career Services Council and Executive Director of Alumni and Career Services at the Graziadio School of Business and Management at Pepperdine University, says, “B-schools have adapted to help students secure jobs as evidenced by responses from 64% of schools indicating an increase in direct referrals of MBA candidates to employers. The practice of aggressively promoting graduates to fill current openings at target companies is certain to continue even when the economy fully recovers as employers benefit through streamlined placements and students gain from connections to companies of interest.”
The survey findings show, at a summary level, that 63% of respondents report an increase in on-campus recruiting for full-time jobs. At the same time last year, 79% of respondents reported a decline in recruiting. Similarly, the findings also show that 70% of respondents report an increase in full-time job postings versus last year, where 48% of respondents reported a decline in these job postings. However, 26% of respondents report overall recruiting opportunities are flat when compared with last year.
These increases in recruiting activity are occurring across most sectors. Over 20% of respondents reported these increases in consulting, consumer products, financial services, energy/petroleum, government, manufacturing, healthcare/pharma/biotech, and high technology. Conversely, over 20% of respondents also reported decreased recruiting activity in financial services, manufacturing, and real estate. Compared with the same survey conducted in April 2010, hiring improved most in the consulting and finance sectors. The changes to recruiting activity noted here are consistent with broader economic outcomes.