Holding a master’s degree in business administration (MBA) is a calling card that has growing appeal to companies that are revving up to hire new recruits, according to the Corporate Recruiters Survey 2014.
About 80% of companies responding to the survey want to hire MBAs by the end of the year, an increase from 73% in 2013.
The annual survey by the Graduate Management Admission Council reflects hiring, salary and skill expectations from 600 employers in 44 countries in the Asia-Pacific region, Europe and the United States, according to GMAC.
About 50% of companies plan to hire master’s graduates in management, up from 45% in 2013; 45% want master’s graduates in accounting, up from 36% in 2013; and 44% favor master’s graduates in finance, up from 39% in 2013.
Communication skills are the most sought-after proficiency, ranking twice as high as managerial skills.
While many MBA graduates shoot for jobs with consulting firms, marketing and financing, the GMAC surveys show that the non-traditional industries such as energy and pharmaceuticals/healthcare may offer better job prospects, according to an article in Crain’s Detroit Business.
The 2013 GMAC survey of MBA graduates, for instance, found that of graduates who targeted energy/utility companies, 62% received job offers; in pharmaceutical/health care, 67%; and in manufacturing, 71%.
For graduates in consulting, 65% received job offers; in finance/accounting, 54%; and in products/services, 53%.
In 2014, the survey found about 90% of companies in the pharmaceutical/health care industry plan to hire.
Drug companies, such as Pfizer, Inc., and GlaxoSmithKline are moving toward streamlining manufacturing and research activities. MBAs can play an important role in how those two sides of the industry communicate, according to Stephen Munk, president of Ash Stevens, Inc., a company that makes ingredients used by drug companies.
“If you’re sending thousands of pills to millions of locations, things you learn in business school, like operations and JIT (just-in-time manufacturing) are really, critical,” said Munk, who was quoted in the Crain’s article.
Please Leave A Comment
Related posts:
Recent MBA Grads Enjoy Improving Job Market
Survey: Demand for Accounting Grads Higher Than Ever
Survey: 82 Percent of Graduates Said Having a Degree Helped Their Career
Study: 50 Percent of Companies Aren’t Ready for Transformational Change
Business is the Most In-Demand Major for Getting Hired, Says Survey