Last Friday Brunel Business School students had a change to meet with some inspiring speakers as part of the Next Step event. Speakers including Mike Holmes from the QS TopMBA Careers, Daniel Callaghan from MBA and Company and Prof Amir Sharif, the Brunel MBA Programme Director, shared their findings on the MBA recruitment market.
Mike presented to the students and alumni a recent research conducted by the QS on the graduate market to find out how MBAs are doing in the job market. The good news was that 2011 saw a 36 percent growth in the demand for the employment of student with MBA degrees in the global market. In the UK this figure was only slightly lower at 34 per cent.
Employers are looking for more experienced MBAs preferably with international experience combined with interpersonal skills. MBA with 3-5 years experience remain in highest demand with an increase in demand for graduates with over 8 years experience. It is believed that in time of a recession people are less likely to take a chance with inexperienced MBAs.
MBA salaries have improved slightly in 2011 after the last recession and MBA alumni are able to command the median salaries as per the report in companies with £100 million turnover or more, as they are looking for much higher level of commercialisation. People want “a doer” with companies saying that they want their MBAs to be able to do jobs independently, and hit the ground running with a minimum learning curve.
Daniel Callaghan from the MBA and Company contributed by adding that there is still a difference in the perception of MBA brands. Employers are very brand conscious but at the same time once the applicant gets in front of the company it is a more equal playing field. Work experience is also very important.
The speakers recommended that in order to increase their employability as an MBA graduate students do their research about the company before applying and where possible learn to use the specific tools they will be required to use on the job.
It is important to showcase what extras the students have done during their MBA – participating in or chairing clubs and societies, organising student extra curriculum activities and highlight to their future employer all these “nice-to-haves”.
There was a consensus on one more thing with our speakers: no question about it – MBA does pay!