Article has been reposted from BizEd magazine, an AACSB International publication for the business education industry. Visit: www.bizedmagazine.com to learn more about the publication.
Corporate trainer Training
the Street (TTS) finds that the vast
majority of MBA graduates are still
receiving competitive job offers,
despite their increasing concerns
about employment prospects. TTS’s
third annual hiring survey, which
was completed by more than 300
MBAs from 25 programs, shows
that 10% of respondents are
less optimistic about their job prospects
than a year ago. That pessimism
arises even though 94% have been invited for at least one
first-round interview, 78%
have received at least one offer, and
50% have received multiple
offers. In 2011, those numbers were
91%, 72%, and 41%,
The largest number of respondents, 49%, note that they have been recruited by major investment banks. Thirty-nine percent say they have been recruited by consulting firms, and 36% by boutique advisory firms. Positions at global financial institutions are still in high demand, with 27% of respondents favoring them as top choices.
In other survey findings, 53% of respondents indicate they obtained positions through campus recruiting, 21% through independent job searches, and 18% based on personal references. Respondents believe the most important factors in securing a job are interpersonal skills (29%) and industry expertise (26%). Forty-seven percent expect their starting salaries to be in the 100,000 USD to 125,000 USD range--which might be why only 7% are dissatisfied with their offers of employment.
Stable Market for MBAs
The MBA job market is stabilizing and more companies are recruiting for full-time positions compared to a year ago, according to research by the MBA Career Services Council. In addition, more alumni have begun to hire their alma maters’ graduates as a result of schools’ efforts to engage past students.
The MBA Career Services Council released the findings of its Spring 2012 Recruiting Trends Survey this summer. The findings show that both on-campus recruiting opportunities and full-time job postings have increased for most schools worldwide. Recruiting has slowed slightly compared with previous years, but only 11% note a decline in recruiting activity.
Survey findings show that 51% of respondents see an increase in on-campus recruiting for full-time jobs, while 69% see an increase in full-time job postings. Increases in recruiting activity are occurring across most sectors, with consulting and technology showing the largest increase. Financial services and government showed the largest decrease in full-time recruiting activity. For more information, visit www.mbacsc.org.
Salaries Rise for Accountants
Accountants’ average total compensation held steady last year, increasing 0.9% from 128,486 USD in 2010 to 129,591 USD in 2011. Those figures come courtesy of the 23rd Annual Salary Survey released by IMA, the Association of Accountants and Finance Professionals in Business, and published in Strategic Finance magazine.
More respondents reported a salary increase in 2011 than in 2010, and the average amount of the increase received was greater, according to the survey. The year 2011 saw 4% more IMA members with a raise: 70% versus 66% in 2010. The average salary increase for these members was 6,135 USD, compared to average increases of roughly 5,700 USD during each of the last three years. More information can be found at www.imanet.org.