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QS TopMBA.com Salary & Recruitment Trends: 2009 Report

5. Short-term MBA recruitment trends 2009 Demand for MBAs The forecasts for 2010 remain cautious, with recruiters anticipating overall MBA demand to remain at 2009 levels. In particular, financial services expects to increase MBA demand by 5% next year and the consulting sector expects demand to be very similar to this year. Technology expects a -5% fall and general industry also expects a reduction in demand by -6%. These trends suggest a lagged effect from the recession impacting on hiring forecasts and we expect the actual 2010 hiring trends to be slightly more positive than this. Percentage change in MBA opportunities by industry sector worldwide in 2009

It is necessary to express words of caution. A recession as seen between 2001 and 2004 is not in the cards, but with continued falling house prices, a growing deficit in the USA, and rising energy costs, a continued fall in MBA demand in North America in 2010 remains a possibility. This uncertainty is reflected in fewer MBA employers in North America responding to this year’s survey. Chris Higgins at Wharton cautions “MBA candidates need to remain flexible about their career aspirations.” He adds “I started working at Wharton in April 2001, just in time to experience the dot.com and consulting crash. Demand for MBAs has been great in recent times, but it is cyclical and you never know what is around the corner.” Some young professionals try to time their MBA so that they graduate in time to benefit from the next boom. Experience suggests that such forecasting is difficult and the best time to take an MBA is when one feels ready personally, irrespective of economic conditions. An MBA should be viewed with a long-term career perspective.

Demand for MBAs by region US & Canada

Source: QS TopMBA.com International Recruiter Survey 2009

QS Global-Workplace (www.global-workplace.com), a jobs and careers site operated by QS on behalf of many of the world’s top business schools saw 8,950 (10,277) new MBA jobs added to the site in the twelve months August 2008 to July 2009. Of these, the most popular sectors were; 26% were in Financial Services, 19% in IT, 18% in Consulting and 10% in High tech. Dan Beaudry of QS Global-Workplace says, “...the big demand for MBAs in recent years has come from the service sector – banks and consultancies – not just the big name firms, but also many smaller organisations. In 2009, lesserknown MBA recruiters have picked up some of the slack as financial services demand has dropped off. But North America has been severely affected in this recession, particularly demand for international students. Many of them have sought employment in other countries where their prospects are better.”

12 Copyright © 2009 QS Intelligence Unit

In the USA, MBAs most struggling to find work have been those with little or no work experience, those looking for a major career change or international students who cannot find a corporate sponsor. Boston University feared only 50% of graduates would be in employment three months after graduation this year, but the reality is that over 85% have found employment, says Hayden Estrada, Associate Dean. In the USA, the largest MBA employment market, recruitment into financial services is expected to show a strong recovery in 2010, consulting should remain buoyant, but demand in industry and technology is still looking vulnerable, as companies take time to shake off the effects of the contraction in global trade, according to the TopMBA.com Recruiter Survey. Dan Beaudry, who manages employer relations for QS TopMBA and Global-Workplace in the USA, reports that “Demand for MBAs in the US was badly affected in 2009, with many MBA employers re-assessing their MBA hiring needs downwards.” He adds “The outlook for 2010 is better and we do not expect many more drastic cuts. If consumer demand picks up and confidence returns, employers might re-assess their plans upwards during the spring. But

QS TopMBA.com Salary & Recruitment Trends 2009 Report  

QS TopMBA.com Salary & Recruitment Trends 2009 Report

QS TopMBA.com Salary & Recruitment Trends 2009 Report  

QS TopMBA.com Salary & Recruitment Trends 2009 Report

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