MBA Intern & Job Outlook Improving
Internships and job prospects for newly graduating MBAs are getting better and better.
The MBA Career Services Council today (Feb. 4) announced that 45% of business schools reported an increase in on-campus activity for full-time jobs last year. That was on top of a whopping 70% increase in 2011. Full-time job postings also continued to rise for most schools with 58% reporting more opportunities than a year earlier. And that, too, was on top of a 68% increase in 2011.
45% OF SCHOOLS ARE REPORTING AN INCREASE IN ON-CAMPUS RECRUITING THIS YEAR
And this year is shaping up as another great year for MBA recruiting. According to the study by the council, 45% of the responding business schools have experienced an increase in on-campus recruiting this year compared to the same time last year. Only 15% experienced a decrease.
The results follow earlier reports from both schools and the Graduate Management Admission Council of continuing improvements in the MBA job market. The MBA Career Services Council, an association of business school career services offices and companies who hire MBA students, released the findings in its Fall 2012 Recruiting Trends Survey. The study found that both on-campus recruiting opportunities and full-time job postings have increased for most schools worldwide. Schools were surveyed from Dec. 15 to Jan. 11. Some 76 programs responded to the survey, compared with 102 during late fall of 2011. The council said 55% of this year’s respondents were ranked among the top 50 full-time MBA programs.
OPPORTUNITIES RISING REGARDLESS OF A SCHOOL’S STATUS IN THE RANKINGS
Regardless of a school’s ranking, the council said, full-time, on-campus opportunities increased. For schools ranked first to 20th, 47% reported an increase with only 13% reporting a decline. For schools ranked 21st to 50th, 40% reported increases, with 20% down. Showing the expanding recovery in the economy, some 60% of responding schools ranked 51st to 100th reported increases with only 15% reporting a decline.
“The business schools participating in our survey report overall solid recruitment for full-time MBA positions and MBA internships this year, with over three-quarters of the schools reporting stable or increased on-campus recruiting compared to last year,” says These Mark Peterson, president of the MBA Career Services Council and director of graduate business career services at Iowa State University. “These results are encouraging signs that this year’s graduating class will see solid employment performance.
Increases in recruiting activity are occurring across most industries, with over 30% of schools reporting increases in: Consulting, Consumer Products, Financial Services, Energy, Pharmaceutical/Biotech/
When looking at company type, increases were seen within start-up, mid-size and Fortune 500 firms.
HALF OF THE SCHOOLS ARE REPORTING AN INCREASE IN INTERNSHIP RECRUITING
Internship recruiting has increased slightly compared with the same time last year, with 50% of respondents experiencing an increase in on-campus recruiting. 53% saw an increase in job postings.
The Consulting and Technology industries saw the largest increase in internship recruiting.
Schools indicated a number of innovative programs to assist students in today’s job market, including increased use of social media and online job profiles, personal branding initiatives, and more assistance to students who want to relocate in the form of career treks and travel subsidies. Advanced preparation has also continued for first year students, with schools educating students about career search strategies prior to entering the MBA program.
The council said that although the increase in full-time recruiting is not as strong as it was in Fall 2011, it continues to gain strength overall, indicating that recruiters continue to look to MBA programs to meet their workforce needs. Increases in intern recruiting indicate a multi-year trend which should indicate that the overall job market continues to improve and employers are anticipating strong growth in the years to come.
(See following pages for the full report and tables)