MORE FINDINGS: ANALYTICS GRADS IN HIGH DEMAND
It may not be news, exactly, but GMAC’s 2018 recruiter survey shows that data analytics degree holders are, in fact, highly sought after. Overall, 71% of responding employers say they plan to place recent B-school graduates into data analytics roles in 2018, which puts data analytics among the top job functions employers will place new grads into this year, alongside business development (74%), marketing (70%), and finance (69%).
For the first time this year, GMAC’s survey collected trending data for Master of Data Analytics hiring and found that about half of responding companies (52%) plan to hire Master of Data Analytics grads in 2018, compared with 35% that hired them in 2017. The survey found that hiring demand for data analytics grads is strongest among Asia-Pacific employers, among whom 62% plan to hire in 2018. About half of employers in Europe (50%) and Latin America (47%) plan to make similar hires.
“As is the case with other program types, larger companies are more likely than smaller companies to have plans to hire Master of Data Analytics talent in 2018,” reads the GMAC report, written by Gregg Schoenfeld, senior director of research. “A majority of Fortune Global 100, 500, and publicly traded companies have 2018 Master of Data Analytics hiring plans. Hiring demand for recent Master of Data Analytics graduates is strongest among employers in the technology (70%), health care (61%), manufacturing (55%), and consulting (54%) industries.”
EMPLOYER EDUCATION ASSISTANCE ON THE RISE
In other survey findings, most U.S. companies (61%) offer financial assistance for employee education and talent development. Among those companies, 2 in 3 (66%) have increased their budgets for employee education and talent development compared with five years ago.
A new benefit asked about in this year’s survey is student loan repayment assistance — deemed the “hottest employee benefit of 2017” by Forbes. Repayment assistance is seen by employers as an effective way to attract and retain top millennial talent. The survey found that 9% of U.S. companies currently offer it as a part of their overall benefits package.
Internships meanwhile, are increasingly seen as paths to jobs: GMAC’s survey finds that most employers plan to bring on MBA interns in 2018. MBA internships are most prevalent in Asia-Pacific and the U.S., where 65% and 62% of employers plan to offer them, respectively. “Internships continue to be an avenue to jobs for many business school graduates,” Schoenfeld writes. “Internships provide a way to understand a company, the culture and expectations and remain a good opportunity to obtain permanent positions.”
OUTLOOK MIXED FOR MIMs, MACCs & MFINs
Some key findings pertaining to non-MBA graduate business degrees:
- The majority of companies outside the U.S. plan to hire Master in Management (MiM) talent in 2018, including around 7 in 10 companies in Asia-Pacific (73%), Europe (72%), and Latin America (69%). Among U.S. companies, 39% plan to hire MiM graduates.
- Hiring projections for Master of Accounting have held steady among European employers, but projections among Asia-Pacific employers are notably down elsewhere in 2018: 44% of European companies, 43% of U.S. companies, 40% of Latin-American companies, and 37% of Asia-Pacific companies plan to hire recent Master of Accounting graduates in 2018. By world region, Latin-American companies have the largest increase between their 2017 actual hiring rate (25%) and 2018 projected hiring rate (40%).
- The hiring outlook for Master of Finance talent is “flat” among European employers compared with last year, and down slightly among Asia-Pacific and U.S. employers. “Two-thirds of Latin-American companies (67%) plan to hire Master of Finance talent — the greatest share of any world region,” Schoenfeld writes. “Most European companies also plan to hire Master of Finance graduates this year (57%).”