Business Master’s Grads Face A Tough Job Market In The U.S. — But Europe Offers Hope

With inflation still biting and hiring freezes persisting across sectors, business master’s graduates are confronting one of the most challenging job markets in years. Data from the GMAC Corporate Recruiters Survey 2025 shows a stark divide: while U.S. employers remain committed to hiring MBAs — with just 12% saying they have no plans to do so — a majority report no intention of hiring specialized business master’s graduates in 2025. 

Depending on the degree, anywhere from 55% (data/analytics) to 71% (marketing) of U.S. employers say they will not bring on these graduates this year.

In Western Europe, the outlook is more promising. More than three-quarters of employers there report plans to hire the same number or more graduate business talent compared to last year. Canadian firms are similarly upbeat, with most companies anticipating steady or increased hiring in 2025.

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REDEFINING VALUE AT PORTO BUSINESS SCHOOL

At Porto Business School in Portugal, Careers Director Ricardo Carneiro says his team has made it a priority to help students move beyond a fixation on titles and job functions.

“Our Career Services team is focused on helping students understand and articulate their transferable value — beyond job titles or functional expertise,” Carneiro tells Poets&Quants. “As traditional roles evolve due to automation and cost pressures, we work with students to develop a strategic narrative around their adaptability, critical thinking, and leadership potential. This includes redefining their professional identity around problems they can solve and outcomes they can drive, rather than roles they once aspired to.”

That reframing begins early and runs throughout the program. Porto has embedded career development across the learning journey, combining CareerOS, one-to-one coaching, and workshops on personal branding, storytelling, and resilience. “Our mission is not only to prepare students for today’s market but to empower them for long-term career sustainability in increasingly volatile environments,” Carneiro says.

Creativity is encouraged as a differentiator. Carneiro cites Porto’s emphasis on LinkedIn makeovers and career-pitch training, which help students stand out in digital-first recruitment processes. Mock interviews and role-plays with industry experts provide further practice. At the same time, Porto actively brokers connections, using CareerOS to facilitate personalized matchmaking between students and companies or mentors. These pairings are based not only on technical fit but also on broader aspirations.

The school also advises students to pursue niche certifications — in emerging areas like AI governance or sustainability metrics — to demonstrate curiosity and signal immediate relevance. Carneiro says such credentials, when combined with strong narratives, help students “position themselves as adaptable problem-solvers rather than just technical specialists.”

EMPLOYER EXPECTATIONS SHIFTING AT IMPERIAL

At Imperial Business School in London, Sarah Cook, director of employer relations, sees the proliferation of AI as a defining factor shaping employer demand.

“First and foremost, students need to have the confidence to use AI effectively,” she says. “At Imperial, AI is embedded within our provision within the Careers team — from dedicated upskilling, to the learning models our students use, and in the technical content provided by our faculty experts.”

Cook warns that employers don’t just want graduates who dabble in AI as a content-generation tool; they are looking for talent who can harness AI for data analysis, decision-making, and strategic thinking. Yet AI has also made recruitment tougher. “It has introduced significantly more volume into recruitment processes,” she says. To stand out, Imperial advises students to take advantage of project work, internships, and practical applications of their studies. Networking remains vital. “We encourage students to make themselves stand out to potential employers by becoming a recognized face, getting direct insights for applications, or, where appropriate, seeking referrals,” Cook explains.

She also notes a widening gap between North America and Europe. “The GMAC survey shows positive change for hiring trends in Europe, but this is still a slow change in a longer journey. The situation varies between sectors and regions, but we are seeing more green shoots in the tech sector, particularly in comparison to a more difficult post-Covid period.”

In specialized programs like finance, marketing, or analytics, Cook believes the differentiators are less about technical ability than about soft strengths. “The underappreciated skills employers find most challenging today — and therefore can be differentiators — are resilience, adaptability, and initiative,” she tells P&Q. Imperial’s skills framework is designed to help students identify these qualities and highlight them in their applications, she adds.

“Employers are still keen to see functional or industry experience,” Cook says. “Students can leverage their prior experience together with their studies to accelerate into new roles. But they are also looking for authenticity. Whatever role students take on has to support a consistent storytelling of ‘why you for this role.’”

MANAGING EXPECTATIONS IN FRANKFURT

At Frankfurt School of Finance & Management, Maren Kaus, director of career services, describes her team’s philosophy as both values-based and data-informed.

“Our career advisors work closely with students to understand not just their short-term goals, but also the underlying motivations — be it impact, growth, lifestyle, or compensation,” Kaus tells P&Q. “Using labor market data, alumni career paths, and current hiring trends, we help students assess the feasibility of their targets while identifying opportunities that align with their core values.”

That often requires recalibration. “Recalibrating doesn’t mean giving up — it’s often a strategic step,” she insists. A student aiming for a high-paying role in a global hub may discover more promising opportunities in a fast-growing sector located in a smaller market. The key, Kaus says, is to reposition ambitions without dampening them: “Ambition isn’t just about landing the perfect first job — it’s about building experience and progress over time.”

Alumni networks are central to this process. Frankfurt has built structured mentoring programs, career story sessions, and alumni panels tailored for students pivoting by geography or industry. “In particular, for students looking to switch geographies, we actively match them with alumni who have successfully navigated similar transitions,” Kaus explains. “These connections provide not just market insights and introductions, but also cultural and logistical guidance.” Alumni also help students articulate transferable skills when moving between industries.

AI is another area where Kaus sees a need for nuance. “We emphasize depth over buzzwords,” she says. “‘AI literacy’ on its own isn’t enough. Employers want impact stories. Did you use AI to automate business processes or improve decision-making? What frameworks did you use? What trade-offs did you consider?” Frankfurt encourages students to frame their skills as “AI plus” — combining industry expertise (in healthcare, finance, or marketing, for example) with technical awareness. “That hybrid positioning makes their profile more compelling and differentiated.”

See the GMAC Corporate Recruiters Survey here. 

DON’T MISS EMPLOYERS ARE STILL EAGER TO HIRE MBAs, GMAC FINDS — ESPECIALLY THOSE WITH AI SKILLS and DATA DIVE: 2024 MBA SALARIES, BONUSES & JOB PLACEMENT RATES AT 30 TOP-RANKED B-SCHOOLS

 

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