Hire Expectations: Job Outlook from Employers and Students
Key insights from the latest employer and student GMAC research surveys were shared in a recent webinar, Hire Expectations 2013. If you missed the chance to tune-in live, you can still watch the archived recording and download the slides to gain valuable information about aligning student career expectations with those of corporate recruiters.
GMAC researchers Michelle Sparkman-Renz and Rebecca Estrada spoke about the hiring landscape for MBA and master’s talent from both the student and employer views of the marketplace, and what career services and admissions professionals need to know to help students manage their career expectations. "Matching expectations with reality depends on access to solid data about the job market, understanding student perceptions and motivations, and then communicating these insights with students. Hundreds of schools partner with us to gain insights and benchmark the results," said Michelle Sparkman-Renz, director of GMAC research communications. The webinar discussion was based on two of our recently released surveys, with responses from more than 5,300 graduating business school students, as well as 935 employers.
Recruiters expressed eagerness for schools to reach out to them and provide multiple ways to build their brand on campus.
─ Rebecca Estrada, Survey Research Manager, GMAC
Career Services offices are one of the best job search resources for students in obtaining offers prior to graduation, as they provide multiple opportunities and methods for students to connect with potential employers. Two-thirds (67%) of companies plan to make a recruiting visit on campus at 14 business schools on average in 2013, consistent with last year’s findings. “This year, about three-quarters of employers told us that they have plans to actively recruit from business schools as well as taking advantage of methods that may not require a campus visit. Recruiters expressed eagerness for schools to reach out to them and provide multiple ways to build their brand on campus. They seek opportunities to be a guest lecturer, participate in a seminar, or serve as mentors,” said Rebecca Estrada, survey research manager for the annual Corporate Recruiters Survey.
Résumé & What's Important to Get an Interview: Résumés have to be customized and compelling. A candidate may only have six seconds to grab the attention of a recruiter. Key elements the recruiter will look for include a candidate’s track record (92%) and technical and/or quantitative skills (75%).
During the Interview: Top job skills and competencies employers look for when hiring business degree-holders.
Landing the Offer: 60 percent of class of 2013 graduating students worldwide received job offers, with an average of two job offers each. Their most improved skills from their business education demonstrate a blend of soft skills, integrated reasoning skills, and business knowledge.
Other Webinar Highlights
- Nontraditional sectors like health care/pharmaceuticals and energy/utilities report the greatest hiring demand worldwide for MBA talent in 2013.
- A student’s engagement in activities on campus will contribute to the learning experience as well as their job search. Class of 2013 business school graduating students who were involved in a range of activities boosted their chances of having early job offers.
- An international student may face different hiring scenarios than domestic students. Globally, 24 percent of employers reported they have specific plans to hire recent business school graduates that need work visas this year. An additional 31 percent of employers are willing to do so for the right candidate.
“Having worked on campus in both admissions and career services roles, I know a successful job search goes beyond career services and involves the entire student life-cycle team. Professionals in a range of functions from admissions to student services, faculty and alumni services can play a huge role in connecting students with employers and helping prepare students for their future employment,” added Betsy Kacizak, senior manager in professional education and training at GMAC.
Speaking of career services, GMAC staff will share details on the new ReflectTM soft skills tool, ideas for collaboration with admissions teams, and research on hiring trends at panels during the MBA CSC Global Conference on June 25-28 in Washington, DC. Stop by our booth or join us at a session. Follow our conference notes at #MBACSCWashDC13.