Monday, August 20, 2007

MBA hottest degree across the world: Study - TOI

MBA hottest degree across the world: Study

BANGALORE: Recruiters around the world are on a big MBA talent hunt. The UK is now paying the highest salaries for MBAs worldwide.

China is the hottest market with more and more MBAs joining Chinese companies. Asian students are among the highest GMAT scorers in the world. The Top MBA International MBA Recruitment and Salary Report 2007, made available to TOI, reveals these and other interesting trends of MBA education in 35 countries.

The survey is the most extensive and presents an unrivalled view of the World MBA recruitment market with responses from 489 companies worldwide.
"Hiring predictions from MBA recruiters suggest that MBA demand worldwide will set a new record in 2007. In most countries, the survey has shown that there is a rise in demand for the MBA course, specially among people who seek a career change or who wish to start business," says marketing director (India and Middle East) Biren Patel of Quacquarelli Symonds, the world's leading network for top careers and education which conducted the survey.

Surprisingly, industrial companies are hiring MBAs from a broader number of business schools than ever before. But it is the consulting and financial services which will account for 50% of MBA hires at many B-schools, even in the future.

Such is the demand for MBAs that in North America, where foreign students find it challenging to get H1 visas, recruiters are finding the ways to hire people. Many Western European countries are becoming hot spots for MBA recruiting.

The UK is at full employment, particularly, due to the implementation of the Highly Skilled Migrant Programme, the visa regime that is favourable to MBAs of any nationality.

Dominique D'Arcy of Manchester Business School says: "Increasingly, the MBA is becoming the mainstream qualification for recruiters in many Western European Countries as has been the case in the US for years."

Dubai, too, is a hiring hub. Companies there are seeking MBAs in large numbers. The study has shown that the demand will continue to grow in 2008. And there seem to be no imminent indicators of a possible drop in demand. Yet, the research has a word of caution: the supply of MBAs is not growing as rapidly and companies may not be willing to push salaries much higher.

Chris Higgins at Wharton says, "MBA candidates need to remain flexible about career aspirations."

But nothing best sums up the trend than what Graham Hastie from the London Business School says: "99% of the class 2007 had paid summer internships — a record for the school."

-Fd: Mohamed Yousuf