| | After several sluggish
years, the job market
for MBAs is
strengthening rapidly
and is set for dramatic
improvement during 2005,
says the latest
Corporate Recruiters
Survey sponsored by the
Graduate Management
Admission Council
(GMAC).
The improved job
market for MBAs is
largely a result of
greater confidence in
the economy. Over the
past few years, the
percentage of survey
respondents who said the | |
|
| | economy is weak has been
steadily declining, from
a high of 99 percent in
2001-02 (the first year
of the survey) to 82
percent in 2003-04. But
this year's survey
represents a significant
turnaround in the
perception of
recruiters, with only 55
percent perceiving the
economy as weak.
In addition to the
decline in the
percentage of
respondents who said
that the economy is
weak, there was a drop
in the percentage | |
|
| | reporting that the
economy is constraining
their recruiting plans.
This year, only 30
percent of recruiters
who said that the
economy is weak also
reported the economy
constrained their
recruiting plans, down
from 69 percent in
2001-02.
"All the signals are
there for the best
recruiting year since
the irrational
exuberance of the
dot-com era. MBAs are
back," said David A.
Wilson, president and | |
|
| | CEO of GMAC. "Recruiter
optimism about the
economy is translating
into more openings, with
larger numbers of
companies coming back to
more campuses than last
year."
Although those
surveyed are
anticipating an increase
in hiring activity,
economic conditions are
affecting each industry
differently. Recruiters
in the high-tech (68
percent) and health care
(72 percent) industries
are significantly more
likely than respondents | |
|
| | in the finance industry
to state that the
economy is weak. Not
surprisingly, more than
half of the respondents
(52 percent) in the
high-tech industry feel
that the economy is
constraining their
recruitment efforts,
compared with only 21
percent and 18 percent
of respondents in
finance and consulting,
respectively. | |
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