Business schools voiced concern earlier this year when new curbs were introduced which make it difficult for MBA students from outside the EU to secure jobs after graduation.
The number of talented new migrants from outside Europe has dropped more than a third since the visa rules came into force, according to new data released today.
The study, carried out by Oxford University’s Migration Observatory, show that British companies are struggling to employ skilled staff from the United States and emerging economies.
The 39% drop in hiring from outside Europe will do little to ease fears among international MBA candidates hoping to take advantage of the UK’s high-ranking business schools. European MBA rankings released this week show that the UK has the largest amount of prestige programs than anywhere else on the continent. Schools also place huge value in the international diversity of their classes. At London Business School, for example, nearly 30% of their students come from Asia and Australasia.
Despite increases from the EU, led by Germany and France, UK-based companies are thought to be facing a shortfall of expert employees, the data suggest. Overall between 2011 and 2013, the number of highly-skilled workers dropped 10%. Nearly 30,000 fewer highly skilled internationals are in the UK today than in 2011. The figures refer to migrants who have been in the UK for less than three years.
Katja Hall, deputy director-general of the CBI, which represents 190,000 businesses, said today that too many people are being left behind in the jobs market. “Our labour market has a strong history of delivering new jobs and pay rises, but some people are still being left behind. And who you are has far too much influence on your ability to find a job and progress in your career,” she added.
Businesses were highly sceptical when the new visa curbs were first rolled out. Mary Hurlock-Murphy, a director of talent acquisition at leading UK marketing agency DigitasLBi, said that the changes in immigration regulations make it difficult to hire international MBA students. The firm plans to hire 50 MBAs this year.
She added: “The limited number of visa categories and the additional time needed to obtain work visas for candidates outside the EEA make hiring from this pool more challenging, and expensive.”
The closure of the post-study work visa, which allowed overseas graduates to stay in Britain to work for two years after finishing their degrees, effectively shut the door on many students who were hoping to launch careers in the region.
The ultimate fear for business schools is that these new findings, coupled with tougher migration curbs, put off the international students that are so coveted by MBA cohorts in the UK.
Clare Astley, Cass Business School’s MBA professional development manager, said earlier in the year: “It is more challenging for international students since the post study work visa was removed. MBAs are now being treated the same as undergrads, and there is a lack of knowledge among employers about what is involved in sponsoring.”
For MBA students, there is further bad news. Difficulties for human resources departments at the bigger UK firms have been made worse because the curbs affect the group of employees that British businesses are trying to target. A push into emerging markets is under way, and hiring graduates from those countries is often key to a company’s global development strategy.
A careers survey released last week showed that many UK firms branching out into emerging markets sought graduates who had language skills and connections with those countries.
“Our graduates are often recruited by multinational companies… To act as ‘connectors’ between the global strategy and local implementation,” said Philippe Oster, director of communication, development and admissions at HEC Paris’ MBA.
Barbara Roche, chair of the Migration Matters Trust, said that any precipitate action to choke off migration would hit businesses looking to expand. “Without migrants to plug skills gaps, businesses would struggle to grow and the recovery would be put at risk,” she added.
Bayes Business School
Best Journalism school in Europe
When I first stepped onto the campus of City, University of London, I knew I was in for a ride - and not just on the Tube! With its vibrant energy and an impressive repertoire of programs, City U became my home away from home. The Journalism program was kind of a big deal. Rumour was that we were the best in Europe! The lecturers were not just experts in their field; they’re practically journalistic royalty. They were invested, passionate, and had a knack for turning the most flat press release into a riveting news story. With their guidance, I’ve learned to navigate the chaotic world of media like a pro. The campus was a melting pot of every culture, being that we had such a diverse international crowd. Being in the heart of London, I had the world at my fingertips - there was always a new corner to explore, a hidden gem of a cafe to discover, or a street performer! City, University of London wasn't just a university; it was a chapter in my life story that I’ll never forget.
The teacher-learner ration is manageable, giving each learner a chance to gain personal attention. It is also easier following up on the progress of a student, as the numbers per class is not large. the conducive environment for learning includes clean classes, standard desks, world class instructional facilities and the opportunity to engage lecturers even after their sessions. The team spirit at City is above board, with learners getting chance to learn both from instructors and colleagues. This is the university of choice; the place to be.
I liked that each class had a manageable number of learners, making the professor-learner ratio favor knowledge acquisition. I also liked that study schedules were manageable, and not overwhelming. The focus on talents and gifts even within the learning environment makes it possible for learners to achieve the best of their potential, and this has worked to the advantage of those that have schooled at City, University of London
The diversity at City University facilitates interactions and is a direction toward the unity of the world. The classes are well built to match the number and needs of all students regardless of the elements of diversity that set people apart. The use of technology in delivery makes learning even more interesting and achievable. At City University there is no distinction pegged on the issues that make people unique.
The team of lecturers at the Uiversity are well experienced. Their level of insight and the methodologies of delivery works for the interes of the leaeners. My learning experience was largely boosted by the level of knowledge of the professors at the institution, and their passion to transfer the same to learners. I appreciate every class I attended because of the level of insight I was able to gather
The best university I’ve been to
The campus and the people I've met have made it a wonderful experience. I was reared in a small town with a graduating class of only 88 individuals, so moving to City University was a huge adjustment for me. My dorm has more residents than my whole high school combined! I enjoy the atmosphere here, and everyone is so friendly. Outstanding academic options and a stunning campus. Really great from beginning to end. The educators genuinely love what they do, and the students are ready to learn. On or around college, there is always something to do with friends, and the social scene is particularly warm.
Bayes Business School
As a student at City university attending Bayes Business School I would totally recommend choosing this university as the experience is exceptional with great social networking opportunities . Professors are significantly helpful, delivering with excellence and professionalism. Everyone is happy to help and make you feel welcomed in such an esteem university as City, offering exceptional development and guidance through out the course.
Economics and Politics
Incredibly amazing university, the way they polish students and help them boost their morale and think intellectually is worthwhile. Many universities have international partnerships to allow exchanges between their students. The most obvious subjects for these opportunities would be those that involve languages, and the study of people and places.