In a sign that top MBA employers may be looking to step-up hiring in the UK, 16 global employers from leading companies attended a jobs fair in London on Friday – including Infosys, KPMG and Microsoft.
UK-based MBAs will take confidence in the huge recruiting initiative that comes as the latest careers survey shows that MBAs students are increasingly in-demand.
The Association of MBAs (AMBA), the international impartial authority on postgraduate business education and the only global MBA-specific accrediting body, reports that business schools with their accreditation stamp are receiving the highest average salary in the UK since 2004. The number of graduates in the UK who reported earnings above £70,000 increased by 11 per cent – above the average in most other leading careers surveys.
Statistics also show that there is strong MBA representation in all sectors: 15 per cent of the graduates surveyed are working in consulting, 11 per cent in finance and 10 per cent in industry.
The survey also puts the UK on a par with the United States, which has this year enjoyed the lion’s share of the top MBA ranking spots. QS Top MBA reported that average salaries for US MBAs is about $109,000, compared to AMBA’s figures which put UK MBAs’ salaries on about $116,000.
AMBA’s annual MBA Careers Fair drew 16 employers, some from blue-chip companies, including Accenture, Amazon, Arthur D Little, Capgemini, Gartner and others that were represented by senior HR professionals and functional directors and managers.
Infosys’s presence will be of particular interest to MBAs, as its recruiting plans were revealed this month, showing that the company is hoping to recruit at least 200 MBAs in the U.S, Europe and Asia-Pacific region by June this year.
The leading consulting, technology and outsourcing solutions company is one of the most sought-after in the MBA community. Despite a slower recruiting strategy in recent years, they seem to be on a major talent hunt in 2014.
Srikantan Moorthy, the company's Senior Vice President and Group Head of Human Resource Development, suggested their MBA hiring strategy is a long-term solution. “Our global MBA hire goes a long way to complement the great technical skills that Infosys already boasts,” he says.
“In the long run, this MBA hiring drive will not only increase customer engagement, but will also increase high-end consulting which in-turn will bring in more revenue. Hiring quality individuals will better the Infosys brand and offering.”
Laura Sawyer, Global Head of Consulting Recruiting at Gartner, a leading information technology, research and advisory company who attended the event, says MBAs are essential to their hiring strategy. “We view [this event] as critical in the MBA campus recruiting calendar. MBA hires are essential to the success of our strategic management consulting business, and bring with them a high level of quality to our client engagements,” she says.
“Their deeply analytical skills, professional capabilities and breadth of experience allow each MBA hire to have a positive impact on our clients."
400 MBA students and recent graduates from 20 UK AMBA-accredited business schools flocked to the event at the University of Westminster for networking opportunities.
The MBA students and graduates, of which 44 per cent were women, represented 51 nationalities, had an average work experience of eight years and were on average 31 years old.
Andrew Main Wilson, AMBA's Chief Executive, says that career prospects were a key consideration for today’s business graduate. “I am delighted that AMBA has been able to connect 400 high-calibre MBAs with 16 blue-chip global employers in just one afternoon in London,” he says.
“The quality and salary of job offers received on graduation are increasingly becoming key criteria in students' selection of business schools."