Job Market Forces MBA Graduates To Get Creative
March 4, 2009
By the My MBA Career Content Team – Find Top MBA Degree Programs
A recent survey of business schools finds that MBA graduates will have to be creative as they begin their job search process.
According to a recent CNN report, there will especially be fewer jobs available in the financial services industry this year as a result of ongoing instability on Wall Street. Citing a recent survey by the MBA Career Services Council, the news network says that recruiting activity is down at many schools, while about a fifth of career services offices in the survey were seeing a 20 percent drop in the number of job openings.
Only about five percent of the offices reported any kind of hiring upswing, while nearly two-thirds predicted that internships would suffer along with job openings. This is significant to MBA students as well since many of them get their jobs through internships.
"For some companies, there is some good news in that they now can attract students from top tier schools that they may not have been able to afford in prior years," Kip Harrell of the MBA Career Services Council was quoted as saying, going on to call it a "buyer's market for employers."
Past media reports have noted that one way new graduates are navigating the recession is by finding work at smaller companies and startups, which can still offer considerable long-term growth opportunities.
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