The demand MBA or PGDM students continues to show a strong upward trend in 2015, as 84 % of companies across the globe plan to add new MBAs to their workforce, up from 74 % in 2014 and 62 % five years ago, according to a global survey of employers published in the year 2015. Management, as an area of study valued by employers, is showing more strength than ever with hiring of new graduates projected to rise for the third year in a row,” said Sangeet Chowfla, President and CEO (GMAC).
There is an increase in the number of management students being hired by top companies in India and overseas. The average annual salary for a management graduate is between 3L-5L at the beginning of the career. Finance remains the most sought after and highly paid management specialization in the country. Let’s understand the reasons that make MBA/PGDM students employable.
Business School talent is highly valued
Graduates from Management College are valued by the organizations because of their knowledge as well as inter personal skills. Most of these students possess above average to excellent communication and convincing skills. Employers are on a look out for people who can bring positive attitude and different skills to the table, thus increasing the productivity of the company.
Management students need very less training
Management students get some amount of industry exposure during their college days. It is not very difficult for them to adapt the corporate culture later on. As per Mr. Akhil Bansal, Deputy CEO (KPMG), “It is beneficial for the companies to hire management graduates because they are already trained properly. Within 15 days of induction and training, they are all set to work.”
Automation cannot replace leaders and innovators
According to a report by The National Bureau of Economic Research, “Around 57% of jobs could be automated over the next two decades, but this statistics assumes that automation will be cheaper than human labor, encouraging employers to use it.” However, automation and technology advancement cannot replace human efforts and innovative thinking. Machines can do redundant work, but they cannot strategize, organize and lead.
Business expansion and emerging start-up
Existing companies are expanding their business by leaps and bounds. Also, the number of start-up has increased in the past decades. It is essential that the well-qualified young brigade takes up these responsibilities. All this has led to in the demand for MBA or PGDM students.
Management graduates can handle varied responsibilities
Management colleges undertake various activities so that the students learn various aspects of management. The first year has common subjects for all the specializations. Thus, students know various subjects, irrespective of their specialization. They can switch roles in the company because of the knowledge and adaptable nature.
Employers seek candidates who can bring about a change
Companies don’t need just managers; they need leaders who can motivate change. The demand for management degree holders with leadership potential is the most aspect from the employers’ perspective. Across the regions and industries, management students who can fit within the organization’s culture, work within the teams and have the potential to make an impact are highly desired.’
The demand for management graduates will continue to increase in the coming years. It is necessary that students prepare themselves well to work in a competitive scenario and face the challenges of the tough corporate world.