Jobs for MBA graduates are on the rise in the tech sector. Recruiting trends have shown that tech behemoths are among the biggest recruiters of MBA graduates, and career experts project that skills shortages and an unpredictable business landscape could drive an MBA jobs boom in 2022.
Tech companies have been performing well during the pandemic and will likely have the largest growth in jobs for MBA students.
“Business models have changed drastically for most companies,” Willem van Donge, head of the career and personal development at Nyenrode Business University, told BusinessBecause. “These kinds of dynamics make a demand for MBA grads stronger.”
So, what are some of the career trends aspiring MBAs should know about in 2022?
Uptick in jobs for MBA graduates in tech companies
Even when working from home, staff at tech companies are still able to do their jobs remotely without negatively affecting their productivity. Apple has recently become the first company to be valued at over three trillion US dollars, while Microsoft is expected to reach the same goal in 2022.
To put things into perspective, their success amid the pandemic has meant that they have increased their annual MBA hiring throughout this period. In 2019, 80% of tech companies reported plans to hire MBAs but that figure rose to a whopping 96% in 2021. This could spell opportunity for international students.
“There’s an increase in demand for candidates with skills in analytics, machine learning, and artificial intelligence (AI),” Mitchell Kam, senior director of the Graduate Career Management Center at the UCSD Rady School of Management, was quoted saying by BusinessBecause.
The current pandemic has only served to emphasise the significance of technology. A growing number of MBA programmes are incorporating a STEM element into their programmes, benefitting both domestic and international students. Data also suggests that international students are a primary source of US tech talent.
More jobs for MBA grads in the healthcare sector?
Healthcare is another sector that continues to be moulded by technological developments.
Investments have led to the introduction of new technologies for predictive and preventative health care. The global health app market—valued at US$2.4 billion in 2017—is predicted to hit US$102 billion by 2023, reported BusinessBecause.
At UCSD Rady, healthcare and biotech are the top recuiting industries for the school’s MBA grads, says Mitchell. He predicts this will continue in 2022.
At UCSD Rady, healthcare and biotech are rising to the top as recruiting industries for the school’s MBA grads, said Kam, predicting this trend will continue in 2022.
Consulting firms continue to be attractive to MBAs
Consulting firms have traditionally been the top recruiters of MBA graduates, and career experts believe this will continue in 2022.
The three big consultants — Bain & Company, McKinsey & Company, and the Boston Consulting Group — are often the top recruiters for MBA graduates, said an expert familiar with the matter.
Consulting firms are considered a perfect fit for MBA grads, while the pay is also lucrative, with starting salaries of more than US$160,000 annually.
“Even when the market isn’t great, there are usually opportunities in consulting,”said Chris Garnett, head of postgraduate careers and employability at Alliance Manchester Business School.
Unsurprisingly, several consulting firms have also made it into Glassdoor’s annual 100 Best Places to Work in 2022 list.
Opportunities in inclusivity and diversity
Sustainability is high on the political agenda and it is also becoming critical across businesses, with experts predicting a sustainability job boom.
Back in 2018, a BCG report found that companies with above average diversity in their leadership teams achieved greater levels of innovation. Career experts believe diversity is likely to be an important focus for MBA recruiters in 2022.
NYU Stern associate dean of career services Beth Briggs said employers across sectors are including diversity and inclusion in job descriptions and seeking candidates who demonstrate these core values.