GMAC survey: Employers to hire more graduates in 2013

As per a survey conducted by the Graduate Management Admission Council (GMAC), the job market scenario for 2013 graduates is expected to be positive. This survey was conducted on 201 employers.  The 2012 year-end poll reveals that 76% companies expect to employ fresh MBA graduates in 2013. Last year, only 69% of employers hired fresh graduates. Out of the companies aiming to hire 2013 MBAs, 56% plan to offer a basic salary of 43% or increase the same by 13%.

Companies recognize that graduate employees with a business degree are a smart investment during uncertain times. Also, recruiters need talent who bring with them not only skills but also alertness to face the current changing demands. The hiring process for experienced candidates is 86% in comparison to previous year’s 83%. The new bachelors hired went from last year’s 80% to 78%. The poll discovered that the demand for new graduate holders in other business areas is comparatively smaller but growing.

In comparison to last year’s 33%, this year 43% of the employers are planning to hire management post graduates. 40% employers are expected to recruit master of accounting graduates going up from 32% last year. 39% companies are expected to hire master of finance graduates instead of 32% master of finance graduates recruited last year. 46% companies plan to employ graduates with specialized master’s degree in business in comparison to last year’s 34%.

The internship scenario for 2013 seems strong. Around 85% of the employers are planning to offer internships to students, with nearly 70% of the companies offering internships to UG interns and 65% employers extending internships to MBA interns respectively. Even though fewer firms offer internships to masters-level students from other specializations, companies who do offer internship to such students are likely to take as many or more interns in 2013 compared to last year.

The 2013 hiring outlook went better than expected for most of the firms. Around 85% to 97% companies hired more than they planned to recruit.

Source: The Economic Times