It looks like last year’s predictions of a meltdown in the job market for new MBAs may have been “panic stricken and inaccurate”, reports “Forbes”. Experts such as Pamela Mittman, head of career services at New York University’s Stern business school sees job postings for immediate hires up 40 per cent year-on-year to 2009 and vacancies in some sectors such as venture capital, private equity and consumer products up by as much as 70 per cent.
The latest research from the MBA Career Services Council, which surveyed schools across the USA and Europe, found 60 per cent of career departments reporting more job postings this year than last. These general figures, though, might mask a substantial shift. More and more Fortune 500 companies are now hiring international MBA students, not for classic head office roles in the U.S. or Europe, but to run operations in their own home countries. L'Oreal for example, says the company is "deeply interested in talent acquisition for our developing markets, because our sales in new markets will very likely exceed those in Western Europe this year". L'Oreal's CEO is already talking about reaching out to as many as a billion new customers. L'Oreal looks for graduates of major U.S. and European schools such as Harvard, Wharton, HEC and IMD and gives them their initial exposure to the business in centres such as Paris and New York.
The study Global Snapshot by Antal, an international management recruiter which monitors employment trends in 55 countries, found hiring on the professional and managerial job markets up 53 per cent around the world since January - but markets are up 65 per cent in Brazil, 72 per cent in China and 73 per cent in India. One of the key drivers behind this growth in emerging markets is a move away from the conventional expatriate model. In countries like China and India, the 'returner' is becoming one of the most sought-after commodities in an increasingly competitive marketplace.
http://search.forbes.com/search/find?tab=searchtabgeneraldark&MT=MBA
New York University’s Leonard N. Stern School of Business
