What’s the skill gap? 87% of corporates are confident in B-schools’ ability to prepare future managers: Survey

At least 87 percent of corporate recruiters said they are either highly confident (36 percent) or confident (52 percent) in their ability to prepare students at business schools to be successful in their organizations, GMAC Corporate Recruiters Survey 2022 Summary stated in the report. It added that this year’s recruitment of graduate management education (GME) graduates continues to be bullish, with 92 per cent of corporate recruiters looking forward to hire the newly minted MBAs.

“Nearly 9 out of 10 corporate recruiters feel confident or overly confident in the ability of business schools to prepare students to succeed in their organizations. This is an extraordinary figure,” said Sangeet Chowfla, president and CEO of GMAC.

Read also| less than half of skilled Indian graduates; B.Tech, MBA Most Employable: India skill report

“This demonstrates that, despite the pandemic and the limitations it has brought on student mobility, public and mental health, and distance learning, business schools have managed to find ways to build an influential group, which is recognized by corporate recruitment and staffing agencies around the world. Banks continue to be the major sources. For talent,” said Chowfla.

Two out of three corporate recruiters describe their organization’s current direction as expansion or growth (67 percent) and a similar proportion plan to increase their overall headcount (65 percent). At least 63 percent of respondents said the demand for new business school talent will grow over the next five years, with business master’s intent to recruit the largest number of recruiters for companies in East and Southeast Asia and the Middle East.

Meanwhile, according to India Skills Report 2022, less than half or 46.2 percent Students are eligible for employment in 2022. Although this is an increase, it is still less than the pre-pandemic numbers. In 2019, a total of 47.38 percent of Indian talent was employable. Most of the employable students are from B.Tech or BE degree. The report said that 55.15 per cent students passing BE, BTech are employable followed by MBA.

Among other key findings in the GMAC report, MBA starting salaries continue to provide a premium and business master’s average starting salaries are increasing. Median MBA starting salary levels range from 22 percent to 40 percent of undergraduates offered worldwide. Median starting salary is the largest in the United States, with US$115,000.

In a possible response to counter the effects of inflation, corporate recruiters look to benefits packages – including educational aid – to meet the changing needs of new graduates. Educational aid such as tuition reimbursement and scholarships has become an increasingly common benefit, with 54 percent of it being offered in 2022, up from 35 percent last year.

The Middle East (52 percent) and Western Europe (40 percent) have the highest percentage of employers planning to hire international candidates this year. In the United States, 56 percent of recruiters say they either plan to make international appointments this year (35 percent) or are ready to (21 percent).

Survey shows that global corporate recruiters are beginning to accept online degrees. The percentage of global recruits seeing graduates of GME programs online and in person increased from 34 percent in 2021 to 60 percent in 2022, suggesting a significant increase in acceptance of online programs.

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