There is an interesting new trend in the MBA job market that is indicative of its current strength. Increasingly, the MBA graduates are turning down solid job offers, because they are waiting for the perfect job. Obviously, graduating into unemployment is not as big of a deal in a situation when the job market for MBAs is soaring.
That makes for an interesting paradox: while the prospects of getting a job for the newly-minted MBAs are better than they were in years – the employment at graduation numbers at top business schools look bad because many freshly graduated MBAs can now afford to hold off for their dream job. That’s great news for MBA hopefuls: you don’t need to grab the first job offer that comes along any more – at least not if you are graduating from a top university!
Those who are working on their MBA degrees at the highly esteemed schools are getting multiple job offers even before the day that they graduate. That makes them more willing to turn down those stellenangebote that they feel are not “right” for them, and wait a bit longer for the right opportunity to come along. In conclusion, top business schools have completely recovered from the recession – but you couldn’t tell that by looking at the employment rates at graduation solely!
What a drastic change from just a couple of years ago, when those second-year MBA students “still looking” for jobs in April were deemed unsuccessful! This reflects not only a rosy job market for MBAs, but the MBA graduates’ growing confidence as well.
There is an additional factor at play as well: MBA degree holders are turning away from the traditional MBA fields of employment like finance and banking, and flocking to tech firms and startups – which can’t predict their staffing needs too much far in advance, so they are hiring “just-in-time” – closer to graduation than other firms. With the robust job market in Silicon Valley, the MBA students looking for a career in tech can take their time accepting job offers, looking for the right fit.
Many MBAs these days are aiming to land a job in a specific industry, and they are not afraid of missing out on a job offer. Those MBA students who see themselves working in a cool new startup can now proceed to go on their spring break without a job contract signed – knowing full well that, for them, patience is a virtue – and their job opportunity just around the corner!