Posted by: Alison Damast on January 13, 2011
The summer internship hiring season is just beginning at many business schools and already things are looking up for first-year MBA students, according to the latest survey from the MBA Career Services Council. Of the B-school career officers surveyed, 81 percent said they expected internship hiring to improve, up from 60 percent in 2009. The improved economic outlook is also boding well for other key hiring indictors like on-campus recruiting and full-time job postings, according to the survey, conducted this December at 79 public and private business schools worldwide
In the latest survey, 63 percent of schools reported an increase in full-time on-campus recruiting, a sharp contrast from last year when 79 percent said they saw a decline in the number of recruiters visiting. Another bright spot? Full-time job postings are making a comeback, with 70 percent of schools reporting a spike in postings; last year at this time, 48 percent reported a decrease in this area.
The encouraging hiring picture comes as business schools have changed some of the tactics they use to help students find employment. For example, this year 64 percent of schools said they saw an uptick in direct referrals of students to employers. Additionally, 58 saw an increase in alumni-initiated hiring of students.
"B-schools have adapted to help students secure jobs," said Nicole Hall, president of the MBA Career Services Council and executive director of alumni and career services at Pepperdine University's Graziadio School of Business and Management, in a release. "The practice of aggressively promoting graduates to fill current openings at target companies is certain to continue even when the economy fully recovers as employers benefit through streamlined placements and students gain from connections to companies of interest."
This technique seems to be the new norm at business schools, where many career services officers are rethinking how they help students get jobs. It seems like their efforts are paying off. We wrote stories earlier this fall that looked at how the MBA job market was beginning to rebound for 2010 graduates and how more second-year MBA students returned to school this fall with an offer in hand from their summer internship employers. It is heartening to see that even in a shaky economy, business school hiring is continuing its fragile upswing. So far, the hiring picture looks to be upbeat for the class of 2011.