GMAC Survey Finds that Corporate Employers Seek MBAs with Communication, Strategy, and Data Analysis Skills

According to the latest GMAC Corporate Recruiters Survey, competency in communication, strategy, and data analysis are the most in-demand skills for MBA recruits. And corporate recruiters predict they will only grow in importance over the next five years. The survey includes responses from 1,028 respondents in 34 countries. Over half of the respondents come from Fortune 500 companies.

Within the survey, respondents who named communication and technology as important future skills were also asked to provide detail on the specific areas of expertise that they predict will grow in importance. Within communication, 81 percent of employers selected cross-cultural competence, 77 percent chose multilingualism, and 75 percent chose active listening. Within technology, 80 percent of employers selected Web3/Blockchain/VR, 75 percent selected cloud-based technology, and 74 percent selected data visualization, AI and machine learning, and statistical analysis.

The survey also asked employers to assess graduates’ preparedness in these skills. Among U.S.-based employers, fewer than half agreed that graduates are well or adequately prepared in the areas of active listening, negotiating, nonverbal communication, multilingualism, cross-cultural competence, and conflict resolution. While U.S. companies were slightly more positive on graduates’ skills in technology, they still registered lower than other regions. Only 54 percent of U.S. employers agreed that graduates are adequately prepared, compared to 65 percent globally. 

Business School Students Seek Jobs with a Mix of In-Person and Remote Work

Flexibility is key for business school students as they consider their future careers. According to a survey by Highered, which includes responses from over 1,000 business school students globally, almost half (49 percent) said that they are looking for hybrid employment, with a mix of onsite and remote work. Similar numbers prefer fully remote (27 percent) or fully onsite work (24 percent). And just over a quarter (26 percent) said that they would not work for an employer who requires employees to be fully onsite. 

When students were asked to name the perceived advantages of remote work, over one-third named the freedom to live where they like (35 percent). 16 percent noted the ability to attend to family commitments. And 15 percent cited the ability to create their own work schedule. Among the perceived disadvantages of remote work, students named the lack of work/life balance (21 percent), pressure to work outside of core business hours (16 percent), and isolation/loneliness (14 percent). 

Just over half of students responded that their business schools are preparing them with the necessary skills to lead remote teams (52 percent). In terms of soft skills needed for successful remote work, students named: self-motivation (35 percent), flexibility / adaptability (14 percent), discipline (13 percent), and time management (10 percent).  

Student responses are in line with the market shifts driven by the pandemic and technological advances. According to Ladders, Inc., the availability of high-paying remote work has “exploded.” There were an estimated 4 percent of high paying (more than $100,000) remote jobs available pre-pandemic and just under 20 percent at the end of 2021. This number is expected to increase to about 25 percent by the end of this year. 

Ladders, Inc. also analyzed the types of high-paying jobs with the most significant increases in remote work from March 2020 to mid-2021. They found that marketing, media, and design (+974 percent increase in remote opportunities, with more than 18 percent of careers available remotely) and project and program management (+801 percent increase in remote opportunities, with about 15 percent of opportunities available remotely) experienced the largest growth. Other roles with plentiful opportunities in remote work include: software engineers, account executives, development engineers, and data engineers. 

What are Corporate Recruiters Really Looking for in the 2018 MBA Graduate?

The Graduate Management Admission Council (GMAC) recently released its 2018 Corporate Recruiters Survey results, providing insight into current employer hiring demand for MBA graduates.

In 2018, nearly three-fourths of corporate recruiters globally project to hire MBA graduates to fill business development roles. Functions also in high demand world-wide are data analytics (71 percent), marketing (70 percent), and finance (69 percent). The chart below shows the job function recruitment projections for recent MBA hires, globally and in the U.S.

As one would expect, the job functions MBA hires are placed into vary by both region and industry. Below, are a few key industries with the job functions companies plan to fill with MBA hires in 2018.

-          Consulting: consulting, business development, data analytics

-          Finance: finance, investment banking, accounting

-          Health Care: marketing, business development, finance

-          Technology: marketing, business development, data analytics

-          Products: marketing, business development, finance

Globally, recruiters are more likely to hire MBAs into specialist, rather than generalist roles (52 percent and 48 percent, respectively) and into strategic over operational positions (also 52 percent and 48 percent, respectively). In the U.S., recruiters are equally likely to hire MBA students to fill specialist and generalist jobs and just slightly more likely to place an MBA into a strategic role over an operational one (51 percent and 49 percent, respectively).

Delving more deeply into the specific skill-sets recruiters are looking for when hiring MBAs, a Financial Times survey published in late 2017 asked 48 leading employers what skills they want in MBA graduates, and what skills they have a hard time finding.

The most important skills named by these employers included both soft-skills and strategy. Three of the most important skills, however, were also listed among the least difficult to recruit for: networking, solving complex problems, and working with a wide variety of people. The least important skills were function-specific. And the most difficult to recruit for skills were not listed among the most important, but included a cross-section of disciplines.

Key Take-Aways

Both the GMAC and Financial Times surveys provide telling information on how recruiters classify and evaluate MBA candidates. Begin to think like a recruiter. It will be immensely helpful to you as you embark on your management studies.

1.       When considering your career prospects, you should first define your desired role in terms of:

a.       Specialist or Generalist;

b.       Strategic or Operational; and

c.       Job function

Having clear insight into your desired role will help you to find companies and jobs that offer the best fit for your goals. Additionally, knowing precisely what you want in your post-MBA role will help you to develop your elevator pitch and articulate your career vision clearly as you network and interview.  

2.       Staying abreast of recruiting trends by function, as well as highly coveted and/or difficult to recruit for skills can provide insight on areas where additional experience can help you to differentiate yourself. For example, data analytics is not only a function where hiring is very active for MBA recruiters, but also a skill that has been named as difficult to recruit for. Gaining some experience in this area may help to set you apart in interviews, even if this is not the primary function for which you want to be hired.

3.       Consider how you are highlighting not only the most important skills, but also those that are named as difficult to recruit for in your resume, elevator pitch, and interview responses. While your resume should list your specialized skills, this data suggests that highlighting soft and strategic thinking skills may better serve you in those precious networking and interview minutes with potential employers.

4.       Finally, think through your differentiating factors and experiences. Recognize that some skills are easier to recruit for than others, and make sure that you’re aware of and highlighting experiences, coursework, and skills that make you unique among the general MBA population.