Graduate business programmes 'uniquely positioned — and trusted for their ability — to develop business talent with increasingly relevant and cutting-edge skills'
More employers across the world are planning to hire more graduate management education (GME) graduates this year, according to a new report.
The 2024 Corporate Recruiters Survey released by the Graduate Management Admission Council (GMAC) polled 931 survey respondents from 38 countries to determine the trends for GME graduates this year.
"More than a quarter of employers plan to expand their hiring of GME grads in 2024, with a plurality planning steady hiring across degree types," the report stated.
More than a third of employers (36%) are planning to hire graduates of Master of Business Administration (MBA), up from 13% in 2023.
Another 32% are also planning to hire Master of Business Analytics and Master of Data Analytics graduates this year, the report added.
Source: 2024 Corporate Recruiters Survey
According to the report, plans to expand hiring across GME degree types tend to be "most conservative in the United States and the technology sector."
On the other hand, employers in Asia continue to report the most optimistic hiring projections of GME talent across degree types.
"Likewise, plans for hiring accounting graduates are mostly steady instead of expanding in the tech, manufacturing, and products and services sectors," the report read. "However, plans to hire MBAs are increasing in the consulting and finance/accounting sectors."
Reasons for hiring
Amid strong hiring projections, the report found that the top influence for recruitment this year is their organisation's finances. More than half of employers (51%) cited the financial status of their organisation as a major influence on their hiring decisions this year.
Around a third also cited inflation (31%) and recession fears (30%) as influences for 2024 hiring, the report added.
Source: 2024 Corporate Recruiters Survey
"Graduate business programmes continue to be uniquely positioned — and trusted for their ability — to develop business talent with increasingly relevant and cutting-edge skills, who are equipped to tackle new and perennial challenges with a balance of tech and human understanding," said Joy Jones, CEO of GMAC, in a statement.
Is AI important for GME grads?
Meanwhile, the expanding influence of artificial intelligence in the employment landscape is also felt across the recruitment of GME graduates.
According to the report, only 26% of employers worldwide said AI is currently important for GME graduates. However, it is also ranked as the fourth-highest important future skill among employers globally.
"Most employers are not too concerned about AI for today's GME grads, but its importance is expected to grow—and soon," the report stated.
Source: 2024 Corporate Recruiters Survey
Jones said the report shows employers are "betting on the rising importance of tech prowess."
"To achieve success, future business leaders will need to harness technological advancements and possess the knowledge and experience to manage the change brought on by these evolutions," Jones said.
