Healthcare, e-commerce and financial technology are the sectors poised to snap up the most MBA students in 2016, according to careers directors contacted by BusinessBecause. The MBA jobs market is booming, with GMAC’s year-end poll of employers this week showing 68% of companies see recruiting b-school grads as a priority. “Employer demand for graduate management talent is projected to remain strong in 2016,” says Bob Alig, an executive VP at GMAC.
Feverish Demand From Healthcare
Healthcare is one sector where there may be feverish demand for MBA talent. “Healthcare is an especially bright spot for us at UNC Kenan-Flagler. MBA’s interest in this sector is increasing, and hiring results are growing,” says Jeff McNish, director of the MBA Career Management Center at the US business school.
Among the healthcare groups injecting MBAs into their workforces from Kenan-Flagler are Eli Lilly, DaVita, and GlaxoSmithKline.
Jeff’s jobs outlook for the year ahead is similarly upbeat: “I’m optimistic about 2016.”
At the UK’s Warwick Business School, Sue Thorn, director of WBS CareersPlus, says there is growing interest in the healthcare sector from MBA students. “In particular,” she adds, “we are seeing a lot of clinicians in both the public and private healthcare sector coming to do MBAs.”
Electric Jobs Growth In FinTech
Another area tipped for MBA stardom is fintech, a sector full of firms that are crafting apps and digital services for banking and payments, for example.
“There are a lot of start-ups using technology in the finance industry looking for MBAs,” Sue says. “And these days, MBAs are interested in joining start-ups. The thirst to be entrepreneurial will continue in 2016.”
In Hong Kong at CUHK Business School, Tina Lee, director of the Career Management Center, is of a similar mind. She says: “The shortage of good IT talent seems to be a concern in the recruitment market, particularly in a market economy that is moving towards big data, analytics, e-commerce, and fintech.”
She says that MBAs are cognizant of the necessity to look more broadly at boutique firms and seed companies — many fintech outfits are in their infancy.
E-Retailing Delivers Careers
Tina’s word on e-commerce in China — where Alibaba and JD.com have enjoyed growth — is shared by many of her peers at other top schools globally.
“Consulting and e-commerce are strong recruiting sectors,” says Conrad Chua, head of MBA careers at the UK’s Cambridge Judge Business School. Market leader Amazon is a top recruiter at Judge, plus other top-ranked schools like Michigan Ross, HEC Paris, and ESADE.
“Online retailing is growing fast and those companies are looking for operations managers with the strategic and management skills that come with an MBA,” Warwick’s Sue says.
“Last year online retail companies recruited quite heavily and took quite a lot of MBAs from us, and I expect that to continue.”
Tech Firms Are MBA Magnets
At MIT Sloan School of Management in the US, there is a similar thirst for careers at firms utilizing digital technology. “We have a rich ecosystem for start-ups and innovation, which are areas of strong interest,” says Sue Kline, co-senior director of the MBA Career Development Office. At MIT Sloan, tech firms and consultancies have been among the top recruiters for three decades, she says.
Lara Berkowitz, executive director of the Career Centre at London Business School, predicts a similar tech trend.
“We expect the big story to continue to be the surge in tech hiring,” she says. “A lot of schools are reporting approximately 20% of their students going into the tech sector, and we don’t see this trend reversing in 2016.”
It’s The Economy, Stupid
Lara expects economic developments to impact the jobs market for MBAs in the year ahead, such as the state of the Chinese economy, concerns over which have contributed to the worst start to global markets this month in two decades.
“We’ve already seen MBA hiring in the energy sector slow due to oil prices,” she says. The plunge in the price of crude, from $100 a barrel in 2014 to about $30 today, has seen the likes of BP and Total slash thousands of jobs. Kenan-Flagler’s Jeff says he anticipates the oil and gas sector will not increase hiring, along with investment banks and manufacturing firms.
“The MBA recruitment cycle has just started and much will depend on how the global economy performs,” says Cambridge Judge’s Conrad. “However, we are cautiously optimistic that the prospects are good.”
At CUHK, Tina is more cautious. “In Hong Kong, the MBA job market should be fairly secure in 2016, barring major upsets in the global markets. However, there is an air of uncertainty. The recruiters we work closely with expect Q1 to be quiet, with hiring slowing down.”
Search For Social Impact
Another shift tipped for 2016 is the continuing quest for careers that have a positive impact on society. Companies from McKinsey to Goldman Sachs have moved to offer such roles.
“We are expecting to see a continuing rise in student interest in social impact — whether it is organizations in the third sector or areas such as impact investing,” says LBS’ Lara.
Student Reviews
One of a kind
I studied Bioinformatics at CUHK last year. It was the only Master's degree in Hong Kong in this field. This program developed my analytical skills and equipped me to be a Bioinformatician in a very practical way.
I enjoyed my year here and met classmates from different parts of the world. If you are thinking to enhance your profile, this degree program would be a good option.
general education courses, unique college system, large campus
The university facilitates multi-dimension and interdisciplinary learning. In social science faculty, we need to choose courses as our faculty package from other departments (architecture, psychology, sociology, etc.) to learn more than our major required courses. We are also required to finish general education courses, which aid our critical thinking and humanistic sensibilities. I do recommend the social science broad-based program, and the professors I met so far are all responsible and erudite.
LLM
The faculty of law is relatively new. You do not need to have a LLB to pursue a LLM, which is special. The taught programme is great for mature students who want to obtain legal knowledge.
CUHK has good teaching staff too.
Amazing Campus and Great Educational Environment
Not only is CUHK's main campus breathtaking, it provides for a good educational environment for students. The university is well-equipped with modern and up-to-date facilities to help students with their study. We have 8 libraries in total around the campus; one for media, one for architectural studies, the medical library and the law library. The Professors are always helpful and are happy to talk to students when needed.
Moreover, the college system within the university brings forth the uniqueness of CUHK. Each student belongs to a different college, and in that students are able to meet different peoples from different countries and students from different faculties.
I think CUHK provides for a well-rounded university life for all students.
exthrillating
One of the most down to earth places in HK. A great opportunity to learn and embody the local culture. Also had one the most beautiful campus in Hong Kong up on the hillside. Glad to have graduated here.
Innovative and Supportive
My university provided me with all the support I needed, and encouraged me to be up to date with all the new developments in the world. They also provided me with the incentive to excel at what I do, and they take much pride in my achievements. I have had a very rewarding university experience.
Small, New But Friendly Law School
To being with, I think the campus of CUHK is the best and the biggest in Hong Kong, with fresh air and trees everywhere.
I am an undergraduate Law student at CUHK and I think the teaching here is great, with very friendly and nice professors and the new Lee Shau Kee Building.
In terms of the courses offered by CUHK, as one of the largest universities in Hong Kong, CUHK is an all-rounded university, offering a wide range of courses to students. Students may take the introductory courses of discipline other than their own major, or even declare a minor.
For law electives, due to the small amount of intake, the variety of law electives are not that huge. However, the Faculty is offering some international programmes, which can be treated as law electives, but at the same time, provide us with an opportunity to travel and know more about the legal system of another country.
The career support from the Faculty of Law is also amazing. The Faculty will organise CV Sessions and talks on how to get an internship from law firms or mini-pupillage from barrister's chambers. Each student will also have a Distinguished Professional Mentor, which is a current legal profession, providing us with practical advices and updates of the legal field.
Finally, from my personal experience, I think the students in CUHK are friendly and genuine. As Law students, competition is inevitable for grades, GPAs, vacation schemes and training contract. However, I think the competition in CUHK Law School is a positive one, in a sense that help us grow together, instead of fighting with each other no matter what. That is the biggest reason why I am having a very good time here in CUHK Law School.
A place to explore your interests
As a law graduate from CUHK (both undergrad and post-grad), I realise that I had many opportunities to explore my areas of interests (legal and non-legal both). The faculty/university requires us to take a certain number of non-law electives, and offers a plethora of courses to choose from. Personally, I took 3 modules in Korean --I can't say it's made me highly proficient, but it's definitely given me a good foundation (I can walk into a Korean restaurant and confidently order food, at the very least). The fact that language courses are offered also provides students who are more financially constrained an opportunity to learn a language without having to shell out a premium for a decent language course. On top of that, we have a range of law electives as well. I know of classmates who have developed lasting interest in different areas of law because of the electives they took in school. The two electives that I would say have changed me is (i) mooting and (ii) family law. I think my experience in an international commercial arbitration moot competition has helped tremendously in formulating legal arguments and legal writing. On the other hand, taking a family law elective has made me very interested in the family law practice, especially in terms of child rights. For these experiences which I have gained, I'm grateful for the opportunities provided by the school.
One main issue most students I know have is with the way our GPA is calculated and the lack of transparency in terms of how the honours system works. As our GPA is marked on a curve. it's highly unrepresentative of what we have achieved as individuals. Given that our GPA is the only criteria that is looked at when we apply for the compulsory post-graduate law course (mandatory should we want to practise law and/or be trainees in Hong Kong), it will put our own students at a distinct disadvantage when we compete for limited spaces with students from schools where GPA is not on a bell curve.
Valuable time in CUHK
I like the learning environment and people at CUHK. Surrounded by hills and Tolo Harbour, CUHK provides a balance between nature and hustle. You can always escape from the busy study life and meet your friend around the big campus for different activities.
