Jobs for MBA graduates are on the rise in the technology sector. Employment trends have shown that tech giants are among the biggest recruiters of MBA graduates, and career experts predict that skill shortages and an unpredictable business landscape could lead to an MBA job boom in 2022.
Technology companies have done well during the pandemic and are likely to generate the most job growth for MBA students.
“Business models have changed dramatically for most companies,” Willem van Dong, head of career and personal development at Nienrod Business University, told BusinessBecause. “These types of dynamics are making the demand for MBA graduates even stronger.”
So, what are some career trends to aspire to for an MBA in 2022?
Uptick in jobs for MBA graduates in technology companies
Even when working from home, employees at tech companies can still do their jobs remotely without negatively affecting their productivity. Apple recently became the first company to be valued at more than three trillion US dollars, while Microsoft is expected to achieve the same goal in 2022.
To put things into perspective, their success amid the pandemic means they have increased annual MBA recruitment throughout this period. In 2019, 80% of tech companies reported plans to hire MBAs, but that number rose to 96% in 2021. This could provide an opportunity for international students.
“There is an increased demand for candidates with skills in analytics, machine learning, and artificial intelligence,” BusinessBecause quotes Mitchell Kam, senior director of the Center for Graduate Career Management at the UCSD Rady School of Management.
The current pandemic has only served to emphasize the importance of technology. An increasing number of MBA programs are incorporating a STEM component into their programs, which benefits both local and international students. The data also indicates that international students are the primary source of technical talent in the United States.
More Jobs for MBA Graduates in the Healthcare Sector?
Healthcare is another sector that continues to be shaped by technological developments.
Investments have led to the introduction of new predictive and preventive healthcare technologies. The global health applications market — worth $2.4 billion in 2017 — is expected to reach $102 billion by 2023, according to a BusinessBecause report.
Health care and biotechnology are two of the best industries to hire for the school’s MBA graduates, says Mitchell at the University of California, San Francisco. This is expected to continue in 2022.
Cam said health care and biotechnology are rising at UCSF as industries hire the school’s MBA graduates, and he predicted that trend will continue into 2022.
Consulting firms continue to attract MBA interest
Consulting firms have long been at the forefront of companies hiring MBA graduates, and career experts believe this will continue into 2022.
An expert familiar with the matter said that the top three consultants — Bain & Company, McKinsey & Company, and Boston Consulting Group — are often the best employers for MBA graduates.
Consulting firms are well suited for MBA graduates, while the pay is also lucrative, with starting salaries over $160,000 USD annually.
“Even when the market isn’t great, there are usually opportunities for consulting,” said Chris Garnett, Head of Postgraduate Jobs and Employability at Alliance Manchester Business School.
Unsurprisingly, several consulting firms have also made it to Glassdoor’s Top 100 Annual Workplaces list in 2022.
Opportunities in Inclusion and Diversity
Sustainability is high on the political agenda, and it’s also becoming critical across businesses, with experts predicting that sustainability jobs will flourish.
In 2018, a Boston Consulting Group report found that companies with above average diversity in their leadership teams achieved higher levels of innovation. Professional experts believe that diversity is likely to be an important focus for MBA employees in 2022.
Employers in various sectors are incorporating diversity and inclusion in their job descriptions and are looking for candidates who demonstrate these core values, said Beth Briggs, dean of career services at New York Stern University.