Asia Buoys Demand for Europe's M.B.A.s

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Job opportunities are expanding for graduates from M.B.A. programs in Europe, education officials say. Competition among corporate recruiters is mounting, bolstered by strong demand for managers in rapidly developing India. That is forcing many companies to broaden their searches to include graduates from smaller, up-and-coming schools.

Jeanette Purcell, chief executive of the Association of M.B.A.s in London, recently talked to The Wall Street Journal about the market for M.B.A. graduates. The 40-year-old association is mainly recognized for its role as an accrediting agency, and currently represents 127 accredited business schools. Most are in Europe, but a third are outside including schools in South America, Africa, Australia, New Zealand and Hong Kong.

Here is our conversation:

The Wall Street Journal: What has the competition been like for M.B.A. students this year?

Ms. Purcell: There was a dearth of employment opportunities up until two years ago. Now, all the signs are that competition between recruiters is increasing. Recruiters indicate that they would like to increase their M.B.A. hiring by 10% to 20% this year.

Companies in China and India are keen to recruit M.B.A.s. Obviously, they struggle to meet the salary requirements of those in Europe, but there are new players and that adds to the competitive environment.

One recruiter told me recently that there's a rush to get to M.B.A.s as early as possible. There is even consideration, I'm told, of trying to get to M.B.A. students who haven't yet enrolled in the top business schools. I think it's pretty strange because it suggests that they don't care what you learn. They know that if you got into the business school, you must be good. I think that highlights very clearly the competition that's going on.

WSJ: How much are companies willing to pay M.B.A. graduates?

Ms. Purcell: Our survey of 10,000 people in 2006 showed an average starting salary of 65,000 pounds (about $130,000) [down 1.3% from 65,600 pounds the year before]. This is a basic salary not including variable earnings. It also showed that the average salary increase upon graduation is 20% on top of what the person was earning before.

WSJ: What about signing bonuses?

Ms. Purcell: We have noticed an increase in incentives -- in the use of sign-on bonuses and performance-related bonuses as well as share options.

WSJ: Which industries need more M.B.A. graduates?

Ms. Purcell: Consultancies seem to be increasing their recruiting. We've noticed that more M.B.A.s are going into jobs outside the traditional M.B.A. roles of finance and consulting. M.B.A. graduates are taking jobs in the public sector, the pharmaceutical industry and in health care.

WSJ: Are some companies facing an M.B.A. talent shortage this year?

Ms. Purcell: I think that companies simply need to look beyond their favorite business schools. We shouldn't ignore the growing number of part-time M.B.A.s.

WSJ: What are some specific trends in India?

Ms. Purcell: In India, the supply of M.B.A.s isn't meeting the demand. Employers are crying out for well-educated senior executives of M.B.A. caliber, and local provision isn't keeping in line with growth in the economy. I can't speak for China, but I suspect it's the same. Our priorities for accrediting schools for the next two years are China and India.

WSJ: How do the skill sets of M.B.A. graduates from various European countries compare?

Ms. Purcell: What I can say is that European business schools have really established a strong reputation now. Recruiters increasingly see European M.B.A. programs as a rich source of potential employees and are widening their nets beyond the elite organizations such as Insead and London Business School.

WSJ: What are the biggest differences between U.S. and European graduates?

Ms. Purcell: What you tend to get from a European business school is an M.B.A. who has a global perspective, a good command of languages and who is more willing to relocate and travel. These things are attractive to employers.

Without wishing at all to criticize the M.B.A. in the United States, the European M.B.A. has more emphasis on leadership skills and interpersonal skills -- those skills that employers say they are looking for. Also, there's more of an international mix of students in the European M.B.A. programs. You might see up to 40 countries represented. That gives a rich experience.

WSJ: Have you observed any emerging trends in how recruiting is done and who is recruited?

Ms. Purcell: Increasingly, recruiters are much more open to looking at second-tier business schools, which are producing extremely high-quality students. These students often represent the best investment for companies since they most likely are not demanding the top salaries.

The other thing that recruiters are noticing is that M.B.A.s are more realistic about their career plans and the potential they have for progression. [Graduates are] looking for opportunities to learn and develop, which is slightly different from the typical attitude of an M.B.A. in the late 1990s, who just wanted to go in at the highest level because that's what he/she believed was deserved.

WSJ: Is technology changing M.B.A. recruiting?

Ms. Purcell: If you look at the good schools, you'll see that they offer student profiles online, interviewing online, job postings online. Having said that, most companies will tell you that you can't beat a visit to the school and a presentation to the students for getting the talent and raising the profile of your company.

教育官员们说，欧洲工商管理硕士(MBA)培训机构的毕业生正面临着越来越多的就业机会。由于经济迅速发展的印度对企业经理人有着旺盛需求，企业招聘人员对这类毕业生的争夺正日趋激烈。这迫使许多企业将眼光转向了那些正迎头赶上的中小型商学院。

伦敦MBA协会(Association of M.B.A.s)的总裁詹尼特•珀塞尔(Jeanette Purcell)近日向《华尔街日报》谈及了MBA毕业生的就业市场问题。这家有40年历史的协会在人们眼中主要是一家认证机构，它的127家会员都是获得认证的商学院。这些商学院大多位于欧洲，但也有三分之一位于南美、非洲、澳大利亚、新西兰和香港等地。

以下为谈话内容：

《华尔街日报》（以下简称WSJ）：今年的MBA毕业生争夺战情形如何？

珀塞尔：直到两年前这类毕业生的就业机会还很不理想。但目前的各种迹象却显示，企业招聘人员对MBA毕业生的争夺战正在升温。这些招聘人员表示，他们今年的MBA毕业生招聘量将增加10%到20%。

中国和印度的企业很愿意招募MBA毕业生。虽然它们的薪资水平很难满足欧洲学生的胃口，但作为MBA毕业生的新需求来源，它们加剧了对这类人才的争夺。

一位招聘人员最近对我说，企业都竞相与MBA在读生尽早取得联系。还有人对我说，有些企业甚至正努力与那些有望到顶级商学院接受MBA教育的学生取得联系。我认为这很不正常，因为这表明那些企业并不关心学生能学到些什么。它们认为，只要能进商学院读书，那他就是好样的。在我看来，这突出表明了企业对MBA毕业生的争夺程度。

WSJ：企业给MBA毕业生开出的报酬有多高？

珀塞尔：我们2006年针对1万名MBA毕业生的一项调查显示，这些人的平均起薪为65,000英镑(约合130,000美元)，较此前一年的65,600英镑低1.3%。这只是基本工资，并不包括各种可变收入。调查还显示，MBA学生毕业后的起薪平均比其入学前的薪水高20%。

WSJ：提供签约奖金的情况怎么样？

珀塞尔：我们注意到企业为鼓励MBA毕业生与其签约而花的本钱有所增加，具体的支出方式有发放签约奖金、与业绩挂钩的奖金以及提供股票期权等。

WSJ：哪些行业需要更多的MBA毕业生？

珀塞尔：咨询类企业似乎正在增加它们的MBA毕业生招聘量。我们注意到，正有更多的MBA毕业生到金融和咨询这两个传统就业领域之外工作。MBA毕业生已开始到公共服务部门、制药和医疗保健行业就业。

WSJ：会有企业今年招不到足够的MBA毕业生吗？

珀塞尔：我认为企业只要不把眼光仅盯在他们看重的几家商学院身上就不会出现这种问题。我们不应忽略数量不断增长的非全日制MBA毕业生。

WSJ：印度有哪些特有的MBA毕业生就业趋势？

珀塞尔：在印度，MBA毕业生供不应求。雇主对教育背景良好且拥有MBA学位的高层管理人士有旺盛需求，而印度本地培养的这类人才无法满足经济发展的需要。我说不出中国是怎样一种情形，但我猜与印度的情况是一样的。今后两年我们开展商学院认证工作的重点地区就是中国和印度。

WSJ：欧洲各国MBA毕业生的专业水平谁高谁低？

珀塞尔：我只能说欧洲的商学院目前已树立了良好的知名度。招聘人员正日益将欧洲的MBA培训机构视为未来员工的一个丰富来源，而且他们的眼睛也不再只盯着欧洲工商管理学院(Insead)和伦敦商学院(London Business School)等名校。

WSJ：美国和欧洲MBA毕业生的最大区别是什么？

珀塞尔：欧洲商学院的MBA毕业生往往具有全球视野和良好的语言能力，他们更愿意到异地工作和出差。这些优点对雇主们具有吸引力。

这里一点也没有贬低美国MBA毕业生的意思，但欧洲的MBA毕业生确实更注重领导能力和人际交往能力的培养，而这些能力正是雇主们所看重的。此外，欧洲MBA培训机构的学生更具国际色彩，学生们有可能来自40个国家。在这种环境下学习是学生们的一个宝贵经历。

WSJ：你在招募MBA毕业生的方式以及被招募人选方面发现了些新趋势没有？

珀塞尔：招聘人员越来越将眼光投向了二类商学院，这类商学院正在培养出质量非常高的学生。聘用这类院校的学生对企业而言往往意味着最佳的人力资源投资，这些学生的薪资要求通常不会太高。

另一个趋势是，招聘人员注意到，MBA毕业生对于自己的职业生涯以及升职前景正采取更为现实的态度。他们看重的是学习和发展的机会，这一点与上世纪90年代末的MBA毕业生略有不同，后者只把眼光盯在最高处，因为他们认为自己有这个资格。

WSJ：科技进步对MBA毕业生的招募工作有影响吗？

珀塞尔：那些一流商学院会将学生简介和就业信息放到网上，也会安排学生进行网上面试。虽然如此，但多数用人企业会告诉你，这并不能取代亲自到学校去探访以及与学生进行面对面的交流，后者对招到优秀毕业生和宣传企业形像更有帮助。