Indian companies prefer to hire degree holders while US focuses on skills: Survey
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New Delhi: A recent survey conducted by the Graduate Management Admission Council (GMAC) revealed Indian companies' preference for graduates from business schools, while US companies focus on specific skills for their prospective employees.
The survey highlighted that communication, data analysis, and strategy are now deemed crucial skills for business school graduates, giving them a competitive edge in the job market.
According to the survey, employers in India believe that business schools offer distinct advantages over candidates without graduate management education. Among them, Asian and Fortune 500 companies have shown a strong inclination towards recruiting candidates from "leading" business schools, valuing the prestige and reputation associated with these institutions.
Interestingly, the survey revealed a significant difference in hiring trends between Asia and the United States. While Indian employers focus on the degree itself and recognize the value of in-person programs, US employers place a greater emphasis on specific skills possessed by candidates, rather than the formal degree.
Andrew Walker, the director of research analysis and communications at GMAC and the report's author, offered insights into tailoring the pitch for job seekers with online business degrees. He suggested that candidates should adapt their credentials' presentation depending on the employer, highlighting the degree for Asian employers and emphasizing specific skills for US-based employers and consulting firms.
Despite concerns over a recession, the survey presented optimistic hiring plans for 2023, projecting growth in recruitment for business master's graduates compared to the actual results from 2022. This indicates a positive outlook for job seekers with business degrees in the coming year.
The COVID-19 pandemic has also impacted employers' preferences, with in-person education being favored over online degrees or micro-credentials. Employers in India are more inclined to give preference to candidates who have completed in-person programs, believing that the traditional form of education offers a more comprehensive learning experience.
The survey sheds light on the evolving landscape of the job market, where business school graduates possess sought-after skills that can drive growth and success for companies. As the business world adapts to changing circumstances, the importance of a business school education and the value of specific skills are set to shape the recruitment strategies of companies worldwide.
