Many of the leading US business schools are broadcasting employment rates like never before, alongside great starting salary rates for all of their MBA graduates. Despite this, there is still a huge demand for MBA grads and job prospects are ever growing for US nationals, whilst a fall has been noticed for overseas students.
What About Overseas Students?
Whilst the MBA grad market seems to be booming, it is certainly not so for overseas students. Many business schools report an increasing gap between US grads and overseas students. Darden, one of the schools offering an MBA, noticed that US nationals being offered a job within the first three months of completing the course rose to 94% between 2017 and 2018, whilst overseas grads sat at just 85%. In the US, there are 85,000 total H1-B visas, with 20,000 of these reserved for any master’s students. As many companies rely on US MBA grads and don’t want to take the chance on an overseas student who may not be granted another visa, these rates may continue to fall. There are changes coming to this visa system though, so all hope is not lost yet for foreign grad students!
Why the Growth for US Grads?
MBA graduates are landing some of the best jobs in the business industry in decades. That being said, these graduates need to put up a fight if they want to get picked by the best of the best. Over the last few years, there has been significant job growth in the US, leading to employers being unable to fill roles that were once easily filled. The same can be said for many of the leading industries, including business and healthcare. In 2018, wages had increased more than they had in a full decade.
How Can I Tap into This?
If you were considering an MBA, you are in luck. Many leading companies are now offering recruitment events in the summer before classes have even started. McKinsey & Company are just one of the leading brands behind this movement and they see it as an opportunity for students to understand more about the role they may be getting into. As competition is fierce, recruitment events can lead people in. Julie Papp, the senior associate director for MBA advising and career education at the MITSSM (MIT Sloan School of Management) advised that students don’t have to have a definitive answer of what they want to do post-MBA, but with the fierce competition, it’s certainly a good idea to have some initial interests, as well as reflecting on what skills and values they can bring to a company. If you are interested in studying for an MBA, why not try an online course that works around you? Marketing is one area that is heavily in demand.
For those looking to get into the finest jobs in the industry, you will need strong determination and plenty of grit, especially any MBA grads from overseas. This is due to the visa regime set out by the US.