Employees will need to be incredibly adaptable with the ability to re-learn and re-adjust quickly in response to change. Being able to move beyond one’s regular habits and demonstrate flexibility in the workplace will be highly sought after and compensated.
- Katy Montgomery, Associate Dean, INSEAD Degree Programmes
INSEAD MBA’s latest employment report was released in January. We caught up with Katy Montgomery, Associate Dean of INSEAD’s Degree Programmes to glean some insights on hiring trends, job opportunities for MBA graduates and the skill sets that employers are looking out for.
The latest MBA employment report of our 2017 MBA students is out. Could you give us a quick overview of the results?
Katy: For our employment numbers, we are happy to state that 90% reported receiving an offer three months post-graduation, an increase from 89% last year. We also saw increases in average annual base salary and median sign on bonus. Consulting continues to be the most popular sector with Technology, Media and Telecommunications (TMT) coming in second. Fintech is a new sub-sector of the TMT industry this year.
Fintech seems to be the up and coming sector. Could you share your insights on this new player in the field?
Fintech is definitely a booming sector and is very broadly defined as any technological innovation in financial services. Thus we are seeing Fintech opportunities grow in traditional banks and in start-ups. Fintech includes, but is not limited to, blockchain technology, cryptocurrency, regulatory technology, Insurtech, and robo-advising. Fintech is exciting because it is still a new industry and it is fast-moving and ever-changing. Additionally, this is an industry where employees can add real value bringing more fairness and transparency to financial services.
Increasingly, there are more medium-sized employers moving up the charts. What does this indicate?
Students are seeing the benefits of working for medium-sized employers as this provides them with a significant amount of responsibility early in their career; ability to influence vision and bottom-line; quick progression within the organisation; greater access to top-level management; and a likelihood of gaining a broader range of experience and skills.
What are some hiring trends that your team has seen amongst employers?
Companies now more than ever are talking about disruption. Employers understand that the world is moving and changing quickly, and are looking for employees who are action-oriented and able to overcome obstacles. Disruption at this point and time can also be interchangeable with “digital”. Companies are looking for digital experience and those interested in competing in the digital space. More than ever, we are also hearing companies talk about the importance of networking once gainfully employed: career management is an important skill and vital to moving within a particular industry or organisation.
What are some specific qualities that employers are looking for when hiring?
Employers are looking for candidates who have the ability to maintain productivity in a world that is changing faster than ever. Employees will need to be incredibly adaptable with the ability to re-learn and re-adjust quickly in response to change. Being able to move beyond one’s regular habits and demonstrate flexibility in the workplace will be highly sought after and compensated. Employers will look for this flexibility in applicants’ complex problem-solving skills and creativity. More importantly, employers will be looking for the ability to motivate and encourage others; the talent to empathise is, and will continue to be a very important quality for employers when hiring.
And how does the INSEAD MBA prepare graduates for the changing job market?
INSEAD MBA students have the unique experience of completing 85% of a traditional two-year MBA in 10 months. This fact, along with the diverse make-up of the student body, ability to study in multiple global locations, and focus on personal leadership development, makes our students best prepared to thrive in a changing job market. After completing the INSEAD MBA 10-month programme, INSEAD students understand how to prioritise, how to work effectively with all kinds of people from different backgrounds, and how to adapt quickly to change and new environments. As more companies move away from lock-step and look for leaders that can manage and create their own transitions, the fast-paced and diverse INSEAD programme will prove more relevant than ever.
What’s up next for the CDC team?
It has been an exciting year for CDC. We are pleased with the employment data but are also excited about our new Career Cores resources and a new approach to working with students on finding fulfilling careers. Like the employment market, we are aware of the rapid change around us and are creating and implementing initiatives to best prepare INSEAD students for the future of work.