A recent Business Because report detailed how many expect the demand for Masters of Business Administration degree holders to wane in the coming years, due to lingering aftereffects caused by a long-slowing economy. However, Bill Driscoll, president of the New England District at Robert Half International, begs to differ. He believes that the demand for MBAs – for a large variety of different finance jobs – will continue to increase.
"We continue to see demand for MBAs among financial services clients," Driscoll told the news outlet. "Companies have commonly sought MBAs for their corporate finance departments to serve in senior-level accounting and finance positions … Finance organizations seek MBAs who have previous experience and can fill positions with data analysis, budgeting, forecasting, modelling and FP&A responsibilities."
Business Because went on to cite a number of figures that don't bode so well for individuals on the hunt for hedge fund jobs and other finance positions. The University of Chicago's Booth School of Business sent only 35 percent of its last graduating class into finance jobs, according to the report, down from 43.2 percent the prior year. And, financial services professionals reported to the outlet, within a survey, that they expected to cut jobs for graduate business students by more than 50 percent.
However, Driscoll dismisses this entirely – noting that many businesses have a demand for MBA applicants that can't be met. He promises that those holding such a degree can expect to field multiple job offers, for executive jobs, financial analyst jobs and other positions.
"Companies in essentially any industry looking for MBAs with experience in corporate finance, budgeting and forecasting simply can't find these professional," Driscoll told Business Because. "The recruiting challenges are severe and the competition for these candidates intense. Professionals with an MBA, in-demand technical expertise and outstanding soft skills can quickly secure three or four employment offers if they choose to enter the job market."
This backs up another recent report, from Bloomberg Businessweek, that claimed that the value offered by MBA degrees was helping business school students to avoid the student loan debt plaguing other graduates. Research cited by that news outlet shows that the median debt load of a business school grad remained steady from 2004 through 2012 – even as the median debt loads for other college graduates increased significantly.