London MBA Recruitment Rebuilds

“There is still caution in the market but it is more positive than it was this time last year. We are seeing some companies pressing ‘go’ for graduate recruitment in September but we expect that it will improve further in 2011.

There has been a reduction in hires from the traditional MBA recruiters, such as the major financial services companies, but this has opened up recruitment opportunities to SMEs and big FTSE companies that had less presence on campus in the past.

That said, there is still a demand for talented candidates and, in some cases, companies have become more reactive and are hiring throughout the year rather than just in September.

People are nervous about leaving their jobs and that does have a knock-on effect. MBAs that have the chance to return to their old companies are doing so because it is a safe option; in the past it was used as springboard to a more senior role or a new sector.

The recession has made MBAs more pragmatic and more creative in their approach to job hunting. The careers services and alumni networks at business schools have also become a lot more proactive and we are now being invited to show them how we can help with recruitment.”

Christina Stampfli, full-time student, Imperial College Business School.

“Nowhere was left untouched by the recession and as a self-funded student, who gave up a job, the right course and the right institutional reputation were always going to carry the most weight.

But London remains London. There are downsides. It’s expensive and the food is not as good as it is in the rest of Europe. But there is the history and the culture and having lived and worked in London is important to resumé building.

Going to an American school after Berkeley and after working in the States might have given an impression of parochialism. None of us is under any illusion other than the global market for MBAs is tight and is going to remain so.

Showing you are comfortable working in such a vibrant, cosmopolitan and multi cultural city  - that’s got to be a plus.”

Cassie Gilbert, Head of Careers and Professional Development at Imperial College Business School

“The recession was a truly global phenomenon and no country and no city was insulated or isolated from the effects.  But in London, businesses are now directing increasing energies to post-recession growth strategies.

For MBA students that means entrepreneurial skills and an understanding of how to make innovation effective are in demand. Innovation is what smart firms do to grow out of recession and research shows entrepreneurial businesses move out of recession more rapidly.

There are also more subtle changes that forward-looking schools such as Imperial have responded to quickly and positively. Institutional reputation and alumni and academic staff networks are again important differentiators when choosing a school.

And what may once have been regarded as ‘nice-to-haves’ such as alumni development services, personal continuing learning initiatives and indeed a connected and switched on careers service are now key offerings in an MBA package.

The way I look at the London jobs market, especially in banking and finance, is that while it did shrink globally through the recession it did so fairly evenly, so London is still the biggest player.

It is very much a recruiter’s market though and that is unlikely to change quickly so prospective MBA students and those further along in their post-MBA career need to wring every possible advantage from their course, their institution, and that institution’s post-graduation services.”

“I have lived and worked in the US, UK, China, and in South Africa and, in my experience, London is the only global city where the world really connects.

London’s role in the financial crisis was on my mind when I applied. The large financial institutions among others have gone through serious local and global turmoil and this has affected MBA students negatively since in the short-term jobs dry up, as they do everywhere during a recession. This slowdown is a challenge for MBA graduates who wish to stay in London for work.  However, times of recession do generate a clearing out of the bad parts of businesses, which in turn can create new opportunities for smart job seekers.

The job market in London is improving now as the City revives itself.  In addition, there are always top jobs available for individuals who are persistent and can leverage their unique skill sets.”