Business grads likely to find higher pay, but better prospects elude many
Print Edition
Some 70 percent of Shanghai residents who earned masters of business administration degree earned higher salaries after graduation, but only 43 percent of them said they are satisfied with their current incomes and career prospects, according to a survey by BRecruit.
The survey covered about 300 people who have graduated from MBA programs at 13 local universities or business schools.
About 30 percent of respondents said they worked for six to 10 years before they started MBA programs, while a fifth listed more than 11 years of job experience.
Nearly 80 percent of respondents said they decided to take MBA programs to improve their management skills, with 60 percent saying they wanted to break through “career bottlenecks.” About half of interviewees said they were pursuing career promotion, and 40 percent said they were seeking higher salaries.
School reputation was the most important factor in the choice of MBA programs, according to 70 percent of respondents.
Some 60 percent of respondents said tuition for MBA programs is too high and cost was an important factor in school selection.
MBA tuition has been growing steadily in China, but some schools have frozen or even reduced the costs because of the slowdown in the nation’s economy and government calls for more frugality.
CEIBS charged 388,000 yuan (US$61,173) in tuition for each student enrolled this year, the highest among all MBA programs in Shanghai. The school told Shanghai Daily tuition will rise “slightly” next year. Fudan’s tuition this year was 298,000 yuan. No increase is planned next year, the university said. Other MBA programs, such as those at East China University of Science and Technology, have suspended tuition increases for years.
With so many MBA programs on offer in China, enrollees vet the quality of curricula, looking for schools that add value beyond theory teaching and case studies.
Half of the respondents in the BRecruit survey said they weren’t satisfied with the academic activities and employment services offered by their MBA programs. They expressed a desire for more contact with employers and increased availability of internships.
At Fudan, the Management School initiated its iLab project to cooperate more closely with overseas business schools in market analysis and strategic consultation for companies. The program puts students in touch with industries they might not know well and gives companies the chance to view student capability close up to improve talent recruitment.
The East China University of Science and Technology signed cooperative agreements with several human resources service companies to provide career-planning consultation for students and help them contact employers.
A tenth of respondents started up their own businesses after graduation, while 44 percent decided to stay with their existing employers to accumulate more experience before they strike out on their own. About 45 percent said they don’t plan to seek self-employment.
Many of those interviewed said they received promotions after their MBA studies. The percentage of those becoming general managers and vice general managers increased from 7 percent to 13 percent. The percentage of directors also grew from 7 percent to 11 percent.
After graduation, more MBA students turned to foreign companies for employment, rising to 46 percent from 45 percent.
Seven-tenths of respondents said they are earning more money after graduation. About 30 percent said their incomes increased by 30 to 66 percent.
Only 43 percent of those polled said they were satisfied with their salary increases and job promotions, while 41 percent said their career development was just “so-so.”
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