The recently released Cambridge MBA Employment Report celebrates how our graduates can adapt to change and pivot in a cautious post-pandemic employment landscape.
“In one of the most difficult and challenging years the world has seen, we are proud of the tenacity, resilience and determination of our MBA 2019 class, who navigated tumultuous times to achieve their post MBA roles”, says Cambridge Judge Head of Careers, Margaret O’Neill.
The annual MBA employment report, published each Spring, details the outcomes of the graduating MBA class of 2019/20, from which 85% of job seekers received job offers within three months of finishing their studies. Eighty three percent accepted an offer within that initial three-month period and eighteen graduates are successfully working for themselves in their own company straight out of the MBA.
Our MBA 2019 graduating class are now working in 22 countries around the globe, with 47% of the class switching to a different location.
Switching function and country
Ninety six percent of those seeking jobs switched at least country, function or sector, with 73% switching industry and 83% switching function. While 30% managed the triple-jump – switching industry, function and location – that figure was down from 43% last year and reflects the more risk-averse economy the MBA 2019 class entered upon job hunting in the middle of a global pandemic.
Margaret O’Neill, continues, “The unprecedented crisis of COVID-19 saw a cautious recruitment landscape and our students had to adapt quickly to constant change and uncertainty.”
Our top employers this year were Amazon, McKinsey and BCG, but over 80 organisations recruited from the class as a whole. Seventeen percent of jobseekers moved into consulting roles, and over 80% of whom came from a non-consulting background. Whilst McKinsey and BCG were among our top employers, the consulting sector generally was in ‘wait and see’ mode for most of the year.
“We are already seeing a bounce back in consulting recruitment in 2021”, she concludes.
Sector and roles
“The finance sector recruited 30% of our job seekers, whilst the majority – 49% – entered roles in industry.
“Technology roles continue to grow across all sectors, both tech-heavy and traditional industries; use of technology is now so endemic that it is often not listed as a separate function but taken as an integral feature of many industry roles.
“As in previous years technology roles dominated, but there was also a healthy uptake in the healthcare, biotech, and FMCG sectors, reflecting the increased importance of these sectors in the past year.
“This reflects the global growth in the technology sector, and Cambridge Judge Business School’s unique place at the heart of one the most successful technology clusters in Europe.”
As part of the Cambridge MBA, students undertake a career development programme alongside their studies, during which they work closely with the MBA Careers team to create a personalised plan based on career aspirations. The programme includes practical workshops, coaching, as well as recruitment and networking events with employers.
Margaret concludes: “Now more than ever the world is looking for agile, empathic, collaborative leaders, able to manage complex disruptive change. Our demanding, innovative and experiential MBA allows our students to develop the toolkit they needed to navigate disruption and manage their careers successfully. We are excited to see the impact they will have in the world and the changes they will bring”.
MBA Executive Director, Conrad Chua discussed the 2021 employment report outcomes in his most recent video as part of our recent Careers Takeoff series.