Share this article on...
Contact Us
- Report errors or inaccuracies topmba@qsnetwork.com
- Contribute articles contribute@qsnetwork.com
- Advertise advertise@qsnetwork.com
The difference a Masters really makes: the employers' view
Students are dedicating blood, sweat and tears to the Masters qualification worldwide but will they reap the rewards at the end of it? Is a Masters degree really what employers want their staff to have? It seems so. Tim Rogers finds out to what extent Masters graduates are in demand by employers the world over .
Despite the downturn in the world economy seen in the first few months of 2008, the year proved to be a successful one for those graduating with a Masters degree. According to CollegeGrad.com, the popular entry-level online job resource, employment opportunities for those with a Masters degree were expected to increase by 22 per cent over the course of the year. Employers seeking the advanced knowledge and skills a Masters degree reflects come from all sectors of the economy – high tech to services, finance to government. More than 20 companies, many based in the USA but with international subsidiaries, were seeking to employ over 100 Masters graduates this year, with AmeriCorps, one of the US’s largest voluntary and services organizations, intent on hiring 1,000. Other eager recruiters include Microsoft, Intel, BP and Ernst and Young.
"Employers find that Masters candidates have a greater level of technical and field expertise that can bolster a company’s competitive stance in the industry"
Among those companies responding to the CollegeGrad.com survey, 59 per cent anticipated hiring more Masters graduates in 2008 than in 2007, 28 per cent were predicting they would hire the same and only 13 per cent were expecting to hire fewer. Heidi Hanisko from CollegeGrad.com believes hiring candidates with Masters degrees has obvious advantages for employers: “Those with Masters degrees offer a level of education that can be the equivalent to as much as two or three years of experience in the field. Employers find that Masters candidates have a greater level of technical and field expertise that can bolster a company’s competitive stance in the industry.”
Specific recruitment policies
Where Masters degrees are in particular demand is in specific areas tied to their academic content, such as the more technical and scientific fields. Valeo, one of the top automotive suppliers to many of the world’s leading vehicle manufacturers, has adopted a specific recruitment policy for those with Masters qualifications. Patrick Benammar from Valeo’s Management Services Department, in Paris, explains: “We have vacancies open for Masters graduates and we hire between 20 and 30 graduates per year. We are looking for their capacity to innovate and their willingness to prove that we can convince our customers to use new technologies. Their international exposure and their ability to work in international projects and organizations is also considered and highly appreciated. Most of these graduates have been involved in research activities with partners such as universities or engineers schools and wish to stay in an industrial context rather than a research and development laboratory.”
Higher salaries
With the competition for skilled positions increasing, Valeo’s hiring policy has a welcome reward for those graduates motivated by the more financial aspects of their career – those with a Masters degree secure a higher starting salary. Benammar confirms: “Those Masters candidates who we select begin at Valeo with a salary level which is usually 10 per cent higher than classic ‘engineers schools’.”
A targeted approach
Other employers adopt a slightly different approach in their selection and hiring policy. Lilly, regarded as one of the most innovative of the large pharmaceutical companies today, employs Masters graduates in a range of areas, not least research, development, sales and management. Known particularly for their investment in treatments for Alzheimer’s disease and depression, Lilly has a reputation for offering opportunities to those most appropriately qualified. Erika Sjöström, Human Resources Associate at Lilly Europe, describes their approach: “Across Europe we have a more targeted approach when it comes to Masters graduates. We are constantly on the look out for talent and where a position calls for advanced skills then it means we will hire candidates with Masters – where this is not the case, then we will look for others.”
This approach is symptomatic of the situation that those considering applying to a Masters program face around the world. Employers recognize the inherent advanced nature of the skills and specific knowledge a Masters offers, but hire graduates according to their own needs – only seeking advanced graduates only when they have higher level vacancies. That’s not to say the skills developed as part of a Masters program are not going to give you the edge over other candidates with a lower level qualification. There is increasing evidence to suggest that the opposite is true.
