MBAs are valued in Singapore
Companies in Singapore are still demanding graduates with an MBA in Singapore, to fill leadership roles even though there was a decline in executive recruitment during the recession.
Good Demand for an MBA in Singapore
Soriano Nicanor Lazaro, director of marketing and admissions for Singapore’s Nanyang Business School, says the demand for Singapore MBA graduates in the workforce has always been high, with the exception of last year. He says the hiring trends in 2010 are up, compared to last year when senior recruitment was affected by the global financial crisis. “MBA [graduates] continue to derive high value from recruiters, not only in finance but in other industries as well,” says Larazo. “They still command a significant advantage in terms of compensation.”
However, Neil Dyball, financial services manager for Robert Walters Singapore feels the demand for Singapore MBA graduates has decreased this year due to the shortage of quality candidates. Employers may be expecting more from job candidates this year, Dyball says, because there was an overflow of MBA holders with high calibre in 2009.
However, not all companies look for Singapore MBAs
Yet some companies do not need their senior executives to possess MBA qualifications. “While MBA graduates from recognised universities are highly valued, such a requirement is not a necessity as relevant working experience takes precedence,” Dyball says.
Conversely, Mike Tiong, CEO of McCoy Holdings, the company that provides MBA courses for its senior business managers, feels the necessity for employees to have a higher tertiary education is beyond the shadow of a doubt. Not just for the benefit of the company, Tiong tells Human Resources. He says an MBA education will add value to the employees as well. Employees get to learn up-to-date knowledge that they can apply to their work from an MBA course, he adds.
Agreeing, Dyball says companies do believe that candidates with MBAs “have a more commercial view in terms of business approach”. But he adds, “An MBA would be a bonus and mostly relevant to candidates at the senior director level.”
Larazo predicts that companies worldwide will continue to seek MBA graduates to fill leadership roles for years to come. The fact that MBA course preparation centres are flourishing shows the sustainability in the global trend, he says.
According to the figures provided by Nanyang Business School, the number of full-time MBA students admitted has gone up from 86 last year to 94 in 2010.
Sources and references: HRO
