Certainly, the job market had a severe jolt from the fall out of the Covid 19 pandemic, reducing the number of job offerings compared to 2019 or early 2020. However, there is still a demand for candidates with higher qualifications and skills. That is why post-graduate recruitment is still doing well.
A study commissioned by the U.S. Bureau of Labor Statistics (BLS) has already noted that employees with a post-graduate degree will draw more salary compared to those with bachelor’s degrees in the workforce. In specific terms, the report said per week postgraduate employees are earning more than $200 making a whopping $10, 000 annually. Also, PGs face a lower unemployment rate as job opportunities are bright for postgraduates as many mid and senior positions require a masters degree at the entry-level itself.
Companies are still hiring employees endowed with diverse, agile skills to help them navigate the turbulent economic times. According to analysts tracking market trends, the impact of the coronavirus on the employment market had a recessionary effect. But it is also breeding new opportunities in terms of new customer behaviour, changes in the workplace including the rise of remote work.
In the words of an HR expert, candidates with a slew of soft skills are the new darlings in the job market. Employers are looking for candidates with soft skills such as teamwork, self-motivation, interpersonal skills, adaptability, self-awareness, responsibility, and time management. Of course, many business schools also groom candidates to make them stand out in the jobs market.
Sectors, where brisk hiring is noticed, are retail, hospitality, and entertainment. Finance is also a thriving sector especially the fintech segment throwing new opportunities in fintech infrastructure, contactless payments, and trading.
The E-commerce sector also offers good placement for pass outs from the best business schools. Intake is also high in the technology sector propelled by startup accelerators, investment funds, and incubators, and research grants.
Tracing the job trends, influencers and hiring experts point out candidates with postgraduate courses stand a better chance of hiring in positions with huge employment potential in terms of employment rates, job growth, better salaries and career diversity.
Among the best master’s degrees holding huge potential for the future includes the following.
In many foreign schools, postgraduate programs are of one-year duration. The destinations for graduate and PG programmes include the United States, United Kingdom, Australia and New Zealand.
Studying abroad is also a window to the cultural development of the candidate to handle future challenges from a multicultural environment framework, gain exposure to foreign languages and emphasise practical aspects and techno savviness.
Brighter hiring opportunities have made candidates bold in joining foreign business schools as their return on investment is realized faster with a clear edge in the job market.
As for postgraduates, the data from Graduate Outcomes survey indicate that they are 18 percent more likely to join a professional role and adorn many senior posts than first-degree graduates in the career graph. A Masters degree holds a positive advantage on employment.
The chances of a ‘professional occupation’ are over 20 percent with a postgraduate qualification than stagnating in an associate role. A Masters degree will land in a job with greater professional competency and responsibility.
Many HR managers also say students combine postgraduate training with an opportunity to study abroad and reap extra benefits via programs like the Erasmus+ that offers international experience.
There is evidence that the winemaking skills from France or knowledge of international law in the Netherlands are too good in cracking many competitive job markets.
Overall a Masters could make a candidate more employable and find a better job plus advantages such as language skills, living and working in international marketplaces and adapting to new challenges.
At the earnings front also, the Higher Education Policy Institute (HEPI) has noted postgraduates seems to earn 18 percent more than mere degree holders.
A report by the OECD also affirms that the earnings for a Masters or PhD holder are 44 percent above that of a Bachelors graduate.
As for placements in graduate or postgraduate recruitments, recruitment agencies play a good role in connecting suitable candidates and employers.
Recruitment Agencies also handles certain types of the job not advertised in the market. The registration process with such agencies involve the completion of a registration offline or online and submitting a copy of the CV accompanied by and covering letter outlining the candidate’s career objectives, geographical preferences, availability and salary aspirations.
They also hold face-to-face interviews with the candidate. Once the details are fed on the database they will be used for searching relevant vacancies. When the right opening comes up, the CV will be forwarded to the client with the consent of the candidate.
Candidates including PGs have to keep their details up to date and including any new skills or qualifications for updating in the CV. Having better IT skills can get the first break and the CV must contain all graduate skills.
Recruitment agencies fast track hiring and these consultancies are proactive and update candidates via email or SMS as soon as vacancies are reported.
For a recruit, the employer brand and employee value proposition (EVP) are important attractions in taking the career journey forward. Good companies take minimum time to fill vacancies and focus on increasing candidate quality. If there is a strong employer brand the recruitment lag falls. The EVP, communicated during recruitment and internal communications will expedite the hiring process. Just as a postgraduate candidate bears the pull of a good institute, soft skills and the talent to ascend the career ladder the employer brand is a recipe to boost the bottom line. When there is a better EVP hiring talent and retaining talent becomes easy. It also works well in motivating current employees.