MBA graduates turning backs on finance for voluntary sector
According to data published by Harvard Business School (HBS), students graduating this year were receiving on average much less in pay than the previous year. It is thought that part of the reason for this might be students shunning the traditional financial services jobs on Wall Street for other careers. According to the school, financial services company’s hired 27 percent of this year’s graduates, much less than 2012’s figure of 35 percent, and the 45 percent back in 2008.
While more graduates are choosing technology-based careers – up six percent to 18 percent of this year’s HBS graduates – many others are choosing the voluntary sector to use their newly acquired business acumen. According to Justin O’Brien, MBA Programme Director at Royal Holloway University in London, the changes are a result of the last decade’s focus on corporate social responsibility.
He wrote recently that NGOs and charities are areas graduates are looking at increasingly, as these sectors have plenty to offer for career prospects: “Many organisational roles in the sector offer interesting challenges combined with good training and development. Pay is also on the increase, with senior management at major charities now routinely earning six figure salaries. Given the fulfilling nature of most work in the sector, it can offer satisfaction that earning a high salary for work you hate cannot compete with.”
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