Placement Report Four-Year MSc Program

Transcription

1 Placement Report 2011 Four-Year MSc Program

2 Placement Report 2011 Four-Year MSc Program GRADUATE PROFILE Students in the four-year MSc program * who finished their studies by March 31, 2011, were the sample for this survey. They are referred to as graduates of 2010 because most graduated from SSE in The response rate was 50 percent. The Placement Report, published annually, is one of the services provided by Career Services, part of SSE Student Services. Graduates had a median age of 24. Fourty-one percent of the graduates responding to the survey were female and 59 percent male. The median number of jobs applied for was four, and the number of offers (also median) was two. Parallel to their studies at SSE 17 percent of the graduates pursued another university degree in for example Engineering, Law, Languages or Political Science. In addition another 7 percent of the graduates earned an additional joint degree in management, through SSE s CEMS affiliation, a global consortium of business schools in which SSE represents Sweden exclusively. Age on graduation (median) 24 Women 41% Men 59% Additional university degree pursued during MSc program: (CEMS 7%, Engineering 5%, Law 2%) 24% Total no. of respondents: 81 * The four-year MSc program was replaced in the fall of 2007 with a three-year BSc program and a two-year MSc program. 2 3

3 2010 SSE MSc GRADUATES KEEPING UP THE HIRING RATES The hiring rates are still on a high level, and even had an increase this year. Ninety-five percent of the graduates had jobs within three months of graduation. Eighty-seven percent had accepted a full-time offer or developed entrepreneurial opportunities by the graduation date. Thirty-five percent of the graduates had accepted an offer more than six months before graduation. Eighty percent of the female graduates and 91 percent of the male graduates had found employment by the graduation date. LENGTH OF TIME TAKEN TO FIND EMPLOYMENT All Women Men > 6 months before graduation 35% 17% 48% 4 6 months before graduation 22% 23% 21% 2 3 months before graduation 20% 27% 15% 0 1 month before graduation 10% 13% 7% 0 1 month after graduation 7% 10% 5% 2 3 months after graduation 1% 0% 2% 4 6 months after graduation 4% 7% 2% > 6 months after graduation 1% * 3% LENGTH OF TIME TAKEN TO FIND EMPLOYMENT WITHIN DIFFERENT INDUSTRIES WAYS TO FIND JOB MAIN WAY TO FIND JOBS Investment Banking Finance/Banking, other Management Consulting Consumer Products > 6 months before graduation 20% 50% 58% 19% 4 6 months before graduation 20% 10% 25% 27% 2 3 months before graduation 30% 20% 17% 27% 0 1 month before graduation 10% 9% 0 1 month after graduation 10% 9% 2 3 months after graduation 10% Company presentations on campus, ad on SSE Placement Board or from another recruitment center/ company, and previous internship were the four main ways to find employment. Acquaintances and former employment were also frequently used channels. Finding a job through an ad from another recruitment center or through acquaintances are channels used more frequently by female graduates while company presentations, ad on SSE Placement Board and previous internship were more common among male graduates. Company presentations Ad of another recruitment center or company website Previous internship Ad on SSE Placement Board Acquaintances Former employment Inquiry by company Inquiry with company Through an SSE dept. Ad in newspaper Men Women 4 6 months after graduation 10% 10% > 6 months after graduation 9% 100% Started their own busines Thesis Other % Number of respondents Women Men 4 5

4 POPULAR INDUSTRIES Management Consulting, Investment Banking, Finance/ Banking and Consumer Products are the four industries attracting the highest share of SSE graduates. Finance/ Banking, other is almost equally popular among men and women while Investment Banking and Management Consulting are mostly preferred by men and Consumer Products by women. PLACEMENT BY INDUSTRY PLACEMENT IN SWEDEN AND ABROAD LARGE COMPANIES MOST POPULAR Large companies continue to attract SSE graduates. Thirtythree percent chose to start their career in a company with more than 10,000 employees. This year, however, we can see an increase in the interest of smaller companies. Twenty-one percent chose a company with employees. Working in the most popular industries is obviously demanding, even though the hours required have decreased in some industries. Investment Banking and Finance/Banking, other are requiring 5 hours less/week this year than last year. All Women Men GRADUATES EMPLOYED: in Sweden Abroad SHARE OF MAJORS WITHIN DIFFERENT INDUSTRIES SIZE OF COMPANY Management Consulting 16% 3% 24% Consumer Products 15% 27% 5% Investment Banking 13% 3% 21% Finance/Banking, other 13% 13% 14% Manufacturing 7% 7% 7% PR/Information/Market Comm./Advertising 7% 10% 2% Other consulting 5% 7% 5% Accounting/Audit 4% - 7% Pharmaceutical/Biotech Ind. 4% 7% 2% Media/Culture 3% 3% 2% Computer/Information Technology 3% - 5% Education/Teaching 3% 7% - Power/Energy 1% - 2% Public Services/Organizations 1% - 2% Telecommunication 1% 3% - Construction 1% 3% - Other 3% 7% 2% Management Consulting 18% - Consumer Products 16% 9% Investment Banking 15% 9% Finance/Banking, other 13% 18% Manufacturing 8% - Other consulting 6% - PR/Information/Market Comm./Advertising 5% 9% Education/Teaching 3% - Media/Culture 3% - Pharmaceutical/Biotech Ind. 3% 9% Accounting/Audit 3% 9% Construction 2% - Computer/Information Technology 2% 9% Power/Energy 2% - Public Services/Organizations - 9% Telecommunication - 9% Other 1% 10% 100% 100% % Investment banking Finance/Banking, other Management Consulting Consumer Products MAJORS Management Marketing Accounting and Financial Management Finance Economics Number of Employees All Women Men % 7% 7% % 27% 17% % 9% 9% % 13% 12% % 7% 24% > % 37% 31% NUMBER OF WORKING HOURS PER WEEK Lower Quartile Median Higher Quartile Investment Banking Finance/Banking, other Management Consulting No of resp. 72 No. of respondents Consumer Products

5 LOCATION OF PLACEMENT Interest among SSE graduates in pursuing an international career remains high although the percentage choosing their first job abroad is almost 10 percent lower than last year. Fourteen percent chose to accept their first job abroad. Europe is attracting most of them, but some women also chose Asia for their first job. TOTAL EUROPE 11% ASIA 3% SALARIES BY INDUSTRY The median monthly basic salary increased to the range of 30,000-34,000 SEK. Management Consulting continued to be the highest payer, with a median range increasing up to SEK 38,000 42,000. Investment Banking and Finance/Banking other had a median range of SEK 30,000-34,000 which is in line with last year s salary figures. The salary levels abroad remained high. The median range abroad is SEK 34,000-38,000, while in Sweden the median range is SEK 26,000-30,000. BONUS BY INDUSTRY GRADUATES RECEIVED Yearly bonus Sign-on bonus Investment banking 80% 70% Finance/Banking, other 70% 60% Management Consulting 91% 72% Consumer Products 50% 50% SWEDEN 86% Bonus is often added to the basic salary within Management Consulting, but those employed in the Investment Banking and the Finance/ Banking, Other sectors received bonuses more often than last year s graduates. SALARIES BY INDUSTRY SALARIES IN SWEDEN AND ABROAD GRADUATES EMPLOYED IN: GRADUATES EMPLOYED: WOMEN MEN Monthly Base Salary All Investment Banking Management Consulting Finance/ Banking, other Consumer Products < 18 KSEK 1% % Monthly Base Salary in Sweden Abroad < 18 KSEK 2% - ASIA 7% KSEK 5% % KSEK 5% 9% KSEK 14% 10% 8% - 9% KSEK 11% 27% EUROPE 10% EUROPE 12% KSEK 29% 20% - 40% 46% KSEK 19% 40% 25% 10% 9% KSEK 32% 9% KSEK 20% KSEK 12% 10% 8% 20% 9% KSEK 10% 27% KSEK 5% - 34% KSEK 5% KSEK 6% 10% 8% 20% KSEK 7% 9% KSEK 5% 10% 17% KSEK 3% 19% SWEDEN 83% SWEDEN 88% KSEK 3% % SEK >58 KSEK 1% KSEK 3% KSEK - - >58 KSEK 2% - 100% 100% 100% 100% No. of respondents No. of respondents

6 MAIN REASON FOR CHOOSING THIS EMPLOYMENT When asked to state the key reason for their choice of employment, female graduates identified type of work/ responsibility and professional/personal development as number one. Male graduates also stated these reasons, but also career opportunities as most important for their choice of employment. Neither male nor female graduates stated a high salary as their most important motivation for accepting an offer. MAIN REASON FOR CHOOSING THIS EMPLOYMENT Type of work/responsibility Professional/personal developm. Career possibilities Company culture/values Lack of options/alternatives Company image/reputation Location SIGNIFICANCE OF MAJOR SUBJECT FOR THIS EMPLOYMENT The 2010 graduates give their major subject less significance for employment than did the 2009 graduates. Women give the subject much less importance than did the women graduating in Half of the responding graduates (49%) had an internship during their studies. Almost all of these (94%) claim that the internship had an impact on getting their job. Most graduates (68 percent) found their occupation corresponded well to their level of education. Nearly one-fifth, however, think that their position requires fewer qualifications. Nearly half of the graduates have used SSE Career Services in some way. SSE Career Services offer Online libraries (Wet Feet, Vault etc), CV and application guidelines and skills courses. Almost all found the services to be effective in their job search. ABOVE EDUCATIONAL LEVEL 10% BELOW EDUCATIONAL LEVEL 18% Other OCCUPATION IN RELATION TO EDUCATION SIGNIFICANCE OF MAJOR SUBJECT FOR THIS EMPLOYMENT BESIDE EDUCATION 4% Women Men All Women Men Very Significant/Significant 56% 57% 55% Minor Significance 44% 43% 45% % CORRESPONDS TO EDUCATION 68% TOVE-LIA JOHANSSON I work as an account manager for the Nordic market at Google in Dublin. SSE gave me a thorough understanding of the business world from a variety of perspectives. Today I handle clients in many different industries, and to be able to quickly identify the key drivers in each industry is crucial for what I do. I also had the possibility to study one semester abroad at the MBA-program at the University of North Carolina which encouraged me to start a career abroad. I chose SSE because I wanted to get a broad and solid education that would prepare me for a future career, regardless if it would be within marketing, finance, accounting or something else. The people I met at SSE were talented, intelligent, eager to learn and continuously challenging themselves. I learned so much from the people I studied with and became friends with at SSE. Apart from studying lots of time was spent in the student association which I believe is one of the best things with SSE. The student association allows you to put many of the theories you learn in school into practice. CHARLOTTE EKELUND After my graduation I started as a Sales and Marketing Graduate Trainee for Diageo, the world s biggest premium spirits supplier, holding brands such as Baileys, Smirnoff, Johnnie Walker, Guinness and many more. I have a lot to thank SSE for. Four things that SSE and the exchange semesters via SSE and/or CEMS have given me, which will always be useful are: 1) A solid theoretical foundation, applicable across different business functions. 2) A strategic approach to problem solving. 3) Intercultural experiences, especially through the CEMS experiences abroad and the diverse groups of students. 4) Project Management skills, big thanks to the student association, where only ones imagination is the limit. What an extraordinary fantastic platform to grow on, with people you like! I chose SSE because it is the best business school in Sweden. And having studied at and with students from multiple good schools internationally; I d argue one of the very best in Europe. What I did not know then: the motivation among our students is just extraordinary. What s special about it besides the high level of motivation among the students (which makes it more fun to study) is that we help each other out. Competition is secondary. That has not always been the case at other schools where I have studied. MARCUS JENNEKVIST I work in the investment banking division at Carnegie in Stockholm, doing M&A and ECM transactions. I chose to study at SSE because it is the most well-reputed school in the country and one of the best in Europe, especially within Finance which was my major. My education at SSE provided me with among other things a solid theoretical framework, the ability to use that knowledge in practice and to work efficiently in project teams. I find my time at SSE extremely rewarding since I had the opportunity to develop skills that would prove useful in work life, while studying in an inspiring environment together with many ambitious students. I also appreciated meeting many future potential employers during my time at SSE, and to learn more about what they do and what they look for in students. Having the opportunity to study abroad, at Bocconi University in Milan, within my education at SSE is also something that I value highly

7 The Stockholm School of Economics The Stockholm School of Economics (SSE) is the premier business school in Northern Europe. Since 1909, SSE has educated talented men and women for leading positions in business and the public sector. The School offers bachelor s and master s degree programs and highly regarded Executive Education and MBA programs. SSE also has schools in Latvia and Russia. The School has earned a reputation for excellence, both in Sweden and around the world. It is fully accredited by the European Quality Improvement System (EQUIS), certifying that all of its main activities teaching as well as research meet the highest international standards. SSE is also Sweden s representative in CEMS The Global Alliance in Management Education. Only one business school in any given country can be admitted to CEMS, a forum that brings together 28 leading business schools and some 60 multinational corporations collaborate. SSE offers three bachelor s programs: Bachelor of Science in Business and Economics Bachelor of Science in Retail Management Bachelor of Science in Economics and Business, Riga (in English) SSE offers four master s programs, with course selection and curriculum completely in English: Master of Science in Business & Management Master of Science in Economics Master of Science in Finance & Accounting Master of Science in General Management aimed at students with bachelor s degrees in subjects other than Business or Economics SSE offers an Executive MBA a specific type of accredited MBA for working professionals with an academic degree. The School also offers doctoral and Executive Education programs and operates in Stockholm, Norrtälje, Riga and St Petersburg. The Stockholm School of Economics Sveavägen 65 Box 6501 SE Stockholm Phone: info@hhs.se