Asia is where all the action is! This statement is true as far as MBA recruitment and placements by the global banking and investment firms are concerned. The best brains in the best business schools in US and UK are being hired to work in the emerging economies of Hong Kong, Singapore and Mumbai. And, guess what? The newbies, those who have recently graduated from the best MBA universities are readily heading east, with a six figure job and their backpacks.
The popularity of the Asian centers of the global investment banking firms such as Goldman Sachs, HSBC etc is on account of following:
- Higher growth opportunities in the emerging economies than in the developed economies of the world where the job market is almost saturated
- Easy and smooth tax regulations, which leave people with higher disposable income
- Government regulations and restrictions are more relaxed in these economies, providing the managers with much coveted flexibility
- Lower cost of living as compared to the cities like London and New York City
- Ideal locations for bankers with families
- No stringent visa formalities required to be fulfilled
- Good infrastructural facilities
- Greater job stability
In addition to the global corporations, the local corporate giants have also beefed up the demand for MBA professionals from the best business schools, often luring them with upfront cash bonuses and high pay packages. Those employed with the globally recognized banking giants received annual bonus of more than 40 percent for the previous year, which is really good, keeping in view the lower cost of living in the region and less taxable income.
The business schools in the region are also attracting MBA aspirants from around the world. The MBA universities in China, Singapore and India rank in the top 15 business schools in the world and the placements at these hallowed portals of learning has increased impressively over the past couple of years. At the Indian School of Business placements, the corporate hiring for the batch of 2011 went up by 22 percent, with the average salary offered being around $44,000.