Latest news with #jobMarket
Khaleej Times
2 days ago
- Business
- Khaleej Times
UAE: Master's degree still valuable? Employers say no in survey
A recent global survey has reignited a debate over the value of Master's degrees, with hiring trends showing employers are placing growing importance on practical experience and job-ready skills over academic credentials — a sentiment that is increasingly echoed in the UAE. Experts stressed that degrees are no longer a golden ticket, rather, they are one of many tools in a candidate's toolkit. According to the survey conducted by Resume Genius involving 1,000 hiring managers in the United States, 52 per cent said that employees with Master's degrees perform no better than those with a bachelor's degree and two years of experience. In fact, 10 per cent said the performance was worse. Yet, many still offer higher pay to candidates with advanced degrees, highlighting a lingering tension between perceived value and compensation expectations. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Adaptable skillsets preferred This global trend resonates strongly within the UAE's evolving job market. Local educators and hiring experts are reporting a significant shift in mindset among employers, with a growing preference for candidates who bring hands-on experience and adaptable skillsets over traditional academic qualifications. 'Over the past decade, the perceived value of a Master's degree has undergone a significant transformation shaped by evolving labor market demands, technological disruption, and shifting societal expectations,' said Dr Adam Fenech, Provost at Canadian University Dubai. 'Traditionally seen as a marker of academic prestige and a pathway to career advancement, the Master's degree is now increasingly evaluated through a more pragmatic lens.' Educators like Dr Fenech are observing a surge in demand for micro-credentials, certifications, and modular learning. He explained that while traditional graduate programs still hold merit —particularly in cultivating integrative intelligence and ethical awareness — flexibility and real-world applicability have become critical to the educational value proposition. In the UAE, where high-growth sectors such as technology, healthcare, and engineering are booming, higher education institutions are retooling to meet the demand for skill-first education models. 'There is a clear shift from valuing traditional academic prestige to prioritising practical, skill-based credentials,' said Abdul Razzak, Manager of Career Services at BITS Pilani Dubai Campus. He noted that a 2023 LinkedIn report found 75 per cent of hiring managers now prioritise skills over formal degrees, while the World Economic Forum forecasts that over half of the global workforce will need reskilling by 2025. 'At our institute, the Practice School program offers students real-world industry exposure through structured internships, helping them build practical skills and workplace readiness. Meanwhile, the Career Services Department provides micro-certifications in high-demand areas such as AI, data analytics, PMP, Six Sigma, and cybersecurity—aligned with evolving industry needs. Together, these initiatives equip students with strong academic foundations and the hands-on skills essential for today's dynamic job market,' added Razzak. Industry professionals pointed out the UAE's dynamic and diverse workforce has also shaped how professionals approach postgraduate education. Degree not for prestige Education consultants say that students now pursue Master's degrees not to check a box for employers, but to realign their careers with market trends or gain access to broader industry networks. 'For instance, someone with a background in engineering might now opt for a Master's in data analytics or business strategy to realign with evolving market demands,' said Varun Jain, CEO of UniHawk. 'Similarly, professionals in finance may pursue an MBA after gaining a few years of experience, not just for academic growth, but for the networking opportunities, case study exposure, and industry insights such programmes offer.' In the private sector, recruiters see first-hand how employers are recalibrating their hiring strategies. 'From my experience in recruitment and what we see across industries, employers are weighing relevant experience much more heavily than academic qualifications,' said Aws Ismail, General Manager at Marc Ellis, Dubai. 'They're looking for plug and play talent… A Master's might help open doors or slightly distinguish a candidate's profile, but what really matters is a candidate's practical skills, mindset, and ability to use technology as an enabler." Echoing that sentiment, Nickie Wilson, Executive Director of Genie Recruitment, noted that very few clients specifically request candidates with Master's degrees. 'The only exception tends to be tech startups or VC-backed companies who occasionally request an MBA from a globally recognised institution. But overall most of our clients don't even require a bachelor's degree, let alone a Master's,' she said. 'Personally, I've always believed that pursuing a Master's should be a decision made later in life… Experience in most cases trumps education," she added.
Forbes
3 days ago
- Business
- Forbes
Top 10 High-Paying Apprenticeship Programs
Why apprenticeships are rising in popularity. In a world that increasingly prioritizes real-world skills over traditional college degrees, apprenticeships might be your ticket to the hidden job market - especially for Gen Z job seekers. While times are tough for recent college grads, the future looks bright for those with experience-building apprenticeships - especially in some trade roles where AI isn't a threat. For folks who want to earn while you learn, skip the mountains of student debt, and start building a solid career foundation, apprenticeships (not internships) might be your best move. An apprenticeship is a structured, paid training program that combines on-the-job learning with instruction, via direct mentoring, classroom training, or other types of guidance. Registered apprenticeships are overseen by the U.S. Department of Labor. Think of apprenticeships as a 'learn by doing' approach to a career, where your role is driven by an employer, with industry-recognized credentials driving your experience and propelling you towards a career. (For anyone who's experienced the dreaded uncertain internship, where you're wondering what you're supposed to do next while you're on a Starbucks run for the office staff, put down those lattes and consider your options). Unlike traditional academic paths, apprenticeships hire you as an employee and train you directly for a specific job. As college becomes more and more expensive every year, many Gen Z job applicants are wondering if it's worth the time and money. Apprenticeships can fast-launch your career, bypassing student loan debt and helping you to build your future. According to the website, there are over 800,000 apprenticeship program participants in the U.S. today. Programs improve productivity, and reduce turnover, as employers are investing in the future of work. Today, employees are challenged with massive trust issues as even highly-profitable companies like Microsoft announce layoffs. While there's no guarantees in life, 90% of apprentices continue employment after completing an apprenticeship. The advantages for employers are many, but they are built on a mutual investment in the apprentice's future. The Bureau of Labor and Statistics says that apprenticeships grew by 64% in the U.S. in the 10 years leading up to 2022. According to data from 2023, there are over 27,000 apprenticeship programs that are creating new opportunities for the future of work. For example, Blue Cross Blue Shield of South Carolina (BCBSSC) began running its entry-level training program (ELTP) in the late 1990's. Today, 22% of the company's leadership staff were trained in the ELTP, and attrition rates for apprentices are 70% lower than for employees hired from other channels. Plus, the average tenure for the BCBSSC apprenticeship program is 10 years. Apprenticeships are perfect for: On average, the starting wage for an apprentice is $20/hour, with wages increasing over time. Over 92% of apprentices retain employment, earning an average salary of $80,000 in a few years. Apprenticeships have expanded well beyond construction and the trades. While those fields are still strong, new sectors are now offering high-quality programs for digital-native generations. Here are some career fields worth exploring for apprenticeships: Due to skills gaps, there is an expected shortage of 2.1 million unfilled manufacturing jobs in the United States by 2030. Today, manufacturers are actively trying to attract Gen-Z workers to fill these roles, but manufacturers are filling only six out of 10 job openings, according to an analysis by global management consulting firm McKinsey & Company. For Gen Z, moving from the 'anxious generation' to the 'toolbelt generation' might be a way to capitalize on market needs, if your skills match up. The apprenticeship programs below offer high-paying careers, according to sources from the U.S. Bureau of Labor and Statistics (BLS) as well as individual websites, industry-specific apprenticeship networks, and job aggregators like Glassdoor and Indeed (as noted below): The value of a college education is a source of constant debate, and employers are encouraging upskilling and real-world experience in favor of advanced degrees. For job seekers today, creating the future of work might begin with exploring an apprenticeship — where you can earn while you learn.
Reuters
3 days ago
- Business
- Reuters
German manufacturing sees tentative signs of hope, PMI shows
June 2 (Reuters) - Germany's manufacturing activity fell in May, although the sector saw a third straight monthly increase in output driven by a continued rise in new export orders, according to a survey released on Monday. The headline HCOB Germany Manufacturing Purchasing Managers' Index (PMI) registered 48.3 in May, slightly down from April's 48.4. A reading below 50 indicates contraction, marking the thirty-fifth consecutive month of sub-50 readings. Despite the overall PMI remaining in contraction territory, production volumes increased for the third month in a row, supported by a second consecutive monthly rise in new export orders. International sales grew at a modest pace, with stronger demand reported across Europe and increased sales to the U.S., partly driven by stockpiling ahead of potential tariff increases. "Most people have got so used to gloomy headlines from the industrial sector that the good news often slips under the radar," said Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank AG. "Production has now increased for the third month in a row, and foreign orders have been on the rise for two straight months." Employment continued to decline, although the rate of job shedding was the softest since January 2024. Purchasing activity came close to stabilising, marking the smallest decline since mid-2022, and contributing to a slower fall in input stocks. On the price front, average factory gate charges showed a renewed decline, driven by competitive pressures and a further steep drop in input costs. Input prices eased again, influenced by factors such as lower oil prices and a stronger euro. Business expectations rebounded in May, reaching the highest level since February 2022, buoyed by hopes of increased public sector spending and a potential trade agreement between the U.S. and EU.
Forbes
4 days ago
- Business
- Forbes
What To Do In Your First 30 Days Post-Layoff (That Most People Miss)
Start building immediately after receiving layoff news; don't wait for a job offer first You've just received news that your role is on the block for elimination. Within the next few hours or days at most, you're about to be thrust into the unrelenting world of unemployment. What do you do next over the coming hours, days, and weeks mean everything and can determine your career success, not just for the here and now, but for the long-term. They can make all the difference between you remaining unemployed and broke for months or even years, or actually being able to rebound and rebuild your life and career from the scraps you've been handed. If you've been searching for advice on the internet on what to do after you've been laid off, you've probably read about the importance of doing things like negotiating your severance package, filing for unemployment benefits, or refreshing your resume and LinkedIn profile. But there are some other things you need to do within your first month after being laid off, which are vital to your career success. Many professionals wait until it's too late to take these actions, and because they fail to take these steps right away, their unemployment situation worsens. To avoid falling into this trap, here are some things you can do immediately to protect your finances and career, now that you've been laid off: Neglecting to start building immediately has to be the number one most fatal mistake professionals make after being laid off, because it puts you in a position where you're more vulnerable to outside forces like industry changes, the volatile job market, etc. And you're now in a position where it's easier to say yes to opportunities that do not serve you because after all, you need to pay the bills. As a result, you're taken advantage of and ghosted by fake employers or by shark recruiters and hiring managers who can smell that you're desperate and offer you bogus or questionable job offers and compensation packages. So, instead of waiting for the perfect job opportunity to appear, be open and start monetizing what's already in your hands. Leverage your brain capital--the wealth of skills and expertise you've acquired from your job. There's nothing worse than the regret of being turned down for job opportunities and realizing that you could have been well on your way towards making money all along if only you started earlier. Never allow your skills to go dormant because you're waiting for an employer to see and value them. Dormant skills means dormant money. You're literally sitting on gold. So begin today and start building momentum, even if it's just a small service that you're offering directly to your LinkedIn network or Fiverr and Upwork. It could be part-time. It doesn't need to consume your 9-5 hours. But the most important thing is that you're building something. Even if it's small money, it helps when nothing else is coming in. And if you're faithful with it and can improve what you already have, then just $300-$500 a week from your existing skill set can prove to be a lifesaver and can multiply to $1,000, $2,000 or even $3,000 a month. It might even become your full-time business pursuit. Panic applying is when you apply for jobs in a hurry because you're anxious. You use every waking moment to hit the 'quick apply' or 'easy apply' button on Indeed or LinkedIn. And you send so many applications that you're unable to keep track of where your resume has been. This method is not only ineffective, but it's health destroying. It leads directly to burnout and increases your anxiety because you feel like you're chasing your tail. But more than this, panic-applying hurts your career success because you're not able to put thought and depth into each application. It's not possible to customize and tailor your resume and application answers when you're hitting send to 200 job applications a week. Instead of panic-applying, try this approach: Finally, you might have been in your job for so long that you're totally out of touch with the current job market, the evolution of your industry, or what skill sets are in demand right now. The worst thing you can do at this point is to carry on job-searching like it's five, 10, or 15 years ago. So much has changed in the global job market, especially within the past two years since AI has gained global traction. In light of these changes and the constantly evolving needs of employers demanding fresh, updated skill sets, it's essential that you rebrand yourself and reframe your value by upskilling for in-demand skills. Focus on relevant skills like problem-solving, analytical thinking and data analysis, communication skills, applied AI, and cross-functional leadership and remote working skills. Layoffs are the perfect opportunity to reset your career so you don't remain stagnant or too ... More comfortable to progress The first 30 days after being laid off are critical to your career. Your future is in your hands. For many people, it can feel like a disaster, like it's the end. But not so with you. You now understand that layoffs are simply a career reset, and that they are simply the page turning to a new chapter. Now that you have more time on your hands, this is your chance to start building something new, strategically align yourself with decision-makers who can pour into your career growth, and prepare yourself for the future of work by upskilling for what's in demand today and what will be needed over the next few years.
South China Morning Post
6 days ago
- Business
- South China Morning Post
China already had a graduate jobs crisis. The trade war is making it worse
Even a master's degree from a top Hong Kong university and a string of impressive internships have not been enough to help Jethro Chen land a decent graduate job. The final-year marketing student sent out dozens of applications to Chinese internet and consumer goods companies last year, but got nothing back except a folder full of polite rejection emails. With his attempts to land a marketing internship in Hong Kong also ending in failure, Chen has been forced to push back his graduation from the Chinese University of Hong Kong by several months while he regroups. 'Fast-moving consumer goods just aren't selling,' he sighed. 'Consumers have become more rational and cautious with their spending.' Chen is one of tens of millions of highly educated young Chinese who are facing unprecedented barriers to launching their careers, as a perfect storm of domestic and global economic headwinds leads Chinese employers to slash hiring for entry-level roles. China's youth unemployment rate shot up during the Covid-19 pandemic and has remained high ever since, with the country's economy – hamstrung by weak consumer demand and a prolonged real estate slump – struggling to create enough high-quality jobs to absorb a ballooning number of graduates.
