Time taken by MBAs to find jobs doubles

He said the typical job search for an Esade student lasts about six months before it is successful - twice as long as two years ago.

Last year, 27% of Esade students went into financial services, many of them in London and other big financial centres. He expected the proportion would be slightly lower this year. Management consultancy and marketing were other popular destinations for students of Esade, which is one of Europe's leading business schools.

He said graduate pay had remained steady so far but might fall if the job market does not pick up. "Last year, employers were talking about an improvement in 2003. This year, they are saying it is likely to be delayed until 2004," Mendoza said in London recently.

However, students had reacted successfully by learning to network more to find work. Esade encouraged the process by organising lunches and other contacts between students and its alumni.

Mendoza said business schools had to ensure their courses remained of practical use to employers.

A strong emphasis was needed on teaching self-management and communications skills as well as technical subjects.