Japan’s graduates choose stability, career development and work/life balance in the services sector
For the past 5 years one of Japan’s mega banks has always occupied the number 1 spot as the employer most popular with Japan’s new graduates. This is the first time in 9 years that the airline ANA has been the most popular in Toyo Keizai’s annual poll of online users of its graduate recruitment website.
The airline is particularly popular amongst female graduates, for a number of reasons. Not only are cabinet attendants considered as being part of the graduate recruitment track, but there has also been an increase in the number of women who are put onto the global staff management track. Its training and development programme is also highly regarded. Toyo Keizai adds there has been an overall increase in popularity of travel related companies such as JTB (Japan Travel Bureau – at #7) and JAL.
Financial services dominate top 10
Nonetheless, financial services employers continue to be popular – MUFG continues in the #2 spot and although Mizuho has fallen from #1 to #3 and Sumitomo Mitsui Banking Corp has dropped from #9 to #19, Nomura is at #4, Nippon Life at #5, Daiwa Securities at #6 and Sompo Japan Nipponkoa (insurance) at #8.
Graduate popularity rankings are keenly watched by the companies themselves. Although lifetime employment is fading slowly, graduate recruitment is still seen as the the “one time chance” of recruiting and being recruited for many employers and employees. The relative movements show the reputation of the companies and also the trends in Japanese society and the economy.
Electronics and trading companies losing popularity
So it’s not surprising that electronics companies, trading companies and Dentsu (particularly after the suicide of one of its graduates a couple of years’ ago) have all slipped in popularity. Itochu is the top ranked trading company at #26 (down from #17 the previous year). Dentsu is at #41, down from #35 whereas its rival Hakuhodo has risen from #32 to #14. Mitsubishi Corp is at #44 down from #31, Marubeni at #50, up from #53 but Mitsui has dropped to #85 from #42 and Sumitomo Corp from 62 to 87. As previously blogged, trading companies offer the highest starting salaries, but also the longest working hours.
Amongst the electronics companies, Sony is recovering, at #127 up from #162 but Fujitsu has dropped from #170 to #210, Canon is at #227 down from #126, Mitsubishi Electric down to #154 from #104 and Panasonic is at #156, down from #88. Hitachi is not much changed – at #139, compared to #136 the previous year and NEC only just makes it into the Top 300, at #292, down from#238 the previous year. Toshiba does not rank at all, unsurprisingly. In fact Toyo Keizai’s most recent cover story is “Where can all the 160,000 Toshiba employees go?” Apparently so many are fed up with Toshiba’s slow death, that they are looking elsewhere for employment, but of course the Toshiba name is tarnished.
Automotive and internet sectors improving but still not in the top half
Automotive companies, still seen as Japan’s strongest brands outside of Japan, seem to be less strong in attracting domestic graduates. Apart from Toyota (at #57, up from #78), the other manufacturers do not even make it into the top half of the rankings – Honda is at #171 down from #154 the previous year, Mazda up to #187, from #232 the previous year, Denso, the major automotive parts supplier in the Toyota group, is at #193, up from #237, Nissan down to #273, from #217 the previous year.
Technology “newcomers” seem to be regaining popularity but are not back in top half either – SoftBank is at #186, up from #234, Rakuten at #205, up from #225, Google at #278 up from #323 and Amazon at #283 up from #394.
So overall, Japan’s graduates seem to be still seeking stability, work life balance and career development, but in the services sector – which seems a pretty fair summary of Japan’s current economic and social situation.
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