The far-reaching changes in the German economy are placing new demands on university graduates and their future employers. In the transformation process of the coming years, skills that students develop during stays abroad will become increasingly important. This is shown by a recent study conducted by the German Economic Institute (IW) on behalf of the German Academic Exchange Service (DAAD).
Bonn/Germany, February 13, 2025 ‘The economy and society in Germany are facing major challenges: Innovative solutions need to be found for demographic change, increasing digitalisation and rapid decarbonisation. In order to survive in global competition, the economy needs university graduates as specialists and managers with a high degree of independence and problem-solving skills,’ said DAAD President Prof Dr Joybrato Mukherjee. ‘International experience during your studies demonstrably strengthens these competences. We are therefore pleased that the IW study shows how fundamental these skills are for the economic success of companies.’
For the study, the IW Cologne surveyed 823 companies from various sectors. The results show that experience abroad during studies plays a decisive role in the recruitment of university graduates, particularly in companies that categorise themselves as ‘innovative’ or ‘international’. In addition to professional qualifications, companies primarily value the three skills mentioned as well as conscientiousness and openness to new ideas.
Intercultural experience strengthens competitiveness
From the company’s point of view, stays abroad and the experience of foreignness gained there increase understanding of other ways of working and cultural issues. These intercultural competences therefore strengthen the competitiveness of companies. They are also essential for the successful management of multinational teams, which are playing an increasingly important role in the German economy. ‘From our studies on international mobility, we know that after an Erasmus+-funded stay abroad, young people both appreciate the achievements of the European integration process in general and are better prepared to work successfully in a team with colleagues from different countries in their professional lives. It is very pleasing that the IW study now shows that companies value and demand precisely such skills,’ said Dr Stephan Geifes, Director of the National Agency for Erasmus+ University Cooperation at the DAAD (NA DAAD). Accordingly, the IW is in favour of strengthening the Erasmus+ programme.
More experience instead of studying as quickly as possible
The concern often expressed by students about declining career opportunities if they extend their studies by spending time abroad is unfounded: According to the study, companies attach little importance to whether applicants extend their studies through a period of practical experience or a stay abroad or whether they adhere to the standard period of study. Innovative and international companies favour applicants with experience abroad and value this more highly than a quick degree. Especially for management positions, competences gained abroad are a great advantage from the company’s point of view.
Background to the study
The study was conducted by the German Economic Institute (IW) on behalf of the German Academic Exchange Service (DAAD) and funded by the Federal Ministry of Education and Research (BMBF). The survey of 823 companies was conducted as part of the IW Personnel Panel between March and May 2024 and was representatively weighted according to company size and sector.
Original publication:
(https://eu.daad.de/medien/eu.daad.de.2016/dokumente/service/medien-und-publikationen/studien-und-auswertungen/unternehmensbefragung_2024_25_daad_iw.pdf)
PDF der IW Studie
further Information:
(https://eu.daad.de/service/auswertung-und-statistik/studien-und-auswertungen-der-na-daad/daad-iw-studie-2024/de/88162-die-bedeutung-studienbezogener-auslandsaufenthalte-im-transformationsprozess-der-deutschen-wirtschaft/)
Übersichtsseite zur IW-Studie und Interview mit Prof. Dr. Axel Plünnecke vom IW Köln
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