Although middle managers are still suffering from corporate downsizing, the job market for top executives brightened last year both in the U.S. and overseas, reports Korn/Ferry International, an executive search firm. Its worldwide survey of major clients indicates that, for the first time in five years, demand for senior executives earning at least $100,000 a year rose in all four international regions it covers.
Last year's gains in top-management hiring ranged from 4% in the U.S. and 7% in Europe to 9% in Asia and 11% in Latin America. By contrast, demand for senior executives in 1991 fell 9% in the U.S. and 23% in Europe. The firm attributes Latin America's strong showing last year to rapid economic gains in such countries as Mexico and Chile and the need to prepare for the North American Free Trade Agreement.