POSITIVE EMPLOYMENT TRENDS FOR MBA GRADUATES
Jan 19th 2021 - 07:1311 0
Two reports released in 2018-19, 2018 MBA Career Services and Employer Alliance Fall Recruiter Benchmarking Report and Graduate Management Admission Council’s (GMAC) Corporate Recruiters Survey 2019, have highlighted the strong employment outcomes for graduates of full-time MBA and Master of Science in business analytics (MSBA) programs. The reports prove that employment trends across the world have only good things in store for MBA graduates.
After surveying more than 1,200 global employers, GMAC’s report emphasized the trend of MBA graduates receiving the highest ever median annual base starting salary in 2019 after inflation adjustments. At $115,000, MBAs’ median salaries are now more than double those of new bachelor’s degree hires ($55,000).
Of the MBA Career Services and Employer Alliance’s (MBA CSEA) 30 responding employers, 82 percent identify internship programs as their primary recruiting method — good news students who receive a summer internship. In terms of the average percentage of hires by recruiting method, 41 percent of employers cited internship programs, followed by job postings at 21 percent and on-campus interviews at 20 percent.
GMAC’s survey showed that startups expect a large increase in hiring rates of MBAs — 45 percent hired an MBA in 2018 while 62 percent hired MBAs in 2019. Hiring rates of larger companies stayed consistent with previous years, with 2019 seeing more than 90 percent of Fortune Global 100, 500, and for-profit, public companies planning to employ recent MBA grads.
Consistent across both MBA CSEA and GMAC findings was an increased interest in recruiting graduates of programs such as MSBA degree. Almost half of the recruiters surveyed reported hiring from data analytics specialized master’s programs. The hiring demand of these graduates from these data-intensive programs is strongest in technology, energy and consulting employers, especially with over two-thirds of corporate recruiters in the Asia-Pacific and European regions planning to do so.
The surveys also demonstrated companies ranging from small to large, startup to Fortune Global 100 and across every major industry project growth in hiring of Master’s of data analytics graduates along with consulting firms and startups, with both projecting 20 percent growth.
Hubert ([email protected]) is the Founder of MBA Center, an elite test prep and admission consulting organization collaborating with the best test prep centers in Europe and India. Over the last 24 years, Hubert has developed the World MBA Tour and co-founded ACCESS MBA. Hubert’s passion is teaching, though. Holder of a perfect 800, Hubert has trained thousands of GMAT students, written and developed over 50 TOEFL, TOEIC, IELTS, SAT, and GMAT prep books, software and e-learning platforms.
Hubert has the most impressive track record in the industry with 3,000+ MIM, MIF, MBA, EMBA, and Ph.D. students accepted in the best universities in the world: