Good news for MBA grads. The Graduate Management Admissions Council (GMAC) this week released its annual Corporate Recruiters’ Survey, revealing that MBA hiring and salaries both are up this year.
Of employers surveyed, 67 percent expect to hire new MBAs during the coming year, up from 62 percent in 2010 and 50 percent in 2009. In terms of salary, new hires in the United States can expect to earn an average base salary of $91,433, up from $89,141 last year and $86,299 in 2009.
The recruiters’ survey also shows that companies are shifting their overall goals, GMAC reports. Fifty-eight percent of employers identified expanding operations as a key priority for their firms, up 10 percent from 2009. Meanwhile, just 36 percent of participants in the survey said their organizations were focused on overcoming economic challenges, down from 49 percent of respondents in 2010.
A separate GMAC survey of MBA graduates also showed encouraging news – that more business school students have been able to find jobs before graduation this year than last. According to GMAC’s 2011 Global Management Education Graduate Survey, more than half (54 percent) of job-seeking respondents had at least one job offer at the time the research was conducted in March, weeks before graduation, up from just 32 percent the year before.
“There is a clear connection between the optimism employers are expressing and the improving job prospects business school graduates are seeing,” Dave Wilson, president and chief executive officer of GMAC, said in a statement. “Organizations need smart managers to deal with challenges—and they rely on them to seize opportunities,” he added.
The corporate recruiter report surveyed 1,509 participants in 905 companies in 51 countries. The graduate survey was compiled from nearly 5,000 (4,794) graduating masters level business students (88 per cent of whom were MBAs) at 156 business schools.
For summary results from the 2011 GMAC Global Management Education Graduate Survey, click here.
For summary results from the 2011 GMAC Corporate Recruiters Survey, click here.
Read the full article: GMAC Corporate Recruiters’ Survey Shows Greatly Improved MBA Job Market
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