MBA compensation packages have surpassed pre-recession levels and employment rates are almost back to where they were before the economic downturn, according to research conducted by the Graduate Management Admissions Council (GMAC), which owns the GMAT exam.
The results of the 2010 GMAC Alumni Perspectives Survey, which drew responses from 3,490 business school graduates who earned their degrees between 2000 and 2010, reveal a median base salary of more than $94,500, up from the $89,000 recorded in 2007. Of respondents to the most recent survey, 93 percent were employed, up from 90 percent in GMAC’s 2009 alumni survey and just below the 95 percent level recorded in 2007.
Dave Wilson, president and CEO of GMAC, interprets the survey data to signify that employers place great value on business school graduates. “The message is clear: A quality management education positions people well to thrive in today’s highly competitive, knowledge-driven job market,” he said in a statement.
Bonuses, too, have climbed, according to GMAC. The median bonus in 2010 was $17,565, up from $10,000 in 2007.
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Read the full article: MBA Alumni Report Rising Salaries, Recovering Employment Rates