MBA Hiring Projections: It’s Time To Go To Business School
If you’re growing weary of all the MBA data forms and essays and interviews and anxiety—keep your eyes on the prize! That light at the end of the tunnel? Well, recent hiring projections from the Graduate Management Admission Council (GMAC) suggests it just keeps getting brighter.
Each November, GMAC conducts a short year-end poll of employers, asking them to reflect on what business school graduate hiring actually looked like that year and what they anticipate hiring to look like in the year ahead. GMAC’s most recent Year-End Poll of Employers Report, released yesterday, paints a promising picture of hiring trends for upcoming crops of graduating MBAs.
“We continue to see optimism—companies are still optimistic about the future, and they are expressing that in their desire to hire business school graduates,” says GMAC Director of Research Gregg Schoenfeld, one of the report’s author. “The overall message here is that it is a good time to go to business school and, from prospective candidates’ perspectives, it’s a good time to move forward on that goal to apply.”
Indeed, nearly eight out of every 10 employers (79 percent) say they expect to hire MBA graduates in 2017. That’s up from the 68 percent who hired MBAs in 2016. Of those planning to hire MBAs in 2017, almost as many (78 percent) say they plan to hire as many or more MBAs as they did the year before.
Not only do more employers expect to welcome MBAs into their ranks—the majority plan to pay them more as well. More than half—58 percent—said they expect to increase starting salaries for MBAs in 2017 at or above the rate of inflation. Another 40 percent report that they will maintain 2016 salary levels.
Explaining this bullishness, in part, is employers’ confidence in the value MBA graduates bring. In the most recent poll, 96 percent of responding recruiters said that hiring recent business school graduates creates value for their companies. And 71 percent cite bringing on MBAs and non-MBA business master’s graduates as a priority in their hiring plans.
GMAC’s 2016 Year-End Employer Poll surveyed 167 recruiters representing 140 companies in the United States and 26 other countries around the globe. Among the respondents were 36 companies in the Fortune 500, including 21 Fortune 100 firms. The majority of respondents—71 percent—were U.S. companies, which is typical for this survey, according to GMAC’s Schoenfeld.
The good news extends beyond MBAs—in fact, more employers plan to hire new employees in each candidate type they were asked about than they did in 2016. This includes candidates with master’s in accounting and management, as well as other business master’s, non-business master’s, bachelor’s and experienced business hires. Roughly a third (31 percent) expect to hire candidates with master’s degrees in management (31 percent) and accounting (29 percent).
Source: GMAC 2016 Year-End Employer Poll Report
Are MBAs Good Writers?
It’s tough goings for a writer nowadays. In post-Recession America, students majoring in English, Creative Writing, and (sadly) Journalism degrees are less likely to find employment in their desired industries.
Part of it is job climate, part of it is just a matter of too many people getting degrees in subjects with weak job markets. Continue reading…
Is An MBA Worth It?
For folks looking to break it big in the business world, seeking an MBA seems like an attractive option. With on-the-job training, networking opportunities, and impressive job placement statistics, pursuing a Masters of Business Administration degree almost seems like a no-brainer. Continue reading…
MBA Application Volume Up Around the Globe, According to Latest GMAC Survey
This post has been republished from original source clearadmit.com.
At the annual Graduate Management Admission Council (GMAC) conference in Denver this past June, the admissions directors we talked to from leading business schools were almost giddy. Continue reading…
Today’s Mobile Generation Wants Business School Admissions on the Go
This post has been republished in its entirety from original source cleardmit.com.
Business schools that aren’t meeting prospective applicants on their mobile devices and via social media may need to rethink their strategy—and fast. This according to a recent survey measuring how today’s mobile generation consumes media as part of the MBA admissions process. Results of the survey, conducted by Southwark Consulting and the Graduate Management Admissions Council (GMAC), were released last week.
“Everyone has read stories and surveys about this newest generation shifting its media consumption habits,” says Southwark consultant Alex Brown, who co-authored the study. “The interesting thing about this study is that it is the first one to specifically target people applying to or considering business school.” The survey’s 743 respondents from around the world were all registered on mba.com, the official website of the Graduate Management Admissions Test (GMAT), which is the primary entrance exam for business school applicants. Continue reading…
MBA Programs Undergo Curriculum and Structure Revisions
MBA programs all over the world have been working to redesign their program curriculum and structure to create a better learning environment and better skills for its students. The Association to Advance Collegiate Schools of Business (AACSB) recently held the Curriculum Conference Re(invest+Think+Design). The conference focused on ways that colleges and universities can redesign MBA program curriculum too meet the changing needs of students.
The complications that schools face when redesigning or creating new MBA programs are being able to adapt a curriculum that can help future business leaders to get ahead of industry trends and develop content with immediate relativity and create long-lasting skills with life-time value. Before the AACSB Conference, the organization held three symposia on topics related to redesigning the MBA.
