The job market continues to improve for graduate business school degree holders as more employers plan to hire MBAs and specialized business master’s talent than did so last year.
With support from partners EFMD and MBA Career Services Council and 158 business schools worldwide, the GMAC 2013 Corporate Recruiters Survey drew responses from more than 900 employers in 50 countries around the world, including adequate samples to report details for the Asia-Pacific region (with Central Asia), Europe, and the United States.
Key Findings of the Report:
- Not only are more companies planning to hire recent MBAs around the world in 2013 (75%, up from 71% that hired in 2012), but they expect to increase the average number of new MBA hires per company from 11.4 in 2012 to a projected 14.6 in 2013.
- Companies in Asia-Pacific are experiencing robust growth and planning for market expansion in 2013 and are creating higher demand this year for MBAs and master-level candidates, with a majority this year expected to offer starting salaries for new hires at or above the rate of inflation.
- European hiring projections reflect employer sentiments about the region’s struggling economy. Although the hiring outlook for MBAs remains stable compared with 2012, hiring projections for all other types of candidates decreased slightly.
- The 2013 hiring outlook is positive in terms of the percentage of US companies that plan to hire MBA and business master’s graduates. The Northeast has the highest demand for fresh MBA talent, with 92 percent of companies planning to hire recent graduates. The South will see the greatest increase in demand for non-MBA business masters compared with 2012 actual hiring Results.
- MBA graduates continue to command higher starting salaries compared with other master’s graduates in the United States, with a median base salary of US$95,000, up from US$90,000 in 2012. This is a salary premium of US$43,000 over bachelor’s degree holders, up from an average of US$40,000 reported over the past six years.
- Hiring trends by industry in 2013 show that the greatest growth in demand for MBAs compared with last year is coming from the energy/utilities and health care/pharmaceuticals sectors — industries not traditionally sought by MBA talent.
- Compared with countries with high per capita income, a greater share of countries with medium per capita income plan to hire graduate management talent in 2013. A greater share of employers in these countries plans to increase base salaries.
- Of the employers that plan to hire MBA and business master’s graduates in 2013, 33 percent plan to place some new graduates in jobs outside of the home region of the recruiter.
Source: Business Standard
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