According to the Corporate Recruiters Survey, Graduate Management Admissions Council’s annual survey of employers that recruit on business school campuses, the job market for 2014 MBAs is significantly improving.[1] Compared with 2013 hiring results, the MBA employment opportunities for the class of 2014 business school graduates are on the rise, as more companies worldwide are projected to hire recent MBAs. In fact, a shocking 80% of companies plan to hire MBAs this year, as opposed to last year’s 73% and 2010’s 60%.
In the 2014 Corporate Recruiters Survey, the GMAC drew responses from nearly 600 employees in 44 countries worldwide. By partnering with EFMD, MBA Career Services, and Employer Alliance (MBA CSEA), the survey covered 133 business schools worldwide. The report found that more companies are focusing on improving performance and productivity goals. MBA hiring will enable them to sustain, strengthen, and expand.
Globally, as companies overcome the residual economic challenges of 2008, they are reducing costs and hiring more graduates. New analysis shows that employers are looking for recent graduates who are highly proficient in communication skills, with an emphasis on oral communication, followed closely by writing and listening. According to the survey, communication skills are, on average, twice as crucial as managerial skills in job candidates.
Careers for MBA graduates have the highest projected hiring rates of all degrees since the 2008 economic crash. Although MBAs have always been greatly valued, this survey reveals that companies view MBAs as a good investment.[2] How much will they be making? The median base salary is expected to be $95,000 in the United States and $69,000 in Europe. So, just as MBAs are a good investment for companies worldwide, getting an MBA is a good investment for you.
Thinking about applying to business school after reading the results and projected salary of these graduates? Talk to InGenius Prep about how we can help you with business school admissions. Whether you need your resumé reviewed, your candidacy built, application counseling, interview preparation, or help from a former admissions officer, InGenius Prep has you covered.