MBA Hiring Quickly On The Rise
May 26, 2014
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 MBA’s is greatly improving. In comparison to 2013 MBA hiring results, the job outlook for the class of 2014 business school graduates is on the rise, as more and more companies worldwide are projected to hire recent MBAs. In fact, a shocking 80% of companies plan to hire MBA’s 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 across 44 countries across the world. By partnering with EFMD and MBA Career Services and Employer Alliance (MBA CSEA), the survey was able to cover 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 their growth.
Globally, as companies are overcoming the residual economic challenges of 2008, they are reducing costs and have the ability to hire more graduates. New analysis shows that employers are looking for recent graduates who are highly proficient in communication skills with an emphasis on oral communications, followed closely by writing and listening skills. According to the survey, communication skills are, on average, twice as crucial as managerial skills in job candidates.
MBA hiring has the highest project hiring rates out of all degrees since the economic crash of 2008. Although MBAs have always been greatly valued, this survey reveals that companies view MBA’s as a good investment. 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.