2015 to bring more jobs and hike in starting salary for MBAs

College grads could see more internship offer from companies, says GMAC survey

What turned out to be a strong job market for management graduates in 2014 is projected to continue in 2015, according to the Graduate Management Admission Council (GMAC)’s year-end poll of employers released on Tuesday.

This year’s hiring outlook holds steady for 2015 graduates, as nine of 10 employers planning to hire business school graduates expect to maintain or increase the number of job openings for these hires, compared with 2014. According to the survey, 96 per cent of employers worldwide concurred that hiring from business schools created value for their companies.

“The solid job prospects for business school talents seen over the past several years and again reflected in this poll gives prospective students good reason to consider pursuing these degrees as part of a strategy to drive their career goals,” said Rebecca Estrada Worthington, GMAC’s survey research manager.

RISING DEMAND

• 72% of employers expect to hire MBAs in 2015, compared with 69% that hired them in 2014
• 41% expect to hire masters in management graduates compared with 30% that hired them in 2014
• 34% expect to hire master of accounting graduates, compared with 31%  that hired them in 2014
• 35% expect to hire master of finance graduates, compared with 31%  that hired them in 2014

Also, more than half of employers (ranging from 54 per cent to 74 per cent) plan to increase starting annual base salaries in 2015 at or above the rate of inflation for new MBA and business master’s recruits.

In 2015, the majority (55 per cent) of employers will offer internship opportunities for graduate business students. “Our data show that even in the depths of the recession, business and management degrees can provide a measure of job protection and opportunity. Today, in a recovering global economy, management degrees can be a powerful driver of confidence and provide fuel for an individual’s career growth,” Estrada Worthington added.

The poll of 169 employers in 33 countries, conducted in late 2014, serves as an early view into the 2015 job market for MBA, master of management, accounting, finance, and other specialised business master degree-holders.

While the greatest hiring demand for B-school talent remains recent MBA graduates, the largest increase in hiring demand is projected to be for candidates having master’s in management, as reflected in the 11 percentage point increase in firms which hired this category of graduates in 2014.