Employer hiring up 4% for class of 2013 b-school graduates

More recruiters plan to hire, with early job offer rates similar to last year; pay rises, GMAC surveys find

The job market for management degree holders continues to improve as more employers plan to hire MBAs than they did last year, says a  2013 Corporate Recruiters Survey by the Graduate Management Admission Council (GMAC), which owns the graduate management admission test. GMAC's survey partners are the European Foundation for Management Development (EFMD) and the MBA Career Services Council.

The survey shows that similar to last year, six in 10 business school graduates already had job offers in February or March.

“Whether employers are aiming for more productivity or growth, the world’s graduate business schools are providing the talent for them. B-school graduates are finding that their education is providing a clear and valued competitive edge in the job market,” says Dave Wilson, president and CEO of GMAC, the worldwide association of business schools that administers the GMAT exam.

The survey interviewed more than 900 employers around the world with  75 percent of them planning  to hire MBAs, up from 71 percent that hired MBAs in 2012.

The survey also says that US employers are expected to pay new MBAs a median salary of $95,000 against $90,000 last year, although salaries vary substantially by region of work. This represents a $43,000 premium compared with the earnings for bachelor’s degree-holders among US employers.

Besides, the average number of new MBAs employers worldwide expect to hire is 14.6, up from the 11.4  they hired last year. Sectors in which more employers worldwide plan to hire MBAs this year than in 2012 include: energy/utilities (86 percent, up from 69 percent in 2012); healthcare (89 percent, up from 77 percent in 2012); and consulting (79 percent, up from 69 percent in 2012).

"Companies are looking to attract the best and the brightest, and the business school experience provides an exceptional opportunity to gain new knowledge, learn and share with a diverse group of students and faculty and most importantly develop at a personal level in many different ways," said Eric Cornuel, director general and CEO of the European Foundation for Management Development.

“These results positively answer many of the primary questions MBA candidates ask about the opportunities an MBA degree may present to them, by not only confirming the value of the MBA degree in today’s dynamic job market, but also clearly illustrating the industries in which it might currently best be leveraged. The results also serve as a valuable tool to MBA career services professionals assisting MBAs with critical career decision making,” said Mark Peterson, president of the MBA Career Services Council.