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| BUSINESS & COMMERCE |
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New MBA graduates face good job opportunities
| Monday, May 21, 2012 |
As unemployment continues to drop and business owners grow more optimistic, individuals with an interest in applying to MBA programs have all the more reason to do so.
In fact, new data from the Graduate Management Admission Council (GMAC) reveals that job market conditions for MBA graduates have improved since 2011. GMAC recently shared the results of its "2012 Global Management Education Graduate Survey" and "2012 Corporate Recruiters Survey" in a press release.
Overall hiring increases
Based on survey responses from 5,366 graduating students from the class of 2012 and 1,096 employers, GMAC found that 62 percent of students already had a job offer – an improvement over 54 percent in 2011. At the same time, the number of companies that plan to hire new MBA graduates has jumped from 72 percent in 2011 to 79 percent this year. Small businesses appear to have the most interest in hiring new employees with a management background at the graduate level.
"These entrepreneurial firms see real value in the skills that management graduates bring to the workforce," said Dave Wilson, GMAC’s president and chief executive officer.
Salaries expected to rise
While graduates who hold an MBA can typically expect higher pay than their peers who hold a bachelor’s degree alone, GMAC reported that salaries are expected to rise even higher than last year for those who have earned their graduate business degree. Survey findings reveal that on average, new MBAs will be paid $40,000 more than bachelor’s degree holders.
Where MBAs can expect to work
Among the industries that MBA students from this year’s graduating class hope to enter are consulting, finance, accounting, and products and services. However, the products and services sector appears to be lacking in jobs, based on GMAC’s findings. At the same time, interest in finding a job in the manufacturing industry is beginning to wane, as more individuals abandon this sector.
New opportunities in gaming
While jobs in the manufacturing industry may not be as appealing to MBA students as they once were, interest in the gaming sector is on the rise. The Financial Times reported that Electronic Arts and Zynga have become two of the most high profile recruiters at American business schools, due to their need for employees with advanced business training.
"What is driving us is what our customers are doing," Jessica Rawson, who oversees university relations for Electronic Arts, told the news source. "It’s being able to take the numbers and create a story and communicate that story."
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