Posted by fmba
on Jun 21, 2016 in Getting an MBA job
| 0 comments
Starting salaries are climbing, too.
It took a while, but demand for MBAs has finally bounced back from the recession. A new study from the Graduate Management Admission Council says 88% of companies are planning to hire recent B-school grads this year. Thats a marked increase over last years 80%, and a huge jump 33 percentage points over 2010, a dismal year when B-schools saw what the report calls a post-recession low.
Not only that, but salaries are recovering, too. Worldwide, more than half (54%) of companies say theyre sweetening starting pay for MBAs. U.S.-based employers plan to offer median salaries of $105,000, up a bit from $100,000 last year. GMACs researchers also asked about compensation for candidates with non-MBA masters degrees. Tied for best paying: A masters in data analytics and masters in marketing, both with median starting salaries of $85,000.
Drawn from two separate surveys of more than 2,000 employers worldwide, the studys findings reflect the accelerating globalization of business in general, and the MBA job market in particular. For instance, 2016 B-school grads would be smart to make sure their passports are up to date, since about a third (30%) of companies hiring more MBAs this year plan to ship them out to multiple world regions.
At the same time, American MBAs may find themselves facing more competition from B-school grads looking to move to the U.S. More than half (52%) of the companies surveyed said they either have definite intentions of hiring, or are willing to consider, recent business school graduates who require additional legal documentation, such as work permits or visas....