The annual employer and graduate surveys, looking at the current employment outlook from both sides of the market, were released today by GMAC.
“When 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.
2013 Corporate Recruiters Survey:
The 2013 Corporate Recruiters Survey of more than 900 employers around the world suggests that as much as 75 percent of employers plan to hire MBAs this year, up from 71 percent that hired MBAs in 2012. The proportion of employers planning to hire other types of business school graduates is up from last year for master in management, master of accounting, master of finance, as well as other specialized business master’s.
According to the survey, the average number of new MBAs employers worldwide expect to hire is 14.6, up from the 11.4 they hired last year.
The specific 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 EFMD.
“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,” said Mark Peterson, president of the MBA Career Services Council.
2013 Global Management Education Graduate Survey
The 2013 Global Management Education Graduate Survey of 5,331 graduating students attending 159 universities in 33 countries found that 60 percent of those seeking jobs had at least one offer in February or March, comparable to the 62 percent of class of 2012.
According to the survey, fewer full-time two-year MBAs had early job offers this year than last (61 percent, compared with 64 percent last year).
The survey suggested that more career-switching graduates are entering the consulting, healthcare, and energy/utilities fields than leaving it. By contrast, more career-switching graduates are leaving the products and services, manufacturing, nonprofit/government, and technology sectors than entering them.
Both surveys show a healthier job market for business school graduates compared to a scenario five years ago, when just 50 percent of corporate recruiters planned to hire MBAs and 43 percent of class of 2009 graduates surveyed had early job offers.
Headquartered in Reston, Virginia, The Graduate Management Admission Council is a non-profit education organization of leading business schools and owner of the Graduate Management Admission Test (GMAT®), used by over 5,400 graduate business and management programs worldwide.
The GMAT exam is continuously available at nearly 600 test centers in over 110 countries. In India, the GMAT is accepted for admissions at over 150 programs offered at 80 business schools. The GMAT is offered on demand and conducted round the year at 17 cities in India through 18 test centres.
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