Businessweek’s article " A Heady Job Market for MBAs" bodes well for MBAs. It is all upbeat news for MBA job hunters graduating from European and North American schools:
- Management consulting and investment bankers are back on campus in full force at the top programs, frequently hiring double the number of MBAs they hired three years ago.
- "At London Business School, 96% of 2005 grads had accepted full-time jobs within three months of graduation, an 11% increase over 2004 and a record for the school."
- At Richard Ivey School of Business, 94% of 2005 grads had an offer within three months of graduation, compared to 68% in 2004.
- Salaries are up –remember your supply/demand curve: At the University of Chicago Graduate School of Business, the average starting salary was $98,000, up from $91,210 just a year ago.
The article saves the best news for last: "Experts expect employment to continue on this path for at least the next two MBA classes.’Unofficially, companies like DaimlerChrysler (DCX ), McKinsey, Goldman Sachs (GS ), and others are telling us that they see strong hiring through 2008 as well," says Samer Hamadeh, co-founder and CEO of Vault, a New York-based company that provides industry information to job seekers. "For someone graduating in May, 2007, it [will be] a bull market for jobs.’"
If you want to know what recruiters want to see in MBA please see the transcripts from our recruiter chats for MBA applicants.
What’s the cloud within this nice thick silver lining? This news is going to drive up application volume and make it harder for you to gain acceptance to top programs. Watch that GMAT volume continue its upward climb.