What do many MBA students worry most about before starting their degree? “Will this degree help me find a job?” The recent global recession has made many graduating students nervous; however, the Graduate Management Admissions Council is allaying their fears. In a recent article, “New MBAs See Better Job Market as Employers Turn Focus to Growth,” the GMAC announced that their annual international surveys show the job market has improved greatly and is expected to improve even more over the next few months.
The survey reveals that more MBA graduates found jobs in 2011 than in 2010. Companies are beginning to grow again and the statistical results are as follows:
- 54% of job-seeking respondents to the survey had at least one job offer in March. Last year, only 32% of respondents had an offer at that time.
- Salaries are improving. MBA graduates noticed a 73% increase in their post-degree base salary as compared to the salary they received prior to getting their degrees. The class of 2010 only reported a 64% salary rise.
- According to GMAC’s 2011 Corporate Recruiters Survey, employers generally feel that the economy is getting better and they can begin expanding their businesses. In fact, 67% of employers plan on hiring new MBA graduates, up from 62% last year. 58% of these employers feel that growing their business is a priority.
- If you are an MBA student graduating in 2011 your average starting salary will be closer to $91,433, as opposed to $89,141 in 2010.
With these kinds of positive statistics, current MBA applicants have a lot to look forward to!
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