What MBA Alumni Say
If you could talk to recent MBA graduates and alumni, what would they tell you about the value of their degree?
If you could talk to recent MBA graduates and alumni, what would they tell you about the value of their degree?
Every year, the Graduate Management Admission Council® (GMAC®) publishes findings from its annual surveys of MBAs and graduate business school alumni who have been in the job market anywhere from six months to 10 years. And the 2011 results are in.
More than 4,000 MBAs and graduate business school alumni, including 963 from the Class of 2011, answered questions in our September survey about their salaries, rate of job satisfaction, first jobs, continuing career opportunities, and lessons learned in school and out.
Their responses are reported in the 2012 Alumni Survey Report (pdf) and may provide you with some insights about what you can expect from a graduate business education.
Alumni on Post-Degree Employment: 80% of Class of 2011 Reported Salary Satisfaction
For graduates of the Class of 2011, 36% got their first post-degree job after graduating from business school. Nearly one-third, 32%, continued working for their employer post-degree, and 13% had an internship that continued after graduation. Four percent of the Class of 2011 alumni was self-employed.
Four out of five, or 80% of Class of 2011 alumni, indicated their starting salary met or exceeded their expectations. The median starting annual salary for Class of 2011 was US$75,000.Three out of four alumni (75%) in the class of 2011 said they could not have obtained that job without their graduate management degree.
The Why, Where, and What of Alumni Jobs
Alumni from last year’s graduating class had lots to share on job search strategies that you may want to keep in mind. For lessons learned on the job hunt check out Alumni Job Search Strategies, Class of 2011 (pdf).
Students who engaged in an internship while attending graduate business school had the greatest financial success upon graduation, earning an average starting salary of US$86,291 compared with an average starting salary of US$72,000 for alumni who found their first job after graduation. The following list shows the percentage of Class of 2011 alumni working in various industries:
- Products and services (21%)
- Finance and accounting (20%)
- Consulting (17%)
- Manufacturing (11%)
- Nonprofit or government (9%)
- Health care or pharmaceuticals (8%)
- Technology (7%)
- Energy and utilities (4%)
Getting Ahead and Staying Ahead in Today's Fast-Paced Economy
In today’s competitive global economy, MBAs and other graduate management alumni find they must be deliberate about growing their careers. How can you take your career to the next level and be happy? B-school alumni tell all in our special report, Alumni Career Levels: Job Attributes and Satisfaction (pdf).
Alumni who reported high levels of satisfaction with their current jobs also were more likely to rate highly the preparation for their chosen careers they received in b-school. The top three drivers of job satisfaction cited in 2012 survey report findings mirrored those of one year ago:
- Passion or doing work one enjoys (36%)
- Compensation, salary reflecting one’s experience (18%)
- Recognition by one’s peers (15%)
Satisfaction With Graduate Management Education Choices
In 2012, survey results showed that 95% of MBAs and business school alumni rated the value of their degree as outstanding, excellent, or good. Nine out of 10 alumni say their graduate management education prepared them for their chosen careers.
Hear From Recent Graduates
Meet recent MBA graduates and see how they achieved their goals in a variety of industries.
