Five Highlights of the 2015 Job Market for B-School Grads
Your decision to go to business school will most likely pay off as the 2015 hiring market for business school grads looks very strong across all degree types.
Critical to making the decision to go to business school is trusting that a better, higher paying job will be waiting for you on the other side. Those receiving MBA and specialized business master’s degrees this month are largely seeing that their trust was not misplaced—the 2015 hiring market for business school grads looks very strong across all degree types.
Here are five key takeaways from our annual survey of corporate recruiters:1. Hiring demand for MBA and specialized business master’s graduates is up around the world. Globally, 84 percent of employers plan to hire MBA graduates this year, compared with 74 percent that hired them in 2014. Of those with plans to hire, 59 percent plan to hire more MBAs than they did last year. The percentage of companies hiring MBAs is up in every world region—notably, 92 percent of US companies plan to hire MBAs in 2015 compared with 80 percent that did so last year.
The share of employers planning to hire specialized business master’s grads this year is also up compared with 2014 actual hiring. Specifically, more than half (51%) plan to hire Master in Management grads (vs. 41% that hired them in 2014), 46 percent plan to hire Master of Finance grads (vs. 32% in 2014), and 44 percent plan to hire Master of Accounting grads (vs. 31% in 2014).2. The median starting salary for MBA grads in 2015 will nearly double that of bachelor’s grads at US-based companies. US-based companies are expected to offer recent MBA graduates a median starting salary of $100,000, compared with a median of $55,000 for bachelor’s grads. Globally, more than half of employers will increase starting salaries for recent MBA hires this year; 1 in 5 will do so above the rate of inflation.
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Companies in the US (74%), Asia-Pacific (62%), Europe (59%), and Latin America (53%) predominantly define their direction as expanding/growing. Globally, just 16 percent said they are “overcoming challenges”. Companies that classify themselves as growing are the most likely to be seeking recent b-school grads to hire.
The class of 2015 is seeing the benefits of a graduate management degree—will you be next? Start your path to business school today by exploring schools and programs and registering for the GMAT™ exam.