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Published On: Wed, Jul 6th, 2016

88% of Corporate Recruiters Set to Hire MBA Graduates This Year

If you didn’t think that the job market for business school graduates could get any better, you’ll be glad – and probably surprised – to hear that actually, it can. If you have a Master’s of Business Administration (MBA), are currently studying for one, or plan to enroll on an MBA course in the future, you’re in luck, as 2016 is certainly your year.

Companies who work closely with business schools are planning to take on more MBA graduates this year than they did in 2015, according to a global report which was published on 20 June by the Graduate Management Admission Council (GMAC). In the report, details of eighty-eight percent of corporate companies who work with and hire from business schools show that plans to hire recent MBA graduates are increasing for 2016, up by 8% when compared to the previous year. They’re also a whopping 33% higher than 2010, which was the lowest point of the Great Recession.

photo TheAndrasBarta Pixabay

photo TheAndrasBarta Pixabay

MBA Employment Improvements

The past six years have seen some incredible gains in MBA employment, resulting in salaries and placements at some of the leading business schools hitting a record high. Research director at GMAC, Gregg Schoenfeld, said that 2016 is one of the highest years of companies actively saying that they are looking to hire MBA graduates. Schoenfeld said that the robust hiring market is certainly standing out, with only 67% of companies willing to hire MBA graduates before the recession back in 2007.

Indeed, GMAC revealed that demand for MBA graduates was up in every industry category measured. In consulting, the demand for MBAs rose from 83% to 92%. In finance and accounting, MBA demand went up from 76% to 84%, and the products and services industry saw a 10% rise from 76%. Technology was the industry with the smallest demand increase, going up just 2% from 82% to 84%. There’s never been a better time to take an MBA online!

Will This Last?

Already, we are seeing strong implications that this significant recovery is going to extend into another year. GMAC found that 89% of companies are planning to conduct on-campus recruitment fairs in 2016, a figure which has risen 4% since 2015. These US companies plan to offer recent MBA graduate hires a strong starting median base salary of $105,000 this year, which has risen by $5k since 2015.

These figures clearly show that demand and favor for MBA graduates is definitely on the rise, and there’s no indication that it is about to slow down any time soon. International MBA graduates can also benefit from this, and although job opportunities can vary for international MBA grads depending on where they attended business school, over 50% of corporate recruiters report that their companies have future plans for hiring, or are at least willing to hire, recent business school graduates from other regions who may require additional documentation such as visas or work permits. Almost a third of companies who plan to hire recent MBA graduates in 2016 will place the successful job candidates in multiple world regions.

Plans for International MBA Grads

GMAC found that whilst 88% of corporate companies are planning to hire MBA graduates from US business schools, companies in the consulting, accounting and finance, technology and manufacturing industries are more likely than any others to take on international MBA graduates who require a visa to work. Although 25% of the employers in the US currently have plans to hire international candidates, a majority of 51% of US companies report that currently, they have no plans to hire any MBA candidates from overseas.

These results came from the fifteenth annual corporate recruiters survey in February and March of 2016, along with survey partners MBA Career Services and Employer Alliance (MBA CSEA) and EMFD, conducted in association with 109 different business schools. The findings of the GMAC survey are based on responses from a total of 842 employers who represent more than 530 companies in forty countries worldwide who recruit MBA graduates directly from business schools.

With figures such as these, it is no surprise that more and more business graduates are enrolling on MBA degree courses both in classrooms and online. The MBA degree is one of the most respected degrees across a range of different industries, and can help candidates with better job security, favor with employees, better employed positions and a higher pay grade. Along with that, it’s also beneficial to those who do not work in business, as it allows students to learn a range of transferable skills which can be helpful in all industries.

Guest Author: Carol Trehearn

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