There are more and more jobs and opportunities across the world that’s opening up for MBA graduates. A recent survey by the Graduate Management Admission Council (GMAC), which conducts the GMAT, threw up this interesting fact.
Each year, the GMAC carries out a plethora of surveys on subjects ranging from application trends to employer opinions. If you are interested in pursuing an MBA/Masters in Management (allied fields), and would like to find out about the jobs and opportunities abroad, you should go through the results of this GMAC survey.
- Hiring MBAs: 5% of employers plan to hire MBA graduates in 2016. 85% expect to hire as many or more than they did last year (in 2015).
- Starting salary: 56% of employers expect to increase annual starting base salaries for new 2016 MBA hires at the rate of inflation or higher. 41% will maintain salary levels from 2015.
- US vs UK: 82% of the U.S. companies surveyed said they are likely to hire MBA graduates, compared to 63% of companies in Europe.
- MBA internships: 73% of employers offer internships to MBA students, and 92% of those employers expect to maintain or increase those positions in the coming year.
- MBA jobs in APAC: Companies in the Asia-Pacific region are the most likely to have plans to hire international MBA students (43%) compared to 29% of companies globally. By industry sector, finance and accounting (38%) and consulting (36%) firms are the most likely to hire international candidates.
- MBA jobs in Energy / Utilities: Nearly all (96%) respondents from the energy and utilities sector indicated that they hired MBA graduates of the class of 2015, an 18% increase over the 78% of employers that hired MBA graduates of the class of 2014.
- MBA jobs in Technology: Employers in the technology sector report increasing demand for recent business school graduates. 93% of technology employers hired MBA graduates from the class of 2015 ,as compared to 84% of employers who hired MBA graduates of the class of 2014.
- MBA jobs in Products and Services: Demand for business graduates within the Products and Services sector increased across all program candidate types in 2015. 86% of companies hired recent MBA graduates, compared to 73% of employers that hired MBAs from the class of 2014.
- MBA jobs in Finance: 84% of finance and accounting companies hired MBAs, up from 73% of companies that hired MBAs last year. Also notably, 65% of companies plan to hire recent Master of Finance graduates from the class of 2015, up from 49% in 2014.
- MBA jobs in Consulting: The demand for recent graduate management talent continues to grow in the consulting sector. 81% of consulting companies hired MBA’s from the class of 2015, up from 70% of firms that hired MBAs from the class of 2014. Additionally, an increased proportion of companies hired Master in Management graduates (47% of companies, up from 39%), Master of Accounting (32%, up from 22%) and Master of Finance (36%, up from 24%) compared with 2014.
- MBA jobs in Manufacturing: Employers in the manufacturing sector report increased demand for all major business school candidate types. Eighty-one percent of employers hired MBA graduates in 2015, up from 74 percent of companies in 2014.
- MBA jobs in Healthcare: Hiring plans for healthcare and pharmaceutical companies, according to the GMAC remained similar to 2014 hiring plans. Three out of 4 (75%) companies hired recent MBA graduates in 2015, similar to the 74% that hired in 2014.
- MiM jobs: 71% of employers met or exceeded their hiring goals for Master in Management graduates in 2015. 85% of employers expect to match or exceed their hiring count from last year.
- MiM demand more in Europe: Employer demand for MiM graduates is 57% in Europe, compared to 25% in the U.S.
- Jobs for Master of Accounting grads: For Master of Accounting grads, 76% of employers met or exceeded their 2015 hiring goals. 85% expect to maintain or increase their numbers this year. 50% of employers plan on increasing annual base salaries for new Master of Accounting hires in 2016, while 50% plan on maintaining 2015 salary levels.
- APAC hiring trend: Three out of 4 (75%) Asia-Pacific companies hired recent MBA graduates in 2015, an increase from 69% that hired these candidates in 2014. Asia-Pacific employers will also targeted specialised business master’s candidates in their 2015 staffing plans, indicated by the relatively high percentage of companies planning to hire from Master in Management (66%), Master of Finance (58%), and Master of Accounting (55%) programs.
In conclusion: This year may well turn out to be the best year so far in this decade for job-seeking graduate business school students. GMAC survey findings show that employer demand— and hence job opportunities — for MBA graduates, across all candidate types, is on the rise this year both globally and by world region. Organisationally, employers across most world regions report that their companies are on the path of growth and expansion, and their hiring projections reflect their desire to increase the level of graduate business school talent in their ranks to help meet their corporate goals.