What turned out to be a strong job market for business school and management degree graduates in 2014, is projected to continue into 2015, according to the Graduate Management Admission Council‘s (GMAC) Year-End Poll of Employers released today.
This year’s hiring outlook holds steady for 2015 graduates as nine out of ten employers planning to hire business school graduates expect to maintain or increase the number of job openings for these hires compared with 2014.
A forecast strengthened by findings from the poll such as, 96 percent of employers worldwide concurring that graduate business school hires create value for their companies.
“The solid job prospects for b-school talent seen over the past several years and again reflected in this poll, gives prospective students good reason to consider pursuing these degrees as part of a strategy to drive their career goals,” said Rebecca Estrada Worthington, GMAC’s Survey Research Manager.
Also, more than half of employers (ranging from 54% to 74%) plan to increase starting annual base salaries in 2015 at or above the rate of inflation for new MBA and business master’s hires.
In 2015, the majority (55%) of employers will offer internship opportunities for graduate business students.
“Our data show that even in the depths of the recession, business and management degrees can provide a measure of job protection and opportunity. Today, in a recovering global economy, management degrees can be a powerful driver of confidence and provide fuel for an individual’s career growth,” Estrada Worthington added.
The poll of 169 employers in 33 countries, conducted in late 2014, serves as an early view into the 2015 job market for MBA, master of management, accounting, finance, and other specialized business master degree-holders.
The greatest hiring demand for b-school talent remains recent MBA graduates, while the largest increase in hiring demand is projected to be for Master in Management talent, as reflected in the eleven percentage point increase in firms who hired this category of graduates in 2014.
- 72% of employers expect to hire MBAs in 2015, compared with 69 % that hired them in 2014.
- 41% expect to hire masters in management graduates compared with 30 % that hired them in 2014.
- 34% expect to hire master of accounting graduates, compared with 31% that hired them in 2014.
- 35% expect to hire master of finance graduates, compared with 31% that hired them in 2014.
- Employers’ plans to hire newly-minted bachelors graduates is projected to be slightly lower in 2015 (78 % expect to hire bachelor’s degree holders, compared with 82 % that hired them in 2014); and hiring plans for experienced direct from industry hires will hold steady.