RESTON, Va/Mumbai: Is it the party time for global MBA talents? Nearly 88 percent of corporate recruiters who work directly with graduate business schools plan to hire recent MBA graduates in 2016, which is eight percentage points higher than last year and 33 percent higher than 2010, the lowest point in the Great Recession. Companies working directly with business schools have shown higher hire confidence this year than they hired in 2015 according to a global survey report released today by the Graduate Management Admission Council (GMAC).
Globally, MBA professionals are set to fetch hire salary. More than half (54 percent) of employers plan to increase MBA starting salaries either at the rate of inflation (33 percent of respondents) or above (21 percent); 46 percent will keep starting MBA salaries the same as 2015. US-based companies plan to offer recent MBA graduates a median starting base salary of US$105,000 in 2016, up from a median of US$100,000 in 2015.
In the non-MBA business master’s degrees, graduates from supply chain management programs are in greatest demand among companies in the manufacturing, technology, and products and services sectors, while graduates of master’s-level programs in data analytics are in greatest demand in the technology sector, sought by 43 percent of companies — nearly twice as many companies as in other industries. Graduates from supply chain management programs are set to rule the roast as they are expected to see the highest jump in salary offer compared to last year. Nearly, 67 percent of companies that plan to hire graduates with Master in Supply Chain Management degrees expect to increase their starting salaries either at the rate of inflation (46 percent) or above (20 percent).
On International Hiring and Job Placement, overall 52 percent of corporate recruiters report that their companies either have plans to hire (24 percent) or are willing to consider hiring (28 percent) recent business school graduates who require additional legal documentation, such as work permits or visas. Further, nearly a third (30 percent) of companies that intend to hire business school graduates in 2016 will place these candidates in multiple world regions.
“A graduate business degree is rewarding from a personal, professional and financial standpoint no matter which country you study in,” said Eric Cornuel, director general and CEO of EFMD. “The advantages students get from on-campus recruitment will pay dividends throughout their careers.”
GMAC conducted the 15th annual Corporate Recruiters Survey in February and March together with survey partners EFMD and MBA Career Services & Employer Alliance (MBA CSEA), in association with 109 participating graduate business schools. The survey findings are based on responses from 842 employers representing more than 530 companies in 40 countries worldwide who recruit directly from participating business schools.