An improving economy hasn’t yet translated into major recovery in the job market for those getting graduate business degrees, but two surveys conducted from mid-February to mid-March by the Graduate Management Admission Council show cautious optimism among both graduating students and employers.
The 2010 employment outlook for master's-level business graduates has improved compared with 2009. Demand is greatest for MBA graduates in the health care and pharmaceuticals, and consulting sectors; Master in Management graduates are in demand for the consulting, energy and utilities, and health care and pharmaceutical sectors; and specialized master’s in business graduates are sought in finance and accounting.
Although they were less likely to have a job offer than last year’s graduates, class of 2010 students surveyed for the Global Management Education Graduate Survey were significantly more optimistic about the economy in general. And after a tough 2009, employers queried in the Corporate Recruiters Survey also expected the 2010 job outlook to be better for all types of candidates. Respondents of both surveys expected salaries to be similar to 2009’s.
Employers report that employees with an MBA degree demonstrate higher abilities in managing strategy and innovation, strategic and system skills, and knowledge of general business functions compared with other employees at the same job level.
This year, GMAC surveyed more than 2,300 employers that recruit and hire new talent from the world's graduate business schools. The purpose of this annual survey is to: Assess the current employment landscape, Examine hiring trends and market demand for graduate business students, and Obtain employer views on opportunities and hurdles involved in hiring.
Responses to this 9th annual survey of graduate business school employers were collected from mid-February to mid-March 2010 from 2,367 employers representing 1,960 companies, including 171 US Fortune 500 companies and 129 Global Fortune 500 companies. Contributing to this research were 168 business schools that facilitated the survey administration.
The 2010 Corporate Recruiters Survey, conducted in partnership with the European Foundation for Management Development and the MBA Career Services Council, received 2,367 responses representing 1,960 companies in 57 countries worldwide, including 129 of the global Fortune 500 companies. US respondents represent firms in 43 states and the District of Columbia, including 171 of the US Fortune 500 companies.
