This survey examines the job outlook for recent graduate business students as well as employer’s needs and expectations. It provides a picture of the 2012 employment landscape; the demand for master’s–level business graduates, the current employment landscape, and provides insight into hiring practices and trends across industries and world regions.
The data collected from mid-February to mid-March 2012 reflects the responses of 1,096 participants representing 800 companies in 40 countries worldwide. Respondents in the United States represented firms in 37 states plus the District of Columbia.
As per the report, it was revealed that 62% of the fresh MBA graduates acquire jobs as soon as they complete their studies. The percentage is even higher for the full time MBA graduates with about 64%. 79% of the companies are positive about hiring the fresh graduates this year when compared to 72% last year. Of the 6,292 graduates surveyed, most of them have landed themselves well paying jobs.
Among the 1096 surveyed global companies, small scale industries hired most number of fresh graduates. Corporates demand work experience from the students either before their enrollment in business school or through internships during the course. More than 3 quarters of the employers seek to hire graduates holding a work experience of more than 3 years.
It was also revealed that 39% of the students’ internship experiences helped them in earning a job. It was cited to be the most successful search method with 71% rate of success at finding jobs. It was also observed that MBA graduates that got offers with the companies they interned in were offered a higher range of salaries. Social media and online job search were cited to be the least effective methods of searching and landing jobs.
US employers expect to pay the fresh graduates a higher range of salary displaying an 81% gain difference between pre MBA and post MBA salaries. The annual earnings of fresh MBA graduates are estimated to be $40,000 higher than the salaries of bachelor degree holders. The median expected initial salary of fresh MBA graduates in the US is recorded to be $90, 000 and the median bonus acquired by the same cohort is estimated to be $15, 000 in 2012.
Students’ perspective on debt has also evolved over the years. Though 59% of the graduating students expressed that they would have a debt accumulation of $45,000, it would not have a direct effect on their views of the reputation, quality and value of their post-graduate management degree program.