MBA Employment Statistics 2017
Published 1st May, 2018
As we so often do, we like to remind you just how our newly- enhanced MBA will advance your career, offer higher earning potential and provide you with the skills to lead. In support of this, we’re delving into the latest findings from the Corporate Recruiters Survey that’s still hot off the press since March 2017.
The Corporate Recruiters Survey is based on responses from 959 employers, representing more than 628 companies in 51 countries worldwide. These companies work directly with business schools for recruitment, including 22% in the Fortune Global 500. The much-anticipated results should give MBA students a reason to do a little happy dance.
Each year, the Graduate Management Admission Council (GMAC) conducts the Corporate Recruiters Survey with a set of standard topic areas, one of those typically being hiring results and hiring projections. This time, however, they tried exploring a new area – what the base salaries are for MBA graduates, and what non-MBA masters degrees are in demand at the moment.
These are fundamental questions that most soon-to-be graduates usually ask themselves, so luckily for them here are some answers:
How good are my chances of finding work when I graduate?
Nearly 9 in 10 (or 86% of respondents) reported that their company was planning on hiring recent MBA graduates in 2017. That’s a significant increase from the previous year, with the figure being 79%. Not only this, but almost all Fortune 100, 500, Global 100 and Global 500 companies reported on plans to hire MBA graduates in 2017. Things are looking great!
What is the average starting salary?
The average starting salary for a newly recruited MBA graduate in 2017 is US$110,000, up $5000 from 2016. Unfortunately, many respondents outside the US did not provide salary data.
What kinds of companies are hiring?
Unsurprisingly, the bigger and more established a company is, the more likely it is to be hiring. 99% of Fortune 100 companies intend on hiring MBA graduates, compared to 96% of the Global 500 and 91% of the Fortune 500. 79% of family-owned businesses said they would hire recent MBA grads, as did 74% of start-ups, up 22% from last year.
A little more surprisingly though, small companies (with less than 100 people) are taking on a greater number of additional MBAs (64%) compared to the majority, where roughly half of MBAs hired will be filling existing positions.
What industries are hiring?
Even more good news! This year, respondents across all industry areas reported that they were going to be hiring at a consistent level. Across all the industries approached for the survey – consulting, energy/utilities, finance/accounting, health care/pharm, technology, manufacturing, government/non-profit and products/services – the percentage of respondents intending to hire hovered between a high 84-91%. The only exception was manufacturing, at 75%. A notable jump from the previous year was the government/non-profit sector, which was at 84% for this year, compared to their 2016 figure of 67%.
Where are companies hiring?
Demand for recent MBA graduates is strongest in the US and the Asia-Pacific, where 90-91% of respondents planned to hire MBA graduates in 2017, an increase of 6-7% since 2016. Latin American employers reported the largest shift in hiring, up 9% over 2016. Europe has the least amount of demand for new MBAs, at 68%.
What kind of qualifications are most in demand?
Most companies, (86%), plan on hiring MBA’s. 59% are interested in hiring graduates who have a Master in Management. 42% – a Master of Accounting, and 48% a Master of Finance. 86% are interested in hiring graduates with bachelor’s degrees, and 93% will hire those coming from industry experience. As part of our newly-enhanced MBA, you can undertake an Academic Internship subject (MBA507), deepening your understanding of the job-ready skills in demand by high quality employers. Our Careers Central will assist in finding you a suitable placement based on your interests and needs once your application has been approved. Our MBA507 subject is a 12-week, 204-hour work placement integrating academic learning and improved knowledge of career pathways within your specialised industry. More than 50% of KBS MBA students are offered paid employment at the end of their Academic Internship!
Studying with KBS is a lifelong investment.
Our fastest growing course, the MBA, will equip you with the tools you need to lead, manage and succeed in your future career. More and more people are choosing to study an MBA for its strong prospects, job security and Academic Internship opportunities. You can tailor your MBA degree at KBS by pursuing one of five specialisations and may be able to mix face-to-face with online learning.