Employers around the world who were surveyed in the GMAC 2017 Year-End Employer Poll Report plan to increase business school hiring in 2018. Year after year since the 2008 recession, this poll has shown the propensity of employers around the world to proactively search for MBA graduates.
Employment prospects continue to be excellent according to the employers who plan to hire MBA graduates. High-paying jobs with excellent growth prospects are the first of many benefits for those with a postgraduate business degree. The GMAC Alumni Perspectives Survey Report 2017 is a great place to discover the full array of benefits. For students and working professionals who are considering enrolling in an MBA program, the rewards of earning an MBA are even more compelling when you consider the perspectives of nearly 15,000 alumni.
MBA alumni report many career benefits:
An advantageous starting point: Bachelor’s degree holders often start out in entry-level positions, while MBA alumni tend to start their postgraduate careers in a mid-level position, which can take many years to attain without an MBA, if it can be attained.
Expanded career horizons: The ability to shift from one industry to another, from one department to another, and from one function to another, throughout one’s career.
Boosted earnings potential: Here’s how total compensation, comprising base salary and additional bonuses, breaks down by experience:
- Entry level: $75,513
- Mid-Level: $123,950
- Senior Level: $177,544
- Executive Level: $272,907
- C-suite: $440,122
Quick ascent into entrepreneurship: More than one in 10 alumni run their own businesses, and two in three alumni entrepreneurs began their business after graduation, following employment at another company.
MBA Employers Increasingly Value the Skills MBA Graduates Offer
According to the GMAC 2017 Year-End Employer Poll Report, more than four in five employers (83 percent) plan to hire MBAs, while expected bachelor’s degree hiring is flat compared with 2017 levels:
One recruiter states: “(The job market) seems strong based on conversations with students and career management centers. Candidates seem to have multiple opportunities.”
Another recruiter notes: “The (job) market is growing for graduate level candidates, but contracting for BBA students.”
This is no surprise to many employers and those who have followed employment trends for the past two decades. Employers need professionals with postgraduate business training. As the repertoire of MBA skills continues to expand, the preparation gap between MBA graduates and everyone else continues to grow. The choice is simple for employers, which makes the choice to pursue an MBA simple for future business leaders.
Consider Your Personal Growth
In addition to expanded career horizons, greater opportunities and stronger compensation, MBA programs offer opportunities for personal enrichment. To graduate with an MBA in hand is an indication of growth in many areas:
Personal Transformation: The MBA experience changes you. It gives you opportunities to reflect on your career experiences and focus on professional development, while you explore a variety of fields and functions in business. The process can change your perspectives and priorities, bringing new career goals into focus.
Broad Business Expertise: An MBA offers the opportunity to step outside of your current position and to learn about the global economy and macro business concepts. MBA students become fluent in organizational structure and business planning, as well as functional concepts in operations, supply chain, finance, marketing, accounting and business law.
Transferable Leadership Skills: Employers value flexible executive leadership training, which transfers across functions and industries, enabling you to take on roles of greater authority. This training is typically not afforded on the job, and includes team building and management, communication, problem solving, critical thinking and cultural awareness.
A Professional Network: MBA students have opportunities to meet and learn from accomplished executives and business leaders. These interactions can lead to lifelong business relationships. Many graduates cite networking as one of the most important benefits of an MBA, proving that it is not always what you know that matters; it is who you know.
No matter your motivation for pursuing an MBA degree, you will likely agree that the most impressive MBA statistic of all is that 95 percent of business school alumni rate their education a good to outstanding value. Is your career worth an investment in an MBA?
Learn more about USC Aiken’s online MBA programs.
Sources:
GMAC Alumni Perspectives Survey Report 2017
