The 2017 Corporate Recruiters Survey Report was released last month. Each year corporate recruiters answer questions about their hiring practices and employment trends. In March, the Graduate Management Admissions Council worked with a European business alliance called EFMD and the MBA Career Services and Employer Alliance to compile the results. For more than 15 years, the survey has measured the demand for recent MBA graduates and is the go-to resource for data of this kind.
The numbers keep getting better. For example, in 2016, 79% of the companies surveyed said they intended to hire recent MBA grads. This year the number rose to 86%. Even better news, the hiring forecast in the USA stands at 91%.
The survey also asks questions about salaries. Typically the report predicts salaries will increase. Historically, the numbers only went down during the 2009 financial crisis. Since that time, salaries quickly rebounded and have been on the rise since. This year is no exception.
The stats on starting salaries boggle the mind. The survey reports the median starting pay for recent MBA grads at $110K, up 4.5% vs. 2016 with a slightly higher salary for those entering the fields of finance and accounting.
Many students believe their degree only attracts to the Fortune 500, and while this is true, firms of all sizes and in all industries seek the talents of recent MBA grads. That includes almost ¾ of start-ups and family run businesses. Prospects within the healthcare sector and in consulting firms are particularly robust, especially when compared to last year.
While much of this news seems intuitive, this survey confirms our thinking and puts hard numbers to what is otherwise considered common sense. Pursuing an MBA degree continues to be a wise investment – an investment that pays dividends upon graduation and for many years after that.
Written by Diane Fittipaldi, MBA Professor
“I consider myself a recovering ad exec. I’m a scholar. A researcher. A professor. I believe personal stories inspire change. I spend my time investigating issues of age and gender equality in the workplace, hoping to discover structural solutions to systemic problems. I enjoy my home at St. Kate’s – an organization on that wholeheartedly supports me in these endeavors giving me a platform to affect change.”