Most New MBAs Find Jobs Shortly After Earning Degrees
Even as job-seekers at all levels continue to struggle with a tight labor market, the majority of people who earned an MBA or other graduate management degree in 2009 were employed within a few months of finishing school, according to a new report from the Graduate Management Admission Council (GMAC).
Three-quarters of business school graduates who earned MBAs from full-time programs in 2009 and participated in GMAC’s semi-annual Alumni Perspectives Survey had a job when GMAC conducted the survey in September 2009. Among survey participants who completed part-time MBA programs in 2009, 96 percent said they were employed when the survey was conducted. Eighty-five percent of respondents who received other types of graduate management degrees during the year were employed at the time of the study.
“The knowledge, skills and networks of contacts people develop in business school give them a clear edge in the job market,” said Dave Wilson, president and CEO of GMAC. “The remarkable success individuals with graduate management degrees continue to have when looking for employment — even in a down economy — is further evidence of the high value employers place on management education.”
GMAC is an international nonprofit association of top business schools and owner of the Graduate Management Admission Test (GMAT), used by thousands of MBA and other graduate management programs around the world as part of the admissions process. A record 269,614 GMAT exams were taken worldwide in 2009.
Although most 2009 business school graduates were able to land jobs quickly, many found that the starting salaries they were offered were lower than those offered to their counterparts from previous years, according to the survey. The median starting salary for all survey participants who finished school last year was $79,271, down slightly from the $80,000 median starting salary members of the class of 2008 received.