This turns out to be a great year for MBA grads. If all goes as predicted, when MBAs graduate this year they will be faced with a good number of job prospects. They will actually be graduating into the best job market in 10 years.
According to a new report, MBA grads will have more options as there will be more companies wanting to hire them.
The Graduate Management Admission Council (GMAC), which administers the GMAT, found that companies worldwide will hire many more MBAs in 2015 than they have in any single year since 2003. GMAC surveyed corporate recruiters, and found that 84 percent of companies globally say they will hire people with master’s of business degrees, up from 74 percent that hired new MBAs in 2014. This will be the largest year-over-year increase in projected MBA hiring since 2011.
“MBA hiring will ramp up the most in the U.S., where 90 percent of employers said they would be filling desks with new B-school grads, up from 82 percent last year,” reports Yahoo.
Energy and utilities sector will is likely hire the most MBA. In this sector, 96 percent of firms said that they wanted to hire recent grads and that most of the new employees would work in jobs related to finance or general management. In technology, 93 percent plan to employee B-school alums, mainly for marketing work.
And best of all, most companies said they will raise salaries for MBAs. But only one in five said it would increase pay by more than the rate of inflation. Typically, an MBA grad can make around $100,000 to start. That salary is a little higher than the median rate in 2014 but almost double what the typical college graduate will make this year, reports GMAC.