Some 57% of 2014 MBA and other business school graduates had at least one early employment offer – down from 60% last year, but double the 32% who had offers at the same time in 2010.
The median salary increase of those with job offers was 80% above their pre-degree salary – up from a 73% increase last year, according to GMAC.
The 15th annual Global Management Education Graduate Survey looks at how business school graduates view their programs and offers a snapshot of their early job search and career intentions.
The survey, which polled 3,000 business school graduates at more than 100 universities, also revealed that non-traditional sectors offer MBAs the best hiring prospects.
Seventy-four percent of graduates entering the manufacturing, healthcare and pharma sectors had at least one job offer – the biggest slice of the employment pie. Tech came second with 61% of MBAs reporting job offers in the industry, accounting for 15% of all early offers.
Those in healthcare, tech and manufacturing also received the biggest increases in salary compensation.
Consulting and finance, traditionally the dominant industries, were considerably lower on job offers, on 27% and 26% respectively.
“This snapshot of the early job market for business school graduates demonstrates that graduate business degrees are useful in a wide variety of careers,” said Gregg Schoenfeld, GMAC survey research director.
“While demand remains strong among traditional industries, business school graduates shouldn't overlook alternative sectors, which are actively seeking MBA and other business school talent.”
MBAs on two-year programs got the most job offers – 60% to 45% for those on one-year programs.
MBA students hoping to stay in their pre-degree industry are also more likely to land jobs.
More than 80% of 2014’s MBA classes said that business school improved their chances of finding a job.
“The job market for business school graduates has rebounded nicely since 2010, and employers in all sectors recognize they need the business skills and acumen these graduates bring,” added Gregg.
But just 4% of graduating students polled were self-employed or intending to pursue entrepreneurship after graduation, said the survey, while 62% of the students were actively seeking jobs.
Within the group planning to become entrepreneurs, 54% were already self-employed before starting their degrees, and 46% launched businesses while enrolled at school.
Entrepreneurs cite leadership development and growing their businesses as the most important aspect of their management education learning.
Domestic students are also much more likely to secure job offers. Two-thirds (67%) of domestic students seeking a job in 2014 have received an offer of employment compared with 39% of international students. The finding will do little to ease fears that employers in the US and Europe are less willing to hire international MBA graduates.
But international students fare better in Europe, where 51% received job offers – more than in any other region.
Domestic students in the US and India are well positioned in job offer status compared with those elsewhere. A staggering 91% of students at Indian schools report having a job offer, up from 75% last year, and 57% of students at US schools had job offers. Nearly 50% of European MBAs had job offers.
MBAs on part-time, flexible, executive and online programs are the least likely to be involved in job searches.
Elsewhere, government and non-profit remains a steady sector for business graduates, accounting for 5% of the graduates' early job offers. Some 62% of those seeking jobs in government and non-profit had early offers, roughly the same as last year.
GMAC is a non-profit education organization of leading graduate business schools and owner of the GMAT exam. For a copy of the Global Management Education Graduate Survey report, go to gmac.com/globalgrads.
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