In contrast to the turmoil in world financial markets, recent data from GMAC show that the fundamentals for graduate management education remain strong. In recent surveys of recruiters and graduates, both groups place a high value on the MBA. Coupled with findings about the skills that students say they need and employers say they want, the survey results can help leaders in graduate management education map strategies for the future.
At their core, the data offer guidance for building programs that will not only attract the best students, but also meet students’—and ultimately employers’—professional needs. And programs that successfully produce the kind of top quality, highly skilled graduates that employers seek will attract more attention for their school from corporate recruiters—and top-level student candidates, as well.
Strong Support for the MBA
One basic finding from both surveys was that students and employers continue to express resounding support for the MBA. As Dave Wilson, president and CEO of GMAC, recently observed, “The fundamentals have not changed. Corporations continue to value the MBA, and they continue to pursue people with the unique mix of skills and talents that characterize business school graduates.”
In fact, 98 percent of respondents in the Corporate Recruiters Survey—representing small companies to multinational businesses—said they were satisfied with the quality of their MBA employees. The survey also found that, despite dips in hiring brought on by the recession, the proportion of new employees that hold MBA degrees, including new graduates and experienced hires, remained steady in the companies’ hiring mix.
Similarly, and despite the uncertain job market, 91 percent of student respondents in the Global Management Education Graduate Survey* considered their degree a good to outstanding value. Most said their graduate business school had more than adequately prepared them to meet the challenges they will face in the economy and labor market.
* Formerly the Global MBA® Graduates Survey