This survey addresses job search efforts, types of industries searched, methods used to obtain a job offer, and compensation statistics.
Schools can use these findings to guide current and future students in career placement services.
Early Job Offers for Management Graduates
Career enhancements and exposure to new opportunities topped the list of desired graduate business school outcomes among prospective students. Attaining this goal depends on many factors, including preparedness for the job search and regional variations in employer demand.
GMAC's 2013 Global Management Education Graduate Survey: Job Search Report, the first of a series, explores early job search success for 5,331 graduating students in the class of 2013 from 159 business schools located in 33 countries.
“Students can use the survey findings to crack the methods for the job search that will be most helpful to landing an offer, and give schools insights into approaches that may be used to coach both domestic and international students for employment success,” said Laura Leach, the GMAC survey research manager who authored the survey.
2013 Key Findings
A majority (60%) of job seekers in the class of 2013 reported receiving an offer of employment at the time of the survey, a finding comparable with last year’s class (62%) and improved from the rates of job offers secured five years ago.
Industries preferred by business and management graduating students were products and services (23%), finance and accounting (22%), and consulting (18%). Yet, high rates of job offers were seen among those who searched in less popular industries, including technology (71% of job seekers with offers), manufacturing (71%), and health care (67%). Regardless of industry, the most preferred job functions were finance and accounting (27%), followed by marketing and sales (20%), consulting (16%), and general management (14%).
A business school education and previous work experience can be a lucrative combination. Two out of five (42%) students had more than six years of work experience. That group, which traditionally has the highest pre-degree salary, expected to see a 57 percent increase in earnings compared with their pre-degree salary. Graduates with three to six years of prior work experience expected an 83 percent increase in earnings, and those with less than three years of work experience expected an average salary increase of more than double their pre-degree salary.
A majority of business school graduating students surveyed intend to work in their country of citizenship and 9 percent plan to work elsewhere. Business school cohorts are often internationally diverse and landing a job offer varies depending on where they study, and the process of an international job search. Graduates who conducted an international job search often had to do more leg work, but those who received job offers to work outside their home country tended to see a greater percentage change between their pre- and post-degree salary compared with domestic candidates.
This year, the survey findings include statistical analysis for more program types—online/distance MBA, master's programs of accounting, finance, management, as well as two-year and one-year postgraduate degree programs—the most prevalent management programs in India. For the first time, this report includes data analysis for schools located in China and India separate from other countries in the Asia-Pacific Islands and Central Asian regions.
Learn about the hiring demand for business school talent in the latest GMAC 2013 Corporate Recruiters Survey results.