Employer demand for recent business school graduates continues to show growth in 2015, with as much as 84% of companies worldwide planning to add new MBAs to their workforce, according to a new global survey of corporate employers.
The 2015 Corporate Recruiters Survey, conducted by the Graduate Management Admission Council in partnership with EFMD and the MBA Career Services & Employer Alliance, drew 748 responses from employers in 47 countries around the world.
The annual survey aims to provide a view into the current employment landscape, gauging demand for MBA and master-level business graduates. It also offers insights into hiring practices and trends across different industries and world regions.
GMAC President and CEO Sangeet Chowfla said the survey showed increased demand of MBA graduates, with a 10 percent increase in hiring intentions from 2014 alone.
“The MBA, as an area of study valued by employers, is showing more strength than ever with hiring of new graduates projected to rise for the third year in a row,” Mr Chowfla said.
“Employer demand for recent business school graduates, notably those skilled in data analytics, continues to increase as companies expect these new workers to use data to drive business decisions starting the moment they’re hired. Students of any undergraduate background would do well to consider taking a graduate management degree because of the contributions it can make to their career aspirations.”
“When companies express a focus on growth, it appears they return to MBA hiring,” he said.
“Whereas in the past, when priorities such as managing the enterprise or cost control were foremost on a company’s agenda, employers appeared to favour hiring more specialised graduates. This is an aspect of the hiring market we’ve observed through our research and one which will require more study to provide the deeper insights that can help both students and schools navigate the hiring market.”
MBA Career Services President and Director of Career Services at the Stephen M. Ross School of Business Damian Zikakis was thrilled with the survey’s results, as it showed more business school students can look forward to a better employment outlook after graduation.
“MBA CSEA is delighted employers are even more bullish on MBAs this year.”
“Our school members are excited that more respondents plan to hire MBAs in 2015, in particular, almost two-thirds of those companies plan to increase the number of graduates they will hire. This is great news for students and portends well for the economy overall. It is encouraging to know companies are so confident in their growth prospects.”
Below are some regional highlights from the GMAC survey:
- More than 9 in 10 companies in the U.S plan to hire MBA graduates in 2015 – up from 80% that hired MBAs in 2014.
- 75% of Asia-Pacific companies plan to hire recent MBA graduates – up from 69% in 2014.
- 56% of employers in European-based companies plan to hire MBAs (up from 53%) and 52% of Master in Management graduates (up from 51%).
- A larger share of Latin American companies plan to hire MBA and Master of Finance graduates this year compared to the share that hired them last year. 75% plan to hire MBAs (up from 69% from 2014) and 61% plan to hire Finance graduates (up from 32% from 2014).
View the full 2015 GMAC Corporate Recruiters Survey here.