Global Employers To Hire More MBAs In 2017 – GMAC
Despite Donald Trump, US companies will hire more international MBA graduates this year. MBA base salaries also set to increase globally, says new GMAC report
Despite immigration bans and Donald Trump’s pugnacious rhetoric, most US companies plan to hire, or are open to hiring, international MBA or business master’s graduates in 2017. 55% of US companies said so, up from 49% in 2016.
That, according to 2017’s Corporate Recruiters Survey from the Graduate Management Admission Council (GMAC) released today. The findings are based on a survey of 959 employers, representing more than 628 companies in 51 countries worldwide, conducted early this year.
The technology industry in the US is the most likely to hire international business grads in 2017. Half of US tech firms plan to – up from 27% last year.
Globally, employer demand for MBAs has also increased. 86% of companies plan to hire MBA graduates this year, up from 79% in 2016.
In the US and the Asia-Pacific, nine out of ten companies plan to hire MBA grads. Three in four startup companies plan to hire MBA grads in 2017, up from 52% in 2016.
MBA grads will earn more money this year. 52% of global companies plan to increase MBA base salaries; 18% above the rate of inflation.
According to the Financial Times, MBA grads from the University of Hong Kong can expect to earn over $120,000 three years after graduation, with an average salary uplift of 109%.
In the US, new MBA hires will earn a projected average salary of $110,000 per year; up from $105,000 in 2016, and 83% more than graduates from bachelor’s degree programs, at $60,000.
“This signifies the value these programs create for students and the vital role their skillsets bring employers,” says Sangeet Chowfla, GMAC president and CEO.
“Despite the political uncertainty about the status of immigration and work visas in the United States, companies are keen to hire graduates from this year’s MBA and business master’s programs, including international candidates.”
Are you struggling to decide between an MBA vs. Master in Management? The largest increase in hiring demand this year, compared with 2016, is for Master in Management graduates.
59% of companies globally plan to hire Master in Management grads, up from 50% last year. 70% of manufacturing companies plan to hire Master in Management grads in 2017.
Increased demand has led business schools, particularly European schools like the International University of Monaco and France’s EMLYON Business School, to offer both MBA and Master in Management programs.
Increasingly, employers want business grads with big data analytics skills. 69% of employers plan to place recent graduate business school hires into data analytics roles in 2017, just trailing marketing, business development, and finance roles — each with 71%.
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