Ever-increasing business school tuition coupled with the opportunity cost of leaving one’s job for one to two years makes the decision to pursue a graduate business degree a difficult one for many potential MBA, MAcc, MFin and MiM applicants. Potential applicants who are sitting on the fence might be persuaded to apply after learning that the projected 2014 job market is among the best ever (particularly the MBA job market), as major global corporations continue to see value in hiring highly-skilled business school graduates.
GMAC’s recently released 2014 Corporate Recruiter Survey indicates a very positive employment landscape for MBA and other master’s-level business students who will graduate in the following twelve months. Some of the Survey’s key findings are as follows:
MBA
- An astounding 80% of all companies surveyed plan to hire MBA graduates, compared to 73% in 2013.
- 83% of responding companies in Asia Pacific plan to hire MBAs this year, up from 70% in 2013.
- A whopping 86% of employers in the United States said they plan to hire MBAs in 2014, up from 81% last year.
- 84% of consulting employers plan to hire MBA grads, up 13 percentage points from last year.
- Health care and pharmaceutical employers: 90% of the companies expect to hire MBAs this year, up 19% from 2013.
Master in Management (MiM)
- 50% of all companies surveyed plan to hire Master in Management graduates, compared to 45% in 2013.
- 68% of Asia Pacific employers expect to hire Masters in Management graduates, up from 52% in 2013.
Master in Accounting (MAcc)
- Demand is increasing for Master in Accounting graduates (45% in 2014, up from 36% in 2013).
- 53% of responding companies in Asia Pacific plan to hire MAcc graduates this year, up from 39% in 2013.
- 64% of finance/accounting employers plan to hire MAcc grads, up 10 percentage points from last year.
Master in Finance (MFin)
- More employers are seeking Master in Finance graduates (44% in 2014, up from 39% in 2013)
- 57% of Asia Pacific employers expect to hire MFin graduates, up from 40% in 2013
- 62% of finance/accounting industry employers who were surveyed said that they plan to hire MFin grads, compared to 55% last year.
As one can see, the hiring outlook among responding companies is strong overall, particularly in the Asia Pacific region, providing assurance for future job-seekers in this region. We hope this information is helpful for you as you make your graduate school decision. You can click here to access the full GMAC 2014 Corporate Recruiter Survey.