MBA Employment: A Whopping 95% In U.S.

GMAC says the survey is based on a 19% response rate, which is fairly consistent with previous polls. It does not calculate a margin of error for the poll which asks graduates if they are employed in September, which can be between three or four months after graduation depending on when commencement was held. Employment includes MBAs who are self-employed, but not those who are no longer looking for a job.

GMAC found that the three most common industries of employment for the class of 2013 alumni—products and services, finance and accounting, and consulting—remain consistent with prior years. By function, positions in finance and accounting, consulting, and marketing and sales continue to be most popular for the class of 2013 (see below).

Industry & function of employment for the Class of 2013 — Source: Graduate Management Admission Council

GMAC found that globally,  interest in the technology industry has grown in the last five years, from 12 percent in 2009 to 15 percent in 2013.

A majority of the class of 2013 (61%) job holders work in mid-level positions, while 14 percent hold entry-level positions, 20 percent are in senior-level positions, and 6 percent have executive-level status in their organizations. Job levels do vary by program type, however, possibly reflective of alumni levels of pre-degree work experience: Half (50%) of non-MBA business master’s graduates hold entry-level positions. Seventy-one percent (71%) of full-time two-year MBAs and 62 percent of full-time one-year MBAs hold mid-level positions. The majority of alumni in senior-level (60%) and executive (76%) positions graduated from professional MBA programs.

GMAC said that nearly two in five alumni (39%) have supervisory roles with direct report staff. A third (33%) of alumni in mid-level jobs, 66 percent of alumni at the senior-level, and 84 percent of executives hold supervisory positions. Only eight percent of alumni in entry-level positions are supervisors. Mid-level supervisors indicated a median number of 4 direct reports, senior level supervisors indicated 5 direct reports, and executive supervisors indicated 15 direct reports.

Jobs created by self-employed MBAs in the Class of 2013 — Source: Graduate Management Admission Council

The council also gathered information on graduates who went the startup route. GMAC said that only five percent of the responding MBAs said they are self-employed or entrepreneurs. Self-employed alumni operate a variety of business types, including sole proprietorships (29% of respondents), partnerships (31%), and LLC or S-corporations (27%). A majority of self-employed alumni (69%) have employees and/or expect to hire employees in the next 12 months.

GMAC said that more than one-third (38%) of self-employed alumni classify the scope of their business as multinational, followed by national (22% of respondents), with 69% regional and local equally sharing the remaining 40 percent (20% each).  The three most common industries for class of 2013 alumni entrepreneurs are consulting (27%), technology (23%), and products and services (23%). Globally, Class of 2013 entrepreneurs reported median annual business revenue of just $128,569. Of course, this is as of September–only a few months after graduation.

Nine out of 10 (91%) entrepreneurs in the Class of 2013 are satisfied with the experience of being self-employed, and 87 percent reported that their education provided them with the essential knowledge, skills, and abilities to develop their business.