Median Post-MBA Pay Jump Now 90%

HIGHER SALARIES…BUT NOT NECESSARILY BETTER JOBS

So which industries are making these early offers? Not surprisingly, they originate from the biggest consumers of b-school talent. Among students who accepted an early offer, 28 percent came from finance and accounting. Their biggest targets were students pursuing a Master of Accounting, with 92 percent of these students receiving an early offer from financials (followed by students in Master’s of Finance programs at 56 percent). Globally, consulting firms netted 21 percent of students who accepted an early offer, appealing a higher percentage of international students and industry switchers. Consulting also recruited the highest percentage of postgraduate students, reflecting the increasing complexity and specialization required by their clients. Products and services companies also secured 19 percent of students who accepted early offers, ranking among the biggest draws for part-time and one-year MBAs. These students were generally placed in marketing and sales, operations and logistics or human resources roles.

Post-Degree Industry Choices

While graduate business students were earning more overall, they weren’t necessarily doing better. Over half of those students who accepted early offers entered middle management, with only 18 percent getting executive level positions. Among those who’d previously worked in middle management, just 27 percent ascended to senior or executive level management. In fact, nearly 50 percent of 2015 hires stayed in relatively the same position. Some graduates even accepted lower positions, though most were among the 60 percent of the sample population who switched industries or job functions.

Of course, not every respondent planned to switch companies (or even roles). Among online students, 88 percent intended to continue with their current employer, with part-time and executive MBAs doing the same at a 77 and 75 percent clip. They also carry high hopes after earning their graduate degree, with 47 percent expecting a salary increase and 46 planning on increased job responsibilities. While 68 percent of these students are satisfied with their current state, 52 percent are open to exploring other opportunities.

BUSINESS GRADS OFTEN RELYING ON OUTDATED JOB HUNTING METHODS

Among students actively seeking employment, graduates applied for a median average of 10 jobs, securing three interviews and one offer. Overall, the least experienced students were also the most active job hunters. For example, 66 percent of students with five years or less of experience were looking for jobs, triple the percentage of students with more than 11 years of experience.

Worse, many were relying on job search methods with lower success rates. Take applying directly to a company or networking with classmates and alumni. In both cases, nearly 60 percent of job hunters used these outlets, even though the success rate was barely one-in-three. Online job sites, another favorite, had an even lower success rate (as did social media). In fact, less than 40 percent relied on internships, which has a higher than 50-50 success rate. On the plus side, nearly half of students visited their career services center, which ranked just a sliver below internships in effectiveness.

Job Search Method Used & Success Rate

Job hunting has become a particularly dicey proposition for international students studying in the United States. Although 88% hope to find work in the states, they are often hindered by everything from VISA requirements to a reliance on fickle job search mediums like social media. As GMAC notes, the best tools for such students has been career services, networking, interworking, internships and on-campus job boards. GMAC also found that that international students with early job offers had a bigger presence in internships, volunteer activities, academic and case competitions, and mentoring programs.

DON’T MISS: EXCLUSIVE INTERVIEW: GMAC PRESIDENT SANGEET CHOWFLA ON THE MBA’S FUTURE or WHAT FUTURE MBAS WANT & WHERE THEY’RE HEADED